Common use of Payment by Manager of Expenses Clause in Contracts

Payment by Manager of Expenses. The following operating costs (except as excluded by Section 10.2), to the extent included in approved budgets, are to be paid directly from the Disbursement Account described in Section 9.1: (a) Costs of the gross salary and compensation, to include payroll taxes, insurance, workmen's compensation and other benefits, of the on-site property management team and approved staff; (b) To the extent recoverable from tenants, cost of gross salary and compensation, to include payroll taxes, insurance, workmen's compensation and other benefits, and related overhead of personnel (for example, accountants and bookkeepers) who may be located off-site (for cost saving, administration or other reasons) but who directly support the operations of the Premises, excluding any personnel located in Manager's regional offices or headquarters except as provided in Section 10.1(w); (c) Cost of forms, papers, ledgers, and other supplies and equipment used in the on-site Manager's office; (d) Cost of insurance permitted or required to be maintained by Manager pursuant to the provisions of this Agreement; (e) Cost of all bonuses paid to on-site employees excluding, however, any incentive compensation; (f) Costs to correct any violation of federal, state and municipal laws, ordinances, regulations and orders relative to the leasing, use, repair and maintenance of the Premises, or relative to the rules, regulations or orders of the local board of fire underwriters or other similar body, provided that such cost is not a result of the gross negligence or willful misconduct of Manager or its agents or employees; (g) Actual costs of making all repairs, decorations and alterations to the Premises; (h) Costs incurred by Manager in connection with all service contracts entered into by Manager and/or Owner in accordance with authorizations in this Agreement or approved by Owner; (i) Costs of collection of delinquent rentals; (j) Costs of printed forms and supplies required for use at the Premises; (k) Costs of capital expenditures; (l) Costs of printed checks for each bank account required by Owner; (m) Costs of adding machines, personal computers and computer software, and other equipment of such type used for managing the Premises; (n) Leasing commissions payable to third parties; (o) Costs of Owner approved advertising, business expenses, professional dues, professional development, employee relocation expenses and travel; (p) To the extent the same can be recovered from tenants under their leases, the cost of Manager's implementation of any new accounting or reporting systems including Web based systems or systems that utilize servers and other equipment that may be located off-site of the Property, as well as the cost of any new general ledger adopted by Manager; (q) Legal fees of attorneys, provided such attorneys have been approved by Owner in writing in advance of retention; (r) Costs of outside audits as required by leases and other outside audits as may be requested by Owner in writing; (s) Property taxes, special assessments and costs of utilities; (t) Costs of a management office, including necessary furnishings and equipment, as provided for in Section 10.3 hereof; (u) All other costs and expenses for which Owner is obligated to pay or reimburse Manager as provided for in this Agreement; (v) Any out-of-pocket costs Manager incurs in performing the leasing services described in Section 5.5, including the costs of printing leasing brochures and travel and entertainment costs; and (w) To the extent the same relate to or support the performance of Manager's duties under this Agreement, the cost of personnel and overhead expenses related to such personnel who are located in Manager's headquarters and regional offices. Examples of such support include risk management, regional and central accounting, cash and systems management, human resources and payroll, technology and internal audit. The amount to

Payment by Manager of Expenses. The following operating costs (except as excluded by Section 10.2), to the extent included in approved budgets, are to be paid directly from the Disbursement Account described in Section 9.1: (a) Costs of the gross salary and compensation, to include payroll taxes, insurance, workmen's ’s compensation and other benefits, of the on-site property management team and approved staff; (b) To the extent recoverable from tenants, cost of gross salary and compensation, to include payroll taxes, insurance, workmen's ’s compensation and other benefits, and related overhead of personnel (for example, accountants and bookkeepers) who may be located off-site (for cost saving, administration or other reasons) but who directly support the operations of the Premises, excluding any personnel located in Manager's ’s regional offices or headquarters except as provided in Section 10.1(w); (c) Cost of forms, papers, ledgers, and other supplies and equipment used in the on-site Manager's ’s office; (d) Cost of insurance permitted or required to be maintained by Manager pursuant to the provisions of this Agreement; (e) Cost of all bonuses paid to on-site employees excluding, however, any incentive compensation; (f) Costs to correct any violation of federal, state and municipal laws, ordinances, regulations and orders relative to the leasing, use, repair and maintenance of the Premises, or relative to the rules, regulations or orders of the local board of fire underwriters or other similar body, provided that such cost is not a result of the gross negligence or willful misconduct of Manager or its agents or employees; (g) Actual costs of making all repairs, decorations and alterations to the Premises; (h) Costs incurred by Manager in connection with all service contracts entered into by Manager and/or Owner in accordance with authorizations in this Agreement or approved by Owner; (i) Costs of collection of delinquent rentals; (j) Costs of printed forms and supplies required for use at the Premises; (k) Costs of capital expenditures; (l) Costs of printed checks for each bank account required by Owner; (m) Costs of adding machines, personal computers and computer software, and other equipment of such type used for managing the Premises; (n) Leasing commissions payable to third parties; (o) Costs of Owner approved advertising, business expenses, professional dues, professional development, employee relocation expenses and travel; (p) To the extent the same can be recovered from tenants under their leases, the cost of Manager's ’s implementation of any new accounting or reporting systems including Web based systems or systems that utilize servers and other equipment that may be located off-site of the Property, as well as the cost of any new general ledger adopted by Manager; (q) Legal fees of attorneys, provided such attorneys have been approved by Owner in writing in advance of