CONTINUATION OR TERMINATION. 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 begin on the [d. day - start of term] day of [e. month - start of term] [b. year of contract] and will be in affect continuously until and unless Owner/Landlord provides 30 days’ notice of cancellation, (unless OWNER/LANDLORD chooses the Fifteen Percent (15%) flat rate option, in such case the initial minimum term is 36 months from date of signed contract, or after an initial 12 months, owner may cancel with 30 days written notice and payment received in the amount of $500). Termination by OWNER/LANDLORD is effective when actually physically received, in writing, by BROKER/AGENT. All monies expended by BROKER/AGENT shall be paid to BROKER/AGENT prior to this cancellation and BROKER/AGENT is authorized to withhold any sums owed to BROKER from monies held prior to the final disbursement to OWNER/LANDLORD. BROKER/AGENT reserves the right to terminate this agreement without cause, upon written notice to OWNER/LANDLORD at any time or immediately with written notice if in the opinion of BROKER/AGENT'S professional judgement or legal counsel, OWNER/LANDLORD'S actions or inactions are illegal, improper, or jeopardize the safety or welfare of any tenants or other persons. Broker/Agent will try and lease the property at the prevailing rate of the current market.
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CONTINUATION OR TERMINATION. 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 begin on the [d. day - start of term] day of [e. month - start of term] [b. year of contract] and will be in affect continuously until and unless Owner/Landlord provides 30 days’ notice of cancellation, (unless OWNER/LANDLORD chooses the Fifteen Percent (15%) flat rate option, in such case the initial minimum term is 36 months from date of signed contract, or after an initial 12 months, owner may cancel with 30 days written notice and payment received in the amount of $500). Termination by OWNER/LANDLORD is effective when actually physically received, in writing, by BROKER/AGENT. All monies expended by BROKER/AGENT shall be paid to BROKER/AGENT prior to this cancellation and BROKER/AGENT is authorized to withhold any sums owed to BROKER from monies held prior to the final disbursement to OWNER/LANDLORD. BROKER/AGENT reserves the right to terminate this agreement without cause, upon written notice to OWNER/LANDLORD at any time or immediately with written notice if in the opinion of BROKER/AGENT'S professional judgement or legal counsel, OWNER/LANDLORD'S actions or inactions are illegal, improper, or jeopardize the safety or welfare of any tenants or other persons. Broker/Agent will try and lease the property at the prevailing rate of the current market.
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