Security Deposit Account. A trust account for the benefit of Owner established by Owner and maintained in an FDIC insured bank to hold tenant security deposits.
Appears in 14 contracts
Sources: Management Agreement (Resource Real Estate Investors 7, L.P.), Management Agreement (Resource Real Estate Investors 7, L.P.), Management Agreement (Resource Real Estate Investors 7, L.P.)
Security Deposit Account. A trust account for the benefit of Owner established by Owner and maintained in an FDIC insured bank to hold tenant security deposits. Manager may open a separate Security Deposit Account for each Project.
Appears in 8 contracts
Sources: Management Agreement (Resource Income Opportunity REIT, Inc.), Management Agreement (Resource Apartment REIT III, Inc.), Management Agreement (Resource Apartment REIT III, Inc.)