Question
Question 3: Next you see the following on the lease agreement: SECURITY DEPOSIT. In addition to the above, a deposit in the amount of seven
Question 3: Next you see the following on the lease agreement: SECURITY DEPOSIT.
In addition to the above, a deposit in the amount of seven thousand five hundred dollars ($ 7,500) - one month's rent - shall be due and payable in advance or at the signing of this Lease, hereinafter referred to as the "Security Deposit", and shall be held in escrow by the Landlord in a separate, interest-bearing savings account as security for the faithful performance of the terms and conditions of the Lease. The Security Deposit may not be used to pay the last month's rent unless written permission is granted by the Landlord. From the information above, is this a new term? No Yes
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