Holding Deposit Agreement
Legacy Partners Residential, Inc., a Delaware Corporation, herein after referred to as “Legacy Partners”, and applicant acknowledge that each applicant has paid herewith a non-refundable processing fee submitted with their completed application for residency and agrees to screening as outlined in the Application Criteria. Legacy Partners will also charge a holding deposit to reserve the apartment following application processing. This holding deposit shall not be charged if the applicant is not accepted as a resident or will be refunded to the payer if the application is withdrawn within 72 hours of the date it is submitted. If the application is accepted and subsequently applicant does not move in, the holding deposit shall be retained by Legacy Partners. Upon move in, the holding deposit shall be applied toward any money due toward the lease.