HomeMy WebLinkAbout68FEB-10-2000 13:37 FROM UNICO PROPERTIES, RENTONN TO / 4307300 P.11
4.11 Taxes MorteaQes. Manager shall, if requested by Owner in writing, obtain, verify and pay
bills for real estate and personal property taxes, improvement assessments and other like charges which are or
may become liens against each Property from the Operating Account, ai hereinafter defined. Manager shall
use reasonable efforts to reduce taxes and assessments attributable to, or payable for, the Property. Manager
shall forward, within two (2) business days after receipt thereof a copy of such bills to Owner such that
Owner may approve Managers payment of such hill and, unless such bills are being contested, Manager shall
use its best efforts to pay all such bills before any fine or penalty attaches or to permit Owner to take
advantage of any discounts. If requested by Owner in writing, Manage! shall make payments from the
Operating Account an account of any ground lease, mortgage, deed of taut or other security instrument, if
.rry, affecting any Property. If any tenants are required to pay real estare taxes and assessments directly to the
taxing authority, Manager shall obtain copies of both the invoices and evidence of payment prior to
delinquency and f award them to Owner within five (5) business days of receipt.
4.!2 Advances. Maruger shall not be obligated to make any advance to or for the account of the
Owner or to pay any sum except out of funds held or provided as set forth in this Agreement, nor shall
Manager be obliged to incur any liability or obligation for the account of the Owner without assurance that
the necessary funds for the discharge thereof will be provided.
ART _
ICLE 5.LE.ASIN RRESPONSIBILITIES
5.1 Leasin . Owner hereby designates Manager as its exclusive broker for leasing of space in
the Property. During the. term of this Agreement Owner a__,rees to refer to Manager all offers and inq'.riries
by prospective tenants or by cooperating third party brokers not aff:iated with Manager for space in the
Property, and each of them, and Manager agrees to diligently investigate and develop such offers or inquiries,
to canvas, solicit and otherwse employ its best efforts and services to lease space in the Property. Manager
shall make every reasonable effort to obtain and keep tenants reasonably satisfactory to Owner for each
Property. Manager shall, so far as reasonably possible, procure financial references from prospective tenants,
investigate such references, and use its best judgment in the selection of prospective tenants. Manager agrees
to perform whatever reasonable service may be required in connection with the negotiation of leases or
renewals, extensions, modifications, or cjncellations thereof. Owner and Manager acknowledge and agree
that it is in the best interests of Owner and the Property for the Manager to maintain continuity in the leasing
plan for each Property, and therefore, Owner authorizes Manager actively to solicit, accept and pursue
subleasing assignments for tenants, notwithstanding the fact that such subleasing assignments may compete
with the negotiation and execution of lases, for space in the Property.
5.2 Execution of Leases. All leases and lease renewals, extensions and modifications are to be
prepared by Manager, with the assistance of legal counsel approved by Owner in writing, in accordance with
the leasing guidelines (including allowances for tenant improvements) established by Owner with respect to
each Property covered by this Agreement ("Leasing Guideline,") and submitted to Owner for approval and
execution. Manager shall advise Owner an a timely basis of proposed lease terms that vary materially from
the Leasing Guidelines.
5.3 Lease _Form s. All new tenant leases shall be on t.'te form p'arovided or approved in writing by
Owner, with such modifications and additions to (including riders) or deletions from said form as are
reasonably necessary to conclude the transaction and are customary in the market where the applicable
Property is located and are approved by any lender having a right of approval under applicable documents, so
long as, in the opinion of Owners legal counsel, such modifications, additions or deletions do not
significantly affect Ow tiers rights and obligations under the lease, do not adversely affect Owner's property