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4.Remit to Owner the funds collected by Broker that have been fully <br />processed and cleared for Owner under this agreement,less authorized <br />deductions,by the 15th Of each month.*Note:Owner is responsible to determine the treatmentof expensepayments in <br />regards to their financial repods and taxes. <br />D._Security Depoits: <br />1.Broker will: <br />a.Maintain security deposits received from tenants in the trust account <br />described under Paragraph 1A;and <br />b.in accordance with applicable law and the leases for the Property, <br />account to the tenantsfor the security deposit,make lawful deductions <br />from the security deposit,and return the security deposit balance to the <br />tenantsfrom the trust account. <br />2.After this agreementends,Broker will deliver to Owner or the Owner's <br />designee the security deposits held by Broker under the leases of the <br />Property,less deductions authorized by this agreement,and will send <br />written notices to the tenantsthat state: <br />a.That this agreementhas ended; <br />b.The contact information for the Owner or the Owner's designee;and <br />c.That Owner is responsible for accounting for and returning the tenant's <br />security deposit. <br />3.If Broker complies with this Paragraph 1D,Owner will indemnify Broker from <br />any claim or less from a tenant for the return of a security deposit.This <br />Paragraph 1D survivesterminationof this agreement. <br />E.Performance Standard:Broker will: <br />1.Use reasonable care when exercising Broker's authority and performing <br />under this agreement;and <br />2.Exercise discretion when performing under this agreementin a manner that <br />Broker believes to be in Owner's interest,provided that Broker will treat any <br />tenant honestly and fairly. <br />F.Deductions and Offset:Broker may disburse from any funds Broker holds in <br />trust for Owner: <br />1.Any compensationdue Broker under this agreement; <br />2.Any funds Broker is authorized to expend under this agreement;and <br />3.Any reimbursementBroker is entitled to receive under this agreement. <br />G.Insurance and Attorneys: <br />1.Broker may not file a claim for a casualty loss with the carrier insuring the <br />Property.Broker may communicatewith the carrier to facilitate the <br />processing of any claim Owner may file or perform other matters that Owner <br />instructs Broker to communicateto the carrier. <br />Professional Services Agreement <br />Page 15