SECURITY DEPOSIT DEDUCTIONS Sample Clauses

SECURITY DEPOSIT DEDUCTIONS. Resident understands that the Security Deposit will be used for, but not limited to, damages to the Resident’s Bedroom and Common Areas of the Unit and cleaning and repairs beyond "normal wear and tear" to Resident's Bedroom and the Common Areas of the Unit caused by the Resident, Co-tenants, invitees and guests, unpaid utilities (if applicable), unpaid Rents, unpaid late charges, fees, re-rental expenses, and other fines for which Resident is liable. Resident understands that liability for such damages is not limited to the amount of the Security Deposit and that such liability can go beyond the amount of the Security Deposit. Resident agrees that the Security Deposit is not to be used in lieu of last month's Rent Installment, an advanced rent payment, or any other sum anytime during the Resident's tenancy. Liability under this Lease of each Resident of the Unit is joint and several, except as to liability for base Rent. Unless all Co-tenants of the Unit agree otherwise in writing, and said written agreement is sent to Landlord within three (3) days of the termination of this Lease, deductions from the four (4) or five (5) Co-tenants’ Security Deposits, for other than unpaid Rent, may be deducted from the four (4) or five (5) Security Deposits on a prorated basis. A summary of costs have been provided in the Resident Handbook Rules and Regulations; however these costs are merely estimates, and Resident(s) will be obligated to pay the actual market rate costs of repair and / or replacement, as applicable.
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
SECURITY DEPOSIT DEDUCTIONS. Landlord may deduct from the security deposit any such amounts as are reasonably necessary to recover any defaults made in the faithful performance by Tenant of the Lease. Tenant must return the premises to the condition at the commencement of the Lease, reasonable wear and tear excluded. The cost of maintenance and repairs due to reasonable wear and tear shall be assumed by Landlord. Landlord shall return any remaining portion of the security deposit to Tenant within 21 days after Tenant has vacated and Landlord has regained possession of the premises. In the event any deduction to the security deposit is made by Landlord, Landlord shall provide Tenant with an itemized statement accounting for the use of the unrefunded portion of the security deposit, including a detailed itemization of labor and materials, within 21 days of this Lease’s termination.
Sample 1Sample 2
SECURITY DEPOSIT DEDUCTIONS. Prior to refund, deductions will be made from the Security Deposit for the following items (a) A cleaning charge of
Sample 1
SECURITY DEPOSIT DEDUCTIONS. If Tenant fails to comply with requirements for vacating or surrendering Premises in its cleanly, original condition, less normal wear and tear, or if Tenant causes damage to common areas or other areas on the property, Tenant agrees Landlord may deduct from the Security Deposit an amount for labor, materials, supplies, cleaning, and administrative costs. Labor costs will be billed at $60.00 per hour per worker or the actual hourly cost of the worker hired if such cost exceeds $60.00 per hour. At the end of the lease, damage to the property will be determined based on the ''Move In/Out Checklist'' form given to the Tenant at the start of the lease. Any and all charges deducted from the Security Deposit may incur a 10% additional administration fee.
Sample 1
SECURITY DEPOSIT DEDUCTIONS. There shall be deducted from the Deposit appropriate charges for (a) unpaid rent including late charges (b) unpaid utilities, (c) cleaning, damages and required repair to the leased premises (d) replacing unreturned mailbox keys, (e) removing and/or storing abandoned property, (f) removing abandoned or illegally parked vehicles, (g) agreed costs of reletting, (h) attorney’s fees and court costs incurred in any eviction proceeding against Tenant and (i) other charges provided for herein or agreed to by the parties hereto. Deposit will be first applied to non-rent items, including late charges, charges for returned checks, deductions outlined above, if any, then to unpaid rent. Any balance of Deposit shall be refunded to Tenant’s forwarding address provided to Landlord in writing by Tenant in accordance with state law. Landlord shall provide Tenant a written report of any deductions. If deductions exceed the Deposit, Tenant agrees to pay to Landlord any overage amount within (10) days of written notice to Tenant by Landlord.
Sample 1
SECURITY DEPOSIT DEDUCTIONS. There shall be deducted from the Deposit appropriate charges for
Sample 1
SECURITY DEPOSIT DEDUCTIONS. Property Address:  Tenants should not expect full Security Deposit refunds.
Sample 1
AutoNDA by SimpleDocs

Related to SECURITY DEPOSIT DEDUCTIONS

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one) ☐ - Agent for returning to vacating tenants. ☐ - Owner for returning to vacating tenants.

