Common use of Alterations, Repairs and Maintenance Clause in Contracts

Alterations, Repairs and Maintenance. (a) Manager shall make or install, or cause to be made and installed at Owner’s expense and in the name of Owner, all necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal maintenance and repair work on and to the Project as are customarily made by Manager in the operation of first-class apartment projects; provided that no unbudgeted expenditure may be made for such purposes without the prior approval of RREM, except emergency repairs involving manifest danger to life or property, or when necessary to avoid criminal or civil liability, or for the safety of the tenants, or to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs may be made by the Manager without prior approval and irrespective of the cost limitations imposed by Section 2.03(a), provided that in each such instance, Manager shall, before causing any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensive. (b) In accordance with the terms of the approved Budget or upon written demand and/or approval (except in the case of emergency) of RREM, from time to time during the term hereof Manager shall, at Owner’s expense, make all required capital improvements, replacements or repairs to the Project. Subject to obtaining RREM’s prior written approval in regard to sums necessary to cover costs of unbudgeted capital improvements, Manager shall first use any excess funds in the Depository Account that are not committed to operating expenses, and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 in cost shall be approved by RREM.

Alterations, Repairs and Maintenance. (a) Manager shall make or install, or cause to be made and installed at Owner’s expense and in the name of Owner, all necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal maintenance and repair work on and to the Project as are customarily made by Manager in the operation of first-class apartment projects; provided that no unbudgeted expenditure may be made for such purposes without the prior approval of RREM, except emergency repairs involving manifest danger to life or property, or when necessary to avoid criminal or civil liability, or for the safety of the tenants, or to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs Project, may be made by the Manager without prior approval and irrespective of the cost limitations imposed by Section 2.03(a), provided that in each such instance, Manager shall, before causing any such Emergency Repairs emergency repair to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensive. (b) In accordance with the terms of the approved Budget or upon written demand and/or approval (except in the case of emergency) of RREM, from time to time during the term hereof Manager shall, at Owner’s expense, make all required capital improvements, replacements or repairs to the Project. Subject to obtaining RREM’s prior written approval in regard to sums necessary to cover costs of unbudgeted capital improvements, Manager shall first use any excess funds in the Depository Account that are not committed to operating expenses, and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 in cost shall be approved by RREM.

Alterations, Repairs and Maintenance. (a) Manager shall make or install, or cause to be made and installed at Owner’s expense and in the name of Owner, all necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal maintenance and repair work on and to the Project Projects as are customarily made by Manager in the operation of first-class apartment projects; provided that no unbudgeted expenditure may be made for such purposes without the prior approval of RREMOwner, except emergency repairs involving manifest danger to life or property, or when necessary to avoid criminal or civil liability, or for the safety of the tenants, or to avoid the suspension of any necessary service to the Project(“Emergency Projects (“Emergency Repairs”). Emergency Repairs may be made by the Manager without prior approval and irrespective of the cost limitations imposed by Section 2.03(a2.04(a), provided that in each such instance, Manager shall, before causing any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM Owner of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensive. (b) In accordance with the terms of the approved Budget or upon written demand and/or approval (except in the case of emergency) of RREMOwner, from time to time during the term hereof Manager shall, at Owner’s expense, make all required capital improvements, replacements or repairs to the ProjectProjects. Subject to obtaining RREMOwner’s prior written approval in regard to sums necessary to cover costs of unbudgeted capital improvements, Manager shall first use any excess funds in the Depository Account that are not committed to operating expenses, and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 in cost shall be approved by RREMOwner.

