General Duties and Authority. Subject only to the restrictions, limitations and covenants provided in Sections 2.2, 2.3 and 2.4 of this Article II and the right of the Partnership to terminate this Agreement as provided in Article VI hereof, CSM shall have the sole and exclusive authority to fully and completely supervise the Properties and supervise and direct the business and affairs associated with or related to the daily operations thereof and, to that end, to cause or direct the Partnership to execute such documents or instruments and hire or discharge such employees as, in the reasonable judgment of CSM, may be deemed necessary or advisable. Such duties and authorities shall include, but not be limited to, the following: (a) Renting of the Properties. CSM shall establish policies and procedures for directing the marketing activities of Partnership employees. CSM shall have the sole discretion, which discretion shall be exercised in good faith and consistent with reasonable business practices in the locality where each Property is situated, to establish the terms and conditions of occupancy by the lessees of rental units in Properties. CSM is hereby authorized to direct and control Partnership employees in entering into rental agreements on behalf of, in the name of and for the account of the Partnership with such lessees and in collecting rent from such lessees. CSM shall cause the Partnership to advertise in such media and to the extent CSM deems necessary and appropriate.
Appears in 1 contract
Sources: Management Agreement (Balcor Colonial Storage Income Fund 86)
General Duties and Authority. Subject only to the restrictions, limitations and covenants provided in Sections Paragraphs 2.2, 2.3 and 2.4 of this Article Section II and the right of the Partnership to terminate this Agreement as provided in Article Section VI hereof, CSM shall have the sole and exclusive authority to fully and completely supervise the Properties and supervise and direct the business and affairs associated with or related to the daily operations thereof and, to that end, to cause or direct the Partnership to execute such documents or instruments and hire or discharge such employees as, in the reasonable judgment of CSM, may be deemed necessary or advisable. Such duties and authorities shall include, but not be limited to, the following:
(a) Renting of the Properties. CSM shall establish policies and procedures for directing the marketing activities of Partnership employees. CSM shall have the sole discretion, which discretion shall be exercised in good faith and consistent with reasonable business practices in the locality where each Property property is situated, to establish the terms and conditions of occupancy by the lessees of rental units in Properties. CSM is hereby authorized to direct and control Partnership employees in entering into rental agreements on behalf of, in the name of and for the account of the Partnership with such lessees and in collecting rent from such lessees. CSM shall cause the Partnership to advertise in such media and to the extent CSM it deems necessary and appropriate.
Appears in 1 contract
Sources: Management Agreement (Balcor Colonial Storage Income Fund 85)