The term 'Security Deposit Payer' is referring to a LESSEE, which is someone who rents or leases a property from a landlord. A LESSEE is responsible for paying the security deposit, which is an amount of money that is held by the landlord as a form of protection against any damage to the property during the lease period. The security deposit is usually refundable at the end of the lease period, provided that the property is in the same condition as when the LESSEE moved in.