Common use of Duties of Owner Clause in Contracts

Duties of Owner. Owner accepts and agrees to perform, the following duties: A. Remit any excess of disbursements and charges over receipts to Manager within ten days of oral or written notice advising Owner of the amount of the deficiency. B. Take notice of the condition of the Property and, subject to the availability of funds, establish goals to upgrade and maintain the Property. C. Assume the obligation of any contract entered into legally and for the benefit of the Owner pursuant to this agreement at the termination of this agreement. For example, if Manager has entered into an agreement for repairs of the property, Owner shall be responsible for the payment of the agreement even if this agreement has been terminated by either party. D. To pay all expenses incurred by the Manager, including without limitation, attorneys’ fees for counsel employed to represent the Manager, the Owner or both of them in any proceeding, controversy or suit involving the property, the ownership or operation thereof. Nothing herein contacting shall require the Manager to employ counsel to represent the Owner in any such proceeding or suit. In this regard, Owner agrees to indemnify, defend and save the Manager harmless from all claims, investigations and suits with respect to any alleged or actual violations of State, Federal, City or County labor laws, it being expressly agreed and understood that as between the Owner and the Manager, all persons employed in connection with the Property are employees of the Manager. The Owner’s obligations under this paragraph shall include payment of all settlements, judgments, demands, liquidated damages, penalties, forfeitures, back pay awards, court costs, litigation expenses and attorneys’ fees. However, protection is not afforded by applicable insurance coverage where the claim is based upon the willful negligence of the Manager or its employees.

Duties of Owner. Owner accepts and agrees to perform, the following duties: A. Remit any excess of disbursements and charges over receipts to Manager within ten days of oral receiving their Monthly Owner statement or written verbal notice advising Owner of the amount of the deficiency. B. Take notice of the condition of the Property and, subject to the availability of funds, establish goals to upgrade and maintain the Property. C. Assume the obligation of any contract entered into legally and for the benefit of the Owner pursuant to this agreement at the termination of this agreement. For example, if Manager has entered into an agreement for repairs of the property, Owner shall be responsible for the payment of the agreement even if this agreement has been terminated by either party. . D. To pay all expenses incurred by the Manager, including without limitation, attorneys’ fees for counsel employed to represent the Manager, the Owner or both of them in any proceeding, controversy or suit involving the property, the ownership or operation thereof. Nothing herein contacting shall require the Manager to employ counsel to represent the Owner in any such proceeding or suit. In this regard, Owner agrees to indemnify, defend and save the Manager harmless from all claims, investigations and suits with respect to any alleged or actual violations of State, Federal, City or County labor laws, it being expressly agreed and understood that as between the Owner and the Manager, all persons employed in connection with the Property are employees of the Manager. The Owner’s obligations under this paragraph shall include payment of all settlements, judgments, demands, liquidated damages, penalties, forfeitures, back pay awards, court costs, litigation expenses and attorneys’ fees. However, protection is not afforded by applicable insurance coverage where the claim is based upon the willful negligence of the Manager or its employees. E. To indemnify, defend and save Manager harmless from all suits in conjunction with the property and from liability for damage to property and injuries to or death of an employee or other person whomsoever. Owner further agrees that Manager shall not be liable to Owner for any damages caused by tenant or others to either interior or exterior of the property. In addition, Owner agrees that cash, checks and any other medium of exchange used for paying rents, security deposits, etc., are the property of the Owner and the Manager shall not be liable except in the case of gross negligence. F. Owner agrees that Manager does not assume and is given no responsibility for compliance of the property or any equipment therein with the requirements of any statue, ordinance, law, or regulation of any governmental body or of any public authority or official thereof having jurisdiction, except to notify Owner promptly or forward to Owner promptly any complaints, warnings, notices or summonses received by Manager relating to such matters. Owner represents that to the best of his/her knowledge the property and equipment comply with all such requirements and authorizes Manager to disclose the ownership of the property to any such official and agrees to indemnify and save harmless the Manager, its representatives, servants and employees, of and from all loss, cost, expense and liability whatsoever which may be imposed on them by reason of any present or future violation or alleged violation of such laws, ordinances, statues, or regulations. G. In the event it is alleged that the property or equipment therein or any act of failure to act by the Owner with respect to the property of the sale, rental or other disposition thereof fails to comply with, or is in violation of, any of the requirements of any constitutional provision, statute, ordinance, law or regulation of any governmental body of any order or ruling of any public authority or official thereof having or claiming to have jurisdiction there over, or any court, and the Manager shall have the right to cancel this agreement at any time by serving written notice to the Owner of its election to do so, which cancellation shall be effective upon the service of such notice. Such notices may be served personally by registered mail to the Owner named in this agreement, and if served by mail shall be deemed to have been served. Such cancellation shall not release the indemnities of the parties set forth herein and shall not terminate any liability or obligation of the Owner to the Manager for any payment, reimbursement or other sum of money then due and payable to the Manager here under. H. Manager shall have no liability for failure to make a payment on a loan, taxes, insurance or assessments.

