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<br />ARTICLE V MANAGEMENT <br /> <br />5. Manaqer's Duties. Throughout the term of this Agreement, Manager will <br />use Manager's best efforts and due diligence to manage the Project in <br />accordance with the terms and conditions set forth in this Agreement and policies <br />recommended from time to time by Agency or by Manager and approved by <br />Agency. The services to be provided by Manager under this Agreement are to <br />be of a scope and quality not less than those generally performed by <br />professional managers of other similar properties in the San Francisco Bay Area. <br />Manager will make available to the Agency the full benefit of the judgment, <br />experience and advice of the members of the Manager's organization with <br />respect to the management and operation of the Project, and will perform such <br />services as may be reasonably requested by Agency in operating, maintaining <br />servicing, improving and leasing the Project. <br /> <br />5.1 Manaqer Orientation. Manager acknowledges that Manager is <br />familiar with (a) the Property, (b) the operation and maintenance of all <br />mechanical systems located in the Project, (c) the occupancy of the Project and <br />the terms of any leases or rental agreements applicable to the Project, (d) the <br />most current operating expenses of the Project provided by the Agency, (e) the <br />fire codes, building codes and similar requirements affecting the Project, and (f) <br />the general operations of the Project. <br /> <br />Within 30 days after the Effective Date, Manager will provide to Agency an <br />inventory of all personal property located in the Project, a listing of all books and <br />records of Agency to be maintained by Manager, a listing of all service contracts <br />relating to the Property and the Project, a confirmation that the Manager has <br />obtained all keys, combinations to locks and other security devices located in the <br />Project, a current rent roll for the Project indicating all leases and rental <br />agreements in effect and the amount of any security deposits, if any, paid by the <br />tenants of the Project, copies of all leases, and such additional information as the <br />Agency may reasonably request. Within thirty (30) days following the Effective <br />Date, Manager shall provide Agency with a written report summarizing <br />Manager's recommendations regarding necessary Project repairs and estimated <br />costs to complete such repairs. <br /> <br />5.2 Not Used <br /> <br />5.3 Property Manaqement. Throughout the term of this Agreement, <br />Manager shall be responsible for the interim management and operation of the <br />Project as affordable rental housing with supportive tenant services, and shall <br />provide all services customarily provided by property managers of similar multi- <br />family housing developments. Manager's responsibilities shall include, without <br />limitation, termination of tenancies when necessary, collection of rents and <br />deposits, maintenance of the Improvements and landscaping, performance of <br />routine and extraordinary repairs, replacement of capital items, provision of <br />security services and coordination of tenant supportive services. Except as <br /> <br />776633-4 Final <br />