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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">George tells me the paragraph was cut off, here it is again:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black;layout-grid-mode:line">If no default, or event which, with the passing of time or giving of notice would constitute a default, exists under this Lease as of the
end of </span></p>
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<p class="a98d5737-94da-42c1-a5da-73a0c856b655"><span style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: Arial, Helvetica, sans-serif; COLOR: #000000; FONT-SIZE: 10px" class="style1">CONFIDENTIALITY NOTE: The information contained in this transmission may be privileged
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<span style="BACKGROUND-COLOR: #ffffff; FONT-FAMILY: Arial, Helvetica, sans-serif; COLOR: #000000; FONT-SIZE: 10px" class="style1">CIRCULAR 230 NOTICE: To comply with U.S. Treasury Department and IRS regulations, we are required to advise you that, unless expressly
stated otherwise, any U.S. federal tax advice contained in this transmittal, is not intended or written to be used, and cannot be used, by any person for the purpose of (i) avoiding penalties under the U.S. Internal Revenue Code, or (ii) promoting, marketing
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black;layout-grid-mode:line">_________ (__) months after the Commencement Date (the "First Reduction Date"), then Landlord will return $_________ of the Security Deposit
to Tenant, and the remaining $_________ shall continue to be held by Landlord as security for Tenant's obligations under this Lease as provided herein. In addition, if no default, or event which, with the passing of time or giving of notice would constitute
a default, exists under this Lease as of the end of _________ (__) months after the Commencement Date (the "Second Reduction Date"), then Landlord will return an additional $_________ of the Security Deposit to Tenant, and the remaining $_________ shall
continue to be held by Landlord as security for Tenant's obligations under this Lease as provided herein. If a default, or event which, with the passing of time or giving of notice would constitute a default, exists under this Lease as of the First Reduction
Date or the Second Reduction Date, as applicable, so that Tenant is not entitled to the reduction at such time, then the reduction of the Security Deposit may take place once the default or event is cured.</span><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><b><span style="font-size:7.5pt;font-family:"Verdana","sans-serif";color:black">Eric D. Rapkin</span></b><span style="font-size:12.0pt;font-family:"Times New Roman","serif""><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:7.5pt;font-family:"Verdana","sans-serif";color:black">Akerman LLP | Las Olas Centre II, Suite 1600 | 350 East Las Olas Boulevard | Fort Lauderdale, FL 33301-2999</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif""><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:7.5pt;font-family:"Verdana","sans-serif";color:black">Dir: 954.759.8962 | Main: 954.463.2700 | Cell: 305.343.6129 | Fax: 954.847.5350</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif""><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:7.5pt;font-family:"Verdana","sans-serif";color:red">eric.rapkin@akerman.com</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif""><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman","serif""> </span><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> Rapkin, Eric (Ptnr-Ftl)
<br>
<b>Sent:</b> Thursday, April 10, 2014 2:56 PM<br>
<b>To:</b> 'RPPTL Landlord Tenant Committee'<br>
<b>Subject:</b> RE: [RPPTL LandTen] Burn off provision<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:black;layout-grid-mode:line">Here's one possible way to do it, there are definitely other ways (and if it's a commercial lease and the deposit is in the form of a Letter of Credit, there needs to be additional language
to detail how the Letter of Credit will be reduced):<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black;layout-grid-mode:line"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:black;layout-grid-mode:line">If no default, or event which, with the passing of time or giving of notice would constitute a default, exists under this Lease as of the end of _________ (__) months after the Commencement
Date (the "First Reduction Date"), then Landlord will return $_________ of the Security Deposit to Tenant, and the remaining $_________ shall continue to be held by Landlord as security for Tenant's obligations under this Lease as provided herein. In addition,
