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<br /> "'� (b) Maneger shell promptly deposi4 all funds collected from or in respect
<br /> � .a�, of tha Pxoperry in an accoun¢(s) d�sigr�a4ed foY �f�e d'rogarty (th� "A,csoua4")
<br /> ;�� maintained by Manager in trust for the beneSt of Owner, in a bank(e) or othar '�:i��
<br /> :,�,��,;� . Snancial institution(s)that Owner may desigaata from tlme to tima Such funds shall ` °:
<br /> be kept separate from all other accounts and funds of Manager. �11 auch funds ahalY �'l�"
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<br /> :_ � bo amd remain the property of Owner. �,��:."_
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<br /> �� (c) �uianager is an iutdependent contractor for Ownar. Manager shall have ___
<br /> � all responsibi�ities as employer to any servant or employec of the Mlanager and ahall �--
<br /> . comply with all applicable state and faderal laws relating to employment, workers' ,..
<br /> � compensation baneSts�taxes, insurance and soeial security bene�ts. A�=
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<br /> •. � -^ (d) ARanager s�all prepaPa and �Ic all returns and other do�umants __-
<br /> •'�".,, :�;' required under the Federal Insurance Contributions Act and the Fedaral
<br /> `'� � Unemployment Tax Act, and any similar federal or state legisl�tion, and all __
<br />-��.`,�,'��p�` withholding tax retums and reports required for all employees of the Manager. f-
<br /> �r�i7Y•V,,++� (e) Manag�r shaA maintain a bank account of its own menies&om which
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<br /> ;>'y€ to pay its employees.
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<br />°`�_�'�:� 1.10 �q�.,ectJon and Disburseme t of Revenua. Manager shall have the following
<br /> _-=��._�• resnonsibilitieg and duties regarding the collecdon and disbursement of revenues: �
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<br /> -u_� (a) Any funds of Ownar received by Manager must be deposited promptly
<br /> =—�� in the A�ccount.
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<br /> -�•�� (b) Manager is authorized to wlthdraw from the Aceount any amaunt
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<br /> _ necessary tu pay Owner's costs and exponses hereunder, to the extent of available funds,
<br /> --_•_�,;�:�,�. Said authorization includes payments of amounts due and becoming due to Iviatiager
<br /> ---�=�'"� hereunder, subject to any and all limitations contained in this Agreemesnt.
<br /> (c) To the extent of avai�able funds and subject to approved budget
<br /> constraints,Manager shall regularly disburse all operating expenses of the Properry. (h�rner
<br /> __.�_" is �inaucially respons�'ble for taxes, assessments, encumbrances� and insurance premiiams
<br /> ___ � relattng to the Propea�ty but excluding any of the same relating to employe�s of the Managdr.
<br /> _ - =,r-��� ��� 1►Rw�gonr�hall r��t t�QSN^a*, �TQIY! �1C t0 tlffiC� any�x5et�e _funcLs in __
<br /> — the Account. �
<br /> = 1.11 Equivment Exaenditures. To the extent of available funds and subjtct to
<br /> __�� approved budget constraints, Menager shall arrange for the purchase and installadan of
<br /> _�� equipment which Manager reasonably deems to be necessary or desirable, provided that
<br /> __�=�,�� Zvianager shall not be authonized to purchase or install any such eq�ipment if the cost
<br /> l`::�'� thereof, in the aggregate, exceeds $5,000.00 without Owner's prIor wrItt�n consent.
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