Alterations, Repairs and Maintenance. (a) Manager shall make or installAgent shall, at Owner's expense, perform or cause to be made and installed at Owner’s expense and in the name of Owner, performed all necessary or desirable repairs, interior and exterior maintenance, cleaning, painting and decorating, plumbing, alterations, replacements, replacements and improvements and other normal maintenance and repair work on in and to the Project Property as are customarily made by Manager in the operation of first-class apartment projectsproperties of the kind, size and quality of the Property; provided provided, however, that no unbudgeted expenditure may alterations, additions or improvements involving a fundamental change in the character of any of the buildings or constituting a major new construction program shall be made for such purposes without the prior written approval of RREMOwner (unless performed pursuant to any lease or budget previously approved by Owner). In addition, no unbudgeted expenditure in excess of $2,000 per item shall be made except emergency repairs involving manifest danger to life or propertyas provided for in Section 4.03, or when unless such repairs are immediately necessary to avoid criminal for the preservation or civil liabilitythe safety of the Property, or for the safety of the tenantstenants of the Property, or required to avoid the suspension of any necessary service to the Project(“Emergency Repairs”)Property, or are required by any judicial or governmental authority having jurisdiction. Emergency Repairs These repairs may be made by the Manager Agent without prior approval and irrespective regardless of the cost limitations imposed by this Section 2.03(a4.06(a); further, provided that in each such instance, Manager shall, before causing Agent shall as soon as practicable give written notice to Owner of any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it emergency repairs for which prior approval is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensiverequired. (b) In accordance with the terms of the approved Budget Budgets or upon written demand and/or approval (except in the case request of emergency) of RREMOwner, Agent shall, from time to time during the term hereof Manager shallhereof, at Owner’s 's expense, make or cause to be made all required capital improvements, replacements or repairs to the Project. Subject Property; provided, however, if Agent is required to obtaining RREM’s prior written approval perform extraordinary services in regard to sums necessary to cover costs of unbudgeted capital connection with such improvements, Manager repairs or replacements, which services exceed those customarily rendered by managing agents of properties similar to the Property, then Agent shall first use receive an additional fee therefore in an amount mutually agreed upon by Owner and Agent in advance of the rendition of such services. (c) Agent shall give Owner written notice of any excess funds material defect in the Depository Account Property and all parts thereof immediately after ascertainment thereof by Agent, including without limitation, material defects in the roofs, foundations and walls of the buildings and in the sewer, water, electrical, structural, plumbing, heating, ventilation and air conditioning systems; provided, however, that are not committed Agent shall have no obligation to operating expenses, and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 inspect the buildings in cost shall be approved by RREMorder to discover any such condition.

Alterations, Repairs and Maintenance. (a) Manager shall make or install, or cause to be made and installed installed, or do or cause to be done at Owner’s 's expense and in the name of Owner, all necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal maintenance and repair work on and to the Project as are customarily made by Manager in the operation of first-class apartment projects; provided provided, however, that no unbudgeted expenditure in excess of $5,000.00 per item or a total of $20,000.00 annually may be made for such purposes without the prior approval of RREMOwner, except unless emergency repairs involving manifest danger to life or propertyproperty are immediately necessary for the preservation of the safety of the Project, or when necessary to avoid criminal or civil liability, liability or for the safety of the tenants, or are required to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs Project, in which event such expenditures may be made by the Manager without prior approval and irrespective of the cost limitations imposed by this Section 2.03(a)2.6, provided that in each Owner is immediately thereafter given notice of such instance, Manager shall, before causing any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do situation and all costs so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensiveincurred. (b) In accordance with the terms of the approved Budget or upon after consultation with, and written demand and/or approval by, Owner (except in the case of emergency) of RREM, in which case such consultation shall be by telephone), Manager shall, at Owner's expense, from time to time during the term hereof Manager shall, at Owner’s expensehereof, make all required capital improvements, replacements or repairs to the Project. Subject to obtaining RREM’s Owner's prior written approval in regard to sums necessary to cover costs of unbudgeted such capital improvementsreplacements or repairs, Manager shall first use any excess funds in the Depository Account that are not committed held pursuant to operating expenses, Section 4.5 and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 in cost shall be approved by RREMOwner.

Alterations, Repairs and Maintenance. (a) Property Manager shall make or installshall, at Owner’s expense, perform or cause to be made and installed at Owner’s expense and in the name of Owner, performed all necessary or desirable repairs, interior and exterior maintenance, cleaning, painting and decorating, plumbing, alterations, replacements, replacements and improvements and other normal maintenance and repair work on in and to the Project Property as are customarily made by Manager in the operation of first-class apartment projects; provided properties of the kind, size and quality of the Property (including, but not limited to, tenant improvements) provided, however, that no unbudgeted expenditure may alterations, additions or improvements involving a fundamental change in the character of any of the Building or constituting a major new construction program shall be made for such purposes without the prior written approval of RREMOwner (unless performed pursuant to any lease previously approved by Owner). In addition, except no unbudgeted expenditure in excess of $2,500 per item shall be made without prior written approval of Owner, provided, however, that emergency repairs involving manifest danger to life or property, property or when immediately necessary to avoid criminal for the preservation or civil liability, the safety of the Property or for the safety of the tenants, tenants of the Property or required to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs Property or required by any judicial or governmental authority having jurisdiction may be made by the Property Manager without prior written approval and irrespective of the cost limitations imposed by this Section 2.03(a3.06 (a); further, provided that in each such instance, Property Manager shall, before causing shall give immediate telephone and written notice to Owner of any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it emergency repairs for which prior approval is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensiverequired. (b) In accordance with Upon written request and at the terms direction of the approved Budget or upon written demand and/or approval (except in the case of emergency) of RREMOwner, Property Manager shall, from time to time during the term hereof Manager shallhereof, at Owner’s expense, make or cause to be made all required capital improvements, replacements or repairs to the Project. Subject Property. (c) In connection with the construction of any alterations, additions or improvements to obtaining RREM’s prior written approval the Property by tenants, Property Manager shall: (i) regularly inspect and supervise the progress of the construction; (ii) review construction draw requests to ensure compliance with applicable contract and/or lease provisions; (iii) make payments in regard accordance with draw requests; and (iv) coordinate construction activities (e.g. use of elevators, utility disruptions, noise) to sums necessary to cover costs minimize interference with tenants’ use of unbudgeted capital improvements, the Property. (d) Property Manager shall first use give Owner written notice of any excess funds material or latent defect in the Depository Account that are not committed to operating expensesProperty and all parts thereof immediately after ascertaining thereof by Property Manager, including without limitation, material defects in the roofs, foundations and then walls of the building and in the sewer, water, electrical, structural, plumbing, heating, ventilation and air conditioning systems. Property Manager shall use funds furnished by promptly give Owner for that purposenotice of any casualty affecting the Property. The award Property Manager shall make periodic visual inspections of a contract for a capital improvement exceeding $5,000 in cost shall be approved by RREMthe Property consistent with its expertise.

