Common use of Security Deposit Return Clause in Contracts

Security Deposit Return. The Security Deposit will be returned to the Lessee within Thirty Five (35) days after the termination or expiration of this Lease, and any renewal thereof, provided Lessee shall have made all such payments and performed all such covenants and agreements imposed upon Lessee. The Lessor shall provide Lessee with an itemized accounting of all deductions from the Security Deposit. In the event that the charges imposed to cure any breach of the covenants or agreements imposed by this Lease are greater than the amount of the Security Deposit, the Lessee shall be responsible for such overage. The Lessee shall notify the Lessor of the address and telephone number where Lessee can be reached after the termination of this Lease. If the Lessee fails to provide such information, the Security Deposit may be mailed to the Lessee at the address of the Premises; and One Hundred Eighty (180) days after the termination or expiration of the Lease, Lessee will be deemed to have relinquished its right to the Security Deposit. Nothing in this paragraph shall be deemed to limit the amount of any claim, demand, or cause of action of Lessor against the Lessee under the provisions of this Lease. The conditions for the full return of the Security Deposit shall include, but not be limited to, the Lessor’s satisfaction of the following: (a) The full Term of Lease has expired. (b) There is no damage beyond fair wear and tear to Lessor’s property, furniture, appliances, draperies, mini-blinds, etc. (c) The entire Premises, including range, exhaust fan, refrigerator, bathroom, fireplace, closets and cabinets are clean. The refrigerator is to be defrosted, cleaned, and propped open. (d) There are no stickers or scratches or holes on walls, cabinets, appliances or plumbing fixtures. (e) There is no damage to carpet beyond normal wear and tear, and that there are no stains, tears, etc. in the carpet. Lessee acknowledges that the carpet will be professionally cleaned on or about the time Lessee takes occupancy. Lessee is responsible for professionally cleaning the carpet upon vacating the Premises. (f) That there are no unpaid charges, rental amounts, or late fees. (g) That all entry/storage locks shall be returned to the Lessor. If keys are not returned, Lessee will be charged for having all entry / storage locks rekeyed upon vacating the Premises. (h) That all debris and rubbish and discards are placed in proper rubbish containers. (i) That a forwarding address and telephone number is left with the Manager. (j) That no breach of the Lease, and/or Rules and Regulations has occurred.

