Property Management Agreement (Page 2 of 2) in pdf

Property Management Agreement Page 2

disbursements statement monthly. In the event the disbursements shall be in

excess of the rents collected by the AGENT, the OWNER hereby agrees to pay

such excess promptly upon request of the AGENT. Such excess not paid within

thirty (30) days shall be subject to an interest charge of 10% per annum.

Discharging its responsibilities under paragraph 2 of this agreement, the AGENT

agrees to secure the prior approval of the OWNER on all expenditures in the excess of

_____________________ Dollars ($_________) for any item, except if, in the opinion of the

AGENT, such repairs are necessary to protect the Property from damage or maintain services to

the tenant(s) as called for in their lease.

It is agreed that AGENT shall be paid seven percent (7%) of the gross monthly

income.

The OWNER agrees to save the AGENT harmless from all damage suits in connection with the

management of the Property.

This agreement shall be binding upon the successors and assigns of the AGENT

and the heirs, administrators, executors, successors and assigns of the OWNER.

IN WITNESS WHEREOF, the parties have affixed or caused to be affixed their

respective signatures, this __________ day of _______________________, 2009.

_________________________________

____________________________________

Reserve Realty Management

Owner(s)

____________________________________

Home Telephone

Day Telephone

Property Management Agreement Page 2