STATEMENTS:
BROKER will render a statement every thirty (30) days showing all funds collected and disbursed.  BROKER is directed to remit to OWNER not less than every thirty (30) days the net receipts.  Net receipts include but are not limited to: Gross receipts less advertising costs, management fees, expenses incurred for all repairs, maintenance expenses, utility charges, cleaning charges, court costs, legal notices and eviction expenses, multiple listing referral fees, deposit refunds, and all payments as outlined below on Schedule-A.  BROKER shall maintain accurate records of all monies received and disbursed in connection with its management of the property.  OWNER is required to file all required Internal Revenue Service (IRS) forms and meet all IRS requirements.  BROKER shall submit as required by the IRS at the conclusion of each calendar year a Form 1099 indicating the total income received through BROKER from the Property.  All documents and correspondence including those made electronically, whether received, obtained, sent, or generated by BROKER, regardless of source, regarding the Property, any tenant, or tenancy, are to be considered the private property of BROKER and Atlas Group LC, and will only be disbursed or released at BROKER’S sole discretion.

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