retention; (r) Costs of outside audits as required by leases and other outside audits as may be requested by Owner in writing; (s) Property taxes, special assessments and costs of utilities; (t) Costs of a management office, including necessary furnishings and equipment, as provided for in Section 10.3 hereof; (u) All other costs and expenses for which Owner is obligated to pay or reimburse Manager as provided for in this Agreement; (v) Any out-of-pocket costs Manager incurs in performing the leasing services described in Section 5.5, including the costs of printing leasing brochures and travel and entertainment costs; and (w) To the extent the same relate to or support the performance of Manager's ’s duties under this Agreement, the cost of personnel and overhead expenses related to such personnel who are located in Manager's ’s headquarters and regional offices. Examples of such support include risk management, regional and central accounting, cash and systems management, human resources and payroll, technology and internal audit. The amount toto be included under this Section 10.1(w) shall (1) be included only to the extent the same is recovered from tenants under their leases and (2) not exceed in any calendar year $.210 per rentable square foot within the Property; however, such amount shall be increased on January 1 of each year by the increase in the Consumer Price Index from the preceding January 1 beginning in 2006, such adjusted amount to be rounded to the nearest $.005. “Consumer Price Index” or “CPI” means the United States Department of Labor, Bureau of Labor Statistics, Consumer Price Index for all Urban Consumers (U.S. city average; base 1982-84 = 100), published by the Bureau of Labor statistics of the United States

Payment by Manager of Expenses. The following operating costs (except as excluded by Section 10.2), to the extent included in approved budgets, are to be paid directly from the Disbursement Account described in Section 9.1: (a) Costs of the gross salary and compensation, to include payroll taxes, insurance, workmen's ’s compensation and other benefits, of the on-site property management team and approved staff; (b) To the extent recoverable from tenants, cost of gross salary and compensation, to include payroll taxes, insurance, workmen's ’s compensation and other benefits, and related overhead of personnel (for example, accountants and bookkeepers) who may be located off-site (for cost saving, administration or other reasons) but who directly support the operations of the Premises, excluding any personnel located in Manager's ’s regional offices or headquarters except as provided in Section 10.1(w); (c) Cost of forms, papers, ledgers, and other supplies and equipment used in the on-site Manager's ’s office; (d) Cost of insurance permitted or required to be maintained by Manager pursuant to the provisions of this Agreement; (e) Cost of all bonuses paid to on-site employees excluding, however, any incentive compensation; (f) Costs to correct any violation of federal, state and municipal laws, ordinances, regulations and orders relative to the leasing, use, repair and maintenance of the Premises, or relative to the rules, regulations or orders of the local board of fire underwriters or other similar body, provided that such cost is not a result of the gross negligence or willful misconduct of Manager or its agents or employees; (g) Actual costs of making all repairs, decorations and alterations to the Premises; (h) Costs incurred by Manager in connection with all service contracts entered into by Manager and/or Owner in accordance with authorizations in this Agreement or approved by Owner; (i) Costs of collection of delinquent rentals; (j) Costs of printed forms and supplies required for use at the Premises; (k) Costs of capital expenditures; (l) Costs of printed checks and third-party bank fees for each bank account required by Owner; (m) Costs of adding machines, personal computers and computer software, and other equipment of such type used for managing the Premises; (n) Leasing Subject to Section 10.2(c), leasing commissions payable to third parties; (o) Costs of Owner approved advertising, business expenses, professional dues, professional development, employee relocation expenses and travel; (p) To the extent the same can be recovered from tenants under their leases, the cost of Manager's ’s implementation of any new accounting or reporting systems (and upgrades to maintain such systems), including Web based systems or systems that utilize servers and other equipment that may be located off-site of the Property, as well as the cost of any new general ledger adopted by Manager; (q) Legal fees of attorneys, provided such attorneys have been approved by Owner in writing in advance of retention; (r) Costs of outside audits as required by leases and other outside audits as may be requested by Owner in writing; (s) Property taxes, special assessments and costs of utilities; (t) Costs of a management office, including necessary furnishings and equipment, as provided for in Section 10.3 hereof; (u) All other costs and expenses for which Owner is obligated to pay or reimburse Manager as provided for in this Agreement; (v) Any Subject to Section 10.2(c), any out-of-pocket costs Manager incurs in performing the leasing services described in Section 5.5, including the costs of printing leasing brochures and travel and entertainment costs; and (w) To the extent the same relate to or support the performance of Manager's ’s duties under this Agreement, the cost of personnel and overhead expenses related to such personnel who are located in Manager's ’s headquarters and regional offices. Examples of such support include risk management, regional and central accounting, cash and systems management, human resources and payroll, technology and internal audit. The amount toto be included under this Section 10.1(w) shall (1) be included only to the extent the same is recovered from tenants under their leases and (2) not exceed in any calendar year $.205 per rentable square foot within the Property; however, such amount shall be increased on January 1 of each year by the increase in the Consumer Price Index from the preceding January 1 beginning in 2004, such adjusted amount to be rounded to the nearest $.005. “Consumer Price Index” or “CPI” means the United States Department of Labor, Bureau of Labor Statistics, Consumer Price Index for all Urban Consumers (U.S. city average; base 1982-84 = 100), published by the Bureau of Labor statistics of the United States Department of Labor. If at any time during the Term the CPI is discontinued or published less frequently, Manager and Owner shall mutually and reasonably agree to substitute an official index published by the Bureau of Labor Statistics, or a successor governmental agency, which index is most nearly equivalent to the CPI or to a substitute procedure which reasonably reflects and monitors consumer prices.

