Common use of Actions on Termination Clause in Contracts

Actions on Termination. If this Agreement expires or is terminated for any reason Manager shall comply with all requirements set forth in the Oregon Real Estate Agency Rules. Not later than 60 days after the effective date of the termination of this Agreement, Manager will: (a) Disburse all obligated funds to the party or parties entitled to the funds; and (b) Provide the Owner with the following: (A) A final accounting of the Owner's ledger account; (B) All funds belonging to the Owner as shown on the Owner’s ledger, unless the Owner directs the Manager, in writing, to transfer the funds to another property manager, escrow agent or person; (C) An accounting of all security deposits and fees held for tenants; (D) All tenant security deposits and fees held for tenants, unless the Owner directs the Manager, in writing, to transfer the security deposits and fees to another property manager, escrow agent or person; and (E) Copies of all current tenant rental or lease agreements, unless the Owner waives such requirement in writing or directs the Manager, SAMPLE in writing, to provide such documents to another property manager, escrow agent or person; and (F) A notice the Manager may destroy the required records of the property management activity performed after six years. Upon the written request of Owner, Manager will transmit to Owner along with the final accounting, all records, contracts, leases, receipts for deposits, and other papers or documents which pertain to the Property, which Manager is not obligated to retain under applicable law. Owner will pay all copying charges for any records transmitted to Owner upon termination of this Agreement. No later than the next calendar day after the effective date of the termination of this Agreement, Manager must notify each tenant for whom the Manager holds a security

Actions on Termination. If this Agreement expires or is terminated for any reason Manager shall comply with all requirements set forth in the Oregon Real Estate Agency Rules. Not later than 60 days after the effective date of the termination of this Agreement, Manager will: (a) SAMPLE Disburse all obligated funds to the party or parties entitled to the funds; and (b) Provide the Owner with the following: (A) A final accounting of the Owner's ledger account; (B) All funds belonging to the Owner as shown on the Owner’s ledger, unless the Owner directs the Manager, in writing, to transfer the funds to another property manager, escrow agent or person; (C) An accounting of all security deposits and fees held for tenants; (D) All tenant security deposits and fees held for tenants, unless the Owner directs the Manager, in writing, to transfer the security deposits and fees to another property manager, escrow agent or person; and (E) Copies of all current tenant rental or lease agreements, unless the Owner waives such requirement in writing or directs the Manager, SAMPLE in writing, to provide such documents to another property manager, escrow agent or person; and (F) A notice the Manager may destroy the required records of the property management activity performed after six years. Upon the written request of Owner, Manager will transmit to Owner along with the final accounting, all records, contracts, leases, receipts for deposits, and other papers or documents which pertain to the Property, which Manager is not obligated to retain under applicable law. Owner will pay all copying charges for any records transmitted to Owner upon termination of this Agreement. No later than the next calendar day after the effective date of the termination of this Agreement, Manager must notify each tenant for whom the Manager holds a securitysecurity deposit that: (a) The security deposit and all fees held for the tenant will be transferred to the Owner or, if applicable, to another property manager, escrow agent or person; and (b) The name and address of the Owner, other property manager, escrow agent or person to whom these deposits will be transferred. If a tenant's termination of tenancy occurs simultaneously with or prior to the effective date of termination of this Agreement, Manager must complete any final accounting, inspection or other procedures within the time required by: (a) The tenant rental or lease agreement; (b) The Residential Landlord Tenant Act; and (c) this Agreement, unless the Owner otherwise directs in writing. Upon termination of this Agreement, Manager will transfer and assign by written agreement any interest of Manager in a rental or lease agreement to the Owner or to a new property manager. By initialing below, Owner acknowledges and agrees to the terms in this section 5. X

