Common use of ENFORCEMENT OF RENTAL AGREEMENTS Clause in Contracts

ENFORCEMENT OF RENTAL AGREEMENTS. Pinnacle is authorized to institute, in Owner's name or in the name of Pinnacle, all legal actions or proceedings for the enforcement of any rental term, for the collection of rent or other income due to the Project, or for the eviction or dispossession of tenants or other persons from the Project. Pinnacle is authorized to sign and serve such notices as Pinnacle and Owner deem necessary for the enforcement of rental agreements, including the collection of rent and other income. Pinnacle may settle, compromise and release such legal actions or suits or to reinstate such tenancies without the prior consent of Owner, if such settlement, compromise, or release shall involve an amount in controversy of One Thousand Dollars ($1,000), or less. Where the amount in controversy is in excess of One Thousand Dollars ($1,000), Pinnacle shall first obtain the authorization of Owner (written or oral) before entering into any compromise, settlement, or release of such legal action. Any moneys for such settlements paid out by Pinnacle shall be an operating expense of the Project. Reasonable attorney's fees, filing fees, court costs and other necessary expenditures incurred in the connection with such action shall be paid out of the Project operating account or shall be reimbursed directly to Pinnacle by Owner. All funds recovered by tenants shall be deposited into the Project operating account. Unless otherwise directed by Owner, Pinnacle may select the attorney or attorneys to handle any and all such litigation.

ENFORCEMENT OF RENTAL AGREEMENTS. Pinnacle PINNACLE is authorized to institute, in Owner's name or in the name of PinnaclePINNACLE, all legal actions or proceedings for the enforcement of any rental term, for the collection of rent or other income due to the Project, or for the eviction or dispossession of tenants or other persons from the Project. Pinnacle PINNACLE is authorized to sign and serve such notices as Pinnacle PINNACLE and Owner deem necessary for the enforcement of rental agreements, including the collection of rent and other income. Pinnacle PINNACLE may settle, compromise and release such legal actions or suits or to reinstate such tenancies without the prior consent of Owner, if such settlement, compromise, or release shall involve an amount in controversy of One Thousand Dollars ($1,000), or less. Where the amount in controversy is in excess of One Thousand Dollars ($1,000), Pinnacle PINNACLE shall first obtain the authorization of Owner (written or oral) before entering into any compromise, settlement, or release of such legal action. Any moneys for such settlements paid out by Pinnacle PINNACLE shall be an operating expense of the Project. Reasonable attorney's fees, filing fees, court costs and other necessary expenditures incurred in the connection with such action shall be paid out of the Project operating account or shall be reimbursed directly to Pinnacle PINNACLE by Owner. All funds recovered by tenants shall be deposited into the Project operating account. Unless otherwise directed by Owner, Pinnacle PINNACLE may select the attorney or attorneys to handle any and all such litigation.