Common use of DUTIES OF LESSOR Clause in Contracts

DUTIES OF LESSOR. 16.1 The Lessor will furnish the Lessee, if requested by the Lessee, with a written receipt of all payments received by the Lessor from the Lessee. Such receipt will be dated and clearly indicate the Property in respect of which payment is made, the reason for payment, and the period for which the payment has been made. 16.2 The Lessee and Lessor will jointly inspect the Property in order to ascertain the existence of any defects or damage thereto. Such inspections will be conducted within 7 (seven) days after the Commencement Date and again within 7 (seven) days prior to the Termination Date. 16.3 Upon the termination of the lease, the Lessor may apply the deposit towards the payment of all amounts for which the Lessee is liable under this lease, including arrears rental, charges, and the reasonable cost of repairing damage to the premises that was sustained during the lease period, as well as the cost of replacing lost keys and gate security remotes. 16.4 Should no amounts be due to the Lessor in terms of the lease, or otherwise, the deposit must be refunded to the Lessee within 20 (twenty) business days after the restoration of the Property to the Lessor. 16.5 Should the Lessee fail to respond to the Lessor’s request for an outgoing inspection, the Lessor will be entitled, upon termination of the lease, to unilaterally inspect the Property in order to assess any damage or loss incurred during the Lessee’s tenancy. The Lessor’s assessment shall be final and binding on the Lessee.