In consideration for holding the property at , hereafter referred to as "Property".
Landlord, Park Place Property Management, and Applicant understand and agree that the following terms and conditions govern:
- Rent shall be payable in advance on the first day of each and every calendar month. Tenancy of Property will begin no later than 14 calendar days of this payment, subject to the conditions below.
- Applicant will pay the holding deposit of 50% of entire security deposit or amount explicitly stated and approved by Landlord of: $.
The holding deposit will be paid to Landlord in the form of electronic payment. The Landlord is free to deposit all funds herein received in an account of Landlord's choosing.
- Applicant shall be entitled to a full refund of the holding deposit within 3 business days if:
- The Landlord does not approve the Applicant's rental application, or
- the Property is not available for occupancy within 3 business days of lease start date.
The return of the holding deposit to Applicant shall be accomplished by refunding the account or card by which the payment was made.
- Upon notification to Applicant by Landlord that his/her rental application is accepted, Applicant agrees to execute the lease and all related documents and pay any balance still owed for the first month's rent, security deposit and/or other fees charged by Landlord in connection with Applicant's application or lease agreement. Applicant understands that once approved, the Property is being taken off the market and will be reserved for Applicant, and any other applicants who may approach the landlord about said Property will be turned away.
- If, after acceptance of Applicant's rental application, Applicant fails to comply with these terms, Landlord may immediately retain the holding deposit herein collected, which amount is hereby agreed to be reasonable to compensate Landlord for its administrative and advertising expenses associated with the remarketing of the Property and to compensate Owner for the costs associated with the extended vacancy and/or loss of potential tenants. Applicant agrees that the holding deposit herein is a reasonable liquidated damage since the actual damages would be difficult or impossible to quantify.
- If Landlord takes action (by itself or through its representatives) to enforce any of the provisions of this Agreement, including collection of any amounts due hereunder, in addition to all sums to which it is entitled or any other relief, at law or in equity, Landlord shall be entitled to recover from Applicant, and Applicant agrees to pay, Landlord's attorney's fees and all costs of any litigation.
- This Agreement shall be governed by the laws of the State of Idaho. Any claim or cause of action arising as a result of this Agreement may only be brought in the state or federal courts located in Ada County, Idaho. Applicant further agrees to submit to the exclusive jurisdiction of such courts.