Common use of APPLICATION DEPOSIT Clause in Contracts

APPLICATION DEPOSIT. A deposit of $100 is due at the time an application for residence is submitted to Graduate House. This deposit is refundable to the applicant up until the point that an Offer of Residence is made. If the applicant does not accept this offer or does not respond, the Application Deposit is forfeited and the application is cancelled. If the applicant accepts the Offer of Residence, this amount will be put towards their last month’s Occupancy Fee;