Security Instrument is generally a written instrument creating a valid first lien on a Mortgaged Property securing a Mortgage Note, which may be any applicable form of mortgage, deed of trust, deed to secure debt or security deed, including any riders or addenda thereto.
If you're scratching your head over any part of it, it's best to chat with your landlord or seek legal advice to clear things up.
Yep! If you’re renting a home in Aurora, this addendum is a must-have to keep everything above board.
If there are damages, the landlord might keep part or all of your deposit to cover the costs of repairs, but they should provide you a breakdown of those costs.
Absolutely! As long as you follow the rules laid out in the addendum and leave the place in good shape, you should see your deposit returned.
It's important because it protects both landlords and tenants; it clarifies how security deposits are handled and what happens if there's damage.
It's a document that lays out the rules for security deposits in rental agreements in Aurora, making sure everyone knows what's expected.