Actions on Termination. If this Agreement expires or is terminated for any reason Manager shall comply with all requirements set forth in the Oregon Real Estate Agency Rules. Not later than 60 days after the effective date of the termination of this Agreement, Manager will: (a) Disburse all obligated funds to the party or parties entitled to the funds; and (b) Provide the Owner with the following: (A) A final accounting of the Owner's ledger account; (B) All funds belonging to the Owner as shown on the Owner’s ledger, unless the Owner directs the Manager, in writing, to transfer the funds to another property manager, escrow agent or person; (C) An accounting of all security deposits and fees held for tenants; (D) All tenant security deposits and fees held for tenants, unless the Owner directs the Manager, in writing, to transfer the security deposits and fees to another property manager, escrow agent or person; and (E) Copies of all current tenant rental or lease agreements, unless the Owner waives such requirement in writing or directs the Manager, SAMPLE in writing, to provide such documents to another property manager, escrow agent or person; and (F) A notice the Manager may destroy the required records of the property management activity performed after six years. Upon the written request of Owner, Manager will transmit to Owner along with the final accounting, all records, contracts, leases, receipts for deposits, and other papers or documents which pertain to the Property, which Manager is not obligated to retain under applicable law. Owner will pay all copying charges for any records transmitted to Owner upon termination of this Agreement. SAMPLE No later than the next calendar day after the effective date of the termination of this Agreement, Manager must notify each tenant for whom the Manager holds a securitysecurity deposit that: (a) The security deposit and all fees held for the tenant will be transferred to the Owner or, if applicable, to another property manager, escrow agent or person; and (b) The name and address of the Owner, other property manager, escrow agent or person to whom these deposits will be transferred. If a tenant's termination of tenancy occurs simultaneously with or prior to the effective date of termination of this Agreement, Manager must complete any final accounting, inspection or other procedures within the time required by: (a) The tenant rental or lease agreement; (b) The Residential Landlord Tenant Act; and (c) this Agreement, unless the Owner otherwise directs in writing. Upon termination of this Agreement, Manager will transfer and assign by written agreement any interest of Manager in a rental or lease agreement to the Owner or to a new property manager. Owner acknowledges and agrees to the terms in Section 5. Owner Initials X

Actions on Termination. If this Agreement expires or is terminated for any reason Manager shall comply with all requirements set forth in the Oregon Real Estate Agency Rules. Not later than 60 days after the effective date of the termination of this Agreement, Manager will: (a) Disburse all obligated funds to the party or parties entitled to the funds; and (b) Provide the Owner with the following: (A) A final accounting of the Owner's ledger account; (B) All funds belonging to the Owner as shown on the Owner’s ledger, unless the Owner directs the Manager, in writing, to transfer the funds to another property manager, escrow agent or person; (C) An accounting of all security deposits and fees held for SAMPLE tenants; (D) All tenant security deposits and fees held for tenants, unless the Owner directs the Manager, in writing, to transfer the security deposits and fees to another property manager, escrow agent or person; and (E) Copies of all current tenant rental or lease agreements, unless the Owner waives such requirement in writing or directs the Manager, SAMPLE in writing, to provide such documents to another property manager, escrow agent or person; and (F) A notice the Manager may destroy the required records of the property management activity performed after six years. Upon the written request of Owner, Manager will transmit to Owner along with the final accounting, all records, contracts, leases, receipts for deposits, and other papers or documents which pertain to the Property, which Manager is not obligated to retain under applicable law. Owner will pay all copying charges for any records transmitted to Owner upon termination of this Agreement. No later than the next calendar day after the effective date of the termination of this Agreement, Manager must notify each tenant for whom the Manager holds a securitysecurity deposit that: (a) The security deposit and all fees held for the tenant will be transferred to the Owner or, if applicable, to another property manager, escrow agent or person; and (b) The name and address of the Owner, other property manager, escrow agent or person to whom these deposits will be transferred. If a tenant's termination of tenancy occurs simultaneously with or prior to the effective date of termination of this Agreement, Manager must complete any final accounting, inspection or other procedures within the time required by: (a) The tenant rental or lease agreement;

