Security Deposit Account. Manager shall comply with all applicable laws with respect to security deposits paid by tenants. All security deposit funds held by Manager shall at all times be the property of Owner, subject to all applicable laws with respect thereto. Upon commencement of this Agreement, the Owner authorizes the Manager to make withdrawals therefrom for the purpose of returning them as required by the lease or by existing law.
Appears in 6 contracts
Samples: Limited Liability Company/Joint Venture Agreement (Bluerock Residential Growth REIT, Inc.), Property Management Agreement (Bluerock Residential Growth REIT, Inc.), Property Management Agreement (Bluerock Residential Growth REIT, Inc.)
Security Deposit Account. Manager shall comply with all applicable laws with respect to security deposits paid by tenants. All security deposit funds held by Manager shall at all times be the property of Owner, subject to all applicable laws with respect thereto. Upon commencement of this Agreement, the Owner authorizes the Manager to make withdrawals therefrom for the purpose of returning them as required by the lease or by existing law.
Appears in 1 contract
Samples: Property Management Agreement (Bluerock Enhanced Multifamily Trust, Inc.)
