Exclusive Agency. Owner hereby hires and appoints Manager on the terms and conditions hereinafter provided, as the sole and exclusive management agent of that property of Owner consisting of _______________ units known as __________________________________________, together with the land on which said building(s) is (are) situated on that certain tract of real property in ____________________, as legally described on Exhibit A attached hereto and by this reference incorporated herein (the "Property"). Manager hereby accepts said appointment on the terms and conditions set forth below, and recognizes that a relationship of trust and confidence is created by this Agreement, and agrees to use its reasonable best efforts to diligently and in a first class manner manage the Property so as to effectuate an efficient and economic operation thereof. As a material inducement for Owner to enter into this Agreement, Manager represents and warrants that it currently and throughout the term hereof shall possess the skills and experience to manage projects of comparable quality and nature and that it and all necessary personnel shall, where applicable, be duly licensed to perform the services required herein consistent with the real estate brokerage laws in the state in which the Property is located.
Appears in 6 contracts
Samples: Property Management Agreement (Balcor Realty Investors 84), Property Management Agreement (Balcor Realty Investors 86 Series I), Property Management Agreement (Balcor Equity Properties Xii)
