Debt Service. If Owner and Broker mutually agree in writing, Owner shall give Broker advance written notice of at least thirty (30) days to make any additional monthly or recurring payments (such as mortgage indebtedness, general taxes, special assessments or insurance premiums) out of Owner’s proceeds from the Property. If Owner notifies Broker to make such payments after the beginning of the term of this Agreement, Broker shall have the authority to name a new contingency reserve amount, and Owner shall maintain this new contingency reserve amount at all times in the Trust Account.
Appears in 3 contracts
Samples: Management and Brokerage Agreement, Property Management Agreement, Management and Brokerage Agreement
Debt Service. If Owner and Broker mutually agree in writing, Owner shall give Broker advance written notice of at least thirty (30) 30 days to make any additional monthly or recurring payments (such as mortgage indebtedness, general taxes, special assessments or insurance premiums) out of Owner’s proceeds from the Property. If the Owner notifies Broker to make such payments after the beginning of the term of this Agreement, Broker shall have the authority to name a new contingency reserve amount, and Owner shall maintain this new contingency reserve amount at all times in the Trust Account.
Appears in 2 contracts
Samples: Residential Property Management Agreement, Residential Property Management Agreement
Debt Service. If Owner and Broker mutually agree in writing, Owner shall give Broker advance written notice of at least thirty (30) days to 41 make any additional monthly or recurring payments (such as mortgage indebtedness, general taxes, special 42 assessments or insurance premiums) out of Owner’s proceeds from the Property. If Owner notifies Broker to 43 make such payments after the beginning of the term of this Agreement, Broker shall have the authority to name a 44 new contingency reserve amount, and Owner shall maintain this new contingency reserve amount at all times in 45 the Trust Account.
Appears in 1 contract
Debt Service. If Owner and Broker mutually agree in writing, Owner shall give Broker advance written notice of at least thirty (30) days to make any additional monthly or recurring payments (such as mortgage indebtedness, general taxes, special assessments or insurance premiums) out of Owner’s 's proceeds from the Property. If Owner notifies Broker to make such payments after the beginning of the term of this Agreement, Broker shall have the authority to name a new contingency reserve amount, and Owner shall maintain this new contingency reserve amount at all times in the Trust Account.
Appears in 1 contract
Samples: Property Management Agreement
