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Security Deposit Clause

The Tenants shall pay the Landlord a security deposit equal to $[deposit]. The security deposit shall be held by the Landlord as security for payment of all rent and other amounts due from the Tenants to the Landlord, for the performance of the Tenantsí obligations under this Lease, and against any damages caused to the Premises by the Tenants or their invitees or licensees to the Premises. The Tenants understand and agree that the security deposit may not at their option be applied as rent or against any other amount due from the Tenants to the Landlord and that the monthly rent will be paid each month including the last month of the lease term. Assuming all obligations of the Tenants have been paid and the Tenants are not in breach of any of the terms of this Lease, then upon expiry or termination of this Lease the security deposit shall be returned to the Tenants in accordance with applicable law. In the event all obligations of Tenants have not been paid, the security deposit will be returned to the Tenants less deductions in accordance with applicable law.