EXCLUSIVE RESIDENTIAL PROPERTY MANAGEMENT AGREEMENT 1. PARTIES: This agreement between _______________________________________________, hereinafter called “OWNER” and Metro Residential LLC, 450 NE 5th Street, Suite 3, Fort Lauderdale, FL 33301, hereinafter called “MANAGER”. Landlord or legally appointed representative of the premises, whereby the OWNER appoints the MANAGER, its agents, successors, and assigns EXCLUSIVE AGENT to rent, operate, control and manage the following property: ADDRESS: _______________________________________________________________________________ # UNITS: ____ The property includes the entire premises in full UNLESS any areas such as shed(s), storage closet(s), garage, attics, crawl spaces, other storage areas, sheds, or rooms are specifically excluded by OWNER in writing. 2. TERM: It is mutually agreed by and between the parties that this Management Agreement shall be binding upon the parties’ successors, estate and assigns and shall remain in full force and effect until termination pursuant to the terms of this paragraph. The term shall be from ____________ through ____________, unless earlier terminated as provided in Section 5. 3. DUTIES. OWNER employs MANAGER as the sole exclusive Agent of OWNER to manage the Property upon the terms and conditions provided herein. MANAGER accepts the employment and shall furnish the services of the organization for the management of the Property. OWNER shall pay all of the expenses in connection with this service described herein. OWNER understands and agrees that MANAGER's services will be performed through one or more authorized agents, and any reference to MANAGER in this Agreement includes such authorized agents. POWER OF ATTORNEY: MANAGER is hereby granted limited power of attorney to perform the duties set forth herein. MANAGER is granted by the OWNER the right to manage the property as the MANAGER deems necessary and to do all those things MANAGER deems necessary for the efficient management of the property with the exception of authority or responsibilities expressly retained by OWNER in writing. (A) MANAGERS RESPONSIBILITIES: 1. Collect monthly rents and other rental related fees from the tenants; 2. Pay bills relative to the property and specific to OWNER; 3. Maintain records and accounts of all receipts and expenditures with respect to the property; 4. Notify utility companies, vendors and government municipalities provided by OWNER that are currently servicing the Property to forward bills for utility services and licenses in the name of OWNER directly to and in care of MANAGER; 5. Provide OWNER monthly itemized statement of all property rent collected and expense receipts incurred; 6. Maintain property maintenance and repairs, utility services, inspections, renovations, remodels; 7. Report to OWNER adverse conditions related to the property which shall require the attention of the OWNER; 8. Post the proper preliminary notices in the event an adverse action is required; 9. Lease vacant/vacating units; 10. Pay owner Distribution payments.
(B) OWNERS RESPONSIBLITIES: 1. Determination of any utility, pool, HOA, governmental municipality licenses and fees due; 2. Payment of property taxes, insurance premiums, mortgage payments; utility, pool, or government municipality licenses and fees; unless otherwise specified in this Agreement and attached hereto; 3. Determination of Insurance policies to be purchased; 4. Supplying MANAGER with rules and regulations, CC&R, applications to the premises, if any. 4. RELATIONSHIP OF MANAGER TO OWNER. The relationship of the parties to this Agreement shall be that of principal and agent, and all duties to be performed by MANAGER under this Agreement shall be on behalf of OWNER, in OWNER's name and for OWNER's account. In taking any action under this Agreement, MANAGER shall be acting only as agent for OWNER, and nothing in this Agreement shall be construed as creating a partnership, joint venture or any other relationship between the parties or as requiring MANAGER to bear any portion of losses arising out of or connected with the ownership or operation of the Property. MANAGER shall not at any time during the period of this Agreement be considered a direct employee of OWNER. Neither party shall have the power to bind or obligate the other except as expressly set forth in this Agreement, except that MANAGER is authorized to act with such additional power as may be necessary to carry out the spirit and intent of this Agreement. MANAGER, under this Agreement, shall not be responsible for delays in the performance of any obligation unless there is an intentional delay caused by MANAGER or its agents.