Actions on Termination. If this Agreement expires or is terminated for any reason Manager shall comply with all requirements set forth in the Oregon Real Estate Agency Rules. Not later than 60 days after the effective date of the termination of this Agreement, Manager will: (a) Page 8 of 14 – Property Management Agreement SAMPLE Disburse all obligated funds to the party or parties entitled to the funds; and (b) Provide the Owner with the following: (A) A final accounting of the Owner's ledger account; (B) All funds belonging to the Owner as shown on the Owner’s ledger, unless the Owner directs the Manager, in writing, to transfer the funds to another property manager, escrow agent or person; (C) An accounting of all security deposits and fees held for tenants; (D) All tenant security deposits and fees held for tenants, unless the Owner directs the Manager, in writing, to transfer the security deposits and fees to another property manager, escrow agent or person; and (E) Copies of all current tenant rental or lease agreements, unless the Owner waives such requirement in writing or directs the Manager, SAMPLE in writing, to provide such documents to another property manager, escrow agent or person; and (F) A notice the Manager may destroy the required records of the property management activity performed after six years. Upon the written request of Owner, Manager will transmit to Owner along with the final accounting, all records, contracts, leases, receipts for deposits, and other papers or documents which pertain to the Property, which Manager is not obligated to retain under applicable law. Owner will pay all copying charges for any records transmitted to Owner upon termination of this Agreement. No later than the next calendar day after the effective date of the termination of this Agreement, Manager must notify each tenant for whom the Manager holds a securitysecurity deposit that: (a) The security deposit and all fees held for the tenant will be transferred to the Owner or, if applicable, to another property manager, escrow agent or person; and (b) The name and address of the Owner, other property manager, escrow agent or person to whom these deposits will be transferred. If a tenant's termination of tenancy occurs simultaneously with or prior to the effective date of termination of this Agreement, Manager must complete any final accounting, inspection or other procedures within the time required by: (a) The tenant rental or lease agreement; (b) The Residential Landlord Tenant Act; and (c) this Agreement, unless the Owner otherwise directs in writing. Upon termination of this Agreement, Manager will transfer and assign by written agreement any interest of Manager in a rental or lease agreement to the Owner or to a new property manager. By initialing below, Owner acknowledges and agrees to the terms in this section 5. X

Actions on Termination. If this Agreement expires or is terminated for any reason Manager shall comply with all requirements set forth in the Oregon Real Estate Agency Rules. Not later than 60 days after the effective date of the termination of this Agreement, Manager will: (a) Disburse all obligated funds to the party or parties entitled to the funds; and (b) Provide the Owner with the following: (A) A final accounting of the Owner's ledger account; (B) All funds belonging to the Owner as shown on the Owner’s ledger, unless the Owner directs the Manager, in writing, to transfer the funds to another property manager, escrow agent or person; (C) An accounting of all security deposits and fees held for tenants; (D) All tenant security deposits and fees held for tenants, unless the Owner directs the Manager, in writing, to transfer the security deposits and fees to another property manager, escrow agent or person; and (E) Copies of all current tenant rental or lease agreements, unless the Owner waives such requirement in writing or directs the Manager, SAMPLE in writing, to provide such documents to another property manager, escrow agent or person; and (F) A notice the Manager may destroy the required records of the property management activity performed after six years. Upon the written request of Owner, Manager will transmit to Owner along with the final accounting, all records, contracts, leases, receipts for deposits, and other papers or documents which pertain to the Property, which Manager is not obligated to retain under applicable law. Owner will pay all copying charges for any records transmitted to Owner upon termination of this Agreement. No later than the next calendar day after the effective date of the termination of this Agreement, Manager must notify each tenant for whom the Manager holds a securitysecurity deposit that: (a) The security deposit and all fees held for the tenant will be transferred to the Owner or, if applicable, to another property manager, escrow agent or person; and (b) The name and address of the Owner, other property manager, escrow agent or person to whom these deposits will be transferred. If a tenant's termination of tenancy occurs simultaneously with or prior to the effective date of termination of this Agreement, Manager must complete any final accounting, inspection or other procedures within the time required by: (a) The tenant rental or lease agreement; (b) The Residential Landlord Tenant Act; and (c) this Agreement, unless the Owner otherwise directs in writing. Upon termination of this Agreement, Manager will transfer and assign by written agreement any interest of Manager in a rental or lease agreement to the Owner or to a new property manager. By initialing below, Owner acknowledges and agrees to the terms in this section 5. X