PROPERTY MANAGEMENT AGREEMENT
representative capacity, violated any such law. Should Owner sue Manager, Owner shall pay the full
costs of
Manager's attorney's fees and costs expended in defending itself, in the event Manager
prevails in such suit.
Nothing contained in this Agreement shall obligate Manager to employ legal
counsel to represent Owner in
any such proceeding or suit.
10.
Owner Representations: Owner represents and warrants: that Owner has full power and authority
to enter
into this Agreement; that there are no written or oral agreements affecting the Property other
than disclosed
tenant leases, copies of which have been furnished to Manager; that there are no
recorded easements, restrictions,
reservations or rights of way which adversely affect the use of the Property for the purposes intended under this
Agreement; that the Property is zoned for the intended use; that all permits for the operation of the Property have
been secured and are current; that any
underlying mortgages or related liens permit rental of the Property or
Property steps have been taken
to ensure the Property being used in a manner consistent with how it has been
represented to third
parties, that the building and its construction and operation do not violate any applicable
statutes, laws, ordinances, rules, regulations, orders or the like; that the information supplied by Owner is
dependable and accurate; and that any loans, notes, mortgages, dues or trust deeds are fully paid or
a re current
without defaults .
11.
Termination
A.
Early Termination: This Agreement may be terminated by either party at any time with 30 days
notice.
B.
Termination for Violation of Agreement or Law: Manager reserves the right to terminate this Agreement
with 30 days written notice if Owner is found to have violated the agreement. Manager
reserves t he right to
terminate this Agreement immediately if Owner acts in a manner which, at the discretion of Manage r, creates a
hostile or otherwise harmful relationship with Manager, or Owner is
found in violation of any federal, state, or
local law that may create a liability to Owner, impact the goodwill or public reputation of Manager, or
otherwise endanger Manger in any way.
C.
Owner Responsible for Payments : Upon termination, Owner shall pay Manager any fees,
commissions, and
expenses due to Manager for services already rendered or payments due through the month of termination.
Owner shall assume and satisfy the obligations of any contract or
outstanding bill incurred by Manager under this Agreement. Manager may withhold funds for up to 60
days
after the end of the month in which this Agreement is terminated in order to pay bills previously
incurred but
not yet invoiced and to close accounts. Manager shall deliver to Owner, within 60 days
after t he end of the month in which this Agreement is terminated, any balance of monies due Owner,
which
were held by the manager with respect to the Property, as well as a final accounting reflecting the balance of
income and expenses with respect to the Property as of the date of termination or
withdraw .
12.
Lead Based Paint Disclosure
Housing built before 1978 may contain lead
-
based paint. Before renting pre-1978 housing, Owner
must
disclose the presence of known lead-based and /or lead- based paint hazards in the Property. Owner represents
that:
Page 6 of 6
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