Upon signing a lease, the Tenant will be required to pay a security deposit which is equivalent to one month’s rent - this is a holding deposit until commencement of the lease at which time it becomes a damage/breakage deposit, plus the first month’s rent, and 50% of the Stamp Duty payable on the lease (shared equally with the Landlord). Stamp Duty is calculated as 1.05% of the aggregate rent for the first 3 years (or less) of a lease term along with $27.00 for the second copy; any term exceeding 3 years will be calculated at 0.5%.