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<br />. <br /> <br />. <br /> <br />. <br /> <br />" <br /> <br /> <br />PREMIER <br />COMMERCIAL <br />PROPERTIES <br /> <br />.r,t Real Estate Services Company <br />.6131 Highway 10 NW <br />Ramsey, MN 55303 <br />. 763. 862. 2005 Office <br />763. 862. 1925 Fax <br /> <br />PROPERTY MANAGEMENT AGREEMENT <br /> <br />This Agreement is made and entered into this day of , 20 06 between <br />City of Ramse" (Owner) and Premier Commercial Properties, Inc. (Manager). . <br /> <br />Owner employs the services of Manager to manage, operate, control, rent and lease the following <br />described property: 6701 Hi~hwax 10 NE Ramsev, Minnesota 55303. <br /> <br />Responsibilities of Manager: Owner hereby appoints Manager as his lawful agent and attorney- <br />in~fact with full authority to do any and all lawful things necessary for the fulfillment of this <br />Agreement, including the following: <br /> <br />A. Collection and Disbursement. Manager agrees to collect all rents as they become due; to <br />render to Owner a monthly accounting of rents received and expenses paid; and to remit to <br />Owner all income, less any sums paid out. . Manager agrees to collect the rents from the tenant <br />and to disburse funds by ordinary mail or as instructed by the Owner on or before the 10th day of <br />the current month, provided, however, that the rent.has be.en received from the tenant.': . <br /> <br />B. Maintenance and Labor. Manager agrees to decorate, to maintain, and to repair the property <br />and to hire and to supervise all employees / sub-contractors and/or other needed labor. <br /> <br />C. Advertisement and Legal Proceedings. Manager agrees to advertise for tenants, screen <br />tenants and work with Owner to select tenants of suitable credit JVorthiness. Manager will set <br />rents that in the opinion of the Manager at the time of the rent negotiations with the tenant, <br />reflect the market conditions of that time and approximate rents of comparable rental properties, <br />unless expressly instructed in writing by the Owner to the Manager to the contrary, as to the <br />amount of the initial rent and any subsequent increases as may from time to time be appropriate. <br />Manager agrees to rent and to lease the property; to sign, renew and to cancel rental agreements <br />and leases for the property or any part thereof; to sue and recover far rent and for loss or damage <br />to any part of the property and/or furnishings thereof; and, when expedient, to compromise, settle <br />and release any such legal proceedings or lawsuits. <br /> <br />Liability of'Manager. Owner hereby agrees to hold Manager harmless from, and to defend <br />Manager against,. any and all claims, charges, debts, demands and lawsuits. Owner agrees to pay <br />Manager's attorney's fees related to Manager's management of the herein"described property and <br /> <br />-20- . <br /> <br />-532- <br />