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84 n n c J n VV1VV L If the Incentive Fee is earned the Incentive Fee shall be payable to the Agent on an annual basis. During each month throughout the preceding. calendar year, an amount of the Receipts (if any) will be retained: in the.. Custodial Account which is an estimate of the Incentive Fee earned to date. The estimated Incentive Fee- will be based upon tits YoF V`ct t: a : of ai.& -_Y, I collection loss to date for the calendar year. Following the- collection!, of the i__ _y .h_ .x.._ ai E December tent and prior to he end o o iit+ait"ni�" year, ia,� Incentive Fee shall be reconciled with the actual Incentive Fee: gayable to the Agent, based upon the actual vacancy and collection losses for the year. To the extent withheld funds exceed the amount actually payable to the- Agent: the excess funds shall be added to the rental pool Receipts. To the- extent withheld funds are less than the amount actually payable to the Agent, the Agent may withdraw the balance owing from the Custodial Account-. It any' partial year of operation of the rental pool the Incentive Fee: shall be pro rated, reconciled and payable to the Agent following. collection rents in the final month of that shortened period. The Incentive Fee payable to the Agent shall be allocated among the units in Rental Use in the same proportion that the particular advertised monthly rental price of the Owner's Unit bears to the aggregate advertised monthly rental price of all The Yancey units available for Rental. Use. The Initial Leasing Fee, Turnover Fee and Incentive: Fee are individually* and collectively referred to as "Leasing Fees." 12. Agent Authority to Pay Owrr: * _ - Liabilities. Owner authorizes Agent to deduct from the Unit's allocation of Receipts the Unit's allocation of liabilities in the following order- payment of prior months' balance due of owner's liabilities (if any) , Rental Pool Management Fees, Disbursements, Leasing Fees, Capital Expenditures, and Association Assessment (hereinafter referred to individually and collectively as "Owner's Liabilities "). If the Unit's allocation of Receipts is insufficient to fully defray the Owner's Liabilities, Agent may bill the Owner and the Owner agrees to promptly and fully compensate the Agent for the balance within 30 days. If the balance is not paid within 30 days, the Agent shall have the right to charge 16% interest per annum on such delinquent balance. If the balance is not paid within 60 days after the initial billing by the Agent, the Agent shall have the non-e: iusive rights and remedies def -In in Parasrap I.,. 13. Assignment of Rent; Remedies. To the extent of the Owner's rights, title and interest in the Unit, each Owner irrevocably grants and assigns to the Agent all rents, royalties, receipts and revenues, prepaid rents, Receipts and proceeds ( "Rents ") of the Unit or from any lease, sublease or agreement pertaining thereto, now or hereafter entered into or extended and any proceeds thereof, for the purpose of securing due, prompt and complete observance, performance and discharge by the terms of this Agreement, including payment of any balance due, advances made thereunder by Agent on behalf of the Owner, or any Owner's Liabilities (as defined in Paragraph 12), due and payable to Agent, together with the specified interest thereon ( "Assignment of Rents "). Agent consents to the Owner receiving such Rents and the allocation of Receipts so long as -7- I a X