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5. Owner shall interview and approve any PM and site staff assigned to the <br />Property. <br />6. Employment grievances, termination of employment, and promotions <br />shall be conducted according to the Agent's personnel policies and <br />procedures, which conform to equal opportunity and affirmative action <br />goals and requirements. Agent shall also consult with Owner prior to <br />terminating the employment of any onsite employee. <br />E. Plan for maintaining adequate accounting records and handling necessary <br />forms and vouchers. <br />1. Agent agrees to keep accurate, complete and separate books and records of <br />accounts in accordance with accepted accounting standards and <br />procedures on the basis of a calendar year. Financial accounting, reports <br />and records shall be in conformance with modified accrual basis <br />accounting procedures, and responsible to the guidelines provided by the <br />regulatory agencies connected with the Property. <br />Accordingly, the Agent will maintain accurate files of all tenant <br />transactions, revenue, and expenditures and prepare for the following <br />monthly reports for the Owner's review and send it to the Owner no later <br />than the fifteenth (15th) day of the following month. The reports include <br />Balance Sheet, Detailed General Ledger, Check Register, Aged Accounts <br />Payables, Aged Receivable Report, Bank Statements, Bank <br />Reconciliation, Monthly Report for establishing Net Income, Rent Roll, <br />Vacancy Report and any other additional Reports as requested by Owner <br />and other regulatory agencies. <br />2. Bills will be paid and accounts will be funded pursuant to the requirements <br />of the Property's Regulatory Agreement. Specifically: <br />a. A purchase order system will be utilized to document all Property <br />expenses with the exception of items and services provided on a <br />regular contractual basis (utilities, trash removal, service contracts, <br />etc.) <br />b. All purchases shall be pre- approved by the Agent's Property <br />Supervisor. <br />c. Invoices will be matched with outstanding purchase orders by the <br />PM, reviewed for accuracy by the Property Supervisor, and then <br />vouchered for payment by the Agent's central office accounting <br />staff. Checks will be processed at least semi- monthly for payment <br />of any payables on hand. <br />Exhibit H - 10 - <br />