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HomeMy WebLinkAboutM_PMA_Executed No part of this document may be used or reproduced without the express written consent of CBRE. 2023 © CBRE. All rights reserved. Revised May 2023 1 MANAGEMENT AGREEMENT This Management Agreement (“Agreement”) is made as of June 6, 2023 (the “Effective Date”), between SP Office Funding, L.P., a Delaware limited partnership (“Owner”), and CBRE, Inc., a Delaware corporation (“Manager”), with reference to the following facts: A. Owner is the owner of the land and improvements commonly known as Office at Southport and located at 1101, 1103, 1107 and 1111 Lake Washington Blvd. North, Renton, WA 98056, containing approximately 727,946 square feet, with Tax Identification Number: 0823059216 (the “Property”). B. Manager represents that it is in the business of managing properties similar to the Property and possesses the skills and experience necessary for the efficient, professional management of the Property. C. Owner desires to engage the services of Manager in connection with managing the Property and Manager desires to provide such services to Owner. Now, therefore, in consideration of the mutual covenants and agreements contained herein, Owner and Manager agree as follows: ARTICLE I - BASIC TERMS Exhibits Exhibit A – Financial Services Agreement Exhibit B – Scope of Services Exhibit C – Schedule of Employees Exhibit D – Data Privacy Exhibit E – Project Management Services Exhibit F – Reports 1.1 Appointment. Owner hereby appoints Manager as the manager for the Property as of the Effective Date for the Term of this Agreement. Owner hereby authorizes Manager as “agent” to exercise such powers and take such actions on Owner’s behalf with respect to the Property as may be necessary for the performance of Manager's obligations under this Agreement. Manager hereby accepts such appointment on the terms and conditions hereinafter set forth. 1.2 Term. The initial term of this Agreement shall commence on the Effective Date and, unless earlier terminated as provided herein, shall continue for a period of twelve (12) months (the “Initial Term”), provided that upon the expiration of the Initial Term, the Term shall continue on a month-to-month basis until either party terminates this Agreement pursuant to Section 8.1 hereof. The date on which this Agreement expires or is terminated is referred to herein as the “Termination Date.” “Term” shall mean the period beginning on the Effective Date and ending on the Termination Date. No part of this document may be used or reproduced without the express written consent of CBRE. 2023 © CBRE. All rights reserved. Revised May 2023 26 Manager: CBRE, INC. By: Name: Kim Berg Title: Managing Director, Property Management NC.