A MONTHLY STATEMENT SETTING FORTH THE
INFORMATION REQUIRED BY EXHIBIT H AS WELL AS ANY ADDITIONAL INFORMATION THAT MAY
BE REQUIRED BY THE REPORTING PACKAGE OR THE APPROVED ANNUAL BUSINESS PLAN (THE
"MONTHLY STATEMENT").
(C)
QUARTERLY STATEMENTS - NO LATER THAN THE FIRST (1ST) BUSINESS DAY OF
EACH QUARTER, MANAGER WILL PROVIDE TO OWNER, QUARTERLY FINANCIAL STATEMENTS FOR
THE PREVIOUS QUARTER AS REQUIRED BY EXHIBIT H IN THE FORMAT REQUESTED BY OWNER
(D)
IF REQUESTED BY THE OWNER, MANAGER SHALL SUBMIT QUARTERLY
RE-PROJECTIONS OF THE BUDGET NO LATER THAN 15 DAYS AFTER THE END OF THE QUARTER.
Unless Owner otherwise agrees, Manager will ensure that books and records are
prepared timely and accurately on an accrual basis in accordance with GAAP.
4.4
SUPPORTING DOCUMENTATION.
AS ADDITIONAL SUPPORT TO THE MONTHLY
STATEMENTS, MANAGER WILL, AT OWNER'S REQUEST, PROVIDE COPIES OF THE FOLLOWING:
(A)
A CURRENT LEASING SUMMARY AND DETAILED LEASING ACTIVITY REPORT;
(B)
AN OCCUPANCY/LEASING RECAP, INCLUDING OCCUPANCY BY UNIT TYPE,
ACTUAL VERSUS BUDGET OCCUPANCY, AND ECONOMIC OCCUPANCY;
(C)
DETAILED CASH RECEIPTS AND DISBURSEMENTS JOURNALS;
(D)
GENERAL LEDGERS;
(E)
INVOICES FOR CAPITAL EXPENDITURES AND NONRECURRING ITEMS;
(F)
JOURNAL ENTRIES;
(G)
PAID BILLS IF AND WHEN REQUESTED;
(H)
DETAILED TRIAL BALANCE (IF AVAILABLE);
(I)
SUPPORTING DOCUMENTATION FOR PAYROLL, PAYROLL TAXES AND EMPLOYEE
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BENEFITS;
(J)
SUPPORTING SCHEDULES FOR BALANCE SHEET ACCOUNTS;
(K)
A REVIEW AND ANALYSIS OF ALL RECOVERY INCOME ACCRUALS;
(L)
ALL BANK STATEMENTS AND RECONCILIATIONS;
(M)
AN AGED ACCOUNTS RECEIVABLE LISTING AND DETAILED ALLOWANCE FOR
DOUBTFUL ACCOUNTS, WITH AN EXPLANATION OF ALL SIGNIFICANT DELINQUENCIES AND
STATUS OF COLLECTION EFFORTS AND RECOMMENDATIONS FOR WRITE-OFF OR RESERVES WHERE
APPROPRIATE;
(N)
AN ACCOUNTS PAYABLE LISTING;
(O)
A RENT ROLL;
(P)
A SUMMARY OF ANY COMPARABLE PROJECTS WITHIN THE COMPETITIVE MARKET
IN WHICH THE PROPERTY IS LOCATED FOR WHICH MANAGER OR ANY AFFILIATE OF MANAGER
PROVIDES LEASING OR MANAGEMENT SERVICES OR IN WHICH MANAGER OR ANY AFFILIATE OF
MANAGER HAS A DIRECT OR INDIRECT LEGAL, ECONOMIC OR BENEFICIAL INTEREST, EXCEPT
FOR THOSE PROJECTS (IF ANY) SET FORTH ON EXHIBIT G; AND
(Q)
AN ANNUAL INVENTORY OF PERSONAL PROPERTY OWNED OR LEASED IN
CONNECTION WITH THE PROPERTY.
4.5
ANNUAL FINANCIAL REPORTS.
MANAGER SHALL COOPERATE WITH OWNER'S
ACCOUNTANTS IN THE PREPARATION OF FINANCIAL STATEMENTS, STATE AND FEDERAL TAX
RETURNS, AND ANY RELATED MANAGEMENT OR AUDIT LETTERS OR SIMILAR REPORTING OR
REGULATORY REQUIREMENTS APPLICABLE TO OWNER AND ITS AFFILIATES, INCLUDING,
WITHOUT LIMITATION, IN CONNECTION WITH QUALIFYING AS A REIT AS SET FORTH IN
EXHIBIT H.
SUCH MATERIALS ARE TO BE ISSUED WITHIN SIXTY (60) DAYS AFTER THE END
OF EACH CALENDAR YEAR OR ON SUCH OTHER SCHEDULE AS OWNER MAY REASONABLY
REQUIRE.
AT OWNER'S REQUEST, MANAGER WILL ENGAGE AN INDEPENDENT THIRD PARTY
FIRM TO AUDIT THE ANNUAL RECORDS, AS WELL AS PREPARE PARTNERSHIP TAX RETURNS AT
THE OWNER'S EXPENSE.
4.6
TRANSFER OF FUNDS.
ON OR BEFORE THE FIFTH (5TH) DAY OF EVERY
MONTH, MANAGER WILL REMIT TO OWNER ALL CASH BALANCES DERIVED FROM THE RENTS OR
OTHERWISE ARISING FROM THE OWNERSHIP, USE OR OPERATION OF THE