Upon Tenants office move-out date, July 25th of 2017, the Landlord will inspect and document the

condition of the
Tenants living quarters. Within 60 days of the end of this Lease agreement, if the Tenant has supplied the Landlord with
a forwarding address, the Landlord will do one of two things.

1. If the Tenant has complied with all terms of this Lease and returns the living quarters to the Landlord in the same
good condition as when Tenant moved into the apartment, the Landlord will return the $ Insert Security Deposit
Amount plus any interest earned.

2. The Landlord will provide the Tenant with a written notice including an itemized list as to why the full Security Deposit
amount is not being returned to the tenant and a check for any remaining Security Deposit owed to the Tenant after the
allowed deductions have been made.

The Landlord may use as much of the Security Deposit as necessary to pay for damages resulting from the Tenants
move-in, occupancy or move-out and demand that the Tenant replace the amount of the Security Deposit used by the
Landlord.

If a tenant that move out and sublease their room, they must forfeit half of their security deposit, $____, until the
remainder of the lease, or if the lease is terminated. This half of the deposit will be held by _____________________
until the landlord provides a detailed report of the living quarters, and the deductions made to the security deposit.
When this report is given to ______________________, they will then split up the security deposit using the following
methods.

1. The security deposit will be split up 5 ways equally.

2. 75% of the 1/5th portion will be paid by the original tenant using the withheld security deposit they forfeited
when the tenant subleased their room.
3. Any damages directly caused by the original tenant will be responsible for payment with their security deposit
4. Any damages caused after the original tenant subleased their room, will be paid by the new tenant

All deductions from the forfeited security deposit must be in result from the landlords report and must provide the
report when the security deposit is returned.

Example of how the security deposit will be handled at the termination of the lease

Total security deposit $2400 - $400 (cleaning fee as reported by the landlord) = $2000.

$2000 / 5 = $400.

$480 (initial security deposit) - $400 (Security deposit after deductions) = $80

$80 X 75% = $60, is the amount the original tenant will pay, $20 is the amount that the replacement tenant would pay

Additional Clauses:
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(Signatures) (Printed Names) (Todays Date)

Original Tenant:___________________________ Print:______________________________ Date: ____________

Leased Tenant:____________________________ Print:______________________________ Date: ____________

Witness:__________________________________Print:______________________________ Date: ____________