Service and Supply Contracts. (a)Manager shall directly select, supervise and engage all independent contractors, suppliers and vendors, in the operation, repair, maintenance and servicing of the Property, including but not limited to those necessary for the supplying of electricity, gas, steam, water, telephone, cleaning, fuel, oil, elevator maintenance, vermin extermination, trash removal, security and other services deemed necessary or advisable by Manager for the operation of the Property. Notwithstanding the foregoing, but subject to the provisions of Section 2.4 above regarding emergency expenditures, any such contract that (i) requires annual payment(s) which total in excess of $5,000, or (ii) has a term of more than one (1) year (as expressly approved by Owner in writing), or (iii) is with an affiliate of Manager or any individual directly related to any employee of Manager, or (iv) would cause any line item of the approved budget, other than for utilities or an expense deferred for one month, to be exceeded shall require the prior written consent of Owner. Together with Manager's request for consent to any such service contract, Manager shall deliver to Owner a copy of the proposed contract, a statement of the relationship, if any, between Manager (or the person or persons in control of Manager) and the party which will supply such goods or services under the proposed contract, supporting analysis, if any, and competitive bid documentation.
Appears in 6 contracts
Samples: Property Management and Leasing Agreement (Balcor Equity Properties Xii), Management and Leasing Agreement (Balcor Realty Investors 85 Series Iii), Management and Leasing Agreement (Balcor Realty Investors 84)