Alterations, Repairs and Maintenance. (a) Manager shall make or installAgent shall, at Owner's expense, perform or cause to be made and installed at Owner’s expense and in the name of Owner, performed all necessary or desirable repairs, interior and exterior maintenance, cleaning, painting and decorating, plumbing, alterations, replacements, replacements and improvements and other normal maintenance and repair work on in and to the Project Property as are customarily made by Manager in the operation of first-class apartment projectsproperties of the kind, size and quality of the Property; provided provided, however, that no unbudgeted expenditure may alterations, additions or improvements involving a fundamental change in the character of any of the buildings or constituting a major new construction program shall be made for such purposes without the prior written approval of RREM, Owner. No unbudgeted expenditures shall be made except emergency repairs involving manifest danger to life or propertyas provided for in Section 4.03, or when unless such repairs are immediately necessary to avoid criminal for the preservation or civil liabilitythe safety of the Property, or for the safety of the tenantstenants of the Property, or required to avoid the suspension of any necessary service to the Project(“Emergency Repairs”)Property or required by any judicial or governmental authority having jurisdiction. Emergency Repairs These repairs may be made by the Manager Agent without prior approval and irrespective regardless of the cost limitations imposed by this Section 2.03(a4.06(a); further, provided that in each such instance, Manager shall, before causing Agent shall as soon as practicable give written notice to Owner of any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it emergency repairs for which prior approval is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensiverequired. (b) In accordance with the terms of the approved Budget Budgets or upon written demand and/or approval (except in the case request of emergency) of RREMOwner, Agent shall, from time to time during the term hereof Manager shallhereof, at Owner’s 's expense, make or cause to be made all required capital improvements, replacements or repairs to the Project. Subject Property; provided, however, if Agent is required to obtaining RREM’s prior written approval perform extraordinary services in regard to sums necessary to cover costs of unbudgeted capital connection with such improvements, Manager repairs or replacements, which services exceed those customarily rendered by managing agents of properties similar to the Property, then Agent shall first use receive an additional fee therefore in an amount mutually agreed upon by Owner and Agent in advance of providing such services. (c) Agent shall give Owner written notice of any excess funds material defect in the Depository Account Property and all parts thereof immediately after ascertainment thereof by Agent, including without limitation, material defects in the roofs, foundations and walls of the buildings and in the sewer, water, electrical, structural, plumbing, heating, ventilation and air conditioning systems; provided, however, that are not committed Agent shall have no obligation to operating expenses, and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 inspect the buildings in cost shall be approved by RREMorder to discover any such condition.

Alterations, Repairs and Maintenance. (a) Property Manager shall make or installshall, at Owner’s expense, perform or cause to be made and installed at Owner’s expense and in the name of Owner, performed all necessary or desirable repairs, interior maintenance, replacements and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal maintenance and repair work on in and to the Project as are customarily made by Manager Properties subject to the limitations set forth in the operation of first-class apartment projectsAnnual Budget; provided provided, however, that no unbudgeted alterations, additions or improvements involving a fundamental change in the character of any Property or constituting a major new construction program shall be made without the prior written approval of Owner. In addition, no unbudgeted expenditure may in excess of that permitted under Section 3.2(b) hereof shall be made for such purposes without the prior written approval of RREMOwner. However, except emergency repairs involving manifest danger to life or property, immediately necessary for the preservation or when necessary to avoid criminal or civil liability, the safety of a Property or for the safety of the tenants, tenants of a Property or required to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs a Property may be made by the Property Manager without prior approval and irrespective regardless of the cost limitations imposed by this Section 2.03(a3.6(a), ; provided that emergency repairs undertaken without the prior approval of Owner must be confirmed in each writing to Owner within 24 hours following the making of such instance, Manager shall, before causing any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensiverepairs. (b) In accordance with the terms of the approved Annual Budget or and upon written demand request and/or approval (except in the case of emergency) of RREMOwner, Property Manager shall, from time to time during the term hereof Manager shallhereof, at Owner’s expense, make or cause to be made all required capital improvements, replacements or repairs to the Project. Subject to obtaining RREM’s prior written approval in regard to sums necessary to cover costs of unbudgeted capital improvements, Properties. (c) Property Manager shall first use give Owner written notice of any excess funds material or latent defect in any Property and all parts thereof known to Property Manager promptly after such defect comes to Property Manager’s attention. Property Manager shall make periodic visual inspections of the Depository Account that are not committed Properties. Property Manager shall have no obligation to operating expensesdiscover any such condition or make any other inspections, and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 in cost but Property Manager shall be approved by RREMrequired to ascertain the existence of any contractor/subcontractor warranty or guaranty and to submit a request to the appropriate contractor/subcontractor to repair the defect as necessary.

