Common use of Clients’ Trust Accounts and Segregation of Security Deposits Clause in Contracts

Clients’ Trust Accounts and Segregation of Security Deposits. Manager shall deposit all receipts collected for the Owner(s) in one or more federally insured clients’ trust account(s), separate from the Manager’s accounts. Manager may set off against any Owner funds in such trust account any amounts which are due to Manager under this Agreement. If the Owner requires personal bank account(s) for their client trust funds, separate from pre existing accounts, Owner agrees to reimburse Manager for all fees associated with maintaining and operating the clients’ trust account including but not SAMPLE limited to the monthly maintenance fees, check order fees and processing fees. All security deposits will be deposited into a separate federally insured clients’ trust account labeled as “Clients’ Trust Account – Security Deposits.” Manager will have no setoff rights as to the security deposits account. Manager is authorized to transfer funds between two or more owner’s ledger accounts maintained for Owner, if at the time of the transfer, Manager enters the transfer information in each of the Owner's affected ledger accounts including, but not limited to, the amount of the transfer, date of the transfer and the source or destination of the transferred funds, as appropriate. At Manager’s option, Owner authorizes Manager to use a bank lockbox process in which the bank collects payments from tenants, creates an electronic record of the transaction, and deposits the payments into the appropriate clients’ trust account by following the written instructions of Manager.

Clients’ Trust Accounts and Segregation of Security Deposits. Manager shall deposit all receipts collected for the Owner(s) in one or more federally insured clients’ trust account(s), separate from the Manager’s accounts. Manager may set off against any Owner funds in such trust account any amounts which are due to Manager under this Agreement. If the Owner requires personal bank account(s) for their client trust funds, separate from pre existing accounts, Owner agrees to reimburse Manager for all fees associated with maintaining and operating the clients’ trust account including but not SAMPLE limited to the monthly maintenance fees, fees and check order fees and processing fees. All security deposits will be deposited into a separate federally insured clients’ trust account labeled as “Clients’ Trust Account – Security Deposits.” Manager will have no setoff rights as to the security deposits account. Manager is authorized to transfer funds between two or more owner’s ledger accounts maintained for Owner, if at the time of the transfer, Manager enters the transfer information in each of the Owner's affected ledger accounts including, but not limited to, the amount of the transfer, date of the transfer and the source or destination of the transferred funds, as appropriate. At Manager’s option, Owner authorizes Manager to use a bank lockbox process in which the bank collects payments from tenants, creates an electronic record of the transaction, and deposits the payments into the appropriate clients’ trust account by following the written instructions of Manager.

Clients’ Trust Accounts and Segregation of Security Deposits. Manager shall deposit all receipts collected for the Owner(s) in one or more federally insured clients’ trust account(s), separate from the Manager’s accounts. Manager may set off against any Owner funds in such trust account any amounts which are due to Manager under this Agreement. If the Owner requires personal bank account(s) for their client trust funds, separate from pre existing accounts, Owner agrees to reimburse Manager for all fees associated with maintaining and operating the clients’ trust account including but not SAMPLE limited to the monthly maintenance fees, check order fees and processing fees. All security deposits will be deposited into a separate federally insured clients’ trust account labeled as “Clients’ Trust Account – Security Deposits.” Manager will have no setoff rights as to the security deposits account. Manager is authorized to transfer funds between two or more owner’s ledger accounts maintained for Owner, if at the time of the transfer, Manager enters the transfer information in each of the Owner's affected ledger accounts including, but not limited to, the amount of the transfer, date of the transfer and the source or destination of the transferred funds, as appropriate. At Manager’s option, Owner authorizes Manager to use a bank lockbox process in which the bank collects payments from tenants, creates an electronic record of the SAMPLE transaction, and deposits the payments into the appropriate clients’ trust account by following the written instructions of Manager.

Clients’ Trust Accounts and Segregation of Security Deposits. Manager shall deposit all receipts collected for the Owner(s) in one or more federally insured clients’ trust account(s), separate from the Manager’s accounts. Manager may set off against any Owner funds in such trust account any amounts which are due to Manager under this Agreement. If the Owner requires personal bank account(s) for their client trust funds, separate from pre existing accounts, Owner agrees to reimburse Manager for all fees associated with maintaining and operating the clients’ trust account including but not SAMPLE limited to the monthly maintenance fees, fees and check order fees and processing fees. All security deposits will be deposited into a separate federally insured clients’ trust account labeled as “Clients’ Trust Account – Security Deposits.” Manager will have no setoff rights as to the security deposits account. Manager is authorized to transfer funds between two or more owner’s ledger SAMPLE accounts maintained for Owner, if at the time of the transfer, Manager enters the transfer information in each of the Owner's affected ledger accounts including, but not limited to, the amount of the transfer, date of the transfer and the source or destination of the transferred funds, as appropriate. At Manager’s option, Owner authorizes Manager to use a bank lockbox process in which the bank collects payments from tenants, creates an electronic record of the transaction, and deposits the payments into the appropriate clients’ trust account by following the written instructions of Manager.