HomeMy WebLinkAbout1498 The term of the contract is for one (1) year, which year will
begin when conveyance is made by .the developer to the first purchaser
of a unit. It is provided that said agreement shall be automatically
renewed for one (1) year periods thereafter, unless a notice of can-
cellation in writing is sent by either party to the agreement to the
other within three (3) months prior to the expiration of the then
current period. Attention is directed to the fact that HILL TOP
DEVELOPERS, INC. is also the developer of the condominium project.
The agent (HILL TOP DEVELOPERS, INC.) will provide the
following services: -
Fiscal management for the association;
Collection of assessments;
Make disbursements from association funds as is necessary to
pay expenses, pay personnel and to maintain the property;
Pay all employees' taxes and prepare the necessary forms for
withholding taxes, Social Security taxes, unemployment insurance and
all other such forms required;
Prepare and submit to the Board of Directors an annual
operating budget;
Keep and maintain accurate records and books of account;
Furnish monthly statements of operations and receipts and
expenditures to Board of Directors;
Prepare and certify annual report;
See to the payment of all real estate taxes, personal pro-
perty taxes, licenses and fees which are payable by the association;
Perform general administrative services such as preparing
suitable meeting places for owners and Board members of the asso-
ciation, prepare agendas for such meetings;
Prepare and post all letters and reports as the Board of
Directors may direct;
Keep and maintain all records pertaining to the affairs and
proceedings of the association and of the Board;
Procure fidelity bonds as provided for in the management
agreement;
Supervise the maintenance of all required insurance policies;
review from time to time such policies as to the adequacy of coverage;
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