Alterations, Repairs and Maintenance. (a) Manager shall initiate, make or install, or cause to be made and installed installed, or do or cause to be done at Owner’s 's expense and in the name of Owner, all necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal maintenance and repair work on and to the Project, including those which Owner is required to make pursuant to the leases, sufficient to maintain the Project in first-class condition and repair and in accordance with the terms of all leases of the Project; provided, however, that the foregoing shall not be construed as obligating Manager to undertake any construction activities or to repair, replace or renovate any portion of the Property which is the subject of new construction. All such expenditures are customarily to be made in the name of Owner and shall only be incurred by Manager in accordance with the operation of first-class apartment projects; provided that no unbudgeted expenditure may be made for such purposes without the prior approval of RREMBudget, except unless emergency repairs involving manifest danger to that threaten life or propertyproperty are immediately necessary for the preservation of the life or safety of any person or of the safety of the Project, or when necessary to avoid criminal or civil liabilityliability of Owner or Manager, or for the safety of the tenants, or are required to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs Project, in which event such expenditures may be made by the Manager without prior approval and irrespective of the cost limitations imposed by this Section 2.03(a)2.06; provided, provided however, that in each such instance, Manager shall, before causing any such Emergency Repairs emergency repair to be made, use commercially reasonable efforts under the circumstances to notify RREM Owner of that the necessity of the repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensive. (b) In accordance with the terms of the approved Capital Budget or upon written demand and/or or approval of Owner (except in the case of an emergency) of RREM), Manager shall, at Owner's expense, from time to time during the term hereof Manager shall, at Owner’s expensehereof, make all required capital improvements, replacements or repairs to the Project. Subject to obtaining RREM’s Owner's prior written approval in regard to sums necessary to cover costs of unbudgeted such capital improvementsreplacements or repairs, Manager shall first use any excess funds in the Depository Account that are not committed Excess Funds held pursuant to operating expenses, Section 4.05 and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 in cost shall be approved by RREMOwner.

Alterations, Repairs and Maintenance. (a) Manager shall make or install, or cause to be made and installed installed, or do or cause to be done at Owner’s 's expense and in the name of Owner, all necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal maintenance and repair work on and to the Project Property as are customarily made by Manager in the operation of first-class apartment projectsproperties; provided provided, however, that no unbudgeted expenditure in excess of $1,000 per item or a total of $5,000 annually may be made for such purposes without the prior approval of RREMOwner, except unless emergency repairs involving manifest danger to life or property, or when property are immediately necessary to avoid criminal or civil liabilityfor the preservation of the safety of the Property, or for the safety of the tenants, or are required to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs Property, or are required to comply with local codes or laws in which event such expenditures may be made by the Manager without the prior approval of Owner and irrespective of the cost limitations imposed by this Section 2.03(a), provided that in each such instance, Manager shall, before causing any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensive2.06. (b) In accordance with the terms of the approved Budget or upon written demand and/or approval (except in the case of emergency) of RREMOwner, Manager shall, at Owner's expense, from time to time during the term hereof Manager shall, at Owner’s expensehereof, make all required capital improvements, replacements or repairs to the ProjectProperty. Subject Any extraordinary supervisory cost of Manager's or an affiliate of Manager's employees shall be paid for by Owner pursuant to obtaining RREM’s prior written approval in Section 3.03. In regard to sums necessary to cover costs of unbudgeted such capital improvementsreplacements or repairs, Manager shall first use any excess funds in the Depository Account that are not committed held pursuant to operating expenses, Section 4.05 and then shall use from funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 in cost shall be approved by RREMOwner.