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5. TERMINATION. (A) Early Termination. This Agreement may be terminated by OWNER before the termination date specified in Section 2 by written notice to MANAGER not less than _____days prior to the termination date specified in such notice, together with a termination fee in the amount of $ _ ___or equal to the management fee that would accrue over a ____month Lease Agreement term or this Agreement, whichever is greater. However, If OWNER terminates this Agreement after MANAGER has begun marketing the property and prior to MANAGER leasing the Property, OWNER agrees to pay MANAGER an additional cancellation fee of $ ____ . Furthermore, if a tenant was placed while under contract with the MANAGER, a fee in the amount of ____% of 1 months’ rent for a 12 month lease or 5% of the total lease amount if lease less than 12 months will be due to MANAGER, unless at least ____ % of that tenants lease duration has past. In the event OWNER directs MANAGER to transfer files and documents to a succeeding management company, OWNER will pay MANAGER a transfer fee of $______ prior to doing such. Within ten days of termination, OWNER will pay MANAGER all monies due under this Agreement. This Agreement may be terminated by MANAGER before the termination date specified in Section 2 upon 30 days written notice to OWNER. All monies expended by MANAGER shall be paid to MANAGER prior to this cancellation and MANAGER is authorized to withhold any sums owed to MANAGER from monies held prior to the final disbursement to OWNER. (B) OWNER Responsible for Payments. Upon termination of this Agreement, OWNER shall assume the obligations of any contract or outstanding costs incurred by MANAGER under this Agreement. MANAGER may withhold funds for 30 days after the end of the month in which this Agreement is terminated in order to pay bills previously incurred but not yet invoiced and to close accounts. MANAGER shall deliver to OWNER, within 30 days after the end of the month in which this Agreement is terminated, any balance of monies due OWNER or tenant security deposits, or both, which were held by the MANAGER with respect to the Property, as well as a final accounting reflecting the balance of income and expenses with respect to the Property as of the date of termination or withdrawal. If, after termination, MANAGER receives funds which are payable to the OWNER, MANAGER may deduct an administration fee of 10%, before delivering the balance of the funds to the OWNER. (C) Leasing Fee Survives. In addition to the amounts specified in paragraph A of this Section, if OWNER terminates this Agreement before the termination date in Section 2 and/or before the Property is leased, and within 90 calendar days of the termination the Property is leased to anyone with whom the MANAGER has had negotiations or to whom the Property was shown prior to the termination, MANAGER shall be paid the Leasing Fee set forth in Section 22(C). This paragraph C shall not apply if OWNER enters into a valid property management agreement with another licensed real estate MANAGER after termination of this Agreement. 6. INDEMNIFICATION SURVIVES TERMINATION. All representations and warranties of the parties contained herein shall survive the termination of this Agreement. All provisions of this Agreement that require OWNER to have insured or to defend, reimburse or indemnify MANAGER shall survive any termination. If MANAGER becomes involved in any proceeding or litigation by reason of having been OWNER's MANAGER, such provisions shall apply as if this Agreement were still in effect. 