OWNER REPRESENTS. The Owner hereby represents and warrants to Broker and Manager that Owner is the sole Owner in fee simple title to the property or is fully authorized to enter into this agreement as a binding enforceable agreement of the Owner’s property. Owner has full right, power and authority to engage and appoint Broker and Manager for the purposes and consideration set forth herein and to enter into this agreement. Owner represents that the property is not currently the subject to any outstanding contract for sale, option to purchase, contract for deed, nor any other contractual obligation which would conflict with, preclude or prohibit Manager or Broker from discharging their duties described herein. Owner further warrants there is no default by Owner with respect to any promissory note secured by a lien against the property, and the property is not currently under foreclosure nor has Owner received any notice threatening foreclosure or acceleration of any mortgage note or other obligation secured by the property. Owner shall furnish Broker and Manager copies of all notices of default, threatened acceleration, or foreclosure of a lien secured by the property. Owner has no knowledge of any environmental hazards related to the property. SAVE HARMLESS AND INDEMNITY: Owner agrees to indemnify Broker, Management Company, their agents, independent contractors and employees, from all claims, suits and charges that may arise out of this agreement due to the misrepresentation or negligence of the Owner and to carry public liability insurance. Owner agrees to provide Management Company with proof of insurance and a copy of the declaration page. Owner further agrees to have Management Company listed with insurance carrier as a certificate holder. Owner agrees to indemnify Management Company and/or Broker for any damages suffered as a result of any lapse in or failure by Owner to maintain adequate insurance coverage. Owner shall bear all risks or damage and lost income due to actions or inactions of tenant. Management Company’s liability for all acts shall be limited to a sum equal to the management fees earned by Management Company during the term of this agreement. Owner agrees that Management Company is in no way responsible for nonpayment of or theft of any utility service by tenant(s). In the event the property is subject to the rules and/or regulations of a homeowners/condominium association, the Owner shall be responsible for providing and updating Management Company with all current rules and regulations and in the event tenant fails to comply with the rules and/or regulation, and the association levies fines against Owner, Owner agrees that Management Company and Broker are in no way liable for the payment of said fines, fees or assessments.
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OWNER REPRESENTS. The Owner hereby represents and warrants to Broker and Manager that Owner is the sole Owner in fee simple title to the property or is fully authorized to enter into this agreement as a binding enforceable agreement of the Owner’s property. Owner has full right, power and authority to engage and appoint Broker ▇▇▇▇▇▇ and Manager for the purposes and consideration set forth herein and to enter into this agreement. Owner represents that the property is not currently the subject to any outstanding contract for sale, option to purchase, contract for deed, nor any other contractual obligation which would conflict with, preclude or prohibit Manager or Broker from discharging their duties described herein. Owner further warrants there is no default by Owner with respect to any promissory note secured by a lien against the property, and the property is not currently under foreclosure nor has Owner received any notice threatening foreclosure or acceleration of any mortgage note or other obligation secured by the property. Owner shall furnish Broker and Manager copies of all notices of default, threatened acceleration, or foreclosure of a lien secured by the property. Owner has no knowledge of any environmental hazards related to the property. SAVE HARMLESS AND INDEMNITY: Owner agrees to indemnify Broker, Management Company, their agents, independent contractors and employees, from all claims, suits and charges that may arise out of this agreement due to the misrepresentation or negligence of the Owner and to carry public liability insurance. Owner agrees to provide Management Company with proof of insurance and a copy of the declaration page. Owner further agrees to have Management Company listed with insurance carrier as a certificate holder. Owner agrees to indemnify Management Company and/or Broker for any damages suffered as a result of any lapse in or failure by Owner to maintain adequate insurance coverage. Owner shall bear all risks or damage and lost income due to actions or inactions of tenant. Management Company’s liability for all acts shall be limited to a sum equal to the management fees earned by Management Company during the term of this agreement. Owner agrees that Management Company is in no way responsible for nonpayment of or theft of any utility service by tenant(s). In the event the property is subject to the rules and/or regulations of a homeowners/condominium association, the Owner shall be responsible for providing and updating Management Company with all current rules and regulations and in the event tenant fails to comply with the rules and/or regulation, and the association levies fines against Owner, Owner agrees that Management Company and Broker are in no way liable for the payment of said fines, fees or assessments.
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