Gross Mismanagement. In the event of “Gross Mismanagement” (as that term is defined below) of the Apartment Complex or any part of the Project, Executive Director shall have and retain the authority to direct and require any condition(s), acts, or inactions constituting Gross Mismanagement to cease and/or be corrected immediately, and further to direct and require the immediate removal of the Property Manager and replacement with a new qualified and approved Property Manager, if such condition(s) is/are not ceased and/or corrected after expiration of thirty
Appears in 6 contracts
Samples: Regulatory Agreement, Regulatory Agreement, Regulatory Agreement