if no default, or event which, with the passing of time or giving of notice would constitute a default, exists under this Lease as of the end of _________ (__) months after the Commencement Date (the "Second Reduction Date"), then Landlord will return an additional
$_________ of the Security Deposit to Tenant, and the remaining $_________ shall continue to be held by Landlord as security for Tenant's obligations under this Lease as provided herein. If a default, or event which, with the passing of time or giving of
notice would constitute a default, exists under this Lease as of the First Reduction Date or the Second Reduction Date, as applicable, so that Tenant is not entitled to the reduction at such time, then the reduction of the Security Deposit may take place once
the default or event is cured.</span><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:7.5pt;font-family:"Verdana","sans-serif";color:black">Eric D. Rapkin</span></b><span style="font-size:12.0pt;font-family:"Times New Roman","serif""><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:7.5pt;font-family:"Verdana","sans-serif";color:black">Akerman LLP | Las Olas Centre II, Suite 1600 | 350 East Las Olas Boulevard | Fort Lauderdale, FL 33301-2999</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif""><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:7.5pt;font-family:"Verdana","sans-serif";color:black">Dir: 954.759.8962 | Main: 954.463.2700 | Cell: 305.343.6129 | Fax: 954.847.5350</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif""><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:7.5pt;font-family:"Verdana","sans-serif";color:red">eric.rapkin@akerman.com</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif""><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman","serif""> </span><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> landten-bounces@lists.flabarrpptl.org [mailto:landten-bounces@lists.flabarrpptl.org]
<b>On Behalf Of </b>Anthony J. Horky<br>
<b>Sent:</b> Thursday, April 10, 2014 2:34 PM<br>
<b>To:</b> 'RPPTL Landlord Tenant Committee'<br>
<b>Subject:</b> [RPPTL LandTen] Burn off provision<o:p></o:p></span></p>
</div>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Hello Members. Is anyone familiar with a “security deposit burn-off provision”? If so, I’d appreciate it if you could direct me to information regarding such a provision. Thank you.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Regards, <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormalCxSpMiddle" style="margin-left:-6.5pt;mso-add-space:auto"><b>Anthony J. Horky, Esquire<o:p></o:p></b></p>
<p class="MsoNormalCxSpMiddle" style="margin-left:-6.5pt;mso-add-space:auto">Anthony J. Horky, P.A.<o:p></o:p></p>
<p class="MsoNormalCxSpMiddle" style="margin-left:-6.5pt;mso-add-space:auto">2255 Glades Road, Suite 324A<o:p></o:p></p>
<p class="MsoNormalCxSpMiddle" style="margin-left:-6.5pt;mso-add-space:auto">Boca Raton, Florida 33431<o:p></o:p></p>
<p class="MsoNormalCxSpMiddle" style="margin-left:-6.5pt;mso-add-space:auto">T: 561.989.3206<o:p></o:p></p>
<p class="MsoNormalCxSpMiddle" style="margin-left:-6.5pt;mso-add-space:auto">F: 561.989.3204
<o:p></o:p></p>
<p class="MsoNormalCxSpMiddle" style="margin-left:-6.5pt;mso-add-space:auto"><a href="http://www.horkylaw.com">www.horkylaw.com</a><o:p></o:p></p>
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</span><a href="mailto:ahorky@horkylaw.com" target="_blank"><span style="font-size:9.0pt;font-family:"Arial","sans-serif"">ahorky@horkylaw.com</span></a><span style="font-size:9.0pt;font-family:"Arial","sans-serif"">.</span><span style="font-size:9.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-size:9.0pt;font-family:"Arial","sans-serif"">-------------------------------------------------------</span><span style="font-size:9.0pt"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:-4.5pt;text-align:justify"><span style="font-size:9.0pt;font-family:"Arial","sans-serif"">Tax Advice Disclosure: To ensure compliance with requirements imposed by the IRS under Circular 230, we inform you that any U.S.
federal tax advice contained in this communication (including any attachments), unless otherwise specifically stated, was not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2)
promoting, marketing or recommending to another party any matters addressed herein.</span><span style="font-size:9.0pt"><o:p></o:p></span></p>
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