Duties of Owner. Owner accepts and agrees to perform, perform the following duties: A. Reimburse Manager for all payroll expenses including taxes and insurance. B. Remit any excess of disbursements and charges over receipts to Manager within ten days of oral or written notice advising Owner of the amount of the deficiency. B. C. Take notice of the condition of the Property and, subject to the availability of funds, establish goals to upgrade and maintain the PropertyProperty in a manner consistent with the management plan. C. D. Assume the obligation of any contract entered into legally and for the benefit of the Owner pursuant to this agreement at the termination of this agreement. For example, if Manager has entered into an agreement for repairs of the property, Owner shall be responsible for the payment of the agreement even if this agreement has been terminated by either party. D. . E. To pay all expenses incurred by the Manager, including without limitation, attorneys’ fees for counsel employed to represent the Manager, the Owner Owner, or both of them in any proceeding, controversy controversy, or suit involving the property, the ownership ownership, or operation thereof. Nothing herein contacting contained shall require the Manager to employ counsel to represent the Owner in any such proceeding or suit. In this regard, Owner agrees to indemnify, defend and save the Manager harmless from all claims, investigations and suits with respect to any alleged or actual violations of Statestate, Federalfederal, City city or County county labor laws, it being expressly agreed and understood that as between the Owner and the Manager, all persons employed in connection with the Property are employees of the Manager. The Owner’s obligations under this paragraph shall include payment of all settlements, judgments, demands, liquidated damages, penalties, forfeitures, back pay awards, court costs, litigation expenses and attorneys’ fees. However, protection is not afforded by applicable insurance coverage where the claim is based upon the willful negligence of the Manager or its employees F. To indemnify, defend and save Manager harmless from all suits in conjunction with the property and from liability for damage to property and injuries to or death of an employee or other person whomsoever. Owner . Owner further agrees that Manager shall not be liable to Owner for any damages caused by tenants or others to either interior or exterior of the property. In addition, Owner agrees that cash, checks, and any other medium of exchange used for paying rents, security deposits, etc., are the property of the Owner and the Manager shall not be liable except in the case of gross negligence. G. Owner agrees that Manager does not assume and is given no responsibility for compliance of the property or any equipment therein with the requirements of any statute, ordinance, law, or regulation of any governmental body or of any public authority or official thereof having jurisdiction, except to notify Owner promptly or forward to Owner promptly any complaints, warnings, notices or summonses received by Manager relating to such matters. Owner represents that to the best of his/her knowledge the property and equipment comply with all such requirements and authorizes Manager to disclose the ownership of the property to any such official and agrees to indemnify and save harmless the Manager, its representatives, servants and employees, of and from all loss, cost, expense and liability whatsoever which may be imposed on them by reason of any present or future violation or alleged violation of such laws, ordinances, statutes or regulations. H. In the event it is alleged that the property or equipment therein or any act or failure to act by the Owner with respect to the property or the sale, rental or other disposition thereof fails to comply with, or is in violation of, any of the requirements of any constitutional provision, statute, ordinance, law or regulation of any governmental body or any order or ruling of any public authority or official thereof having or claiming to have jurisdiction there over, or any court, and the Manager shall have the right to cancel this agreement at any time by serving written notice to the Owner of its election to do so, which cancellation shall be effective upon the service of such notice. Such notices may be served personally or by registered mail, on or to the Owner named in this agreement, and if served by mail shall be deemed to have been served when deposited in the mails. Such cancellation shall not release the indemnities of the parties set forth herein and shall not terminate any liability or obligation of the Owner to the Manager for any payment, reimbursement or other sum of money then due and payable to the Manager here under.