Tenants' Security Deposit Refunds Sample Clauses

Tenants' Security Deposit Refunds. To comply with the Deposit Accounting per Oregon law (Sec. 30.01.087) Owner agrees that for Manager to use accepted “best practices” in fulfilling its intent, upon the first vacancy under the terms of this contract, it necessitates that Manager conduct a Compliance Inspection as defined in the F.A.I.R. Act and as addressed in Section 2.2.8 herein. Manager to follow accepted industry standards and legal limits (as defined by Portland F.A.I.R statutes) in assessing Tenant damages, including normal wear and tear. There is no provision in this agreement necessitating prior Owner instructions to be sought or required by Manager in the assessment, collection or final disposition of the Tenants' Security Deposits.