This form is a tenant oriented office lease clause that states that the amount of the security deposit shall be reduced from 4 months' Base Rent to 3 months' Base Rent provided that certain lease conditions are met by the lessee.
Wyoming Tenant Oriented Clause Providing for the Reduction of the Tenant Security Deposit
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US-OL4A012C
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How to fill out Tenant Oriented Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
The Lease Deposit shall be held by Lessor as security for the performance by Lessee of Lessee's covenants and obligations under the Lease. The Lease Deposit shall not be considered an advance payment of rental or a measure of Lessor's damages in case of default by Lessee.
A deposit agreement form, also called a bank deposit agreement or a bank investment contract (BIC), is a legal contract between a bank and an investor. In this contract, the investor agrees to keep a deposit for a fixed amount of time in exchange for a guaranteed rate of return from the bank.
A security deposit agreement is an agreement between a landlord and a tenant where the tenant deposits a specific amount of money with the landlord at the time the lease is signed. This security deposit is usually an amount between and three months of rent.
A Security Deposit Receipt provides proof that payment of a security deposit was made and received by the landlord, and it documents the amount that was paid, when it was paid, who made the payment, and the method of payment.
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.
The terms of a property lease contract typically require the lessee to provide a security deposit to the lessor. The security deposit is held by the lessor throughout the term of the lease and carries no, or a low rate of, interest.
Wyo. Stat. § 1-21-1208. Return of Security Deposit: A landlord is required to return the remaining balance (without interest) of the security deposit within 30 days of the termination of the lease or eviction, or within 15 days of the tenant notifying the landlord of the tenant's new address, whichever is longer.
Lessee shall pay to Lessor simultaneously with the execution of this Lease Agreement a sum zero and 00/100 Dollars ($0,000.00) (the ?Security Deposit?) as security for the full and faithful performance by Lessee of each and every term, covenant and condition of this Lease Agreement.
