CONTRACT OF DEPOSIT Security Deposit Agreement Date Accepted: Receipt is hereby acknowledged by ___________________________ hereinafter called Owner, from _________________________ hereinafter called Resident, the sum of ___________________________________ for the Security against default and damage of Unit 10 located at Southeast of Rizal St. San Fernando City, La Union. The resident may not, without Owner’s prior written consent, apply this security deposit to the last month’s rent or to any other sum due under this agreement. Owner, may, in his discretion, apply part or all of this security towards unpaid rents, late charges or any other charges due on the annexed lease agreement. Within 90 days after Residents has vacated the premises in broom clean condition, removed all personal effects and rubbish, returned keys and provided Owner with a forwarding address, Owner will give Resident an itemized written statement of the reasons for, and the dollar amount of, any of the security deposit retained by the Owner, along with a check for any deposit balance.
