Common use of Collection of Revenues and Lease Enforcement Clause in Contracts

Collection of Revenues and Lease Enforcement. (i) Manager shall use diligent efforts to demand, collect and receive (A) all rents, utility charges, common area charges, insurance charges, and real estate and personal property tax and assessment charges, (B) all other pass-through or xxxx-back charges, sums, costs or expenses of any nature whatsoever payable by Tenants under the terms of any or all of the Leases and any other agreements relating to all or any portion of any Property, including, without limitation, any method of calculating a resident’s utility xxxx based on factors such as occupancy rate or square footage that may be implemented, and (C) all other revenues, issues and profits accruing from any Property (including, without limitation, any and all license, service or other agreements affecting such Property). All monies so collected shall be deposited into the applicable Property Account in accordance with the terms of this Agreement. (ii) Manager may terminate any Lease, lock out a Tenant, institute suit relating to use and occupancy, or proceedings for recovery of possession, or take any other material legal action in connection with each Property in accordance with the terms of Section 4.2(a) hereof. All out-of-pocket legal expenses incurred by Manager in bringing any suit or proceeding in accordance with the terms of Section 4.2(a) hereof shall be for Owner’s account and at the Owner’s expense. (iii) Security deposits (whether they are cash, letters of credit, securities or any other form) shall be maintained by Manager in accordance with all Legal Requirements and the applicable terms of the Lease to which such security pertains. A separate account, or one or more separate accounts, shall be opened by Manager (hereinafter the “Security Deposit Account”), in accordance with the terms hereof. The Security Deposit Account shall be maintained in accordance with Legal Requirements and, shall be with an FDIC-insured banking institution reasonably acceptable to Owner. The Security Deposit Account shall be used only for maintaining Tenant security deposits. The depository shall be informed that the funds are held in trust for Owner. Manager may not under any circumstances write a check on the Security Deposit Account payable to or in favor of Manager or any Affiliate of Manager. Manager shall maintain detailed records of all security deposits relating to each Property. To the extent permitted under Legal Requirements, any interest credited to the Security Deposit Account from time to time shall be paid to Owner. Notwithstanding anything herein contained to the contrary, Manager may, in its reasonable discretion, access and use the security deposits, including funds held in the Security Deposit Account, for the payment of any of the costs and expenses incurred in accordance with the Approved Annual Business Plan and Budget as described in Section 3.4(a) of this Agreement (subject to any Permitted Variances) without Owner’s prior written approval so long as such amounts are properly booked and recorded and such records are open for inspection at Manager’s office, at reasonable times, by Owner’s employees and agents. Such access and use of the security deposits shall not relieve Manager of its duties and obligations to comply with all Legal Requirements regarding security deposits and the applicable terms of the Lease to which security pertains. Manager shall not collect any rents, charges, or revenues more than one (1) month in advance of when the same shall be due and payable under any Lease (except to the extent such advance payment is otherwise approved by Owner in writing).

