Maintenance and Repair of Property. Manager shall, as an expense of the applicable Property and consistent with approved budgetary guidelines, maintain the buildings, appurtenances and common areas of each Property in good condition according to local standards for comparable properties in the immediate market area surrounding the Property, and, in any event, in accordance with the standards and conditions reasonably specified by Owner from time to time. Maintenance and repair items shall include but shall not be limited to, interior and exterior janitorial services, exterior grounds and landscaping services, repairs and alterations to existing improvements, plumbing, parking areas, electrical systems, painting, carpentry, maintenance and repair of mechanical systems and such other maintenance and repair work as is reasonably necessary. Manager agrees to review periodically with Owner all expenses and any reserves therefor, and other services rendered in connection with each Property. Notwithstanding anything in this Agreement to the contrary, emergency repairs and/or other expenditures deemed immediately necessary by Manager for the preservation and safety of a Property or tenants or other persons, or to avoid the suspension of any service to a Property may be made by Manager without the approval of Owner if, under the circumstances, Owner cannot be notified in a reasonable manner before the required emergency repairs and/or expenditures must be made.
Appears in 3 contracts
Samples: Property Management Agreement (Grubb & Ellis Realty Advisors, Inc.), Property Management Agreement (Grubb & Ellis Realty Advisors, Inc.), Property Management Agreement (Grubb & Ellis Realty Advisors, Inc.)
Maintenance and Repair of Property. Manager shall, as an expense of the applicable Property and consistent with approved budgetary guidelines, maintain the buildings, appurtenances appurtenances, and common areas of each the Property in good condition according to local standards for comparable properties in the immediate market area surrounding the Property, and, in any event, in accordance with the standards and conditions reasonably specified by Owner from time to time. Maintenance and repair items shall include include, but shall not be limited to, interior and exterior janitorial services, exterior grounds and landscaping services, repairs and alterations to existing improvements, plumbing, parking areas, electrical systems, painting, carpentry, maintenance and repair of mechanical systems and such other maintenance and repair work as is reasonably necessary. Manager agrees to shall periodically review periodically with Owner all expenses and any reserves therefor, and other services rendered in connection with each the Property. Notwithstanding anything in this Agreement to the contrary, emergency repairs and/or other expenditures deemed immediately necessary by Manager for the preservation and safety of a the Property or tenants or other persons, or to avoid the suspension of any service to a the Property may be made by Manager without the approval of Owner if, under the circumstances, Owner cannot be notified in a reasonable manner before the required emergency repairs and/or expenditures must be made.
Appears in 1 contract
Samples: Property Management Agreement