HomeMy WebLinkAbout71FEB-10-2000 13:39 FROM UNICO PROPERTIES, RENTONN TO 4307300 P.14
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(a) Worker's Compensation - statutory amount;
(b) Employer's Liability - minimum of 5500,000 each accident; $500,000 disease,
policy limit; 5500,000 disease, per employee;
(c) Broad Form Commercial General Liability (naming Owner and Manager as
additional insureds) - $1,000,000 per occurrence Ccmbined Single Limit; $2,000,000 aggregate (i.e., such
insurance shall be broad form and shall include contractual liability, personal injury protection and completed
operations coverage);
(d) Auto Liability (if deemed appropriate by Manager) - $1,000,000 minimum; and
(e) Property Insurance coverage for tools and equipment brought onto and/or used on
any Property by the contractor - an amount equal to the replacement costs of all such tools and equipment.
Manager must obtain the Owner's prior permission to waive any of the above requirements.
Manager shall obtain and keep on file a certificate of insurance which shows that the contractor is so insured.
ARTICLE 7. FINANCIAL REPORTING AND RECORDKEEPING
7.1 Books of Accoun .Manager, in the conduct of its responsibilities to Owner, shall maintain
adequate and separate complete books and records for each Property, the entries to which shall be supported
by sufficient documentation to ascertain that said entries fire properly and accurately recorded to each
Property. Such books and records sha'I be maintained by Manager at Manager's corporate office, or at such
other location as may be mutually agreed upon in writing.
7.2 Account Classification. Manager shall utilize its chart of accounts for each Property, unless
specified otherwise by Owner.
7.3 Financial Reports. Manager shall furnish summary reports, in forrn acceptable to Owner, of
all transactions occurring from the first day of the prescribed monthly accounting period to the last day of the
prescribed monthly accounting period. "these reports are to be delivered to Owner within 10 days after the
end of the above descril'^d accounting period and should show all coliectiw, delinquencies, uncollectible
items, and other marrets pertaining to the management, operations, and maintenance of each Property during
the prescribed monthly accounting period. In addition, Manager upon Owner's written request from time to
time, shall prepare such reports as Owner may require or desire; provided, however, that if such reports
impose significant cost or effort on Manager, Owner shall reimburse Manager for such reports.
Manager shall provide Owner not less than monthly, or as required under any financing agreements,
an "Asset Management Report" reviewing the status of capital expenditures, tenant imprcv:ments, leasing
activities, operations, pending litigation, and other matters as reasonably requested by Owner.
7.4 SunnorrinaDocumentation. As additional support to the monthly financial statement,
Manager shall kce�, and make available to Owner upon its request:
(a) All bank statements, bank deposit slips and bank reconciliations,
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