HomeMy WebLinkAbout07- Buckner Management Agreement
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MANAGEMENT AGREEMENT
IN CONSlDERATlON of the covenants herein, cf/~ ~. hereinafter designated as Owner. agrees
to employ MANAGEMENT ~SOC/ATES. INC. hlere/natter esignaled S. ant I rent, 1 se, operate and manage the tori owing
rea, pro;lerti s: ..,..~I 'f4) , Ii , commencing
1:.:2 '. , and continuing on a month to month basis thereafter, subject to thirty days written notice of
ir.tent ,0 t ,minat by either party, up!>n the following TERM.S AND CONDITIONS:
AGENT'S AUTHORITIES AND OBUGATJONS
Owner ~ereby conters upon Agent the following authorities and obligation:
1 To advertise, on owner's behalf. the availability for rent. To screen and use ditigence in the selection of prospective
tenants and 10 abIde by aU fair housing l3\...s.
To execute leases and rental agreements 0:1 behalf of Owner
To collect rents. security deposits, and all other receipts and to deposit such moneys In a qualified trust account. Trust
account :nterest, I",t~ feee and NSF penally collections ane retained by Management Associates. Ine. ~~It.. J&I&~ S ~ 8'
To serve notice of lermination of tenancies, notices to quit or pay rent and such other notices as approj:riate. S/J'~I r S"D/$"41
To InsUture legal action on behalf of Owner for the purj:ose of enforcing rights under leases and rental agreements. 6€rlJii:.ICIlI
To prO'lide'all services reasona.bly necessary for the-proper management of the property including periodic inspections.~".J ~ ~
supervision of maintenance, and arranginG fOi such improvements, alterations and repairs as may be reqUired'@{f;
Management Associates. acting as agent on behalf of the owner, to hine, supervise and discharge all employees and J:25. .
inde;:>endent contractors required in the operation and maintenance of the property, It is agreed that all such employee
are employees of the o'vner and not of the Agent.
To contract .for repairs or alterations at a cost to Owner not to exceed $250.00 un~ authorized.
In the event Owner is not available for consultation. 10 contract for such repairs and expenditures as are necessary for
the protection of the property from damage, or to perform services 10 the tenants provided for In their leases.
To execute service contracts for utilities and services for the operation, maintenance, and safely of the .Jroperty as Agent
deems necessary or advisable.
To maintain accurate records of ail money neceived and disbursed in oonnectlon with management of the property. Said
records shall be open for inspection by Owner during regular business hours and upon reasonable notice.
To submit monthly slalelTlEnts of all receLpts an~ disbursements on the 10lh day of \he month.
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OWNER'S OBUGATlONS .
Owner agrees 10 pay to Agent fees fer services rendered at the rates hereinafter set forth. Such compensation is due and payable
on cemal1d and may be deducted by the Agent from receipts.
COMPENSATION: Set up fee: $ aJ~d..-
Percentage of gross monthly rents:
5%
Own!'tr shall indemnify and save the Agent harmless fr9m any and all COSls. expenses, attorney's fees, suils,liab:lities, damages from
0, connected v,;lh the management of the t'roperty by Asent, or the performance or exercise of any of the duties. obligations, powers
0, au:horilies herein or hereafler granted to Agent.
Owner shall not hold Agentilable for any error of Judgmen'. or for any mlstalte of fact or Jaw. or for anything which Agent ma,' do or
refraj.~ from doing hereinafter. except in cases of willful misconduct or gross negligence.
Owner shall immediately furnish Agentwlth a certificate of insurance evidencing that the above properties' coverage is in force wllh a
carrier acceptable to Agent. In the event Agent receives notice that said inslJrance coverage is to be canceled. Agent shall have the
o~lion to immediately cancElI this agreement.
Owner assumes full responsibility for the payment of any el!penses and obli,allons incurred In connection with the exercise of
Agent's duties set forth in this agreement. ~>>
Owner shall deposit and agrees to maintain with Agent~s an operatlng reserve and i\o;m cover any excess of expenses over
income within len days of any request ~y Agent. The Agent may terminate this agreement Immediately if the request for additional
funds is net paid. Owner understands that it Is...!:!21 Agent's obligation to advance its own funds for payment of Owner's operating
expenses.
Owner agrees to pay an early termination lee for canceling management contract within six months of starting date. Early termination
fee is equlvalenl to three months management fee.
OTHER TERMS
AU notices required 10 be given hereunder shall be In writing and mallad to Ihe parties hereto at the addresses set forth belew In the
event of any legal action by the parties arising out of this agreement. the prevailing party shall be entiUed to reasonable attorney's fees and
costs. tObedeterminec by the court In which such action Is brought. . f/J!/~3~ 76',5 ~'3~
NET PROCE:::DS TO BE SENT: IF DIRECT DEPOSIT, SANK ACCT # tt .:/
OWNER TO PAY THE FOLLOWING UTILITIeS: IU\ c
PETS ALLOWED: ""'c N ~
Mana~emBnl Associales, IlK.
612 Fer!lusCln. Suile 6
BonlNn, Monlana Sll1l1
405 SS6o&5GD
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Agent accepts the employment under the terms hereof and agrees to use diligence In the e
author.llies and powers conferred herein upon Agent.
OWNER(II
Phone SlG JURE S'f?I-O~:::-
SSAH S:Jl -3~- ,\,ftr
Address I. r ~ n-..II i tW' J J4,;. <
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Oate
'OUI "OOSS\7' luewe6euel/lJ
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CITY OF BOZEMAN
Bozeman, Montana
UTILITY WAIVER
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Date:: Sent
Property<>-: dCl/l'l6 ~L\L~
Mailing Address: ~T '5'1-r-; 'g ?;;
Home TeIcpIume: ;r< ',L Wmk ToIepboQe: ~ ~stv
Property Address: ~~ Acct N:
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The Undersignecl, . ~. ' JVpments that J am an owner
of real property located in the City of Bozeman. Montana C'City"), and said property is
provided with mW1icipal faciJ ities fOT the supply of water. and disposal of sewage and solid
waste.
The referenced real property is subject to a lease on certain tenD3 and conditions,
including provision for payment for municipal facilities and services.
The City consmm to the assumption by the undersigned's Lessee of the tenDs and
abUptions for provision of the supply of water, and dJsposa1 of 8eWSSe and solid waste,
including the obJiption for payment for said ~ but does not release and continues to
hold fully liable the undersigned on those terms and obliptioas.
The undersisned agteIll&, in CObSide.ratioa of City's ~D3II1t to the assumption by
Lessee of the above otACribed terms and obligations, that ] will not make any objection of
illegality or irregularity IS 10 transmiUal ofall statementa of account for the provision of the
above described services to the Lessee. and [ Jequest that said statements. be delivered
din:ctly to the J...essee or occupant oCtbe: property rather than to my personal ~sidence or
mailing addRSS.
1/ID/oC.
Property Owner Signature Date
~ L~tl tV11rnMt ~
Slrl:lllC .Mdna. 411 I::R N.1I Street
Millin!: IICIctca: JI O. Iklll' ~
eozm-. llInntlllll }'I77t-Oll4l1
'!me: (C/Ji)5C.iJOO
FIll! C 4OG) jl2-2JtJ
TOO: {4Ofi)SU-2301
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'OUI "OOSS\f luawa6euell'J dOg: ~O LO O~ uer