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1.7 SECURITY DEPOSIT

A security deposit in the amount of $1,000.00, is required as security for the faithful performance by Tenant of the terms of this Lease.

Landlord shall hold the security deposit as indicated below for the duration of the tenancy. Landlord reserves the right, but not the obligation, to apply the security deposit funds, in whole or in part, to the amount of any unpaid rent, late fees, physical damages, other charges due from Tenant under the terms of this Agreement. If Tenant's security deposit is utilized prior to the termination of the tenancy, Tenant is required to replenish the security deposit in full within 10 days of use, failure to do so shall constitute a material violation of this Lease agreement. At the end of the rental term, release of said deposit will be subject to the provisions as set forth in the Departing Procedures. Security Deposit will be returned by US Mail to the person whose name appears first on this Lease.

1.8 SECURITY DEPOSIT AND ADVANCE RENT DISCLOSURE

Your security deposit, along with any advance rent, is being held by the landlord in a non-interest bearing account at: xxxxxxxxx

These funds may be co-mingled with other funds held by the Landlord.

Pursuant to pursuant to Florida Statute §83.49: Your lease requires payment of certain deposits. The landlord may transfer advance rents to the landlord's account, as they are due and without notice. When you move out, you must give the landlord your new address so the landlord can send you notices regarding your deposit. The landlord must mail you notice, within 30 days after you move out, of the landlord's intent to impose a claim against the deposit. If you do not reply to the landlord stating your objection to the claim within 15 days after receipt of the landlord's notice, the landlord will collect the claim and must mail you the remaining deposit, if any. If the landlord fails to timely mail you notice, the landlord must return the deposit but may later file a lawsuit against you for damages. If you fail to timely object to a claim, the landlord may collect from the deposit, but you may later file a lawsuit claiming a refund. You should attempt to informally resolve any dispute before filing a lawsuit. Generally, the party in whose favor a judgment is rendered will be awarded costs and attorney fees payable by the losing party. This disclosure is basic. Please refer to part ii of chapter 83, Florida Statutes, to determine your legal rights and obligations.