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<br /> c)czopERTy MANAGEMENT
<br /> THE RENTAL CONNECTION
<br /> INC.
<br /> C0 PY
<br /> PROPERTY MANAGEMENT AGREEMENT
<br /> THIS AGREEMENT,between ve.,( Re0 y hereinafter designated as"Owner and The Rental Connection hereinefter
<br /> designated'Agent. In consideration of the mutual proniises and covenants herein contained"Owner and"Agenr agree to the following:
<br /> 1. EXCLUSIVE AGENCY: Agent is hereby appointed by Owner to be the sole agent to rent, lease,operate and manage the property
<br /> known as: qz-iz. pcir_c2A. 14—it z. ) for an indefinite period of time
<br /> beginning on the ts day of V61, , 20 .and ending anytime thereafter where a minimum of 30 days written
<br /> notice is given by either party to the other,in which case this Agreement is terminated thirty(30)days from receipt of said notice.
<br /> 2. RENTING OF PREMISES: Owner authorizes Agent to: market the premises,display signs thereon, and rent the premises; cause
<br /> references of prospective tenants to be investigated; sign leases; renew and/or cancel existing leases, and prepare and execute new leases;
<br /> terminate tenancies;sign and serve such notices as are deemed necessary by the Agent; institute and prosecute action to oust tenants and to
<br /> recover possession of the premises;sue for and recover rent;settle,compromise,and release such actions or suits or reinstate such tenancies;
<br /> and to adjust rents and deposits according to market demand and/or risk.
<br /> 3. COLLECTION OF RENT: Owner authorizes Agent to collect rents and other income,to give receipts therefor,and to deposit all funds
<br /> collected hereunder in the Agent's trust account, The Broker shall not be responsible or liable for the failure of any tenant to pay rent or perform
<br /> any other covenant or agreement constituting a breach of any lease or agreement of tenancy.
<br /> 4. LEGAL PROCEEDINGS: Owner agrees to reimburse Agent for all legal costs incurred by Agent in any and all matters regarding the
<br /> eviction of tenants or the collection of funds due.
<br /> 5. MAINTENANCE: Agent is authorized in the name of and at the expense to the Owner,as may be advisable or necessary,to make or
<br /> cause to be made,ordinary repairs and/or alterations to the premises,make contracts for utileies,fuel,trash collection,or other term services,and
<br /> Owner will indeninify Agent for any responsibility e tracts beyond the term of this agreement. Agent may retain or hire,on behalf of the
<br /> Owner at the Owner's expense, services of eilt..fflie gent determines in Agent's reasonable discretion necessary for the
<br /> maintenance of the subject property. It is the , • s or companies be independent contractors and not employees.
<br /> The expense to be incurred for any one transacts . at g - n e st 4 6250.00 unless authorized by Owner,except monthly or recurring
<br /> operating charges and emergency repairs in excess of the maximum. • i r agrees that the stated sum of 11),F20 rt.5.7e may be maintained in
<br /> Agent's trust account at all times to be used for repair/maintenance costs. ft.-Vee C
<br /> 6. CONDITION OF PROPERTY: Owner warrants and assumes the responsibility that ail structural components of the premises are in
<br /> good repair and the premises are in good conformity with state and local regulations.
<br /> 1. STATEMENTS: Agent shall render to Owner a monthly statement of all receipts and disbursements, remitting the balance due the
<br /> Owner. The disbursements shall include the compensation of Agent on the basis provided. Agent will provide Owner a statement at the end of
<br /> each calendar year reporting yearly totals.
<br /> 8. REIMBURSEMENT OF AGENT: Owner shall reimburse Agent promptly for any monies which Agent may elect to advance for the
<br /> account of the Owner including but not limited to repairs,payment of utility charges,legal fees and grounds maintenance issues. Nothing contained
<br /> herein,however,shall be construed to obligate Agent to make any such advances,
<br /> 9. INDEMNITY: Owner agrees to indemnity,defend and hold Agent harmless against and from all claims arising from the condition of
<br /> the premises, acts of Owner or third parties on or about the premises,acts of Agent and or employees performed with the express or implied
<br /> consent of Owner,and from and against all costs,attorney's fees and expenses incurred by Agent in connection with such claims.
<br /> 10. INSURANCE: Owner agrees to carry adequate property insurance coverage to protect, to Owner's satisfaction, real and personal
<br /> property. Cost of this insurance shall be paid by Owner. Agent will be furnished a copy of such policy(s).
<br /> 11. MANAGEMENT COSTS TO OWNER: Owner agrees to pay Agent a management fee of 10% (ten percent) of the gross rent
<br /> collected per unit,per month. Owner agrees to pay to Agent a commission of one half of one month's rent for any new lease/rental agreement
<br /> regardless of whether the lease/rental agreement resulted from Owner's or Agent's efforts. The placement commission charge is limited to a
<br /> maximum of one charge per twelve month period per unit.
<br /> 12. DEPOSITS/FEES: A deposit shall be collected in advance by Agent at the start of any new lease,and will be retained by Agent in
<br /> an interest bearing account. All deposits paid by current tenants at the time this agreement becomes effective shall be turned over to Agent and
<br /> shall be deposited in an interested bearing account Agent may collect from tenant certain fees and some fees may result in monetary profit to
<br /> Agent. Fees collected include: credit report fees,late fees,returned check fees,fees for notices generated due to late or non payment of charges
<br /> etc. Any fees collected by Agent will be retained by Agent with the exception of pet fees which will be paid to Owner. Any and all interest paid by
<br /> any financial institution which results from money held on Owner's behalf including security deposits and reserve accounts will be retained and
<br /> deemed the property of Agent. Agent shall be the determining party as to the amount of the deposit refunded to tenant at the conclusion of a
<br /> tenancy.
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