Agmt 2005 Nebraska Mercy Services Corp

Home

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