This office lease clause states that the amount of the security deposit shall be increased to reflect the increase in Base Rent. The Owner shall at all times have and maintain two full months' Base Rent as security.
North Dakota Clause Providing for the Periodic Increase in the Tenant Security to Reflect Increases in Base Rent
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US-OL4A012A
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FAQ
Security deposits from the tenant in residential dwelling units shall be deposited in a trust account with a licensed and federally insured depository institution or a trust institution authorized to do business in this State, or the landlord may, at the landlord's option, furnish a bond from an insurance company ...
The landlord is allowed to adjust the security deposit amount when rent has not been paid or intentional damage has been made to the property. The landlord should refund the balance to the tenant when the property is being vacated.
Rent and Fees Late Fees: There is no statutory limit on late fees in North Dakota. Grace Period: There is no mandatory grace period in North Dakota. NSF/Bounced Check Fee Maximum: If the tenant's rent check bounces, the landlord may charge any collection fees or costs less than or equal to $40 (NDC § 6-08-16).
An escalator clause in a lease provides for an increase in payments based on an increase in an index such as the consumer price index (CPI) or the wholesale price index (WPI).
A commercial escalation clause is always included in commercial real estate leases. It allows the landlord to increase the rate of your rent ing to a specific timeline or ing to certain triggers included in the clause.
A graduated lease is an agreement under which a tenant and landlord agree to a periodic adjustment of monthly payments. For example, the agreement may reflect an increase in the tenant's payments due to market conditions or an increase in the value of the leased property.
Most commercial leases contain a rent escalation clause that explains how and when the tenant's rent will increase during the lease term.
