EXHIBIT 10.1
CONTRACT FOR MANAGING AGENTS EXTENSION AGREEMENT
Agreement made as of the first day of July 1995 by and between Xxxxxxxxxxxxx
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Village Inc. Owner, and Cherry Green Property Corp. as Managing Agent for the
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premises known as: Xxxxxxxxxxxxx Village 00-00 Xxxxxx Xx. Xxx Xxxx XX 00000
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HCLD #9 (Address and Location)
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Project #
Whereas, the parties have heretofore entered into a Contract for Managing
Agents as of July 1, 1983. Subsequent extensions have been entered into with the
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last extension effective for the period July 1, 1994 to June 30, 1995; and
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Whereas, the parties wish to further extend the Contract for Managing Agents;
therefore it is agreed as follows:
1. The Contract for Managing Agent is extended from July 1, 1995 to
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June 30, 1996.
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2. Article 5.1(a) of the Owner-Agent Agreement is amended as follows:
Managing Agent Fee - $66,774.00 per month.
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This amount represents the sum of:
1. $59,989.00 per month as the Project's Base Rate; plus
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2. $ 6,785.00 per month as the Project's Administrative Expense Fee.
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3. The Management Plan [X] has [_] has not been amended. If amended,
the pages on which changes have been made are attached.
4. Article 5.1(e) of the Owner-Agent Agreement is amended as follows:
Site Manager Reimbursement - $55,513.80 per year payable in monthly
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installments as indicated in par. 5 (Submit breakdown and supporting
computations as to determination of Site Manager Reimbursement. Attach
amended Management Plan page.)
5. Other: Site Manager reimbursement to be taken as follows:
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July, 1995 -- Oct., 1995 -- $4,799.87 per month
Nov., 1995 -- June, 1996 -- $4,539.29 per month
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(Use attachments if necessary)
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This agreement is subject to approval by the New York State Division of Housing
and Community Renewal (DHCR).
Owner Agent
Xxxxxxxxxxxxx Village, Inc. Cherry Green Property Corp.
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/s/ Xxxxxx Xxxxxxx /s/ Xxxxxx Xxxxxxx
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Signature Signature
R x x x x x G e r s h o n R x x x x x G e r s h o n
Treasurer Vice-President
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Name/Title (Please Type) Name/Title (Please Type)
12/7/95 12/7/95
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Date: Date:
Approved:
March 8, 1996
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Date:
New York State Division of Housing and Community Renewal
/s/ Xxxx Xxxxxx
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/s/ Xxxx Xxxxxx, Assistant Director of Management
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Name/Title (Please Type)
