Common use of Managers Responsibilities Clause in Contracts

Managers Responsibilities. The Manager shall have the following duties and responsibilities together with any other duties and responsibilities shown on Schedule A: A. To use reasonable efforts to lease available space in the property to residents. Manager may place newspaper advertising, post rental signs, prepare circulars and engage in other forms of promotion & advertising at Owner’s expense. Owner shall refer all inquiries for leases or renewals to Manager and all negotiations shall be conducted by Manager. B. To collect all rentals, security deposits and other income from the property. C. To refund resident’s security deposits as required by law and if legally required, pay interest on security deposits. To the extent permitted by law, Manager shall first apply the security deposit towards any rent, unpaid balances & damage Owner has suffered by reason of the actions of residents or resident’s guests. The application of security deposit toward damages shall be itemized and such itemization shall be delivered to resident in accordance with law. Manager, on Owner’s behalf, shall comply with all legal requirements concerning payment and withholding of security deposits. D. On a monthly basis, provide operating statements to the Owner’s representative as shown on Schedule A & B. E. To pay on behalf of Owner the services and other items shown on Schedule A and deduct the amount thereof from proceeds payable to Owner. If disbursements made by Manager are in excess of receipts, Owner agrees to pay such excess promptly. Manager shall not be obligated to advance its own funds on behalf of Owner. F. Owner authorizes Manager to institute legal action either in the name of Owner or in the name of the Manager and at Owner’s expense to enforce the collection of rent or other income for the property and to evict residents for nonpayment of rent or material violation of the lease. In connection therewith, Manager may engage an attorney at Owner’s expense. G. Owner to procure insurance, listing Valley Rental Service Inc. as an additional insured, with the minimum coverage and limits shown on Schedule A. H. To employ and discharge and to compensate, at Owner’s expense, all employees necessary for the maintenance and operation of the property and to withhold from and remit to the proper governmental authority all legally required withholdings and to pay the Employer’s share of all payroll taxes. Alternatively, the Manager may contract for all such services with independent contractors at Owner’s expense either by requesting bids or negotiating contracts at Manager’s option. All employees will be employees of Manager. Manager will pay the employees, at Owner’s expense, making all required deductions and paying all necessary payroll taxes and premiums for Workers Compensation, unemployment compensation, etc. I. To notify Owner of any noncompliance complaints, warnings, notice or summons received by Manager related to such matters. Manager is not responsible for compliance of any buildings on the property with such requirements. J. To make emergency repairs which may be required because of danger to life or property or which are immediately necessary for the preservation and safety of the property or the safety of the residents or required to avoid suspension of any necessary service to the property. K. To advertise and otherwise promote the leasing of available premises, to the extent it deems advisable. The Owner shall pay, within established budgetary guidelines, 100% of the cost of all promotional & advertising costs, including the cost of a professionally prepared brochure, if necessary. Costs to be incurred beyond the budgetary guidelines will require prior approval of the Owner.

Managers Responsibilities. The Manager shall have the following duties and responsibilities together with any other duties and responsibilities shown on Schedule A: A. To use reasonable efforts to lease available space in the property to residentstenants. Manager may place newspaper advertising, post rental signs, prepare circulars and engage in other forms of promotion & advertising at Owner’s expense. Owner shall refer all inquiries for leases or renewals to Manager and all negotiations shall be conducted by Manager. B. To collect all rentals, security deposits and other income from the property. C. To refund resident’s security deposits as required by law and if legally required, pay interest on security deposits. To the extent permitted by law, Manager shall first apply the security deposit towards any rent, unpaid balances & damage Owner has suffered by reason of the actions of residents tenants or resident’s guests. The application of security deposit toward damages shall be itemized and such itemization shall be delivered to resident in accordance with law. Manager, on Owner’s behalf, shall comply with all legal requirements concerning payment and withholding of security deposits. D. On a monthly basis, provide operating statements to the Owner’s representative as shown on Schedule A & B. E. To pay on behalf of Owner the services and other items shown on Schedule A and deduct the amount thereof from proceeds payable to Owner. If disbursements made by Manager are in excess of receipts, Owner agrees to pay such excess promptly. Manager shall not be obligated to advance its own funds on behalf of Owner. F. Owner authorizes Manager to institute legal action either in the name of Owner or in the name of the Manager and at Owner’s expense to enforce the collection of rent or other income for the property and to evict residents tenants for nonpayment of rent or material violation of the lease. In connection therewith, Manager may engage an attorney at Owner’s expense. G. Owner to procure insurance, listing Valley Rental Service Inc. Dakota REIT Management, LLC, as an additional insured, with the minimum coverage and limits shown on Schedule A. H. To employ and discharge and to compensate, at Owner’s expense, all employees necessary for the maintenance and operation of the property and to withhold from and remit to the proper governmental authority all legally required withholdings and to pay the Employer’s share of all payroll taxes. Alternatively, the Manager may contract for all such services with independent contractors at Owner’s expense either by requesting bids or negotiating contracts at Manager’s option. All employees will be employees of Manager. Manager will pay the employees, at Owner’s expense, making all required deductions and paying all necessary payroll taxes and premiums for Workers Compensation, unemployment compensation, etc. I. To notify Owner of any noncompliance complaints, warnings, notice or summons received by Manager related to such matters. Manager is not responsible for compliance of any buildings on the property with such requirements. J. To make emergency repairs which may be required because of danger to life or property or which are immediately necessary for the preservation and safety of the property or the safety of the residents tenants or required to avoid suspension of any necessary service to the property. K. To advertise and otherwise promote the leasing of available premises, to the extent it deems advisable. The Owner shall pay, within established budgetary guidelines, 100% of the cost of all promotional & advertising costs, including the cost of a professionally prepared brochure, if necessary. Costs to be incurred beyond the budgetary guidelines will require prior approval of the Owner.

