Common use of Exclusive Agency; Term Clause in Contracts

Exclusive Agency; Term. Owner hereby designates Manager to serve as the "Property Manager" of the Property. Manager shall have the exclusive right and duty to rent, lease, operate and manage Property. The term of this Agreement shall be for the period of one year beginning on the date hereof, and thereafter the Agreement shall automatically renew for annual periods unless on or before the sixtieth (60th) day prior to the then expiration date of the term hereof, either party hereto shall notify the other in writing of its intention to terminate this Agreement in which case this Agreement shall terminate as of the end of the then current term. Notwithstanding anything to the contrary, Owner may terminate this Agreement without cause by giving Manager thirty (30) days notice in writing. Upon termination of this Agreement, Manager shall turn over to Owner all books and records and all leases and contracts pertaining to the Property. Notwithstanding anything to the contrary herein, Manager may subcontract with a local property manager to act as property manager for the Property.

Exclusive Agency; Term. Owner The Association hereby designates Manager to serve as the "Property Manager" of the Property. Manager shall have the exclusive right and duty to rent, lease, operate and manage Property. The term of this Agreement shall be for the period of one year beginning on the date hereof, and thereafter the Agreement shall automatically renew for annual periods unless on or before the sixtieth (60th) day prior to the then expiration date of the term hereof, either party hereto shall notify the other in writing of its intention to terminate this Agreement in which case this Agreement shall terminate as of the end of the then current term. Notwithstanding anything to the contrary, Owner the Association may terminate this Agreement without cause by giving Manager thirty (30) days notice in writing. Upon termination of this Agreement, Manager shall turn over to Owner the Association all books and records and all leases and contracts pertaining to the Property. Notwithstanding anything to the contrary herein, Manager may subcontract with a local property manager to act as property manager for the Property.