7. RENTALS: MANAGER will use his best efforts to lease or rent with the following terms: PRORATED RENT AND SECURITY DEPOSIT WILL BE COLLECTED BEFORE OCCUPANCY. Security Deposit shall remain in a designated Florida banking institution operating account owned and managed by the MANAGER. OWNER agrees to hold MANAGER harmless for any failure to secure tenant(s) for the OWNER, any cancellation by the tenant(s), and/or failure to collect any rents or monies due from the Tenant for any reason. Rental Rates will be the current market rate as determined in the sole judgment of MANAGER. Late charges or fees owed by any tenant(s) shall be collected at the discretion of the MANAGER and OWNER shall retain any such rent, late fees and NSF fees and MANAGER will receive a fifty percent (50%) commission from such charges and late fees. In the event a prospective Tenant places a good faith or holding deposit with MANAGER and fails to take possession, said deposit or portion thereof, if retained, shall be disbursed 50% to OWNER and 50% to MANAGER. MANAGER retains the sole and exclusive right to refund this deposit to prospective Tenant in full or part upon the advice of MANAGER S legal counsel and OWNER agrees to hold MANAGER harmless for it. 8. OWNER’S INSURANCE. OWNER shall obtain and keep in force adequate insurance against damage and against liability for loss, damage or injury to property or persons which might arise out of the occupancy, management, operation or maintenance of the Property. The deductible required under such insurance policies shall be OWNER's expense. MANAGER shall be named as an additional insured on all liability insurance maintained with respect to the Property. Liability insurance shall be in form, substance and amounts reasonably satisfactory to MANAGER. OWNER shall provide MANAGER with proof of insurance policies in force. Such policies shall provide that notice of default or cancellation shall be sent to MANAGER as well as OWNER and shall require a minimum of 30 days written notice to MANAGER before any cancellation of or changes to such policies. OWNER agrees to and does hereby indemnify and hold harmless MANAGER, its employees, agents and assigns, from any and all claims, suits, damages costs, losses and expenses arising from the management of the property and from any injury to persons and/or property occurring on or about the premises. OWNER agrees to indemnify MANAGER for any damages suffered as a result of any lapse in or failure by OWNER to maintain insurance coverage.
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9. SAVE HARMLESS. OWNER shall indemnify, defend and save MANAGER harmless from all loss, investigation, suits, damage, cost, expense (including attorneys fees) liability or claims for personal injury or property damage incurred or occurring in, on or about the Property. 10. MANAGER ASSUMES NO LIABILITY. MANAGER assumes no liability for any damages, losses, or acts of omission by the Tenant. MANAGER assumes no liability for any acts or omissions of OWNER or previous OWNERs or previous MANAGERs. MANAGER assumes no liability for default by any tenant. MANAGER assumes no liability for violations of environmental or other regulations which may become known during the term of this Agreement. Any such regulatory violations or hazards discovered by MANAGER shall be brought to the attention of OWNER, and OWNER shall promptly cure them. MANAGER shall not be liable in the event of bankruptcy or failure of the depository bank where OWNER's funds are deposited. 11. OWNERS RESPONSIBILITY FOR EXPENSES OF LITIGATION. (A) LITIGATION AND COMPLIANCE EXPENSES. OWNER shall pay all fines, penalties, or other expenses in connection with any claim, proceeding or suit involving an alleged violation of any law pertaining to fair employment, fair credit reporting, environmental protection, rent control taxes or fair housing, including illegal discrimination on the basis of race, sex, sexual orientation, color, religion, national origin, physical handicap, familial status, elderliness or all other protected classes; provided, however, that OWNER shall not be responsible to MANAGER for any such expenses if MANAGER is finally adjudged in a court of law to have personally, and not in a representative capacity, violated any such law. Nothing contained in this Agreement shall obligate MANAGER to employ legal counsel to represent OWNER in any such proceeding or suit. (B) FEES FOR LEGAL ADVICE. OWNER shall pay reasonable expenses incurred by MANAGER in obtaining legal advice regarding compliance with any law affecting the Property. If such expenditure also benefits other principals of MANAGER, OWNER shall pay an apportioned amount of such expense. 