Separate Owner's Funds. Managing Agent shall establish and maintain, in a bank, whose deposits are insured by the Federal Deposit Insurance Corporation, a trust account for Managing Agent's Owner's fund with authority to Managing Agent to draw thereon for any payments to be made by Managing Agent to discharge any liabilities or obligations of Owner incurred pursuant to and subject to the limitations of this Property ee Agreement. Owner shall forward funds to Managing Agent in an amount deemed sufficient by Managing Agent to provide for all sums due and payable by Owner as operating expenses authorized to be incurred under the terms of this Property Management Agreement. Managing Agent may make periodic payments to Owner of funds in said owner's fund that are in excess of that amount deemed necessary by Managing Agent to meet operational expenses, subject to the limitations, however, that any such payments shall not affect Owner's obligation hereunder to hereafter furnish sufficient funds to Managing Agent to meet operational expenses should such additional deposits be deemed necessary by Managing Agent.
Separate Owner's Funds. To deposit all receipts collected for the Owner (less any sums properly deducted or otherwise provided herein) in a Trust account in a national or state institution qualified to engage in the banking or trust business, separate from Agent’s personal account. However, Agent will not be held liable in the event of bankruptcy or failure of a depository.
Separate Owner's Funds. To deposit all receipts collected for Owner (less any sums properly 30 deducted or otherwise provided herein) in a trust account in a national or state institution qualified to engage in the 31 banking or trust business, separate from Agent's personal account. However, Agent will not be held liable in event of 32 bankruptcy or failure of a depository. Tenant security deposits are to be held in a separate trust account separated from 33 Owners' funds. These accounts may bear interest, which will be used to defer manager’s banking and accounting costs, 34 and will accrue to Agent’s benefit.
Separate Owner's Funds. The Agent accepts the employment and agrees to deposit all receipts collected for the Owner (less any sums properly deducted or otherwise provided herein) in a secure account in a financial institution qualified to engage in the banking business, separate from the Agent’s personal account. However, the Agent will not be held liable in event of bankruptcy or failure of a depository.
