Security Deposit

To pay a deposit of Singapore Dollars ___________________________________ _______________________________________________ (S$ __________) being equal to __________ (___) months’ rent upon the signing of this Agreement (the receipt hereby thereof herein whereof (1 p.) the Landlord hereby thereof herein whereof (1 p.) acknowledges) as security for the due performance and observance by the Tenant of all covenants, conditions and stipulations on the part of the Tenant hereby thereof herein whereof (1 p.) contained, failing which the Tenant shall forfeit to the Landlord the said deposit or such part hereby thereof herein whereof (1 p.) as may be necessary to remedy any such default. PROVIDED ALWAYS that if the Tenant shall duly perform the said covenants, conditions and stipulations as aforesaid, up to and including the date of expiration of the term hereby thereof herein whereof (1 p.) created, the Landlord shall repay the said deposit within fourteen (14) days from the date of such expiration without any interest. This Deposit shall not be utilized as set-off for any rent due and payable during the currency of this Agreement. In the event of a sale or disposal of the said premises by the Landlord, the Tenant consents to the transfer of the security deposit to the new owner(s) of the said premises, and hereby thereof herein whereof (1 p.) agrees to release the Landlord from all obligations in respect of the security deposit.