12. OWNER REPRESENTATIONS. OWNER represents and warrants that OWNER has full power and authority to enter into this Agreement; that there are no written or oral agreements affecting the Property other than disclosed tenant leases, copies of which have been furnished to MANAGER; that there are no recorded easements, restrictions, reservations or rights of way which adversely affect the use of the Property for the purposes intended under this Agreement; that the Property is zoned for the intended use; that all permits for the operation of the Property have been secured and are current; that the building and its construction and operation do not violate any applicable statutes, laws, ordinances, rules, regulations, orders or the like; and that the information supplied by OWNER is dependable and accurate. OWNER REPRESENTS THAT ANY LOANS, NOTES, MORTGAGES, TAXES, DUES OR TRUST DEEDS ARE PAID AND ARE CURRENT WITHOUT DEFAULTS; and that any future defaults on any loans, mortgages, dues or trust deeds will be reported to MANAGER within 14 business days of OWNER's receipt of notice of default (which commences foreclosure proceedings). 13.UTILITIES: In any lease where the tenant(s) shall have use of the OWNER'S utilities and OWNER is responsible for all or part of the bill(s), OWNER shall allow MANAGER to pay any and all of these and other “House” or “Common Area” utility bills in a timely manner from funds in the Properties Operating Account. OWNER shall not cause the termination of these services and OWNER agrees to indemnify MANAGER for any damages or litigation fees/cost incurred by MANAGER if OWNER improperly terminates a utility service. MANAGER will deduct bills to the extent of funds available and OWNER agrees that MANAGER shall be in no way responsible for nonpayment of or theft of any utility service by tenant(s). 14. FUNDS: Any monies collected or received by MANAGER will be held in MANAGER ’S Property Specific Operating Account and interest, if any earned, and permitted by law to be retained by MANAGER, shall be paid to MANAGER for administrative services and partial escrow agent's fee. Security Deposits originating from the property shall be held by MANAGER. 15.CONDOMINIUM/HOMEOWNERS ASSOCIATIONS: In a condominium unit, the lease shall be subject to the Declaration of Condominium pertaining thereto and the rules and regulations of the Association and Board of Directors there under and, further, the OWNER shall be responsible for providing MANAGER with all current rules and regulations, and for payment of any recreation, land, and/or other fees, fines levied by the association, or assessments and OWNER agrees to indemnify MANAGER for payment of same. In the event the tenant(s) fail to comply with the rules and regulations and the association or board levies fines or assessments against the OWNER, OWNER agrees that MANAGER is in no way liable for the payment of any fees, fines, or assessments. OWNER UNDERSTANDS THAT THE HOA'S DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS (CC&RS) MAY RESTRICT THE LEASING OF THE PROPERTY, AND IT IS OWNER'S SOLE RESPONSIBILITY TO DETERMINE WHETHER THE PROPERTY IS SO AFFECTED. MANAGER assumes no liability for any costs associated with a Tenant's move‐out. MANAGER assumes no liability for understanding or complying with the CC&Rs, and has no responsibility for any future amendments or additions to the CC&Rs. OWNER remains solely responsible for assessments, violations and fines/fees payable to the CIC, and agrees to reimburse MANAGER for any such assessments, fines or fees which MANAGER may pay on OWNER's behalf. Any subsequent and separate notice which identifies MANAGER as OWNER's property MANAGER will not affect the terms of this Section.