Alterations, Repairs and Maintenance. (a) Manager shall make or install, or cause to be made and installed at Owner’s expense and in the name of Ownerinstalled, all necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal maintenance and repair work on and to the Project Property as are customarily made by Manager in the operation and management of first-class multifamily apartment projectsproperties and/or affordable housing projects with similar characteristics to the Property in the same geographical as the Property; provided that no unbudgeted expenditure may be made for such purposes without the prior approval of RREMCounty. Notwithstanding the foregoing, except Manager shall make emergency repairs involving manifest danger to life or property, or when necessary to avoid criminal or civil liability, or for the safety of the tenants, or to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs may be made by Property within 24 hours of becoming aware of the Manager incident without County’s prior approval and irrespective of whether such costs exceed the cost limitations imposed by Section 2.03(a)approved Budget, provided that in each such instance, Manager shall, before causing any such Emergency Repairs emergency repair to be made, use reasonable commercial efforts under the circumstances to notify RREM County of that repair. All such work shall be performed by Project Property Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensive. (b) In accordance with the terms of the approved Budget or upon written demand and/or approval (except in the case of emergency) of RREMCounty, from time to time during the term hereof Term Manager shall, at OwnerCounty’s expense, make all required capital improvements, replacements or repairs to the ProjectProperty. Subject to obtaining RREMCounty’s prior written approval in regard to sums necessary to cover costs of unbudgeted capital improvements, Manager shall first use any excess funds in the Depository Account Operating Account, that are not committed to operating expenses, and then shall use funds furnished by Owner County for that purpose. The award of a contract for a . (c) In the event any alterations or repairs, including capital improvement exceeding $5,000 in cost alterations or repairs, are not performed by Property Personnel, Manager shall be approved by RREMcomply with the contracting and public works requirements set forth on Schedule 2.06 attached hereto.

Alterations, Repairs and Maintenance. (a) To the extent adequate funds are made available to Manager by Owner for these purposes, Manager shall make or install, or cause to be made and installed at Owner’s expense 's expense, and in the name of Owner, all necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal maintenance and repair work on and to the Project as are customarily made by Manager in the operation of first-class apartment projectsProjects or are required by any lease; provided provided, however, that no unbudgeted expenditure expenditures in excess of $1,000 per item, or a total of $5,000 annually, may be made for such purposes without the prior approval of RREM, except Owner. Manager may make emergency repairs involving manifest danger to life or property, or when property which are immediately necessary to avoid criminal or civil liabilityfor the preservation of the safety of the Project, or for the safety of the tenants, or are required to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs Project, in which event such reasonable expenditures may be made by the Manager without prior approval and irrespective of the cost limitations imposed by this Section 2.03(a)2.07, provided that Owner or its successor in each interest is notified in a timely manner and thereafter given written notice of such instance, Manager shall, before causing any situation and such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensivecosts incurred. (b) In accordance with the terms of the approved Budget or upon written demand and/or approval (except in the case of emergency) of RREMOwner, Manager shall, at Owner's expense, from time to time during the term hereof Manager shall, at Owner’s expensehereof, make all required capital improvements, replacements or repairs to the Project. Subject to obtaining RREM’s Owner's prior written approval in with regard to sums necessary to cover costs of unbudgeted such capital improvementsreplacement or repairs, Manager shall first use any excess funds in the Depository Account that are not committed available from operations and/or reserves and upon exhausting such funds will then request funds to operating expenses, and then shall use funds be furnished by Owner the Owner. All extraordinary supervision cost incurred by Manager or Manager's employees shall be paid for that purposeout of funds for replacements or repairs. Manager shall provide cap ex and/or due diligence type services on a time and materials basis. The award of a contract rate for a capital improvement exceeding $5,000 in cost such services shall be approved determined jointly by RREMManager and Owner.

Alterations, Repairs and Maintenance. (a) Manager shall make or installuse commercially reasonable efforts, or cause to be made and installed at Owner’s expense 's expense, to maintain the Project in good repair and condition. Manager shall, in Owner's name and at Owner's expense, hire and discharge independent contractors for the name repair and maintenance of Owner, all the Project to the extent involvement of outside parties is necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal for completion of such work. Expenditures for maintenance and repair work on and are subject to the Project as are customarily made by Manager in the operation Budget-related limitations of first-class apartment projects; provided that no unbudgeted expenditure may be made for such purposes without the prior approval of RREMthis Agreement, except emergency repairs involving manifest danger to life or property, or when necessary to avoid criminal or civil liability, or for the safety of the tenants, or to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs may be made by the Manager without prior approval and irrespective of the cost limitations imposed by Section 2.03(a), provided that in each such instance, Manager shall, before causing any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensive. (b) In accordance with the terms of the approved Budget or upon written demand and/or approval (except in the case of emergency) emergency repairs necessary to prevent injury to residents or others on or about the Project or damage to the Project or property of RREMothers located on or about the Project, from time to time during the term hereof Manager shallin which case expenditures may be made by Manager, at Owner’s expense, make without prior approval up to amounts not to exceed $10,000.00 in the aggregate, but thereafter, only with Owner's prior written consent, but Owner shall in any case be notified as soon as practicable. (b) Manager shall implement capital replacements, substitutions and additions for the Project that are provided for in the Capital Budget. Owner shall be responsible for all required costs of such capital improvementsreplacements, replacements or repairs to substitutions and additions for the ProjectProject and Owner shall pay all such costs directly and reimburse Manager for any such costs incurred by Manager; provided, however, Manager shall not exceed the amount allowed by the Capital Budget for such capital replacement, substitution and addition without obtaining Owner's prior written consent. Subject to obtaining RREM’s prior written approval the terms of the immediately preceding sentence, if Owner fails to reimburse Manager for all costs incurred by Manager in regard connection with such capital replacements, substitutions and additions for the Project, then Manager will be excused from performance of its responsibilities under this Section 2.6(b); provided, however, that to sums necessary to cover the extent such costs are payable through the submission of unbudgeted capital improvementsa draw request, Manager shall first use any excess funds perform on behalf of Owner, as provided in Section 5.2(e). Owner may elect to utilize the Depository Account that are not committed services offered by Greystar’s regional maintenance for an additional fee agreed to operating expenses, and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 in cost shall be approved by RREMand Manager.

