Budget and Business Plan. Owner and Pinnacle have established a budget and business plan for operation and management of the Project (the "Plan"). The Plan shall act as a general guide for the management of the Project by Pinnacle, and shall be updated and revised annually to reflect changes in conditions and actual Project operation and submitted to Owner for Owner's approval. Any expenditure in excess of $5,000.00 not specifically set forth in the Plan shall require Owner's advance approval, except as provided in Section 4.2 hereof. Owner agrees that the Plan is a budgeting tool only and does not constitute a guarantee of actual operating performance. The preliminary annual budget will be provided to Owner by October 1st and will be attached hereto as Exhibit A, with the final budget due to Owner by November 1st. The Plan shall include, at a minimum, the following:
Appears in 9 contracts
Samples: Property Management Agreement (Boston Capital Real Estate Investment Trust Inc), Property Management Agreement (Boston Capital Real Estate Investment Trust Inc), Property Management Agreement (Boston Capital Real Estate Investment Trust Inc)
