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2 . Broker may not directly or indirectly employ or pay a lawyer to represent <br />Owner. Broker may communicate with Owner's attorney in accordance with <br />Owner's instructions. <br />2. RELATIONSHIP OF THE PARTIES: This agreement does not create a partnership <br />or joint venture between the parties. Broker is an independent contractor. <br />3. LEGAL COMPLIANCE: The parties will comply with all obligations, duties, and <br />responsibilities under the fair housing laws and any other statute, administrative rule, <br />ordinance, or restrictive covenant applicable to the use, leasing, management, or <br />care of the Property. <br />4. RESERVES: Upon execution of this agreement, Owner will deposit the following <br />amount with Broker to be held in a trust account as a reserve for Owner: <br />$ _____ ($200 if not filled in or $500 if Accolade is going to pay utilities for <br />the Property). Broker may, at Broker's discretion, use the reserve to pay any <br />expense related to the management of the Property (including but not limited to <br />Broker's fees). If the balance of the reserve becomes less than the amount stated, <br />Broker may: (a) deduct an amount that will bring the balance to the amount stated <br />from any subsequent rent received on behalf of Owner and deposit the amount into <br />the reserve; or (b) notify Owner that Owner must promptly deposit additional funds <br />with Broker to bring the balance to the amount stated. <br />5. ADVANCES: Broker is not obligated to advance any money to Owner or to any <br />other person. <br />6. OWNER REPRESENTATIONS: <br />A. General: Owner represents that: <br />1 . Owner has fee simple title to and peaceable possession of the Property and <br />all its improvements and fixtures, unless rented, and the legal capacity to <br />lease the Property; <br />2. Owner is not bound by another agreement for the management of the <br />Property that is or will be in effect during this agreement; <br />3. If Broker has the authority to lease the Property, Owner is not bound by: <br />(a) another agreement with another broker for the lease of the Property that <br />will be in effect during this agreement; or (b) any agreement or covenant <br />that prohibits Owner from leasing the Property; <br />4. Owner is not delinquent in the payment of any property taxes, owners' <br />association fees, property insurance, mortgage, or any encumbrance on or <br />affecting the Property; <br />5. The Property is not subject to the jurisdiction of any court; and <br />6. All information related to the Property that Owner provides to Broker is true <br />and correct to the best of Owner's knowledge. <br />Professional Services Agreement <br />Page 16