Alterations, Repairs and Maintenance. (a) Manager shall make or install, or cause to be made and installed at Owner’s expense and in the name of Owner, all necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal maintenance and repair work on and to the Project Projects as are customarily made by Manager in the operation of first-class apartment office projects; provided that no unbudgeted expenditure may be made for such purposes without the prior approval of RREMOwner, except emergency repairs involving manifest danger to life or property, or when necessary to avoid criminal or civil liability, or for the safety of the tenants, or to avoid the suspension of any necessary service to the Project(“Emergency Projects (“Emergency Repairs”). Emergency Repairs may be made by the Manager without prior approval and irrespective of the cost limitations imposed by Section 2.03(a2.04(a), provided that in each such instance, Manager shall, before causing any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM Owner of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensive. (b) In accordance with the terms of the approved Budget or upon written demand and/or approval (except in the case of emergency) of RREMOwner, from time to time during the term hereof Manager shall, at Owner’s expense, make all required capital improvements, replacements or repairs to the ProjectProjects. Subject to obtaining RREMOwner’s prior written approval in regard to sums necessary to cover costs of unbudgeted capital improvements, Manager shall first use any excess funds in the Depository Account that are not committed to operating expenses, and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 in cost shall be approved by RREMOwner.

Alterations, Repairs and Maintenance. (a) Manager shall make or installuse commercially reasonable efforts, or cause to be made and installed at Owner’s expense expense, to maintain the Property in good repair and condition. Manager shall, in Owner’s name and at Owner’s expense, hire and discharge independent contractors for the name repair and maintenance of Owner, all the Property to the extent involvement of outside parties is necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal for completion of such work. Expenditures for maintenance and repair work on and are subject to the Project as are customarily made by Manager Budget-related limitations of this Agreement, except in the operation case of first-class apartment projects; provided that no unbudgeted expenditure may be made for such purposes without the prior approval of RREM, except emergency repairs involving manifest danger to life or property, or when necessary to avoid criminal or civil liability, or for the safety of the tenants, or to avoid the suspension an Emergency. Manager shall give prompt written notice of any necessary service Emergency repairs to the Project(“Emergency Repairs”). Emergency Repairs may be made by the Manager without Owner and, circumstances permitting, shall use commercially reasonable efforts to secure Owner’s prior written approval and irrespective of thereof if the cost limitations imposed by Section 2.03(a)of such Emergency repairs exceed $10,000. However, provided that in each such instancethe event of an Emergency which requires immediate repair or alteration, and Owner is not readily available for consultation, Manager shallshall be authorized to use its reasonable commercial judgment regarding the same; provided, before causing in such event Manager shall notify Owner of any such Emergency Repairs repairs or alterations promptly thereafter and shall provide to be made, use reasonable efforts Owner invoices reflecting the expenses of such repairs as directed by Owner. It is understood that any action taken by Manager under this Section 2.6(a) in connection with any particular Emergency event shall not create precedent or a duty on the circumstances part of Manager or Owner to notify RREM of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensivetake any action in connection with any future event. (b) In accordance with Manager shall implement capital replacements, substitutions and additions for the Property that are provided for in the Budget and, at Owner’s expense, as may be required due to an Emergency. Owner shall be responsible for all costs of such capital replacements, substitutions and additions for the Property and Owner shall pay all such costs directly and reimburse Manager for any such costs incurred by Manager; provided, however, Manager shall not exceed the amount allowed by the Budget for such capital replacement, substitution and addition without obtaining Owner’s prior written consent, except in the event of an Emergency in which case the procedures set forth in Section 2.6(a) above shall apply. Subject to the terms of the immediately preceding sentence, if Owner fails to reimburse Manager for all costs incurred by Manager in connection with such capital replacements, substitutions and additions for the Property, then Manager will be excused from performance of its responsibilities under this Section 2.6(b); provided, however, that to the extent such costs are payable through the submission of a draw request, Manager shall perform on behalf of Owner, as provided in Section 5.2(e). Renovation projects are defined as projects in which the work centers around upgrading or otherwise renovating the individual units or buildings, and is not work considered simple general maintenance or repairs. For all renovation projects that are specifically reviewed with, and approved Budget or upon by Owner, the Owner shall pay Manager a fee to supervise such renovation projects equal to five percent (5%) of the total cost of the completed work. (c) The provisions of this Section 2.6(c) shall be subject