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16. FURNISHINGS/WARRANTIES/KEYS/RECEIPTS: The OWNER shall deliver a copy of the furnishings inventory if furnished or, in the alternate, pay the MANAGER $50.00 per hour to provide it. (This fee is subject to change with notification by first class mail). It is OWNER’S responsibility to keep the MANAGER advised of any changes to the inventory. OWNER is also to deliver copies to MANAGER of any Service Contracts or Warranties that exist, if any. If no Warranties or Service Contracts are received at the time this agreement is executed, MANAGER shall assume none exist. A current service contract or warranty stating what is covered for repairs if given to the MANAGER by the OWNER will be given to the tenant to arrange scheduling of repairs with the company named in the contract. MANAGER is not responsible for payment if an independent contractor inadvertently due to a tenant call for service is sent out. The tenant will be billed for the repair. OWNER will not secure any vendors for performing services on or in their property, but may provide a list of “preferred” vendors that the MANAGER may wish to utilize. OWNER will provide at least two (2) full sets of keys & fobs for unit, mail, garage, pool, gates, common areas and any other keys to the MANAGER. The MANAGER shall retain all receipts and all other paperwork relative to the operation of the property and mail such to OWNER in January of each year with the Annual Property Report. A fee of $50.00 per hour/per time will be billed for submitting such paperwork to OWNER at any other time. 17. LEASING, EVICTIONS. MANAGER is given the Exclusive Right to screen and approve or disapprove prospective tenant(s), to deliver, on OWNER’S behalf, any default notices to tenant(s) as may be necessary. MANAGER or MANAGER S AGENT is given the authority to sign all leases(s).Any legal notices or institution of eviction or damage proceedings against tenant(s), through the courts or otherwise, must be handled solely by the MANAGER of which MANAGER may hire an attorney to perform the eviction if deemed necessary. Costs and Attorneys Fees to evict tenant(s), including an Eviction Posting/Delivery Fee, will be paid by OWNER in advance and OWNER agrees to hold MANAGER harmless for it. In the event tenant(s) vacate voluntarily or involuntarily owing rent monies due under the terms of the lease or any renewals, and, if these monies are collected in whole or part in the future, OWNER agrees that MANAGER is entitled to a commission on any monies received in the percentage as set forth below and agrees to remit same to MANAGER. 18. OWNER warrants that the unit to be managed is a legal rental unit and rental of it will not be in violation of any rules, laws, or ordinances. 19. DAMAGES or MISSING ITEMS: MANAGER is not responsible for damage to the premises or items missing, switched out, lost or damaged under any circumstances, including but not limited to, theft, vandalism or negligence of tenant(s) or their guests. In furnished units, an inventory will be checked by MANAGER or MANAGER ’S Agent at departure. In the event tenant(s) damage the premises or owes any monies to the OWNER, MANAGER is given the exclusive authority to determine in its professional judgment the amount due, charge the Tenant accordingly and/or settle with the tenant(s) upon advice of MANAGER or MANAGER ’S legal counsel. MANAGER is given the power to make claims upon the security deposit on behalf of OWNER and MANAGER shall not be held liable for any failure to make claim(s) on any damages, which were not readily apparent to MANAGER. 20. HURRICANES, TROPICAL STORMS, ACTS OF GOD: MANAGER shall not be responsible to take any precautionary measures to avoid any damages from any acts of god unless agreed to in writing between MANAGER and OWNER. Hurricane preparation instructions for the property, if any, shall be attached, as an addendum, to this contract. 21. MAINTENANCE AND REPAIRS: (A) MANAGER is given the right to spend an amount not to exceed $ for any one (1) maintenance and/or repair issue and pay for same out of the Properties Operating Account, and, if over this amount, MANAGER must receive OWNER’S pre‐approval. In case of emergency, i.e. air conditioning, heat, appliance, water or plumbing or any other repair the MANAGER deems an emergency and/or necessary in MANAGER ’S sole judgment for the safety of the tenant(s) or the welfare of the property, MANAGER has authority to institute repairs, even if over the aforementioned limit. (B) OWNER agrees that in the event of an insurance claim, OWNER will be charged a customer service fee of 10% of the total amount of the repair. This fee is to cover arranging for, coordinating the claim and repair with the insurance company. (C) OWNER agrees that in the event the MANAGER acts as a General Contractor to oversee and or coordinate a project, major renovation, remodel, improvement or anything outside the scope of a Unit Make Ready or Service Order, the OWNER will be charged a fee of 10% of the total amount of the cost of such. (D) MANAGER will arrange for all repairs, inspections, maintenance and cleanings, unless OWNER has notified MANAGER in writing prior to the commencement of repairs to use someone else that OWNER has selected. (E) OWNER agrees to pay for any materials or services purchased through MANAGERS own credit or charge account(s) or lines of credit, and agrees to pay MANAGER cost plus ten (10) % and a service charge of 1.50% of the unpaid monthly balance on any of MANAGER S own accounts of over 30 days old/unpaid. (F) If there are insufficient funds in the Property Operating Account on the date the fees are due, OWNER will allow MANAGER to draw from the reserve amount in the account balance, to pay for all fees due, and OWNER agrees to submit funds to MANAGER to replenish the reserve in the account to an agreed upon amount listed herein.
