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E-mail: The customer can email cashmanagement@radiusbank.com the bank. PLEASE NOTE: Regular emails are not secure. Customers should not send confidential or sensitive information such as a social security number, account number, personal identification number or password in the text of an email or any attachment. Hard Lockbox: The borrower has no control over cash flow. Here`s how it works: all rents pass through the lender-controlled account and are then transferred to the cash management account. Tenants are ordered to pay rent directly into the lender`s controlled account or, in the case of a dwelling or hotel, rent must be paid into the account controlled after receipt by the administrator. On the date of payment, funds are transferred from the cash management account to the lender to service the debt and compensate the borrower for the monthly operating costs. Excess cash flow from the property is generally used in a cash guarantee, TI/LC or a fiduciary replacement reserve. 14.4 Notwithstanding the above, the Bank may terminate the contract without notice and/or suspend or suspend or suspend services provided to the customer in accordance with this report if the customer or bank closes an open account in connection with the Services; (ii) where the bank finds that the client has not maintained a financial position deemed satisfactory to the bank in order to minimize loans or other risks to the bank in the provision of services to the customer, including, but not limited to, the initiation of voluntary or involuntary proceedings under the U.S. Bankruptcy Act or any other status or settlement on bankruptcy or cancellation of debtors; (iii) in the event of a substantial breach, failure to comply with a clause or substantial breach of representation, contract or guarantee by the client; (iv) in the event of a delay in payment of the customer at the time of payment of an amount that the customer owes to the bank under that note or as part of a note or other agreement; (v) where accounts of clients, assets or real estate have been seized, seized or seized; (vi) where the Bank believes that immediate measures are needed to ensure the security of bank or customer funds; (vii) in the event of termination of a third-party contract by the customer or bank, necessary to perform one or more services; or (viii) if the bank reasonably believes that the continuation of the provision of services, pursuant to the terms of this agreement or an annex, would be contrary to federal, regional or local laws or regulations, or that it would risk taking unacceptable risks of loss. In the event of termination under the agreement, all banks liable for service fees under this contract are immediately due and payable on the termination date. Notwithstanding termination, this agreement remains fully in force and applies to all prior statements. Timing Is Everything One problem to mention is that both hard and soft lockbox can create cash flow problems due to the timing of rental income and the mortgage payment due date.

He can take the Lockbox bank one to three days after receiving the rent payments to provide the funds. In addition, the Lockbox Bank wire at Lender/Servicer must be installed one day in advance, effectively eliminating a day from the time bar. In essence, this means that if a loan has a payment date on the fifth day of the month, it is likely that the rents must be paid before the first or second day of the month to be used for that month`s payment.