Common use of Gross Mismanagement Clause in Contracts

Gross Mismanagement. In the event of “Gross Mismanagement” (as that term is defined below) of the Affordable Units or any part of the Project, Housing Authority shall have and retain the authority to direct and require any condition(s), acts, or inactions of 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 (30) days from the date of Notice from Housing Authority. If Developer or Property Manager has commenced to cure such Gross Mismanagement condition(s) on or before the 20th day from the date of Notice (with evidence of such submitted to Housing Authority), but has failed to complete such cure by the 30th day, then Developer or Property Manager shall have an additional 10 days to complete the cure of such Gross Mismanagement condition(s), or such longer period as is reasonably necessary to complete the cure. In no event shall any condition of Gross Mismanagement continue uncured for a period exceeding 45 days from date of the initial Notice of such condition(s). If such condition(s) do persist beyond such period, Housing Authority shall have the sole and absolute right to immediately and without further notice to Developer (or to Property Manager or any other person/entity) replace the Property Manager with a new property manager of Housing Authority’s selection at the sole cost and expense of Developer. If Developer takes steps to select a new Property Manager that selection is subject to the requirements set forth above for selection of a Property Manager.

Gross Mismanagement. In During the Affordability Period, and in the event of “Gross Mismanagement” (as that term is defined below) of the Affordable Units or any part of the Project, Housing Executive Director and/or Authority shall have and retain the authority to direct and require any condition(s), acts, or inactions of 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 (30) days from the date of Notice written notice from Housing AuthorityExecutive Director. If Developer or Property Manager has commenced to cure such Gross Mismanagement condition(s) on or before the 20th day from the date of Notice written notice (with evidence of such submitted to Housing Authoritythe Executive Director), but has failed to complete such cure by the 30th dayday (or such longer period if the cure cannot reasonably be accomplished in thirty (30) days as reasonabl determined by the non-defaulting party), then Developer or and its Property Manager shall have an additional 10 days to complete the cure of such Gross Mismanagement condition(s), or such longer period as is reasonably necessary to complete the cure. In no event even shall any condition of Gross Mismanagement continue uncured for a period exceeding 45 forty-five (45) days from the date of the initial Notice written notice of such condition(s), except that the condition described in subdivision (d) below may exist for up to, but no longer than, seventy-five (75) days without triggering Authority’s right to remove the Property Manager as described in the immediately following sentence as long as Developer is diligently working to cure such conditions of Gross Mismanagement. If such condition(s) do persist beyond such period, Housing Authority Executive Director shall have the sole and absolute right to immediately and without further notice to Developer (or to Property Manager or any other person/entity) replace to remove the Property Manager and Developer shall contract with a new property manager of Housing replacement Property Manager reasonably acceptable to Authority (in accordance with Section 411.1) within thirty (30) days following Authority’s selection at removal of the sole cost and expense of Developerdefaulting Property Manager. If Developer takes steps to select a new Property Manager that selection Property Manager. For purposes of is subject to the requirements set forth above for selection of a Property Manager.a

Gross Mismanagement. In During the Affordability Period (for Phase A of the Project), and in the event of “Gross Mismanagement” ―Gross Mismanagement‖ (as that term is defined below) of the Affordable Units or any part Phase A of the ProjectApartment Complex, Housing Authority Executive Director and/or Landlord shall have and retain the authority to direct and require any condition(s), acts, or inactions of 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 (30) days from the date of Notice written notice from Housing AuthorityExecutive Director. If Developer Tenant or Property Manager has commenced to cure such Gross Mismanagement condition(s) on or before the 20th day from the date of Notice written notice (with evidence of such submitted to Housing Authoritythe Executive Director), but has failed to complete such cure by the 30th dayday (or such longer period if the cure cannot reasonably be accomplished in thirty (30) days as reasonably determined by the non-defaulting party), then Developer or Tenant and its Property Manager shall have an additional 10 days to complete the cure of such Gross Mismanagement condition(s), or such longer period as is reasonably necessary to complete the cure. In no event shall any condition of Gross Mismanagement continue uncured for a period exceeding 45 forty-five (45) days from the date of the initial Notice written notice of such condition(s), except that the conditions described in subdivision (d) below may exist for up to, but no longer than, seventy-five (75) days without triggering Landlord’s right to remove the Property Manager as described in the immediately following sentence as long as Tenant is diligently working to cure such conditions of Gross Mismanagement. If such condition(s) do persist beyond such period, Housing Authority Executive Director shall have the sole and absolute right to immediately and without further notice to Developer Tenant (or to Property Manager or any other person/entity) replace to remove the Property Manager with a new property manager of Housing Authority’s selection at the sole cost and expense of DeveloperManager. If Developer Tenant takes steps to select a new Property Manager that selection is subject to the requirements set forth above for selection of a Property Manager.. For purposes of this Ground Lease, the term ―Gross Mismanagement‖ shall mean management of Phase A of the Apartment Complex in a manner which violates the terms and/or intention of this Ground Lease to operate a high quality affordable housing complex, and shall include, but is not limited to, any one or more of the following:

Gross Mismanagement. In During the Affordability Period, and in the event of “Gross Mismanagement” (as that term is defined below) of the Affordable Units Apartment Complex or any part of the Project, Housing Executive Director and/or Authority shall have and retain the authority to direct and require any condition(s), acts, or inactions of 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 (30) days from the date of Notice written notice from Housing AuthorityExecutive Director. If Developer or Property Manager has commenced to cure such Gross Mismanagement condition(s) on or before the 20th day from the date of Notice written notice (with evidence of such submitted to Housing Authoritythe Executive Director), but has failed to complete such cure by the 30th dayday (or such longer period if the cure cannot reasonably be accomplished in thirty (30) days as reasonably determined by the non-defaulting party), then Developer or Property Manager shall have an additional 10 days to complete the cure of such Gross Mismanagement condition(s), or such longer period as is reasonably necessary to complete the cure. In no event shall any condition of Gross Mismanagement continue uncured for a period exceeding 45 forty-five (45) days from date of the initial Notice written notice of such condition(s), except that the conditions described in subdivisions (d) and (e) below may exist for up to, but no longer than, seventy-five (75) days without triggering the Authority’s right to replace the Property Manager as described in the immediately following sentence as long as Developer is diligently working to cure such conditions of Gross Mismanagement. If such condition(s) do persist beyond such period, Housing Authority Executive Director shall have the sole and absolute right to immediately and without further notice to Developer (or to Property Manager or any other person/entity) to replace the Property Manager with a new property manager of Housing Authoritythe Executive Director’s selection at the sole cost and expense of Developer. If Developer takes steps to select a new Property Manager that selection is subject to the requirements set forth above for selection of a Property Manager.Manager.‌

Gross Mismanagement. In During the Affordability Period (for Phase B of the Project), and in the event of “Gross Mismanagement” ―Gross Mismanagement‖ (as that term is defined below) of the Affordable Units or any part Phase B of the ProjectApartment Complex, Housing Authority Executive Director and/or Landlord shall have and retain the authority to direct and require any condition(s), acts, or inactions of 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 (30) days from the date of Notice written notice from Housing AuthorityExecutive Director. If Developer Tenant or Property Manager has commenced to cure such Gross Mismanagement condition(s) on or before the 20th day from the date of Notice written notice (with evidence of such submitted to Housing Authoritythe Executive Director), but has failed to complete such cure by the 30th dayday (or such longer period if the cure cannot reasonably be accomplished in thirty (30) days as reasonably determined by the non-defaulting party), then Developer or Tenant and its Property Manager shall have an additional 10 days to complete the cure of such Gross Mismanagement condition(s), or such longer period as is reasonably necessary to complete the cure. In no event shall any condition of Gross Mismanagement continue uncured for a period exceeding 45 forty-five (45) days from the date of the initial Notice written notice of such condition(s), except that the conditions described in subdivision (d) below may exist for up to, but no longer than, seventy-five (75) days without triggering Landlord’s right to remove the Property Manager as described in the immediately following sentence as long as Tenant is diligently working to cure such conditions of Gross Mismanagement. If such condition(s) do persist beyond such period, Housing Authority Executive Director shall have the sole and absolute right to immediately and without further notice to Developer Tenant (or to Property Manager or any other person/entity) replace to remove the Property Manager with a new property manager of Housing Authority’s selection at the sole cost and expense of DeveloperManager. If Developer Tenant takes steps to select a new Property Manager that selection is subject to the requirements set forth above for selection of a Property Manager.. For purposes of this Ground Lease, the term ―Gross Mismanagement‖ shall mean management of Phase B of the Apartment Complex in a manner which violates the terms and/or intention of this Ground Lease to operate a high quality affordable housing complex, and shall include, but is not limited to, any one or more of the following:

Gross Mismanagement. In During the Affordability Period, and in the event of “Gross Mismanagement” (as that term is defined below) of the Affordable Units or any part of the ProjectPhase II, Housing Executive Director and/or Authority shall have and retain the authority to direct and require any condition(s), acts, or inactions of 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 (30) days from the date of Notice written notice from Housing AuthorityExecutive Director. If Developer or Property Manager has commenced to cure such Gross Mismanagement condition(s) on or before the 20th day from the date of Notice written notice (with evidence of such submitted to Housing Authoritythe Executive Director), but has failed to complete such cure by the 30th dayday (or such longer period if the cure cannot reasonably be accomplished in thirty (30) days as reasonably determined by the non-defaulting party), then Developer or and its Property Manager shall have an additional 10 days to complete the cure of such Gross Mismanagement condition(s), or such longer period as is reasonably necessary to complete the cure. In no event shall any condition of Gross Mismanagement continue uncured for a period exceeding 45 forty-five (45) days from the date of the initial Notice written notice of such condition(s), except that the condition described in subdivision (d) below may exist for up to, but no longer than, seventy-five (75) days without triggering Authority’s right to remove the Property Manager as described in the immediately following sentence as long as Developer is diligently working to cure such conditions of Gross Mismanagement. If such condition(s) do persist beyond such period, Housing Authority Executive Director shall have the sole and absolute right to immediately and without further notice to Developer (or to Property Manager or any other person/entity) replace to remove the Property Manager and Developer shall contract with a new property manager of Housing replacement Property Manager reasonably acceptable to Authority (in accordance with Section 4.11.1) within thirty (30) days following Authority’s selection at removal of the sole cost and expense of Developerdefaulting Property Manager. If Developer takes steps to select a new Property Manager that selection is subject to the requirements set forth above for selection of a Property Manager.