Separation of Owner’s Monies. All monies received by the Agent for, or on behalf of the Owner, shall be deposited in a trust account maintained by the Agent for deposit of the Owner’s monies, and shall not be co-mingled with the funds of the Agent. The Agent will not be held liable in event of bankruptcy or failure of a depository. NSF fees, service fees and screening fees collected from applicants and tenants will be retained by the Agent.
Appears in 2 contracts
Sources: Property Management Agreement, Property Management Agreement