Refundable Security Deposit. A $ refundable security deposit is required upon application for residency which will be held in a separate interest bearing security account which will be refunded upon the Resident’s discharge (minus a 1% administrative fee) provided there is no damage to the apartment and no outstanding balances on Resident’s account at the time of discharge. The Resident has the right to contest any determination regarding damages and monies owed resulting from damages.
Appears in 2 contracts
Sources: Residency Agreement, Residency Agreement