Security Deposit

Renter will be required to provide a security deposit to Owner in the amount of $300 (“Security Deposit”) to be used in the event of loss or damage to the Rental Vehicle during the term of this agreement. Owner may, in lieu of collection of a security deposit, place a hold on a credit card in the same amount. In the event of damage to the Rental Vehicle, Owner will apply the ENTIRE Security Deposit to defray the costs of necessary repairs or replacement. If the cost for repair or replacement of damage to the Rental Vehicle exceeds the amount of the Security Deposit, Renter will be responsible for payment to the Owner of the balance of this cost. Any late returns, physical or mechanical damage whatsoever to the vehicle or smoking in the vehicle will result in complete forfeiture of the deposit. NO EXCEPTIONS.