Pre-Lease Deposit Agreement


by making application and paying monies to Owner in the form of a Pre-Lease Deposit and Application Fee(s) agrees to the
following terms regarding the handling of the Pre-Lease deposit. No other oral agreements have been made:

1. Application Fee: Applicant(s) have paid the sum of as a non-refundable fee for the cost of processing the application(s). The application fee must be a separate check from the Pre-Lease Deposit.

2. Pre-Lease Deposit: In addition to the above application fee, the Applicant(s) have deposited the sum of
in consideration for taking the home off the market while processing the application. The PreLease Deposit is not a security deposit at this time. The Pre-Lease Deposit does not obligate the Owner to execute a lease.

3. Where The Applicant Is Approved: We will notify you (or one of you if there is more than one applicant) of the
approval. Notification of approval to one applicant is considered notice to all applicants.

4. Where The Applicant Is Approved With Additional Requirements: Additional security deposit or a Lease Guarantor
may be required for approval. If additional requirements are necessary, we will notify you (or one of you if there is
more than one applicant) of the additional considerations required for approval. The Applicant(s) will have 24 hours
from the time of notification of the additional requirements to make a decision to accept the terms and proceed
with the lease agreement, or withdraw the application and receive a refund of the Pre-Lease Deposit.

5. Lease Signing: Applicant(s) agree to execute a written lease agreement upon approval and prior to occupancy of
premises, and to comply with all reasonable Rules and Regulations included or as set forth from time to time by
Owner of said property. Please provide the email address on the Application through which you prefer to receive
communications from us. In particular, we may present our lease documents to you for signature electronically. If
we do so, you will receive an email with a link to your lease. An electronic signature is enforceable and replaces
traditional pen and paper lease.

6. Pre-Lease Deposit Will Be Cashed And Credited Towards The Security Deposit upon approval of Application and
receipt of signed lease agreement.

7. Where The Applicant Is Not Approved: If the application is not accepted by Owner, for reasons other than
Applicant(s) supplying false or misleading information any Pre-Lease Deposits paid herein shall be returned within
seven days upon notification that the application has not been accepted.

8. Where The Applicant Is Not Approved Due To Falsification, Omission Or Misleading Information On The
Application: the Pre-Lease Deposit will be forfeited per Minnesota Statute § 504B.173, subd. 4 (b), which states: a
prospective tenant who provides materially false information on the application or omits material information
requested is liable to the landlord for damages, plus a civil penalty of up to $500, civil court filing costs, and
reasonable attorney fees.

Applicant Signature________________________Date_________ Received By: _________________Date_______
Agent for Park Avenue of Wayzata, Inc.
Applicant Signature_________________________ Date_________
Address Desired________________________
Applicant Signature_________________________ Date__________ rev. 3.15
THE APPLICANT HAS 72-HOURS FROM THE TIME OF APPLICATION SUBMISSION TO WITHDRAW
To withdraw the application: Notice of withdraw must be received in writing, by dropping off a written notice to the
community office, sent via e-mail to info@parkavenuerentals.com or sent via facsimile to 952-475-9015. Any
notification of withdraw or cancellation from one applicant is considered notice from all applicants.
Failure to withdraw application after 72 hours OR failure to sign the lease agreement after approval. The Pre-Lease
Deposit will be forfeited by applicant(s) as liquidated damages for loss of marketing time while the home was off the

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