The lessor issues this form to give the tenant up to ten (10) days, either to evacuate the property or to pay the amount due which, if paid, continues the lease as if nothing had happened. The tenant should keep in mind that if he decides to evacuate, it does not mean that he is for the amount of the hook. At the end of the rental period, the deposit must be delivered to the tenant within thirty (30) days to a redirect address indicated. In cases where the property is damaged, unpaid rent / incidental costs or breach of contract, sixty (60) days are granted to the owner for the return of the deposit and an individual account (§ 42-52). Severability clause. Any invalidity found by a court of competent jurisdiction in this Agreement shall have effect only on that provision, but the remainder shall remain effective and enforceable. The North Carolina Rental Application is a document used to verify a tenant interested in signing a legally binding lease. The main point of interest for the lessor is the tenant`s financial information, more specifically his employment and credit history as well as his bank details (including account numbers). The landlord should also ask for references from former property owners/administrators to see if they paid on time when renting. After authorization, the landlord will draft a lease and. Contentious issues. All disputes arising out of this Agreement shall be settled by arbitration. The two Parties to this Agreement shall share equally the legal costs and other expenses.