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payment for that month (hereinafter referred to as the “Due Date”). Weekends and
holidays do not delay or excuse Tenant’s obligation to pay Rent on time.
A. Late Fee. If rent is not paid by the due date outlined in this lease, a late fee of
___% or $___ will be assessed to the balance, to be paid before the next rent
payment is due.
B. Returned Checks. In the event that any payment by Tenant is returned for
insufficient funds ("NSF") or if Tenant stops payment, Tenant will pay
$____________ to Landlord for each such check, plus late Rent penalties, as
described above, until Landlord has received payment.
C. Order in which Funds are Applied. The landlord will apply all funds received
from Tenant first to any non-rent obligations of Tenant, including late charges,
returned check charges, charge-backs for repairs, brokerage fees, and
periodic utilities, then to Rent, regardless of any notations on a check.
D. Rent Increases. There will be no rent increases through the Term of the
Lease. If this Lease is renewed automatically on a month-to-month basis,
Landlord may increase the rent during the renewal period by providing
written notice to Tenant that becomes effective the month following the ____
day after the notice is provided.
SECURITY DEPOSIT. Upon execution of this Lease, Tenant shall deposit with
Landlord the sum of $____________ (hereinafter referred to as the “Security Deposit”)
receipt of which is hereby acknowledged by Landlord, as security for any damage
caused to the Property during the term hereof. The landlord may place the Security
Deposit in an interest-bearing account and any interest earned will be paid to
Landlord.
A. Refunds. Upon termination of the tenancy, all funds held by the landlord as a
Security Deposit may be applied to the payment of accrued rent and the
number of damages that the landlord has suffered by reason of the tenant's
noncompliance with the terms of this Lease or with any and all laws,
ordinances, rules, and orders of any and all governmental authorities affecting
the cleanliness, use, occupancy, and preservation of the Property.
B. Deductions. The landlord may deduct reasonable charges from the Security
Deposit for unpaid rent; late charges; costs of reletting, if Tenant is in default;
unpaid utilities; replacing unreturned keys, garage door openers, or other
devices; costs of cleaning and repairing the Property and its contents for
which tenant is responsible; pet violations; removal of unauthorized locks or
fixtures; removing abandoned or illegally parked vehicles; attorney fees and
costs of court incurred in any proceeding against Tenant. If deductions exceed
the Security Deposit, Tenant will pay Landlord the excess amount within ten
(10) days after Landlord makes written demand. The Security Deposit will be
applied first to any non-rent items, including late charges, returned check
charges, repairs, brokerage fees, and periodic utilities, then to any unpaid rent.