This Deposit Agreement forms part of your Rental Application for Erie
Station Village. A deposit equal to one month’s rent is due at the time you
submit your Application. If we approve your Application and enter into a
Lease Agreement, we will keep your deposit and treat it as your security
deposit under the Lease. If we do not approve your Application, we will keep
$50 of your deposit as an application fee and return the balance to you.
Once we approve your Application, you still have 48 hours to change
your mind and request a return of your deposit. If you notify us within
this 48-hour period that you do not want to sign a Lease Agreement, we
will retain $50 of your deposit as a processing fee and return the balance
of your deposit to you. If you notify us after this 48-hour period has
passed that you will not enter into a Lease, we will retain the full deposit
received along with this Application and will release you from any further
obligation to us.
If, after reviewing your Application, we inform you that we cannot
approve it unless you provide a guarantor, you may withdraw your
Application and receive a refund of your deposit less $50, which we will
keep as an application fee. If you agree to provide a guarantor you must do
so within three business days or you will forfeit your entire deposit.
Our acceptance of your deposit under this Deposit Agreement does
not constitute our approval of your Application or an agreement to enter
into a Lease with you.