Managers Responsibilities. The Manager shall have the following duties and responsibilities together with any other duties and responsibilities shown on Schedule A: A. To use reasonable efforts to lease available space in the property to residents. Manager may place newspaper advertising, post rental signs, prepare circulars and engage in other forms of promotion & advertising at Owner’s expense. Owner shall refer all inquiries for leases or renewals to Manager and all negotiations shall be conducted by Manager. B. To collect all rentals, security deposits and other income from the property. C. To refund resident’s security deposits as required by law and if legally required, pay interest on security deposits. To the extent permitted by law, Manager shall first apply the security deposit towards any rent, unpaid balances & damage Owner has suffered by reason of the actions of residents or resident’s guests. The application of security deposit toward damages shall be itemized and such itemization shall be delivered to resident in accordance with law. Manager, on Owner’s behalf, shall comply with all legal requirements concerning payment and withholding of security deposits. D. On a monthly basis, provide operating financial statements to the Owner’s representative as shown on Schedule A & B.A. Direct billing for accounting services will be billed above and beyond to owner. E. To pay on behalf of Owner the services and other items shown on Schedule A and deduct the amount thereof from proceeds payable to Owner. If disbursements made by Manager are in excess of receipts, Owner agrees to pay such excess promptly. Manager shall not be obligated to advance its their own funds on behalf of Owner. F. Owner authorizes Manager to institute legal action either in the name of Owner or in the name of the Manager and at Owner’s expense to enforce the collection of rent or other income for the property and to evict residents for nonpayment of rent or material violation of the lease. In connection therewith, Manager may engage an attorney at Owner’s expense. G. Owner to procure insurance, listing Valley Rental Service Inc. as an additional insured, with the minimum appropriate insurance coverage and limits shown on Schedule A.provide evidence of such coverage to Manager along with this Agreement. If not provided by Owner, Manager may procure at owner’s expense. H. To employ and discharge and to compensate, at Owner’s expense, all employees necessary for the maintenance and operation of the property and to withhold from and remit to the proper governmental authority all legally required withholdings and to pay the Employer’s share of all payroll taxes. Alternatively, the Manager may contract for all such services with independent contractors at Owner’s expense either by requesting bids or negotiating contracts at Manager’s option. All employees will be employees of Manager. Manager will pay the employees, at Owner’s expense, making all required deductions and paying all necessary payroll taxes and premiums for Workers Compensation, unemployment compensation, etc. I. To notify Owner of any noncompliance complaints, warnings, notice or summons received by Manager related to such matters. Manager is not responsible for compliance of any buildings on the property with such requirements. J. To make emergency repairs which may be required because of danger to life or property or which are immediately necessary for the preservation and safety of the property or the safety of the residents or required to avoid suspension of any necessary service to the property. K. To advertise and otherwise promote the leasing of available premises, to the extent it deems advisable. The Owner shall pay, within established budgetary guidelines, 100% of the cost of all promotional & advertising costs, including the cost of a professionally prepared brochure, if necessary. Costs to be incurred beyond the budgetary guidelines will require prior approval of the Owner.