Upon the execution of this Agreement, the Lessee deposits with the Lessor _______.- (_______________) (hereinafter referred to as the Security Deposit). The Deposit shall be returned to the Lessee without interest within forty-five (45) days after the date of termination or lease expiry, provided that the Lessee yielding up the premises in good and tenantable condition after deducting all unpaid amounts of all bills to be paid by the Lessee (e.g. electricity, water supply, gas, cable television monthly fee, internet subscription fee, and telephone bills). However, should any damage other than normal wear and tear has been caused to the premises, the Lessor shall be entitled to retain all or part of The Deposit depending on the extent of the damages incurred. The Deposit shall not be regarded as advance payment on the rent payable to the Lessor.
Upon the execution of this Agreement, the Lessee deposits with the Lessor _______.- (_______________) (hereinafter referred to as the Security Deposit). The Deposit shall be returned to the Lessee without interest within forty-five (45) days after the date of termination or lease expiry, provided that the Lessee yielding up the premises in good and tenantable condition after deducting all unpaid amounts of all bills to be paid by the Lessee (e.g. electricity, water supply, gas, cable television monthly fee, internet subscription fee, and telephone bills). However, should any damage other than normal wear and tear has been caused to the premises, the Lessor shall be entitled to retain all or part of The Deposit depending on the extent of the damages incurred. The Deposit shall not be regarded as advance payment on the rent payable to the Lessor.
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