THE AGENT AGREES Sample Clauses
The "THE AGENT AGREES" clause sets out the specific obligations and commitments that the agent undertakes within the agreement. Typically, this clause details the agent's duties, such as acting in the best interests of the principal, maintaining confidentiality, and performing assigned tasks diligently. By clearly outlining what is expected from the agent, this clause ensures both parties understand the agent's responsibilities, thereby reducing the risk of misunderstandings or disputes regarding the agent's role.
THE AGENT AGREES a. To manage the property and use its best skills and efforts to supervise the operation and maintenance of the premises, along with the services described herein.
b. Inform the owner of circumstances reasonably requiring the owner’s attention that are not the agent’s responsibility.
c. To pay the Owner each month, the net proceeds received from the property on or before the last day of each month for the current month’s activity.
i. Proceeds are paid as an electronic transfer and can take 3-5 business days to process after the payment is initiated.
d. To email a detailed monthly accounting statement of all receipts and disbursements associated with the property no later than the third (3rd) day of each calendar month for the previous month's activity.
e. To handle rents and reserves in a client's trust account in the agent’s name for the owner's benefit. Any interest earned on the trust account will accrue to the agent, not the owner.
f. If the disbursements and charges exceed the receipts, the owner agrees to pay such excess sums within ten (10) days after the agent's notification.
i. If there are insufficient funds to cover all monthly costs, the agent will notify the owner immediately to discuss the account and decide how to cover the insufficient funds. Nothing herein shall obligate the agent to advance its funds to cover the owner’s expenses.
g. Actions performed by Lava Ridge Property Management as part of the agreement in its entirety.
i. The owners' or tenants' excessive needs above and beyond the basic scope of duties listed within are subject to additional management fee charges, as discussed in the Compensation and Fees section.
THE AGENT AGREES. 2.1 To accept the management of the Premises, to the extent, for the period, and upon the terms herein provided, and agrees to furnish the services of its organization for the rental operation and management of the Premises.
2.2 To prepare a monthly statement of receipts and disbursements and to remit, on a monthly basis, the net cash flow generated by the Premises after payment of all operating expenses, debt service and escrow payments if applicable, to the following party: In the event total monthly disbursements are in excess of total monthly receipts, the Owner shall promptly provide funds to cover such shortfalls. Nothing contained herein shall obligate the Agent to advance its own funds on behalf of the Owner to cover any shortfalls.
2.3 To cause all employees of the Agent who handle or are responsible for the safekeeping of any monies of the Owner to be covered by a fidelity bond in an amount and with a company determined by the Agent.
THE AGENT AGREES. 2.1 To accept the management of the Premises, to the extent, for the period, and upon the terms herein provided and agrees to furnish the services of its organization for the rental operation and management of the Premises.
2.2 To prepare a monthly statement of receipts and disbursements and to remit, on a monthly basis, the net cash flow generated by the Premises after payment of all operating expenses, debt service and escrow payments if applicable, to the following party: Nooney Realty Trust, I▇▇. c/o David L. Johnson ▇.▇. Box 26730 Kansas City, Missouri 64196 In the event total monthly disbursements are in excess of total monthly receipts, the Owner shall promptly provide funds to cover such shortfalls. Nothing contained herein shall obligate the Agent to advance its own funds on behalf of the Owner to cover any shortfalls.
2.3 To cause all employees of the Agent who handle or are responsible for the safekeeping of any monies of the Owner to be covered by a fidelity bond in an amount and with a company determined by the Agent.
THE AGENT AGREES. 2.1 To accept the management of the Premises, to the extent, for the period, and upon the terms herein provided, and agrees to furnish the services of its organization for the rental operation and management of the Premises.
