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.
Appears in 3 contracts
Sources: Management Agreement (Nooney Realty Trust Inc), Management Agreement (Nooney Realty Trust Inc), Management Agreement (Nooney Realty Trust Inc)