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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. <br />*Note: Owner is responsible to determine the treatment of expense payments in <br />regards to their financial reports and taxes. <br />D. Security Deposits: <br />1. Broker will: <br />a. Maintain security deposits received from tenants in the trust account <br />described under Paragraph 1 A; and <br />b. in accordance with applicable law and the leases for the Property, <br />account to the tenants for the security deposit, make lawful deductions <br />from the security deposit, and return the security deposit balance to the <br />tenants from the trust account. <br />2. After this agreement ends, 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 tenants that state: <br />a. That this agreement has 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 1 D, Owner will indemnify Broker from <br />any claim or less from a tenant for the return of a security deposit. This <br />Paragraph 1 D survives termination of 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 agreement in 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 compensation due Broker under this agreement; <br />2. Any funds Broker is authorized to expend under this agreement; and <br />3. Any reimbursement Broker 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 communicate with the carrier to facilitate the <br />processing of any claim Owner may file or perform other matters that Owner <br />instructs Broker to communicate to the carrier. <br />Professional Services Agreement <br />Page 15