Security Deposit Disposition Sample Clauses
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Security Deposit Disposition. (section 12 PBV TA) The security deposit may not be used to pay rent or other charges while the Tenant occupies the Dwelling Unit. No refund of the security deposit will be made until after the Tenant has vacated the Dwelling Unit, the Dwelling Unit has been inspected by Landlord, and all remaining charges on the Tenant’s account have been deducted. Landlord will use the security deposit at the termination of the Lease:
1. To pay rent or any other charges owed by the Tenant at the termination of the Lease, including but not limited to court ordered costs; and
2. To reimburse Landlord for the cost of repairing any damage to the Dwelling Unit, common areas or grounds beyond normal wear and tear, caused by the Tenant, or their household members, guests or other persons under their control; and
3. To reimburse Landlord for the cost of unit preparation if Tenant vacates the unit within the first 12 months of occupancy. The Tenant will be charged for the materials and labor necessary to prepare the unit for re-occupancy, minus the costs associated with expected normal wear and tear, based on the length of occupancy.
4. Within 30 days following move-out, ▇▇▇▇▇▇▇▇ agrees to return the Security Deposit to Tenant, less deductions for any costs as indicated above. If any deductions are made, Landlord will furnish Tenant with a written statement of any such costs for damages and/or other charges deducted from the Security Deposit.
Security Deposit Disposition. We will send, to your last known address, by first class mail, or any refundable Security Deposit (less lawful deductions) and/or an itemized accounting of any deductions no later than twenty-one (21) days after the Lease Contract termination and delivery of possession to us. Unless other arrangements are made in writing, the remaining Security Deposit will be divided and sent in equal portions to the tenants named on the Lease Contract. Should the lawful deductions exceed the amount of Security Deposit paid, the named tenants will be held joint and severally liable for the balance owed.
Security Deposit Disposition. The security deposit may not be used to pay rent or other charges while the Tenant occupies the Dwelling Unit. No refund of the security deposit will be made until after the Tenant has vacated the Dwelling Unit, the Dwelling Unit has been inspected by CMHA, and all remaining charges on the Tenant’s account have been deducted. CMHA will use the security deposit at the termination of the Lease:
1) To pay rent or any other charges owed by the Tenant at the termination of the Lease; and
2) To reimburse CMHA for the cost of repairing any damage to the Dwelling Unit, common areas or grounds beyond normal wear and tear, caused by the Tenant, or their household members, guests or other persons under their control. Within 30 days following move-out, CMHA agrees to return the Security Deposit to Tenant, less deductions for any costs as indicated above. If any deductions are made, CMHA will furnish Tenant with a written statement of any such costs for damages and/or other charges deducted from the Security Deposit.
Security Deposit Disposition. OWNER shall indemnify, defend and hold harmless MANAGER, its agents, employees and officers, from any and all damages, claims, demands, suits, losses, fines, judgments, penalties, and/or expenses, including reasonable attorney’s fees, costs of litigation, or MANAGER’S expenses arising as a result of Security Deposit Disposition Dispute Claims unless MANAGER is negligent. In the event of any suit resulting from a Security Deposit Disposition, OWNER shall reimburse MANAGER in accordance with the terms of this AGREEMENT and Schedule A. MANAGER shall disburse funds in deposit on behalf of OWNER and/or the PROPERTY, in accordance with the terms and conditions of the lease agreement and applicable law. Security Deposit Funds will first be disbursed in payment of fees outlined above in 4.1(a) and 4.1(d). MANAGER hereby acknowledges that OWNER’S lender may require MANAGER to execute a subordination agreement and MANAGER ▇▇▇▇▇▇ agrees to execute a reasonable subordination agreement if required. OWNER expressly authorizes MANAGER to settle Security Deposit Disposition Dispute Claims when expedient.