Bank Account. Agent shall establish and maintain a separate trust account in the name of Owner for the deposit of all monies collected from or in connection with the operation of the Property. Agent shall have the authority to draw on this account for any payments which Agent may make solely for the discharge of any liabilities or obligations incurred pursuant to this Agreement, and for the payment of the Property Management Fee, all of which payments shall be subject to the limitations of this Agreement.
Appears in 12 contracts
Samples: Property Management Agreement (Berry & Boyle Cluster Housing Properties), Property Management Agreement (Berry & Boyle Development Partners Ii), Management Agreement (Berry & Boyle Development Partners Ii)
