This document outlines the terms of a rental agreement between two parties. It specifies that the earnest money paid will become a security deposit. It details the rental amount and payment schedule, including a 1% penalty per day for late payments over 15 days. It also covers the security deposit amount, terms for refunding it upon expiration of the lease contingent on the premises being left in good condition, and provisions for deducting amounts from the deposit for penalties or damages. Finally, it states that the renter is responsible for utilities and other fees during the lease term.