Common use of Acceptance of Engagement Clause in Contracts

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph I, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled canceled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph Ii, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled canceled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph Ii, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annuallysemiannually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph Ii, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' 's annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled canceled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph Ii, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. 1. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled canceled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph Ii, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annuallysemiannually, of a tentative budget of expenses; l. 1. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph I, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. , Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts receipts, and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph I, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. 1. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding prececeding year. The cost of performing the accounting functions outlined in paragraphs h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph Ii, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled canceled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph I, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or for by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph Ii, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled canceled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph Ii, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled canceled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph Ii, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-semi- annually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.

Acceptance of Engagement. Manager hereby accepts its engagement as the manager of the Property and agrees to perform all services necessary for the care, protection, maintenance and operation of the Property, including the following: a. The collection of all rents and other income from the Property, provided that nothing herein contained shall constitute a guarantee by Manager of the payment of rent by tenants; b. The purchase, at the expense of Owner, of all equipment, tools, appliances, materials, supplies and uniforms necessary for the maintenance or operation of the Property; c. The contracting on behalf of Owner for water, gas, electricity and other services necessary for the operation and maintenance of the Property; d. The advertising for the rental of space in the Property, the cost of which shall be paid or by Owner; e. The use of all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of Owner all leases for space in the Property; f. The employment, discharge and payment of all employees or contractors necessary to be employed in the management and operation of the Property. Owner agrees that all wages (and federal and state unemployment insurance and other required charges) of such employees, and all compensation of such employees and contractors, shall be paid from Owner's funds; g. The preparation and filing of all returns returned and other documents (other than promissory notes, mortgages, deeds of trust or other documents or instruments which would encumber the Property) required under the Federal Insurance Contributions Act and the Federal Unemployment Tax Act, or any similar federal or state legislation. Manager shall also file returns and reports, and pay from Owner's funds, all sums as may from time to time be required by the state or locality in which the Property is located; h. The maintenance of full books of account with correct entries of all receipts and expenditures, which books of account shall be the property of Owner and shall at all times be open to the inspection of Owner or any of its employees or duly authorized agents; i. The furnishing to Owner of all lenders' annual property inspection letters regarding repairs necessary to avoid mortgage loan defaults. The furnishing monthly of a detailed statement of all receipts and disbursements for that month, such statement to be furnished on or before the 20th day of each month for the preceding month. Such statement shall show the status of collections and shall be supported by cancelled canceled checks, vouchers, duplicate invoices and similar documentation covering all items of income and expense, which shall be kept in Manager's office and shall be available for inspection by Owner's representatives at all times. Manager shall also furnish a monthly operating statement showing the income and expense for the month, and year to date, and for the same month of the preceding year. The cost of performing the accounting functions outlined in paragraphs h and I i shall be paid for by Owner pursuant to the terms of this Agreement; j. The furnishing of annual reports to Owner which shall contain a composite financial report of the monthly statements provided in accordance with paragraph Ii, plus a statement by Manager as to the operations of the Property during the previous year and recommendations, if any, as to necessary policy changes or improvements which should be implemented in the forthcoming year, which recommendations shall be accompanied by an estimated budget for such items; k. The furnishing from time to time, at least semi-annually, of a tentative budget of expenses; l. The furnishing from time to time, at least annually, of the following schedules: (1) forecast of rental and occupancy changes; (2) review of lease negotiations; (3) annual analysis of leases; and (4) schedule of capital improvements and method of financing such improvements; m. The furnishing, on a regular basis, of all forms necessary to operate and lease the Property and manage the personnel including, but not limited to, form leases, contracts and management policies; and n. During the initial term of this Agreement, supervising the transition from former ownership of the Property and implementing new management systems with respect to operation of the Property.