(4)(a) If a tenant decides to pay a fee in lieu of a security deposit, a written agreement to collect the fee must be signed by the landlord, or the landlord’s agent, and the tenant. The written agreement may not contain any clause that contradicts s. 83.45 or s. 83.47. The written agreement must, at a minimum, specify all of the following:
1. The amount of the fee, which may not be increased during the term of the rental agreement.
2. How and when the fee is to be collected.
3. The process and timeframe during which a tenant must pay the security deposit specified in the rental agreement if the tenant defaults on paying the fee, and that such default will not adversely affect the tenant’s credit rating if the security deposit is timely paid.
4. That the written agreement may be terminated at any time as long as the tenant pays the amount of the security deposit specified in the rental agreement.
5. If the tenant pays the amount of the security deposit specified in the rental agreement, then the tenant’s default on paying the fee or termination of the written agreement may not adversely impact the tenant’s credit report.
(b) The written agreement specified under paragraph (a) must also include a disclosure in substantially the following form:
FEE IN LIEU OF SECURITY DEPOSIT
THIS FEE IS NOT A SECURITY DEPOSIT AND PAYMENT OF THE FEE DOES NOT ABSOLVE THE TENANT OF ANY OBLIGATIONS UNDER THE RENTAL AGREEMENT, INCLUDING THE OBLIGATION TO PAY RENT AS IT BECOMES DUE AND ANY COSTS AND DAMAGES BEYOND NORMAL WEAR AND TEAR WHICH THE TENANT OR HIS OR HER GUESTS MAY CAUSE.
THE TENANT MAY TERMINATE THIS AGREEMENT AT ANY TIME AND STOP PAYING THE FEE AND INSTEAD PAY THE SECURITY DEPOSIT AS PROVIDED IN SECTION 83.491, FLORIDA STATUTES.
THIS AGREEMENT HAS BEEN ENTERED INTO VOLUNTARILY BY