Common use of COLLECTION OF RENTS AND OTHER RECEIPTS Clause in Contracts

COLLECTION OF RENTS AND OTHER RECEIPTS. The Agent will collect, when due, all rents, charges and other amounts receivable for the Owner's account in connection with the management and operation of the Project. Such receipts will be deposited in an account, separate from all other accounts and funds, with a bank whose deposits are insured by the Federal Deposit Insurance Corporation. This account will be carried in the Owner's name and designated of record as KRF 3 Acquisition Company, L.L.C. d/b/a "▇▇▇▇▇▇'▇ Forge Apartments" (the "Project Rental Account"). Subject to compliance with Section 11 hereof, the Agent is, however, hereby authorized to make deposits to and withdrawals from the Project Rental Account as agent for the Owner.

COLLECTION OF RENTS AND OTHER RECEIPTS. The Agent will collect, when due, all rents, charges and other amounts receivable for the Owner's account in connection with the management and operation of the Project. Such receipts will be deposited in an account, separate from all other accounts and funds, with a bank whose deposits are insured by the Federal Deposit Insurance Corporation. This account will be carried in the Owner's name and designated of record as KRF 3 Acquisition CompanySeasons of Laurel, L.L.C. d/b/a "▇▇▇▇▇▇'▇ Forge The Seasons Apartments" (the "Project Rental Account"). Subject to compliance with Section 11 hereof, the Agent is, however, hereby authorized to make deposits to and withdrawals from the Project Rental Account as agent for the Owner.

COLLECTION OF RENTS AND OTHER RECEIPTS. The Agent will collect, when due, all rents, charges and other amounts receivable for the Owner's account in connection with the management and operation of the Project. Such receipts will be deposited in an account, separate from all other accounts and funds, with a bank whose deposits are insured by the Federal Deposit Insurance Corporation. This account will be carried in the Owner's name and designated of record as KRF 3 Acquisition Company, L.L.C. d/b/a "▇▇▇▇▇▇'▇ Forge Hannibal Grove Apartments" (the "Project Rental Account"). Subject to compliance with Section 11 hereof, the Agent is, however, hereby authorized to make deposits to and withdrawals from the Project Rental Account as agent for the Owner.

COLLECTION OF RENTS AND OTHER RECEIPTS. The Agent will collect, when due, all rents, charges and other amounts receivable for the Owner's account in connection with the management and operation of the Project. Such receipts will be deposited in an account, separate from all other accounts and funds, with a bank whose deposits are insured by the Federal Deposit Insurance Corporation. This account will be carried in the Owner's name and designated of record as KRF 3 KR5 Acquisition Company, L.L.C. d/b/a "▇▇▇▇▇▇'▇ Forge Century II Apartments" (the "Project Rental Account"). Subject to compliance with Section 11 hereof, the Agent is, however, hereby authorized to make deposits to and withdrawals from the Project Rental Account as agent for the Owner.