15. PETS: Pets are permitted on the Premises. They are limited to the following: 1 dog. Tenant shall observe all rules and regulations of Landlord concerning pets, including cleaning up and removal of any pet excrement. Tenant further agrees to control their pets in a manner so as not to disturb or disrupt any other tenant’s quiet enjoyment of their own premises. Tenant must receive written permission from the Landlord for any additional pets desired on premises.
4. SECURITY DEPOSIT: : Upon execution of the lease dated August 30, 2015 Tenants deposited the sum of $1,350.00 held by Landlord, Property Manager as a security deposit for reasonable cleaning of, and repair of damages to, the premises upon the expiration or termination of this Lease, or other reasonable damages resulting from a default by Tenant. Tenant shall be liable to Landlord for all damages to the leased premises upon the termination of this Lease, ordinary wear and tear excepted. Tenant is is not entitled to interest on the security deposit [if tenant is entitled to interest, the rate shall be: n/a . Tenant may not apply the security deposit to any rent due under this Lease. If Landlord sells or assigns the leased premises, Landlord shall have the right to transfer Tenant’s security deposit to the new owner or assignee to hold under this Lease, and upon so doing Landlord shall be released from all liability to Tenant for return of said security deposit. This Lease is not considered to be fully executed until the security deposit has been paid. The lease may be canceled by either party until the security deposit has been paid.
In compliance with Colorado Code § 38-12-103: A landlord shall, within sixty (60) days after the termination of the lease or surrender and acceptance of the premises, whichever occurs last, return to the tenant the full security deposit deposited with the landlord by the tenant. In the event that actual cause exists for retaining any portion of the security deposit, the landlord shall provide the tenant with a written statement listing the exact reasons for the retention of any portion of the security deposit. When the statement is delivered, it shall be accompanied by payment of the difference between any sum deposited and the amount retained. The landlord is deemed to have complied by mailing said statement and any payment required to the last known address of the tenant. Nothing shall preclude the landlord from retaining the security deposit for nonpayment of rent, abandonment of the premises, or nonpayment of utility charges, repair work, or cleaning contracted for by the tenant.