The possession date of the Premises by the Lessee shall be on
Payment Collection and Receipt
- All such payments shall be made by direct deposit or personal check or cashier's check or money order, payable to:
- If payment is made by personal check or cashier's check or money order and is mailed, the postmark date on the envelope including the payment shall serve as the date the Rent was received.
- Any rental payments lost in the mail shall be treated as unpaid until received by the Owner, or Owner's Licensee.
- In the event Rent herein is paid by personal check, the Lessee acknowledges the manner paid shall serve as a receipt.
- Lessee may demand and is entitled to a signed receipt of such rental payment from the Owner, or Owner's Licensee. Lessee shall verify the date noted on the receipt.
- If payment is made by direct deposit, Owner must provide account information to Lessee thereby to set up online bill pay for Rent herein, which is payable in advance and due date is no later than first day of each month.
- If direct deposit, funds must be withdrawn on or before the due date. Bank Hold Funds Regulation CC is availability of funds and collection of checks that allow receiving banks to take two (2) to four (4) days to deposit funds into Owner, or Owner's Licensee financial account. Owner, or Owner's Licensee may first (1st) inquire with the receiving bank no eariler than five (5) business days from the due date if funds are not received, and afterwards may communicate with the Lessee if receiving bank has no evidence of receiving funds.
If Rental Check is Dishonored or Returned Unpaid
- The Rent herein must be made payable to the Owner, or Owner's Licensee, with a cashier's check.
- Any fees charged by the financial institution for a returned item shall be paid by the Lessee on demand by the Owner, or Owner's Licensee.
- Rent shall be considered unpaid until satisfied with a cashier's check.
- All subsequent Rent herein must be made by a cashier's check.
Rental Past Due Date Charge
In the event Lessee does not pay Rent herein upon the due date hereof, the Lessee shall pay to the Owner a late fee in the sum of ten dollars ($10) per day and, if any, other payable charges hereunder, must be added to this Rent herein.
Lessee acknowledges such past due payments shall be reported as past due by the Owner, or Owner's Licensee, if the Lessee intends to use this Agreement as a credit and character reference for any qualification objectives.
