Common use of SECURITY PROVISION Clause in Contracts

SECURITY PROVISION. The Landlord herewith acknowledges receipt of Twenty-four Thousand Five Hundred Nine and 56/100 Dollars ($24,509.56) which he is to retain as security for the faithful performance of all of the covenants, conditions, and agreements of this Lease, but in no event shall the Landlord be obliged to apply the same upon rents or other charges in arrears or upon damages for the Tenant's failure to perform the said covenants, conditions, and agreements; the Landlord may so apply the security at his option; and the Landlord's right to the possession of the premises for non-payment of rent or for any other reason shall not in any event be affected by reason of the fact that the Landlord holds this security. The said sum if not applied toward the payment of rent in arrears or toward the payment of damages suffered by the Landlord by reason of the Tenant's breach of the covenants, conditions, and agreements of this Lease is to be returned to the Tenant when this Lease is terminated, according to these terms, and in no event is the said security to be returned until the Tenant has vacated the Premises and delivered possession to the Landlord. In the event that the Landlord repossesses himself of the said Premises because of the Tenant's default or because of the Tenant's failure to carry out the covenants, conditions, and agreements of this Lease, the Landlord may apply the said security upon all damages suffered or shall accrue thereafter by reason of the Tenant's default or breach. The Landlord shall not be obliged to keep the said security as a separate fund, but may mix the said security with his own funds.

SECURITY PROVISION. The Landlord herewith acknowledges the receipt of Twenty-four Twelve Thousand Five One Hundred Nine Forty Six and 56/100 66/100 Dollars ($24,509.5612,146.66) (the "Security Deposit), which he the Landlord is to retain as security for the faithful performance of all of the covenants, conditions, conditions and agreements of this Lease, but in no event shall the Landlord be obliged to apply the same upon rents or other charges in arrears or upon damages for the Tenant's failure to perform the said covenants, conditions, and agreements; the Landlord may so apply the security at his option; and the Landlord's right to the possession of the premises agreements for non-payment of rent or for any other reason default. Tenant's obligation to pay rent shall not in any event be affected by reason of the fact that the Landlord holds this securitythe Security Deposit. The said sum Security Deposit, if not applied toward the payment of damages of rent in arrears or toward the payment of damages suffered by the Landlord by reason of the Tenant's breach of the covenants, conditions, and agreements of this Lease Lease, is to be returned to the Tenant when within thirty (30) days after this Lease is terminated, according to these terms, and in no event is the said security Security Deposit to be returned until the Tenant tenant has vacated the Premises and delivered possession to the Landlord. In the event that the Landlord repossesses himself itself of the said Premises because of the Tenant's default or because of the Tenant's failure to carry out the covenants, conditions, conditions and agreements of this Lease, the Landlord may apply the said security Security Deposit upon all damages suffered to the date of said repossession and may retain the Security Deposit to apply upon such damages as may be suffered or shall accrue thereafter by reason of the Tenant's default or breach. The Landlord shall not be obliged to keep the said security Security Deposit as a separate fund, but may mix the said security Security Deposit with his own Landlord's funds.

SECURITY PROVISION. The Landlord herewith acknowledges the receipt of Twenty-four a total of Four Thousand Five Hundred Nine and 56/100 Dollars 91/100 ($24,509.564,509.91) which he is to Dollars and Landlord will retain as security for the faithful performance of all of the covenants, conditions, conditions and agreements of this Lease, but in no event shall the Landlord be obliged to apply the same upon rents or other charges in arrears or upon damages for the Tenant's tenants' failure to perform the said covenants, conditions, and agreements; the Landlord may so apply the security at his option; and the Landlord's right to the possession of the premises Premises for non-payment of rent or for any other reason shall not in any event be affected by reason of the fact that the Landlord holds this security. The said sum if not applied toward the payment of rent in arrears or toward the payment of damages suffered by the Landlord by reason of the Tenant's breach of the covenants, conditions, and agreements of this Lease is to be returned to the Tenant when this Lease is terminated, according to these terms, and in no event event, is the said security to be returned until the Tenant has vacated the Premises and delivered possession to the Landlord. In the event that the Landlord repossesses himself of the said Premises because of the Tenant's default or because of the Tenant's failure to carry out the covenants, conditions, and agreements of this Lease, the Landlord may apply the said security upon all damages suffered to the date of said repossession and may retain the said security to apply upon such damages as may be suffered or shall accrue thereafter by reason of the Tenant's default or breach. The Landlord shall not be obliged obligated to keep the said security as a separate fund, but may mix the said security with his own funds.