2.2 To prepare a monthly statement of receipts and disbursements and to remit, on a monthly basis, the net cash flow generated by the Premises after payment of all operating expenses, debt service and escrow payments if applicable, to the following party: Maxus Realty Trust, Inc. 104 Armour Road ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ monthly disbursements are in excess of total monthly receipts, the Owner shall promptly provide funds to cover such shortfalls. Nothing contained herein shall obligate the Agent to advance its own funds on behalf of the Owner to cover any shortfalls.
2.3 To cause all employees of the Agent who handle or are responsible for the safekeeping of any monies of the Owner to be covered by a fidelity bond in an amount and with a company determined by the Agent.
THE AGENT AGREES. 2.1 To accept the management of the Premises, to the extent, for the period, and upon the terms herein provided and agrees to furnish the services of its organization for the rental operation and management of the Premises.
2.2 To prepare a monthly statement of receipts and disbursements and to remit, on a monthly basis, the net cash flow generated by the Premises after payment of all operating expenses, debt service and escrow payments if applicable, to the following party: Secured Investment Resources Fund L.P., III c/o David L. Johnson ▇.O. Box 26730 Kansas City, MO 64196 In the event total monthly disbursements are in excess of total monthly receipts, the OWNER shall promptly provide funds to cover such shortfalls. Nothing contained herein shall obligate the AGENT to advance its own funds on behalf of the OWNER to cover any shortfalls.
2.3 To cause all employees of the AGENT who handle or are responsible for the safekeeping of any monies of the OWNER to be covered by a fidelity bond in an amount and with a company determined by the AGENT.
THE AGENT AGREES. 2.1 To accept the management of the Premises, to the extent, for the period, and upon the terms herein provided, and agrees to furnish the services of its organization for the rental operation and management of the Premises.
2.2 To prepare a monthly statement of receipts and disbursements and to remit, on a monthly basis, the net cash flow generated by the Premises after payment of all operating expenses, debt service and escrow payments if applicable, to the following party: Maxus Properties, Inc. 104 Armour Road North Kansas City, Missouri ▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇ total monthly receipts, the Owner shall promptly provide funds to cover such shortfalls. Nothing contained herein shall obligate the Agent to advance its own funds on behalf of the Owner to cover any shortfalls.
2.3 To cause all employees of the Agent who handle or are responsible for the safekeeping of any monies of the Owner to be covered by a fidelity bond in an amount and with a company determined by the Agent.
THE AGENT AGREES. 2.1 To accept the management of the Premises, to the extent, for the period, and upon the terms herein provided and agrees to furnish the services of its organization for the rental operation and management of the Premises.
2.2 To prepare a monthly statement of receipts and disbursements and to remit, on a monthly basis, the net cash flow generated by the Premises after payment of all operating expenses, debt service and escrow payments if applicable, to the following party: Maxus Real Property Investors-4, L.P. c/o David L. Johnson ▇.▇. ▇▇▇ ▇▇▇▇▇ No▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ disbursements are in excess of total monthly receipts, the Owner shall promptly provide funds to cover such shortfalls. Nothing contained herein shall obligate the Agent to advance its own funds on behalf of the Owner to cover any shortfalls.
2.3 To cause all employees of the Agent who handle or are responsible for the safekeeping of any monies of the Owner to be covered by a fidelity bond in an amount and with a company determined by the Agent.
THE AGENT AGREES. 2.1 To accept the management of the Premises, to the extent, for the period, and upon the terms herein provided and agrees to furnish the services of its organization for the rental operation and management of the Premises.
2.2 To render a monthly statement of receipts, disbursements, and Budget Variance to Owner by the 15th day of the following month. The budget will be submitted to Owner for review and approval on an annual basis. Agent shall be responsible for all property accounting functions with the exception of depreciation entries. Monthly reports will be on an accrual basis and will include income statement, balance sheet, general ledger, check register, and budget variance. Agent shall remit each month the net proceeds (provided AGENT is not required to make any mortgage, escrow, or tax payment on the first day of the following month). In case the disbursements and charges shall be in excess of the receipts, the OWNER agrees to pay such excess promptly, but nothing herein contained shall obligate the AGENT to advance its own funds on behalf of the OWNER.