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

  • Security Deposit Not later than December 31, 2007, Tenant agrees to deposit with Landlord, the sum of $95,000.00 to be held by Landlord as security for the faithful performance of all the terms and conditions of this Lease (“Security Deposit”). Should the Tenant breach any of the terms and conditions of this Lease which continues beyond any applicable cure period and required notice, Landlord shall have the right, at any time, to apply the Security Deposit or any part thereof, for the purpose of curing any such default or for the purpose of reimbursing Landlord for any damage or costs occasioned by such default, but the right of Landlord to apply the Security Deposit shall not affect any other remedies available to Landlord under this Lease or under applicable law. If the Security Deposit, or any part thereof, is so applied by Landlord, Tenant shall, within ten (10) days after demand, deposit additional funds with Landlord to restore the Security Deposit, and failure to do so shall constitute an event of default under this Lease. If the Tenant shall have complied with all material terms and conditions of this Lease at the expiration of this Lease, the Security Deposit (without interest and amounts properly withdrawn by Landlord and not refunded by Tenant) shall be refunded to Tenant within thirty (30) days after the expiration or sooner termination of this Lease (including without limitation permitted terminations hereunder and terminations due to Landlord’s default which continues beyond applicable grace and cure periods following notice where applicable); provided, however, that Tenant first shall have vacated the Leased Space and surrendered possession thereof to the Landlord by delivery of keys, in accordance with the Lease provisions and shall have returned the Leased Space to Landlord in the condition required hereunder. Nothing herein contained shall require Landlord to hold the sums so deposited as a trust fund, nor establish any relationship other than that of debtor and creditor with respect to said funds so deposited. If Landlord shall assign or otherwise transfer its interest in this Lease, Landlord shall transfer the Security Deposit to the assignee or other transferee of such interest (with like obligation to transfer to any subsequent assignee or other transferee), and upon such transfer, Landlord shall be released and relieved from all liability and/or responsibility with respect to this Security Deposit and/or the return or application thereof.

  • Additional Security Deposit No additional security deposit shall be required in connection with this Amendment.

  • Escrow Deposits All escrow deposits and escrow payments currently required to be escrowed with the Mortgagee pursuant to each Mortgage Loan (including capital improvements and environmental remediation reserves) are in the possession, or under the control, of the Mortgage Loan Seller or its servicer, and there are no delinquencies (subject to any applicable grace or cure periods) in connection therewith, and all such escrows and deposits (or the right thereto) that are required under the related Mortgage Loan documents are being conveyed by the Mortgage Loan Seller to the Depositor or its servicer (or, in the case of a Non-Serviced Mortgage Loan, to the related depositor under the Non-Serviced PSA or Non-Serviced Master Servicer for the related Non-Serviced Trust).

  • Interest on Deposit Liabilities The Assuming Institution agrees that, from and after Bank Closing, it will accrue and pay interest on Deposit liabilities assumed pursuant to Section 2.1 at a rate(s) it shall determine; provided, that for non-transaction Deposit liabilities such rate(s) shall not be less than the lowest rate offered by the Assuming Institution to its depositors for non-transaction deposit accounts. The Assuming Institution shall permit each depositor to withdraw, without penalty for early withdrawal, all or any portion of such depositor's Deposit, whether or not the Assuming Institution elects to pay interest in accordance with any deposit agreement formerly existing between the Failed Bank and such depositor; and further provided, that if such Deposit has been pledged to secure an obligation of the depositor or other party, any withdrawal thereof shall be subject to the terms of the agreement governing such pledge. The Assuming Institution shall give notice to such depositors as provided in Section 5.3 of the rate(s) of interest which it has determined to pay and of such withdrawal rights.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such date.

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account.

  • Rent and Security Deposit (if applicable). Renter will pay the Town a rental fee of $ at the signing of this Rental Agreement. Renter will also pay the Town a security deposit of $ at the signing of this Rental Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.