McDonald's Corp. v. Blotnik

Defendants, Peter, Virginia and Frank J. Blotnik (hereinafter sometimes called “Blotniks”), as lessors, on July 25, 1956, executed a 20-year lease with Franchise Realty Corporation, as lessee, to premises on West Jefferson Street in Joliet. The lease term was to commence upon completion of construction. Lessee paid lessor at the time this lease was delivered a security deposit of $9000 refundable at the expiration of 10 years under a covenant of the lease reading as follows:

“6. Lessee has concurrently herewith deposited with the Lessor the amount of $9000, the receipt of which is hereby…