PROPERTY MANAGEMENT AGREEMENT
Page 5 of 5
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ii. Necessary expenses if the owner is not reasonably available for consultation. Agent is authorized to
immediately
make any repairs to chipping or peeling paint, consistent with MDE Lead Paint Poising
Prevention Program.
C.
Smoke and CO Detectors: At Owner's expense, smoke detectors and carbon monoxide detectors will be
installed on the Property in accordance with the law, prior to the tenant's occupancy.
During the
occupancy, it shall be the tenant's responsibility to maintain all smoke detectors and
carbon monoxide
detectors.
7.
Insurance
A.
Owners Insurance : Owner shall obtain and maintain adequate insurance against liability for loss,
damage or
injury to Property or persons which might arise out of the occupancy, management, use,
operation, or
maintenance of the Property.
B.
Tenants Insurance: All tenants procured by Manager are advised that it is recommended that they obtain
renters insurance and that Owner's insurance does not cover tenants personal items or affects.
Owner may
require tenants to obtain renters insurance by notifying Manager in writing prior to lease
execution.
8.
Manager Assumes No Liability: Manager assumes no liability for any damages, losses, or acts of
omission by the
tenant. Manager assumes no liability for any acts or omissions of Owner, previous
Owners or previous brokers.
Manager assumes no liability for default by any Tenant. Manager assumes
no liability for violations of
environmental or other regulations which may become known during the
term of this agreement. Any such
regulatory violations or hazards discovered by Manager shall be
brought to the attention of Owner, and Owner
shall promptly cure them. Manager shall not be liable in
t he event of bankruptcy or failure of the depository
bank where Owner's funds are deposited.
9.
Indemnification and Owner's Responsibilities to Defend:
A .
Generally: Owner shall indemnify, defend, and hold Manager harmless from all loss, investigation, suits,
damage, cost, expense (including attorneys' fees) liability or claims for personal injury or
property damage,
including vandalism, incurred or occurring
in,
on or about the Property.
B.
Indemnification survives termination: All representations and warranties of the parties contained herein,
including any provisions of this agreement that require owner to have insured or to defend, reimburse or
indemnify Manager shall survive the termination of this agreement. If Manager becomes
involved in any
proceeding or litigation by reason of having been Owner's Manager, such provisions
shall apply as if this
agreement we re still in effect.
C.
Litigation and Compliance Expenses: Owner shall pay all fines, penalties, or other expenses in
connect ion
with any claim proceeding, or suit involving an alleged violation of any law pertaining to
fair employment t,
fair credit reporting, environmental protection, rent control taxes or fair housing,
including illegal
discrimination on the basis of race, sex, color, religion, national origin, physical
handicap, familial status,
public assistance, age or all other classes protected by state, or federal law:
provided, however, that owner shall not be responsible to Manager for any such expenses if Manager is found
in a court of law or tribunal of property authority to have personally, and not in a
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