to the provisions of Section 2.11. Manager shall make periodic visual inspections of the Property, at such intervals as prudent practice dictates and in any case at least quarterly. Following the completion of each such inspection, Manager shall give to Owner a written demand and/or approval (except summary of any material physical shortcomings, including violations of any applicable laws, defects in the case Property, water infiltration or mold that come to Manager’s attention. Manager also shall give Owner written notice of emergencyany material physical shortcomings (including violations of any applicable laws, defects in the Property, water infiltration or mold) that come to Manager’s attention between scheduled periodic inspections. Manager shall correct any physical shortcomings as soon as reasonably practicable under the circumstances to the extent that correction is within the scope of RREMroutine maintenance and repair activities for the Property and can be executed within the limits of the then-existing approved Budget. If correction of any physical shortcomings requires work outside the scope of routine maintenance and repair activities for the Property or cannot be executed within the limits of the then-existing approved Budget, from time Manager shall submit to time during the term hereof Manager Owner its recommendation for corrective actions and, after consultation with Owner, shall, at Owner’s expense, make all required capital improvementsexecute such corrective measures as Owner may direct. Manager may not execute any corrective measures to address physical shortcomings that require work outside the scope of routine maintenance and repair activities for the Property or that cannot be executed within the limits of the then-existing approved Budget, replacements or repairs except to the Project. Subject to obtaining RREM’s prior written approval in regard to sums necessary to cover costs of unbudgeted capital improvements, Manager shall first use any excess funds in the Depository Account that are not committed to operating expenses, and then shall use funds furnished extent otherwise approved by Owner for that purpose. The award or arising as a result of a contract for a capital improvement exceeding $5,000 any Emergency, in cost shall be approved by RREMwhich event the provisions of Section 2.6(a) will apply.

Alterations, Repairs and Maintenance. (a) Manager shall make or installAgent shall, at Owner's expense, perform or cause to be made and installed at Owner’s expense and in the name of Owner, performed all necessary or desirable repairs, interior and exterior maintenance, cleaning, painting and decorating, plumbing, alterations, replacements, replacements and improvements and other normal maintenance and repair work on in and to the Project Property as are customarily made by Manager in the operation of first-class apartment projectsproperties of the kind, size and quality of the Property; provided provided, however, that no unbudgeted expenditure may alterations, additions or improvements shall be made for such purposes without the prior written approval of RREMOwner (unless performed pursuant to any lease or budget previously approved by Owner). In addition, no unbudgeted expenditure in excess of $2,000 per item shall be made except emergency repairs involving manifest danger to life or propertyas provided for in Section 4.03, or when unless such repairs are immediately necessary to avoid criminal for the preservation or civil liabilitythe safety of the Property, or for the safety of the tenantstenants of the Property, or required to avoid the suspension of any necessary service to the Project(“Emergency Repairs”)Property, or are required by any judicial or governmental authority having jurisdiction. Emergency Repairs These repairs may be made by the Manager Agent without prior approval and irrespective regardless of the cost limitations imposed by this Section 2.03(a4.06(a); further, provided that in each such instance, Manager shall, before causing Agent shall as soon as practicable give written notice to Owner of any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it emergency repairs for which prior approval is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensiverequired. (b) In accordance with the terms of the approved Budget Budgets or upon written demand and/or approval (except in the case request of emergency) of RREMOwner, Agent shall, from time to time during the term hereof Manager shallhereof, at Owner’s 's expense, make or cause to be made all required capital improvements, replacements or repairs to the Project. Subject Property; provided, however, if Agent is required to obtaining RREM’s prior written approval perform extraordinary services in regard to sums necessary to cover costs of unbudgeted capital connection with such improvements, Manager repairs or replacements, which services exceed those customarily rendered by managing agents of properties similar to the Property, then Agent shall first use receive an additional fee therefore in an amount mutually agreed upon by Owner and Agent in advance of any excess funds work to be performed. (c) Agent shall give Owner written notice of any material defect in the Depository Account Property and all parts thereof immediately after ascertainment thereof by Agent, including without limitation, material defects in the roofs, foundations and walls of the buildings and in the sewer, water, electrical, structural, plumbing, heating, ventilation and air conditioning systems; provided, however, that are not committed Agent shall have no obligation to operating expenses, and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 inspect the buildings in cost shall be approved by RREMorder to discover any such condition.

