HomeMy WebLinkAbout0504 -2- (Management Agreement) - .
WHEREAS, the Condominium is desirous of entering into
a management agreement providing for the management of the
aforesaid condominium apartment project;
NOW, THEREFOR, in consideration of the sum of Ten
($10.00) Dollars each to the other in hand-paid, receipt
/
whereof is hereby acknowledged, and the covenants to be
kept and performed by each of the parties hereto, it is
mutually agreed as follows, to-wit:
1. The foregoing recitals are true and correct.
2. The Mar~agement Corporation agrees that it will super- ~
vise and employ personnel necessary for the performance of this
contract and shall perform all common management obligations,
including but not limited to, lawn maintenance, repairs and
maintenance of buildings, excluding damage caused by act of
God or calamity including civil commotion, which coverage is
provided to the Condominium by its hazard and other insurance,
to pay from the consideration received and to be received
under the terms of this Agreement the expense of recreation
as provided in the condominium land lease and other like
maintenance and management expenses, excluding, however, any
.
I~ tax or taxes for the following contractual sum.
I
~ a. Deluxe two-bedroom
~ apartment unit $23.00 per month
b. Standard two-bedroom
apartment unit $21.50 per month
c. Standard one-bedroom
apartment unit $19.00 per month
Definitions: For the purpose of this Agreement,
~ en apartment units on first and second floors
are known as deluxe two-bedroom apartment units.
All two-bedroom~inside apartment units on first
loors shall be known as standard
two-bedroom apartment units. A sing e e room
~ apartments on first and second floors shall be
~ known as standard one bedroom apartment units.
3. This contract shall continue in force and effect for
a term of five (S) years then next ensuing from Feb. 26, 1970 ,
~
~ until February 26, 1975 . It is specifically agreed
~
that the Management Corporation shall have exclusive option ~
~
3.m .
=F~~ to renew this Management Agreement for an additional period
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