1. Negotiation of all contracts and routine supervision of the work of maintenance personnel and all subcontractors. 2. Initiation of liens through the Association's attorney (collection firm) and follow-up supervision of attorney's collection efforts. 3. Interface with accountants, attorneys, insurance agents, reserve analysts, and other professionals wherever needed or requested by the Board of Directors. 4. Management may purchase supplies and equipment specifically for the Association during the performance of this Agreement, including, but not limited to keys and other access control devices that are purchased for sale to owners. Excess stock on hand at termination of this Agreement shall be purchased by the Association upon termination of this agreement. 5. Management may, from time to time, receive requests to provide documents to others, i.e.: homeowners, for viewing or copying, that will require file or archival research to produce. Such file retrieval may initiate fees to the association for the service, even though the association is merely providing such items in compliance with the Civil Code.
IV.
BANK ACCOUNTS
A. Association and Management agree that the Association's bank account(s) shall be maintained at a bank to be specified by Management, one or more with whom Management has a relationship. It is understood that all Association Operating and Reserve accounts shall be established in federally insured banks. Association funds shall be maintained in individual Association bank accounts and shall not be commingled with the funds of any other association or those of Management. Association authorization for payments made by check or electronic payment and account transfer of funds will require the approval of designated Board member(s) unless indicated otherwise in approved minutes of a meeting of the Board of Directors. B. Deposits of checks in Association's operating account shall be made on a regular basis via a bank lockbox service, usually no later than two (2) business days following receipt of funds. If association demands that a bank other than an approved bank with which Management has a relationship is used, other processing procedures and fees may apply. If funds for deposit are from a non-US bank, foreign currency transaction fees will apply. Management is not responsible for bank errors, bank holds or bank delays.
C. All bank accounts as contemplated by this Section shall be the sole property of the Association.
V.
INDEMNIFICATION
A. Association shall indemnify, defend at its sole cost, and hold harmless Agent and its employees, agents, officers and directors from and against any and all claims, demands, losses, costs, expenses, obligations, liabilities, judgments,
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VRC PPM Proposed Contract 2022 2/4/2022
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