Common use of Accounts, Records, and Monthly Statements Clause in Contracts

Accounts, Records, and Monthly Statements. Manager shall keep complete and detailed accounts and records of its property management activities relating to the Property in accordance with Oregon laws and REA Rules. Such records shall include, without limitation, a separate Owner’s ledger with reference to Manager’s receipts and disbursements with respect to the Property. When funds from more than one property are deposited into a Clients’ Trust Account, each entry for a receipt or disbursement shall be identified with the code assigned by the Manager to the corresponding property management agreement with an owner. Manager will keep such records in its standard format; Manager will provide reports in any non-standard format requested by Owner at an additional charge. Manager shall account for all checks, including voided checks, as part of Manager’s record keeping obligation under this Agreement. Manager shall reconcile all Clients’ Trust Accounts at least once per month. Such reconciliation shall comply with applicable REA Rules. Owner shall have reasonable access to such accounts and records during Manager’s regular business hours upon reasonable notice to Manager. Manager shall retain and store all records required by this Agreement for a period of six (6) years from and after termination or expiration of this Agreement and will destroy those records after that time. Such storage shall comply with applicable REA Rules. On or before the last day of each month during the Term, Manager shall deliver a financial report to Owner. Upon expiration or earlier termination of this Agreement, Manager shall turn over the records and accounts if, and as, required by Oregon law and REA Rules.

Accounts, Records, and Monthly Statements. Manager shall keep complete and detailed accounts and records of its property management activities relating to the Property in accordance with Oregon laws and REA Rules. Such records shall include, without limitation, a separate Owner’s 's ledger with reference to Manager’s 's receipts and disbursements with respect to the Property. When funds from form more than one property are deposited into a Clients’ ' Trust Account, each entry for a receipt or disbursement shall be identified with the code assigned by the Manager to the corresponding property management agreement with an owner. Manager will keep such records in its standard format; Manager will provide reports in any nonreasonably-available, non- standard format requested by Owner at an additional charge. Manager shall account for all checks, including voided checks, as part of Manager’s record 's record-keeping obligation under this Agreement. Manager shall reconcile all Clients’ ' Trust Accounts at least once per month. Such reconciliation shall comply with applicable REA Rules. Owner shall have reasonable access to such accounts and records during Manager’s 's regular business hours upon reasonable notice to Manager. Manager shall retain and store all records required by this Agreement for a period of six (6) years from and after termination or expiration of this Agreement Agreement, and will destroy those records after that timetime unless otherwise requested by Owner in writing prior to that destruction date. Such storage shall comply with applicable REA Rules. On or before the that last day of each month during the Term, Manager shall deliver a financial report to Owner. Upon expiration or earlier termination of this Agreement, Manager shall turn over the records and accounts if, and as, as required by Oregon law and REA Rules. Manager assumes, and shall have, no liability for loss of records due to fire, flood or other causes beyond Manager's reasonable control.