Common use of Rule 5 Clause in Contracts

Rule 5. The security deposit shall be retained by the Landlord and administered in accordance with all applicable statutory requirements as security for Tenant’s faithful performance of all lease terms, covenants and conditions. On the second (2nd) anniversary, the deposit, if it exceeds $100, will be deposited in an interest bearing account. One percent (1%) of the interest will be retained by the Landlord for bookkeeping. The balance of the interest will be paid to the Tenant, as required by Pennsylvania Law. The check will be made payable to all persons signing this lease and mailed to a forwarding address which must be furnished by Tenant in writing. Rule 6. A $50.00 service fee will be charged on all checks returned due to Non-sufficient funds or for any other reason. Returned checks will not be re-deposited, unless done automatically by the bank. Tenant must cover the returned check with cash, money order or certified check. Late charges will continue to accrue, retroactive to the 1st of the month until the rent is paid in full.

Rule 5. The security deposit shall be retained by the Landlord and administered in accordance with all applicable statutory requirements as security for Tenant’s faithful performance of all lease terms, covenants and conditions. On the second (2nd) anniversary, the deposit, if it exceeds $100, will be deposited in an interest interest-bearing account. One percent (1%) of the interest will be retained by the Landlord for bookkeeping. The balance of the interest will be paid to the Tenant, as required by Pennsylvania Law. The check will be made payable to all persons signing this lease and mailed to a forwarding address which must be furnished by Tenant Xxxxxx in writing. Rule 6. A $50.00 service fee will be charged on all checks returned due to Non-sufficient insufficient funds or for any other reason. Returned checks will not be re-deposited, unless done automatically by the bank. Tenant must cover the returned check with cash, money order or certified check. Late charges will continue to accrue, retroactive to the 1st of the month until the rent is paid in full.

Rule 5. The security deposit shall be retained by the Landlord and administered in accordance with all applicable statutory requirements as security for Tenant’s faithful performance of all lease terms, covenants and conditions. On the second (2nd) anniversary, the deposit, if it exceeds $100, will be deposited in an interest interest-bearing account. One percent (1%) of the interest will be retained by the Landlord for bookkeeping. The balance of the interest will be paid to the Tenant, as required by Pennsylvania Law. The check will be made payable to all persons signing this lease and mailed to a forwarding address which must be furnished by Tenant in writing. Rule 6. A $50.00 service fee will be charged on all checks returned due to Non-sufficient insufficient funds or for any other reason. Returned checks will not be re-deposited, unless done automatically by the bank. Tenant must cover the returned check with cash, money order or certified check. Late charges will continue to accrue, retroactive to the 1st of the month until the rent is paid in full.