2.3 To indemnify, defend and save the OWNER harmless from all suits in connection with the Premises and from liability for damage to property and injuries to or death of any employee or other person whomsoever arising out of or in any way related to the gross negligence or willful acts or omissions of AGENT or of any employee of AGENT, and to carry at its own expense Employee Dishonesty Insurance Coverage with policy limits of One Hundred Thousand Dollars ($100,000.00), and to furnish to the OWNER certificates evidencing the existence of such insurance.
THE AGENT AGREES a. To provide courteous, attentive service to the client.
b. To prepare the application in a comprehensive, timely, fair and ethical manner and lodge it within reasonable time frames and in accordance with the Migration Act and Regulations. In doing so the agent will comply with all statutory and other deadlines provided it is within the agent’s reasonable power to do so. For the sake of clarification it would not be within an agent’s reasonable power to comply with a deadline if the client has failed to provide necessary documents or the fees necessary to effect such compliance.
c. To give the client clear explanations of their immigration status and visa application processes available.
d. To provide ▇▇▇▇▇ and candid advice to the client as to the prospects of success of the application.
e. To assign competent and skilled staff to the task.
f. To provide the services of an interpreter at the expense of the client if requested by the client. In this event the Agent shall be entitled to request payment in advance of a sum sufficient to cover the cost of the interpreter.
g. To provide clear and timely advice on the progress and outcome of the client’s visa application.
h. To observe and comply with the Code of Conduct prescribed for registered migration agents and contained in Schedule 2 of the Migration Agents Regulations 1998.
i. To provide the client with a copy of the Code of Conduct upon request.
j. To notify the client in advance and obtain the client’s written agreement to any proposed change in the agent fees payable under this agreement.
k. To provide the client with a copy of the application on request.
THE AGENT AGREES. 2.1 To accept the management of the Premises, to the extent, for the period, and upon the terms herein provided and agrees to furnish the services of its organization for the rental, leasing, operation and management of the Premises, and, without limiting the generality of the foregoing, the AGENT agrees to be responsible for those specific duties and functions set forth in Section 3 hereof. AGENT shall be entitled at all times to manage the Premises in accordance with the AGENT'S standard operating policies and procedures, except to the extent that any specific provisions contained herein are to the contrary, in which case AGENT shall manage the Premises consistent with such specific provisions. AGENT agrees to use its best efforts to maintain the highest occupancy at the highest rents for each space comprising the Premises.
2.2 To render monthly reports for the Premises to the OWNER, to the attention of the individual and address as directed by the OWNER from time to time, and to remit to the OWNER the excess of Gross Income (as defined in Section 3.3 hereof) over expenses paid per Section 3.4 hereof ("Net Proceeds") for each month on or before the 15th day of the following month. AGENT will remit the Net Proceeds to the OWNER at the address as stated in Section 6.1 hereof. The reports to be submitted shall consist of the AGENT'S Consolidated Cash Report and Budget Variance Report, (samples of which are attached as "Exhibit B") and such other monthly, quarterly and annual reports as are customary in commercial property management relationships and as reasonably requested by OWNER in writing from time to time.
2.3 In case the expenses paid per Section 3.4 hereof shall be in excess of the Gross Income for any monthly period, AGENT shall notify OWNER of same and OWNER agrees to pay such excess immediately upon request from the AGENT, but nothing herein contained shall obligate the AGENT to advance its own funds on behalf of the OWNER. All advances by AGENT on behalf of OWNER shall be paid to AGENT by OWNER within ten (10) days after request.
2.4 To prepare annualized budgets for operation of the Premises and submit same to the OWNER for approval. Such budgets shall be for planning and informational purposes only, and the AGENT shall have no liability to the OWNER for any failure to meet any such budget. However, AGENT will use its best efforts to operate the Premises within the approved budget. The parties acknowledge that the first such annual budget has b...