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22. MANAGER COMPENSATION AND EXPENSES. As compensation for the services rendered by MANAGER under this Agreement (and exclusive of reimbursement of the expenses to which MANAGER is entitled hereunder), OWNER shall pay MANAGER as follows:
(A) MANAGEMENT FEE; MANAGER shall be entitled to a management fee of _____% per month of rents collected from the 1st day of each month through the last day of the month, or a MINIMUM FEE of $_____, whichever is greater, to be paid by the _____ day of the month. OWNER agrees to pay MANAGER according to this schedule during the entire Agreement term, and MANAGER shall be entitled to _____% of collected late fees and NSF fees, due by tenant(s). (B) SET‐UP FEE; MANAGER shall be entitled to a one‐time SET‐UP FEE of $_______ per unit which will be paid in full up front or deducted from the Operating Account within the first 30 days of the contract. (C) TENANT PLACEMENT FEE: MANAGER shall be entitled to a tenant placement fee of equal to __________ or (____%) of one (1) month’s rent, for a signed twelve (12) month lease agreement, and on a lease agreement of less than twelve (12) months, the OWNER shall pay a lease signing fee equal to __________ or (____%) of the total agreement amount if tenant placed by Randy Bultema‐Licensed Real Estate Agent for MANAGER. (D) AGENT REFERRAL FEE; If Tenant is referred by a cooperating Licensed Real Estate Agent, that Agent shall be entitled to a tenant referral fee of equal to __________ or (____%) of one (1) month’s rent, for a twelve (12) month lease agreement and on a lease agreement of less than twelve (12) months, the Agent shall receive a tenant referral fee equal to __________ or (____%) of the total agreement amount. (E) LEASE RENEWAL FEE; MANAGER shall be entitled to a lease renewal fee equal to ________ or (____%) of one (1) month’s rent, for a signed twelve (12) month lease agreement, and on lease agreement of less than twelve (12) months, a lease renewal fee equal to __________ or (____%) of the total agreement amount.
(F) ADVERTISING FEE; MANAGER shall be entitled to an ADVERTISING FEE of cost plus ten (_____) % purchased through MANAGERS own credit or charge account(s) or lines of credit used for advertising of OWNERS property. (G) TERMINATION FEE. MANAGER shall be entitled to a TERMINATION FEE pursuant to Section 5 herein. (H) ONLINE RENT PAYMENT FEE; In the event that OWNER agrees to pay the SECURITY DEPOSIT AND RENTAL PAYMENT fees to allow tenants to use the online service, the fee is $2.49 per checking account funds transfer and 3% + $1.00 per MasterCard and Discover Card funds transfer. Otherwise, tenants will be charged accordingly for these fees. (I) PROPOSAL/PROJECT MANAGEMENT FEE. If MANAGER is required to obtain a 1.Proposal and/or acts as a 2.Project Manager to coordinate and /or oversee a project, including any major renovation, remodel improvement or otherwise outside the scope of a Unit Make Ready or Service Order, the OWNER agrees to pay MANAGER 1. A $35/trip charge and 2. 10% of the total amount of the project.