Payment by Manager of Expenses. The following operating costs (except as excluded by Section 10.2), to the extent included in approved budgets, are to be paid directly from the Disbursement Account described in Section 9.1: (a) Costs of the gross salary and compensation, to include payroll taxes, insurance, workmen's ’s compensation and other benefits, of the on-site property management team and approved staff; (b) To the extent recoverable from tenants, cost of gross salary and compensation, to include payroll taxes, insurance, workmen's ’s compensation and other benefits, and related overhead of personnel (for example, accountants and bookkeepers) who may be located off-site (for cost saving, administration or other reasons) but who directly support the operations of the Premises, excluding any personnel located in Manager's ’s regional offices or headquarters except as provided in Section 10.1(w); (c) Cost of forms, papers, ledgers, and other supplies and equipment used in the on-site Manager's ’s office; (d) Cost of insurance permitted or required to be maintained by Manager pursuant to the provisions of this Agreement; (e) Cost of all bonuses paid to on-site employees excluding, however, any incentive compensation; (f) Costs to correct any violation of federal, state and municipal laws, ordinances, regulations and orders relative to the leasing, use, repair and maintenance of the Premises, or relative to the rules, regulations or orders of the local board of fire underwriters or other similar body, provided that such cost is not a result of the gross negligence or willful misconduct of Manager or its agents or employees; (g) Actual costs of making all repairs, decorations and alterations to the Premises; (h) Costs incurred by Manager in connection with all service contracts entered into by Manager and/or Owner in accordance with authorizations in this Agreement or approved by Owner; (i) Costs of collection of delinquent rentals; (j) Costs of printed forms and supplies required for use at the Premises; (k) Costs of capital expenditures; (l) Costs of printed checks for each bank account required by Owner; (m) Costs of adding machines, personal computers and computer software, and other equipment of such type used for managing the Premises; (n) Leasing commissions payable to third parties; (o) Costs of Owner approved advertising, business expenses, professional dues, professional development, employee relocation expenses and travel; (p) To the extent the same can be recovered from tenants under their leases, the cost of Manager's ’s implementation of any new accounting or reporting systems including Web based systems or systems that utilize servers and other equipment that may be located off-site of the Property, as well as the cost of any new general ledger adopted by Manager; (q) Legal fees of attorneys, provided such attorneys have been approved by Owner in writing in advance of retention; (r) Costs of outside audits as required by leases and other outside audits as may be requested by Owner in writing; (s) Property taxes, special assessments and costs of utilities; (t) Costs of a management office, including necessary furnishings and equipment, as provided for in Section 10.3 hereof; (u) All other costs and expenses for which Owner is obligated to pay or reimburse Manager as provided for in this Agreement; (v) Any out-of-pocket costs Manager incurs in performing the leasing services described in Section 5.5, including the costs of printing leasing brochures and travel and entertainment costs; and (w) To the extent the same relate to or support the performance of Manager's ’s duties under this Agreement, the cost of personnel and overhead expenses related to such personnel who are located in Manager's ’s headquarters and regional offices. Examples of such support include risk management, regional and central accounting, cash and systems management, human resources and payroll, technology and internal audit. The amount toto be included under this Section 10.1(w) shall (1) be included only to the extent the same is recovered from tenants under their leases and (2) not exceed in any calendar year $.205 per rentable square foot within the Property; however, such amount shall be increased on January 1 of each year by the increase in the Consumer Price Index from the preceding January 1 beginning in 2005, such adjusted amount to be rounded to the nearest $.005. “Consumer Price Index” or “CPI” means the United States Department of Labor, Bureau of Labor Statistics, Consumer Price Index for all Urban Consumers (U.S. city average; base 1982-84 = 100), published by the Bureau of Labor statistics of the United States Department of Labor. If at any time during the Term the CPI is discontinued or published less frequently, Manager and Owner shall mutually and reasonably agree to substitute an official index published by the Bureau of Labor Statistics, or a successor governmental agency, which index is most nearly equivalent to the CPI or to a substitute procedure which reasonably reflects and monitors consumer prices.