EXHIBIT 10.1
Whereas, the parties have originally entered into a Contract for Managing Agents
as of July 1, 1983, with subsequent extension to June 30, 19999, and wish to
extend the Contract further, it is agreed that:
1. The Contract is extended for twelve (12) months, from July 1, 1999 to June
30, 2000.
2. Article 5.1(a) of the Owner-Agent Agreement is amended as follows:
Managing Agent Fee $75,174.00 per month. This amount represents the
sum of:
$67,833.00 the Project's Base Rate: plus
$ 7,341.00 the Project's Administrative Expense Fee.
3. Article 5.1(e) of the Owner-Agent Agreement is amended as follow:
Site Manager Reimbursement for the year ending June 30, 2000 is $60,411.36
per year payable in equal monthly installments, in accordance with the
attached schedule of salary and fringe benefits.
4. The Management Plan |_| has |X| has not been amended. If amended, the
pages on which changes have been made are attached.
5. Other (Use attachments if necessary)._____________________________________
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We hereby certify that the information listed below is true and correct.
a. There is a Fidelity Bond for at least 25% of the annual rent roll
insuring both the Owner and the Managing Agent.
b. There is a current Real Estate Broker's License in the name of the
Managing Agent.
c. The Site Manager was hired on 1/87 and |X| is currently certified by
National Assn. of Home Builders or |_| is not certified.
Owner: Xxxxxxxxxxxxx Village, Inc. Agent: Cherry Green Property Corp.
/S/ Xxxxxx Xxxxxxx /S/ Xxxxxx Xxxxxxx
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Signature Date Signature Date
Xxxxxx Xxxxxxx, Treasurer Xxxxxx Xxxxxxx, Vice President
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Name/Title (Please Type) Name/Title (Please Type)
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TO BE COMPLETED BY HOUSING COMPANY FOR DHCR USE ONLY
|X| accepted |_| amended
Development Xxxxxxxxxxxxx Village, Inc. By: /S/ Xxxxx Xxxxxxxx
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DHCR Number HCLD #9 Date September 22, 1999
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