HomeMy WebLinkAbout66„� FROM UNICO PROPERTIES. RENTONN TO 4307300 P.09
FEB-10 2000
Underwriters or ether similar body, if any ("Legal Requirements"), manager, to the extent permitted
ring Budget and, when not so permitted, following auttroriution from
under the Approved Opera r irements which comes to its
Owner, stall p'ornPtly remedy any ents
violation of any such Legal Req”
contesling or intends to contest such written not notice
attention except m cas.where tiionn in which case Owne shalt give Manager Prompt er shall, within
which come to Manager
where Owner directs Otherwise.
of any violation or notice of alleged violation of Legal
t its decision to says. give notice tosOwneS rate with each other to cause the Property
Re it business days, g a er a e to coupe
n cOmPfiance with all applicable Legal Requirements and shall not Icrtany such
Requirements. Owner and Mang � which is prohibited by any
operated at all times suffer, permit or make any use of the Property
directly or indirectly,
Legal Requirements. cements, covenants, conditions and
(b) The Property is currently subject to the ogre and ordinances listed in
cs, easements, the "Property
mortgages,
well as to all existing leases (hereinafter collectively
restrictions contained in those certain deeds, erforrrt all of the obligations
Schedule C attached hereto as es to rise its best efforts top er shall use
Agreemens" ). Manager covenants and ogre e Agreements. a,,, Maytag
Of Owner to be performed under the Prop rtY . ound lease, space
and duties on the Part comply with all terms and conditions contained to any provided that
its best effom to fully or other security instruments affecting each Pr°pe er hat Merger
lease, mortgage, deed of trustprovided,
further
Manager has been advised by Owner of the existence thereof, anaabl"ty on account hereof. All
or incur anyAgreements
shall not be required to make any payment a agencies,
or other parties to the property
with any lenders, govemm g writingby
communications i
steal] be through the Owner unless otherwise specificzlly directed in
violations of any Legal Requirements or Property
(c) Expenses incurred in remedying as hereinafter defined. When funds in excess
Agreernenv may be paid fear., the Operating Account
operating Account are required
or no fy Owner by tthne for which
e end of the
of the amount on deposit in The bOper�ec o penalty, Manager the violation.
the Property title holder mightsubject
TOPmay be made to remedy
next business day so that prompt arrangements
er shall prepare and submit to Owner a
eratian, repair, improvement and
4.5 A roved Bud el and Business Plan. Manager tan shall be
proposed Operating Budget and Business Plan for the leasing Promotion, pp posed budget and plan
for the forthcoming calendar Year-
maintenance of each Property 1 of each calendar year or, with respect to a newly added Property
Cr0 days after the addition of a Property to Schedule A.
delivered to Owner no later than October
to Schedule A, no later than sixty' ( ) Y d then will consult with Manager prior to the
used budget. and pion an roved Operating Budget" and
Owner will consider the proposed n order to agree on an "APP operating Budget or
calendar yeardisapproval for the propped Op g
commencement of the forthcoming oval or to Owner, such budget
"Approved Business Plan". If written approval
er within thirty Go) days of itsroovederY Business plan. Manager
Business Plan has not been received by M agpperating Budget and APP
and plan shall be deemed to be the Approvedensure that the actual costs of maintaining and
all reasonable effQ tOpeing Budget pertaining thereto. During ng
agrees to use diligence and to hall not exoceed the total Approvedor as required under any
operafutg each property Owner not less than monthly,
Owner, of increases in costs and expenses that were not foreseen
calendar year, Manager shall inform of more
agreements or as reasonably requested by approval shall be required for increases
during the budget preparation period. Owner's prior written
than 5% for any budgeted line item.