Property Management Agreement (Page 5 of 6) in pdf

Property Management Agreement Page 5

SECTION TEN

PARTIES BOUND

This agreement shall be binding on the parties hereto, their successors and

assigns.

SECTION ELEVEN

SECTION CAPTIONS

Section captions are for the convenience of the parties and shall not affect the

interpretation of this agreement.

SECTION TWELVE

CHOICE OF LAW

This agreement supersedes all prior agreements, written or oral, pertaining to the

subject matter hereof and contains the entire understanding of the parties. This

agreement may not be changed or modified orally, but only by written instrument signed

by duly authorized officers of the parties hereto.

SECTION THIRTEEN

EFFECT OF PARTIAL INVALIDITY

Should any section or any part of any section of this agreement be rendered void,

invalid or unenforceable for any reason by any court of law exercising competent

jurisdiction, such a determination shall not render void, invalid or unenforceable any

other section or any part of any section in this agreement.

SECTION FOURTEEN

NONLIABILITY OF AGENT

Owner shall indemnify agent against any failure to pay any charges required for

the proper operation of the apartment project, if necessary funds are not made available to

agent by owner from revenues received from the building/apartment project or are not

otherwise made available by owner.

SECTION FIFTEEN

OTHER REAL ESTATE SERVICES

Agent shall be separately compensated for special real estate services required by

owner and not included in the agreed management service contract, such as sales,

appraisals, and financing.

PROPERTY MANAGEMENT AGREEMENT-5

Property Management Agreement Page 5