Collection of Revenues and Lease Enforcement. (i) Manager shall use diligent efforts to demand, collect and receive (A) all rents, utility charges, common area charges, insurance charges, and real estate and personal property tax and assessment charges, (B) all other pass-through or xxxx-back charges, sums, costs or expenses of any nature whatsoever payable by Tenants under the terms of any or all of the Leases and any other agreements relating to all or any portion of any PropertyProperty (except for any Master Lease), including, without limitation, any method of calculating a resident’s utility xxxx based on factors such as occupancy rate or square footage that may be implemented, and (C) all other revenues, issues and profits accruing from any Property (including, without limitation, any and all license, service or other agreements affecting such Property). All monies so collected shall be deposited into the applicable Property Account in accordance with the terms of this Agreement. (ii) Manager may terminate any Lease, lock out a Tenant, institute suit relating to use and occupancy, or proceedings for recovery of possession, or take any other material legal action in connection with each Property in accordance with the terms of Section 4.2(a) hereof. All out-of-pocket legal expenses incurred by Manager in bringing any suit or proceeding in accordance with the terms of Section 4.2(a) hereof shall be for Owner’s account and at the Owner’s expense. (iii) Security deposits (whether they are cash, letters of credit, securities or any other form) shall be maintained by Manager in accordance with all Legal Requirements and the applicable terms of the Lease to which such security pertains. A separate account, or one or more separate accounts, shall be opened by Manager (hereinafter the “Security Deposit Account”), in accordance with the terms hereof. The Security Deposit Account shall be maintained in accordance with Legal Requirements and, shall be with an FDIC-insured banking institution reasonably acceptable to Owner. The Security Deposit Account shall be used only for maintaining Tenant security deposits. The depository shall be informed that the funds are held in trust for Owner. Manager may not under any circumstances write a check on the Security Deposit Account payable to or in favor of Manager or any Affiliate of Manager. Manager shall maintain detailed records of all security deposits relating to each Property. To the extent permitted under Legal Requirements, any interest credited to the Security Deposit Account from time to time shall be paid to Owner. Notwithstanding anything herein contained to the contrary, Manager may, in its reasonable discretion, access and use the security deposits, including funds held in the Security Deposit Account, for the payment of any of the costs and expenses incurred in accordance with the Approved Annual Business Plan and Budget as described in Section 3.4(a) of this Agreement (subject to any Permitted Variances) without Owner’s prior written approval so long as such amounts are properly booked and recorded and such records are open for inspection at Manager’s office, at reasonable times, by Owner’s employees and agents. Such access and use of the security deposits shall not relieve Manager of its duties and obligations to comply with all Legal Requirements regarding security deposits and the applicable terms of the Lease to which security pertains. Manager shall not collect any rents, charges, or revenues more than one (1) month in advance of when the same shall be due and payable under any Lease (except to the extent such advance payment is otherwise approved by Owner in writing).

Collection of Revenues and Lease Enforcement. (i) Manager shall use diligent efforts to demand, collect and receive (A) all rents, utility charges, common area charges, insurance charges, and real estate and personal property tax and assessment charges, (B) all other pass-through or xxxx-back charges, sums, costs or expenses of any nature whatsoever payable by Tenants under the terms of any or all of the Leases and any other agreements relating to all or any portion of any Property, including, without limitation, any method of calculating a resident’s utility xxxx based on factors such as occupancy rate or square footage that may be implemented, and (C) all other revenues, issues and profits accruing from any Property (including, without limitation, any and all license, service or other agreements affecting such Property). All monies so collected shall be deposited into the applicable Property Account in accordance with the terms of this Agreement. (ii) Manager may terminate any Lease, lock out a Tenant, institute suit relating to use and occupancy, or proceedings for recovery of possession, or take any other material legal action in connection with each Property in accordance with the terms of Section 4.2(a) hereof. All out-of-pocket legal expenses incurred by Manager in bringing any suit or proceeding in accordance with the terms of Section 4.2(a) hereof shall be for Owner’s account and at the Owner’s expense. (iii) Security deposits (whether they are cash, letters of credit, securities or any other form) shall be maintained by Manager in accordance with all Legal Requirements and the applicable terms of the Lease to which such security pertains. A separate account, or one or more separate accounts, shall be opened by Manager (hereinafter the “Security Deposit Account”), in accordance with the terms hereof. The Security Deposit Account shall be maintained in accordance with Legal Requirements and, shall be with an FDIC-insured banking institution reasonably acceptable to Owner. The Security Deposit Account shall be used only for maintaining Tenant security deposits. The depository shall be informed that the funds are held in trust for Owner. Manager may not under any circumstances write a check on the Security Deposit Account payable to or in favor of Manager or any Affiliate of Manager. Manager shall maintain detailed records of all security deposits relating to each Property. To the extent permitted under Legal Requirements, any interest credited to the Security Deposit Account from time to time shall be paid to Owner. Notwithstanding anything herein contained to the contrary, Manager may, in its reasonable discretion, access and use the security deposits, including funds held in the Security Deposit Account, for the payment of any of the costs and expenses incurred in accordance with the Approved Annual Business Plan and Budget as described in Section 3.4(a) of this Agreement (subject to any Permitted Variances) without Owner’s prior written approval so long as such amounts are properly booked and recorded and such records are open for inspection at Manager’s office, at reasonable times, by Owner’s employees and agents. Such access and use of the security deposits shall not relieve Manager of its duties and obligations to comply with all Legal Requirements regarding security deposits and the applicable terms of the Lease to which security pertains. Manager shall not collect any rents, charges, or revenues more than one (1) month in advance of when the same shall be due and payable Table of Contents under any Lease (except to the extent such advance payment is otherwise approved by Owner in writing).