Security Deposit Return. Contemporaneously with the execution of this Master Agreement, Lessor shall have paid to Lessee the Security Deposit, which shall be held by Lessor to secure Lessee’s performance of its obligations under this Master Agreement and any related or ancillary agreement between the parties. The Security Deposit will be returned is not an advance payment of Rent or a measure or limit of Lessor’s damages upon an Event of Default (as defined herein). Lessor may, from time to the Lessee within Thirty Five (35) days after the termination time following an Event of Default and without prejudice to any other remedy, use all or expiration a part of this Lease, and any renewal thereof, provided Lessee shall have made all such payments and performed all such covenants and agreements imposed upon Lessee. The Lessor shall provide Lessee with an itemized accounting of all deductions from the Security DepositDeposit to perform any obligation Lessee fails to perform hereunder. In the event that the charges imposed to cure Following any breach of the covenants or agreements imposed by this Lease are greater than the amount such application of the Security Deposit, the Lessee shall be responsible for pay to Lessor on demand the amount so applied in order to restore the Security Deposit to its original amount. Provided that Lessee has performed all of its obligations hereunder, Lessor shall, within 60 days after the expiration of the Term and Lessee’s surrender of all Items of Equipment in compliance with the provisions of this Master Lease, return to Lessee the portion of the Security Deposit which was not applied to satisfy Lessee’s obligations. Notwithstanding the preceding sentence and to the extent permitted by applicable Law, Lessor may retain the Security Deposit until such overagetime after the expiration of the Term that Lessor is able to reconcile and confirm all amounts payable by Lessee under this Lease have been paid in full by Lessee. The Lessee shall notify the Lessor of the address and telephone number where Lessee can be reached after the termination of this Lease. If the Lessee fails to provide such information, the Security Deposit may be mailed commingled with other funds, and no interest shall be paid thereon. If Lessor transfers its interest in this Master Agreement and the transferee assumes Lessor’s obligations under this Master Lease, then Lessor may assign the Security Deposit to the Lessee at transferee and Lessor thereafter shall have no further liability for the address return of the Premises; Security Deposit. The rights and One Hundred Eighty (180) days after the termination or expiration obligations of the Lease, Lessor and Lessee will be deemed under this Section are subject to have relinquished its right any other requirements and conditions imposed by Laws applicable to the Security Deposit. Nothing in this paragraph shall be deemed to limit the amount of any claim, demand, or cause of action of Lessor against the Lessee under the provisions of this Lease. The conditions for the full return of the Security Deposit shall include, but not be limited to, the Lessor’s satisfaction of the following: (a) The full Term of Lease has expired. (b) There is no damage beyond fair wear and tear to Lessor’s property, furniture, appliances, draperies, mini-blinds, etc. (c) The entire Premises, including range, exhaust fan, refrigerator, bathroom, fireplace, closets and cabinets are clean. The refrigerator is to be defrosted, cleaned, and propped open. (d) There are no stickers or scratches or holes on walls, cabinets, appliances or plumbing fixtures. (e) There is no damage to carpet beyond normal wear and tear, and that there are no stains, tears, etc. in the carpet. Lessee acknowledges that the carpet will be professionally cleaned on or about the time Lessee takes occupancy. Lessee is responsible for professionally cleaning the carpet upon vacating the Premises. (f) That there are no unpaid charges, rental amounts, or late fees. (g) That all entry/storage locks shall be returned to the Lessor. If keys are not returned, Lessee will be charged for having all entry / storage locks rekeyed upon vacating the Premises. (h) That all debris and rubbish and discards are placed in proper rubbish containers. (i) That a forwarding address and telephone number is left with the Manager. (j) That no breach of the Lease, and/or Rules and Regulations has occurred.

Security Deposit Return. The Security Deposit will be returned to the Lessee within Thirty Thirty-Five (35) days after the termination or expiration of this Lease, and any renewal thereof, thereof provided Lessee shall have made all such payments and performed all such covenants and agreements imposed upon Lessee. The Lessor shall provide Lessee with an itemized accounting of all deductions from the Security Deposit. In the event that the charges imposed to cure any breach of the covenants or agreements imposed by this Lease are greater than the amount of the Security Deposit, the Lessee shall be responsible for such overage. The Lessee shall notify the Lessor of the address and telephone number where Lessee can be reached after the termination of this Lease. If the Lessee fails to provide such information, the Security Deposit may be mailed to the Lessee at the address of the Premises; and One Hundred Eighty (180) days after the termination or expiration of the Lease, Lessee will be deemed to have relinquished its right to the Security Deposit. Nothing in this paragraph shall be deemed to limit the amount of any claim, demand, or cause of action of Lessor against the Lessee under the provisions of this Lease. The conditions for the full return of the Security Deposit shall include, but not be limited to, the Lessor’s satisfaction of the following: (a) The full Term of Lease has expired. (b) There is no damage beyond fair wear and tear to Lessor’s property, furniture, appliances, draperies, mini-blinds, etc. (c) The entire Premises, including range, exhaust fan, refrigerator, bathroom, fireplace, closets closets, and cabinets are clean. The refrigerator is to be defrosted, cleaned, and propped open. (d) There are no stickers or scratches or holes on walls, cabinets, appliances or plumbing fixtures. (e) There is no damage to carpet beyond normal wear and tear, and that there are no stains, tears, etc. in the carpet. Lessee acknowledges that the carpet will be professionally cleaned on or about the time Lessee takes occupancy. Lessee is responsible for professionally cleaning the carpet upon vacating the Premises. (f) That there are no unpaid charges, rental amounts, or late fees. (g) That all entry/storage locks shall be returned to the Lessor. If keys are not returned, Lessee will be charged for having all entry / storage locks rekeyed upon vacating the Premises. (h) That all debris and rubbish and discards are placed in proper rubbish containers. (i) That a forwarding address and telephone number is left with the Manager. (j) That no breach of the Lease, and/or Rules and Regulations has occurred.