(4) Upon the execution of this Agreement, the Lessee deposits with the Lessor 36000.- (thrity-six thousand) (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, 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.
(5) The Lessee shall have the option to renew this agreement for an additional period up to twelve (12) months under the new rental, terms and conditions hereof. Such option shall be exercised by sending a notice in writing to the Lessor not less than thirty (30) days prior to the expiration of the term of this agreement.
(6) After the lease termination or lease expiry, if the Lessee fails to repair or maintain the Premises in good condition, wear and tear excepted, within the period prescribed by the Lessor to any parts of the Premises, the Lessor shall have the right to repair or maintain the Premises by herself by disbursing all incurred costs from the security deposit. Should the costs for repair and/or maintenance of the premises is higher than the amount of the Deposit retained by the Lessor, the Lessee shall reimburse any amount of repair and/or maintenance costs in excess of the Deposit to the Lessor within twenty (20) days after receiving an advance written notice from the Lessor.