Lessor will return any unapplied portion of the Security Deposit to Lessee within 30 days after termination of this Commercial Lease Agreement. Within 5 days after written notification by Lessor, Lessee will restore the Security Deposit to the full amount required under this Commercial Lease Agreement. If Lessee fails to pay any rent due herein, or otherwise is in default of any provision of this Commercial Lease Agreement, Lessor may, without waiver of others rights or remedies, use, apply or retain all or any portion of the Security Deposit for the payment of any amount due Lessor or to compensate Lessor for any loss or damage suffered by Lessee’s default.
The Security Deposit is not an advance rent payment or a measure of damages under this Lease.
Lessor will not be required to keep the Security Deposit separate from its general funds.
Upon Lessee’s execution of this Lease, Lessee will deposit with Lessor the Security Deposit identified above as security for Lessee’s full performance of every term under this Commercial Lease Agreement.
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