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income and expenses shall be sent to the Owner on or before the 15th Of <br />each month.A 1099 MISC FORM and Year End Financial Statementwill <br />be sent annually by January 31 for the preceding year. <br />B.Leasinq Authority:Owner grants to Broker the following authority,which Broker <br />may exercise when and to the extent Broker determines to be in Owner's <br />interest: <br />1.To exclusivelyadvertisethe Property for lease by means and methods that <br />Broker determines are reasonably competitive,including but not limited to <br />creating and placing advertisementswith interior and exterior photographic <br />and audio-visualimages of the property and related information in any <br />media,including the internet; <br />2.Place "For Lease"signs,"For Information"signs,or other signs on the <br />Property in accordance with applicable laws,regulations,ordinances, <br />restrictions,and owners'association rules; <br />3.Remove all other signs offering the Property for sale or lease; <br />4.Submit the Property as a listing with one or more listing services at any time <br />the Property is marketed for lease and to change or terminatesuch listings; <br />5.Authorize other brokers,their associates,and their clients to access the <br />Property at reasonabletimes and to lend keys and disclose security codes <br />to such persons to enter the Property; <br />6.Duplicate keys and access devices to facilitate convenientand efficient <br />showingsof the Property and to lease the Property; <br />7.To screen and use diligence in the selection of prospective tenants and to <br />abide by all Fair Housing Laws; <br />8.Offer to pay another broker,from the compensationBroker receives under <br />this agreement,a portion of the compensationreceived by Broker; <br />9.Negotiate leases on Owner's behalf for the Property at market rates and on <br />competitivelyreasonable terms for initial terms of not less than <br />months and not more than months and in accordance with any <br />instructions,and present to Owner to execution; <br />10.Negotiate any amendments,extensions,or renewalsto any leases for the <br />Property on Owner's behalf,and present to Owner for execution; <br />11.Collect application fees from prospective tenants;and <br />12.Perform other necessary services related to the leasing of the Property. <br />C.Recordkeeping:Broker will: <br />1.Maintain accurate records related to the Property and retain such records <br />for not less than six (6)years; <br />2.File reports with the Internal Revenue Service which Broker may be <br />required to file concerning funds received on behalf of Owner under this <br />agreement (for example,Form 1099); <br />3.Send to Owner each month a statementof receipts,disbursements,and <br />charges;and <br />Professional Services Agreement <br />Page 14