(J) RESERVE BALANCE; OWNER agrees to allow MANAGER to retain $_______* or an amount equal to 10% of one (1) months rent (whichever is greater) in the Properties Operating Account as a Reserve, and if this account falls below this amount, MANAGER may replenish it from the rents received, or OWNER agrees to submit funds to MANAGER if sufficient funds are not available. In the event repairs are made, MANAGER shall withhold the amount disbursed from the next ensuing rent payment or from any rents received but not yet forwarded to OWNER. If there are insufficient funds in the Property Operating Account on the date any fees are due, OWNER will allow MANAGER to draw from the reserve amount in the account balance, to pay for all fees due, and OWNER agrees to submit funds to MANAGER to replenish the reserve in the account to an agreed upon amount listed in Section 22 of this contract. *$5.00 monthly checking account fee assessed if balance falls below this amount. (K) TENANT ADVERSE ACTION POSTING FEE; MANAGER shall be entitled to a POSTING FEE of $_______ for each time tenant(s) must be notified with a physical posting as a result of adverse action from the tenant including; Notice to Quit or cure for non‐payment of rent, 7 day notice to quit or cure. This amount will be subsequently due by TENANT to OWNER and MANAGER will charge TENANT that same amount and withhold from TENANTS Security Deposit if not paid prior to vacating.
(L) PROPERTY INSPECTION; MANAGER shall be entitled to an INSPECTION FEE of $_______ per unit to conduct a complete property inspection, for Housing Subsidies, to attend an appeal at a Housing Subsidies hearing, or by Owners request. An hourly fee of $35.00 per hour shall be paid to MANAGER for all necessary or requested tasks not considered normal management duties and not listed under Section 3 of Management Agreement
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23. PROCEEDS: MANAGER shall send OWNER the proceeds collected from the rental of property minus the rental commission, fees and any costs and expenses owed. It is understood that no funds will be released until such time as monies have cleared the MANAGER 'S bank. OWNER Distribution payments are made to OWNER once a month by MANAGER and funds shall be paid by the 15th day of the month and only on tenant(s) funds that have cleared MANAGER 'S account(s) as allowed by law. 24. NOTICES: Whenever any notice is required in this agreement or desire to communicate formally or legally by OWNER to MANAGER , notice must be in writing and mailed certified or return receipt requested to the address as indicated hereafter, and deemed delivered upon physical receipt thereof, not date of mailing, unless by Facsimile. 25. CONTACT WITH THE TENANTS: OWNER agrees to have no contact with the Tenants whatsoever by phone, fax, email, mail, in person or through any other means and shall immediately direct any and all attempted contacts to the MANAGER . OWNER understands and agrees that any contact with the Tenants may result in the OWNER being forced to appear in a court of law in the event of litigation, including but not limited to eviction/security deposit lawsuits. 26. FACSIMILE SIGNATURES: The parties agree that this agreement may be executed by facsimile and such facsimiles shall be binding as if originals. Emails cannot be used to bind, add or delete anything in the agreement. 27. LEAD‐BASED PAINT: If the property was built prior to 1978, OWNER will provide to MANAGER any information known about lead‐based paint hazards in or on the property and with all available documents pertaining to such paint and hazards, as required by federal law. OWNER understands that the law requires the provision of this information to the MANAGER and to prospective tenants before tenants become obligated to signing a lease. OWNER acknowledges that MANAGER will rely on OWNERS representations regarding the property when dealing with prospective tenants. 28. MOLD DISCLOSURE: If required by law, the OWNER will provide to the MANAGER any information known about mold and will complete a MOLD DISCLOSURE form provided by the MANAGER. 29. IN COMPLIANCE WITH THE FEDERAL FAIR HOUSING ACT, MANAGER is forbidden to place any restrictions on OWNER’S property based on race, religion, handicap, sex, national origin or familial status. 30. ADDENDUM(S), if any, will be attached to this Contract. OWNER 1: PRINT NAME: _____________________________________________________. DATE: ____/____/____ OWNER 1: SIGN NAME: _________________________________________________________________________.
OWNER 2: PRINT NAME: _____________________________________________________. DATE: ____/____/____ OWNER 2: SIGN NAME: __________________________________________________________________________.
MANAGER : PRINT NAME: ______________________________________________________. DATE: ____/____/____ MANAGER : SIGN NAME: __________________________________________________________________________.
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