Common use of Expenses/Costs Clause in Contracts

Expenses/Costs. (a) Manager shall be responsible for all costs and expenses of Manager not directly associated with its performance of the Services and its duties and obligations hereunder, including, but not limited to, the costs and expenses listed on Schedule 2 or any other costs or expenses specifically allocable to Manager hereunder. Owner hereby acknowledges and agrees that subject to the foregoing sentence, to the extent that the following costs and expenses are incurred, such costs and expenses shall be the responsibility of Owner, and not of Manager, hereunder, in each case to the extent included in the Approved Annual Business Plan and Budget (subject to Permitted Variances), or that are otherwise consented to by Owner in writing: (i) Operating expenses of each Property, as outlined in the Approved Annual Business Plan and Budget (subject to Permitted Variances) and incurred through renting, servicing, maintaining or repairing each Property, including, but not limited to, labor costs associated with repairs, gas, water, electricity, sewer and other utilities not separately metered or directly addressed to the Tenants of each Property, and such other expenses in connection with the Properties as may be authorized by Owner, and all such operating expenses shall be reimbursed to Manager if advanced and shall be separate and apart from payment of the Fees; (ii) Real estate taxes, assessments, personal property taxes or charges and any other taxes or assessment levied against any Property; (iii) Costs to correct any violation of federal, state, county and municipal laws, ordinances, regulations, and orders relative to the leasing, use condition, operation, repair and maintenance of the Properties, or relative to the rules, regulations or orders of the local board of fire underwriters or other similar body, or the requirements of any insurance policy covering any Property, so long as such violations were not caused by the gross negligence, fraud, willful misconduct or criminal act of Manager or any of its employees or agents; (iv) Costs of collection of delinquent rentals; (v) Costs and expenses relating to Manager’s shared service center, accounts payable and procurement, revenue management and any substitute on-site personnel assigned to or required at any Property (typically referred to by Manager as “fire fighters”); (vi) Costs and expenses relating to advertising and marketing the Properties in accordance with the terms of this Agreement; (vii) Costs of supplies required for use at any Property for the benefit of such Property, but not including costs of supplies at Manager’s general corporate office, which shall be considered overhead of Manager; (viii) Costs of rent and other charges relating to Manager’s regional offices; (ix) Costs of capital expenditures; (x) Bank service charges pertaining to accounts for the Properties; (xi) Leasing commissions for outside brokers with respect to any residential or retail Leases to the extent the use of an outside broker, and the fee to be paid to such outside broker, is pursuant to the terms of this Agreement; (xii) Reasonable legal fees of attorneys for services rendered for any Property in accordance with the terms of this Agreement; (xiii) Costs of Owner-approved consulting fees (including but not limited to tax, elevator, environmental and engineering consultants); (xiv) Postage, overnight delivery, messenger and similar charges with respect to correspondence related to the Properties; (xv) Costs and expenses related to Manager’s preparation and filing of any petitions with the local rent board or other government agency which regulates rents and evictions for certain residential rental units where each Property is located (“Rent Board”) related to such Property, including, but not limited to, preparing and filing any petitions to passthrough certain costs and expenses to Tenants; (xvi) Costs and expenses related to Manager’s attendance at and/or representation of Owner at Rent Board hearings; and (xvii) Costs, expenses, fees and reimbursements which are expressly reimbursable or payable by Owner pursuant to this Agreement. (b) The foregoing enumeration of expenses relating to each Property is not intended to be exclusive, and subject to the terms of this Agreement, Manager shall be entitled to make disbursements from the Central Account for other expenses incurred or paid by Manager to the extent those expenses are related to any Property and are set forth in the Approved Annual Business Plan and Budget (subject to Permitted Variances).

Expenses/Costs. (a) Manager shall be responsible for all costs and expenses of Manager not directly associated with its performance of the Services and its duties and obligations hereunder, including, but not limited to, the costs and expenses listed on Schedule 2 or any other costs or expenses specifically allocable to Manager hereunder. Owner hereby acknowledges and agrees that subject to the foregoing sentence, to the extent that the following costs and expenses are incurred, such costs and expenses shall be the responsibility of Owner, and not of Manager, hereunder, in each case to the extent included in the Approved Annual Business Plan and Budget (subject to Permitted Variances), or that are otherwise consented to by Owner in writing: (i) Operating expenses of each Property, as outlined in the Approved Annual Business Plan and Budget (subject to Permitted Variances) and incurred through renting, servicing, maintaining or repairing each Property, including, but not limited to, labor costs associated with repairs, gas, water, electricity, sewer and other utilities not separately metered or directly addressed to the Tenants of each Property, and such other expenses in connection with the Properties as may be authorized by Owner, and all such operating expenses shall be reimbursed to Manager if advanced and shall be separate and apart from payment of the Fees; (ii) Real estate taxes, assessments, personal property taxes or charges and any other taxes or assessment levied against any Property; (iii) Costs to correct any violation of federal, state, county and municipal laws, ordinances, regulations, and orders relative to the leasing, use condition, operation, repair and maintenance of the Properties, or relative to the rules, regulations or orders of the local board of fire underwriters or other similar body, or the requirements of any insurance policy covering any Property, so long as such violations were not caused by the gross negligence, fraud, willful misconduct or criminal act of Manager or any of its employees or agents; (iv) Costs of collection of delinquent rentals; (v) Costs and expenses relating to Manager’s shared service center, accounts payable and procurement, revenue management and any substitute on-site personnel assigned to or required at any Property (typically referred to by Manager as “fire fighters”); (vi) Costs and expenses relating to advertising and marketing the Properties in accordance with the terms of this Agreement;; Table of Contents (vii) Costs of supplies required for use at any Property for the benefit of such Property, but not including costs of supplies at Manager’s general corporate office, which shall be considered overhead of Manager; (viii) Costs of rent and other charges relating to Manager’s regional offices; (ix) Costs of capital expenditures; (x) Bank service charges pertaining to accounts for the Properties; (xi) Leasing commissions for outside brokers with respect to any residential or retail Leases to the extent the use of an outside broker, and the fee to be paid to such outside broker, is pursuant to the terms of this Agreement; (xii) Reasonable legal fees of attorneys for services rendered for any Property in accordance with the terms of this Agreement; (xiii) Costs of Owner-approved consulting fees (including but not limited to tax, elevator, environmental and engineering consultants); (xiv) Postage, overnight delivery, messenger and similar charges with respect to correspondence related to the Properties; (xv) Costs and expenses related to Manager’s preparation and filing of any petitions with the local rent board or other government agency which regulates rents and evictions for certain residential rental units where each Property is located (“Rent Board”) related to such Property, including, but not limited to, preparing and filing any petitions to passthrough certain costs and expenses to Tenants; (xvi) Costs and expenses related to Manager’s attendance at and/or representation of Owner at Rent Board hearings; and (xvii) Costs, expenses, fees and reimbursements which are expressly reimbursable or payable by Owner pursuant to this Agreement. (b) The foregoing enumeration of expenses relating to each Property is not intended to be exclusive, and subject to the terms of this Agreement, Manager shall be entitled to make disbursements from the Central Account for other expenses incurred or paid by Manager to the extent those expenses are related to any Property and are set forth in the Approved Annual Business Plan and Budget (subject to Permitted Variances).