Alterations, Repairs and Maintenance. (a) Manager shall make or installshall, or cause to be made and installed at Owner’s expense expense, maintain the Project in good repair and condition in accordance with the Standard and shall promptly notify Owner upon obtaining actual knowledge that the condition of the Project fails to meet the Standard. Manager shall, in Owner’s name and at Owner’s expense, hire and discharge independent contractors for the repair and maintenance of Owner, all the Project to the extent involvement of outside parties is necessary or desirable repairs, interior and exterior cleaning, painting and decorating, plumbing, alterations, replacements, improvements and other normal for completion of such work. Expenditures for such maintenance and repair work are subject to the previously approved line item Budget-related limitations of this Agreement, except in the case of the following necessary expenditures: emergency repairs necessary to prevent imminent threat of injury to residents or others on and or about the Project or imminent threat of damage to the Project as are customarily made by or property of others located on or about the Project, in which case Manager in the operation agrees to give prompt notice to Owner of first-class apartment projects; provided that no unbudgeted expenditure may be made for such purposes without the any emergency repairs and to make reasonable efforts to secure Owner’s prior written approval of RREM, except such emergency repairs involving manifest danger in accordance with this Agreement; provided, however, that if Manager is unable to life or propertyobtain Owner’s prior written approval despite such reasonable efforts, or when such necessary to avoid criminal or civil liability, or for the safety of the tenants, or to avoid the suspension of any necessary service to the Project(“Emergency Repairs”). Emergency Repairs expenditures may be made by the Manager without prior approval and irrespective of the cost limitations imposed by Section 2.03(athis Agreement (provided, further, that Manager shall notify Owner promptly SMRH:479313063.2 (and in any event no later than three (3) business days) following the incurrence of such expenditures, together with a written, reasonably detailed break-down and explanation therefor), provided that in each such instance, Manager shall, before causing any such Emergency Repairs to be made, use reasonable efforts under the circumstances to notify RREM of that repair. All such work shall be performed by Project Personnel unless it is not reasonable for them to do so due to the expertise, time constraints, or other considerations involved, and/or because having them do so is more expensive. (b) In Manager shall provide Construction Management Services in connection with any capital improvements or major repairs for the Project approved by Owner and provided for in the Capital Budget. The Construction Management Services shall include, to the extent required in connection with any particular work (but subject to Owner’s approval in all events, as applicable), analyzing plans and specifications and suggesting revisions thereof; suggesting contractors; negotiating all contracts; monitoring the construction schedule and the quality of workmanship (without liability for latent or patent defects); obtaining or causing to be obtained all necessary governmental permits and approvals; coordinating labor and material suppliers; managing the change order process; obtaining and reviewing all necessary lien waivers and releases; reviewing all payment requests pursuant to the contract documents; assisting contractors in obtaining certificates of occupancy, or equivalent documents; conducting final walk‑throughs and reviewing punch lists. Owner acknowledges that Manager shall have no responsibility for the actual design and/or performance of such construction work and that all liability for the actual performance of such services in accordance with the terms requirements of the approved Budget Contracts shall be borne by the third party service providers pursuant to such Contracts with Owner, except to the extent of Manager’s gross negligence or upon written demand and/or approval willful misconduct. Manager shall receive a fee for such oversight of capital replacements in accordance with Section 3.01. (except c) Manager is not responsible for uncovering violations of building, zoning, subdivision, environmental, fire or other codes or other laws and regulations (including laws relating to accessibility) or for defects or other shortcomings in the case Project or its construction. Manager’s responsibility as to such matters will be limited to advising Owner of emergency) problems that come to the attention of RREM, from time to time during the term hereof Manager shalland implementing, at Owner’s expensecost, make all required capital improvements, replacements remedial steps directed by Owner on terms consistent with Section 2.07(b). (d) No single expenditure to any individual or repairs to entity in excess of $10,000 not set forth in the Project. Subject to obtaining RREM’s Budget shall be allowed without the prior written approval of Owner. Owner may, as to any Contract for which calls for expenditure by the Company [in regard excess of $10,000 require Manager to sums necessary obtain such a number of competitive bids from qualified contractors and vendors for such Contract as Owner may reasonably determine and otherwise in accordance with a competitive bidding process Owner reasonably instructs Manager to cover costs implement. Any vendors who are Manager Affiliates are to be disclosed to Owner prior to the commencement of unbudgeted capital improvements, Manager shall first use any excess funds in the Depository Account that are not committed to operating expenses, and then shall use funds furnished by Owner for that purpose. The award of a contract for a capital improvement exceeding $5,000 in cost shall be approved by RREMbidding process.