Disbursements of Rents and Other Receipts. 33 34 (A) Operating Expenses. From the Trust Account, Broker is hereby authorized to pay for all 35 expenses and costs of operating the Property and for all other sums due Broker under this Agreement, including 36 Broker’s compensation. 37 38 (B) Debt Service. Owner shall give Broker advance written notice of at least thirty (30) days to 39 make any additional monthly or recurring payments (such as mortgage indebtedness, general taxes, special 40 assessments or insurance premiums) out of Owner’s proceeds from the Property. If Owner notifies Broker to 41 make such payments after the beginning of the term of this Agreement, Broker shall have the authority to name a 42 new contingency reserve amount, and Owner shall maintain this new contingency reserve amount at all time in 43 the Trust Account. 44
Disbursements of Rents and Other Receipts. A. Net Proceeds: To the extent that funds are available Manager shall remit the balances due to Owner monthly.
B. Paper Check & Statement: Owners who choose to receive their rents via monthly printed-paper check accompanied by a paper statement, shall be charged $6.00 per check issued. This fee will be added to the monthly management fee, as provided in Section 2. Paper checks are processed once weekly.
C. Direct Deposit: Owners who wish to avoid the paper check fee may choose to sign up for electronic transfer of rental income via direct deposit at no additional charge, and receive an e-statement instead of a paper statement.
Disbursements of Rents and Other Receipts a. Net Proceeds: To the extent that funds are available Manager shall remit the balances due to Owner monthly.
Disbursements of Rents and Other Receipts