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<br />supervision, compensation, promotion and discharge of such employees are the responsibility <br />of the Manager. <br /> <br />2.3. Budi'et. On or before sixty (60) days prior to the end of each calendar year, and <br />annually thereafter, Manager shall submit to Owner a proposed budget on Owner's form of <br />proposed expenditures for the following fiscal year for each property showing all items for <br />which expenditure shall be made, including but not limited to, such items as the number and <br />type of employees and their salaries. Except as set forth in the following sentence, each Property <br />budget shall, in each case, be approved in writing by Owner (an "Approved Budget") before the <br />same shall become effective, and when so approved, no lease proposal at less than the rate <br />specified in such schedule shall be made by Manager except with the prior written consent of <br />Owner. Notwithstanding the foregoing to the contrary, if Owner fails to object or otherwise <br />respond in writing within thirty (30) days after receipt of a proposed budget from Manager, <br />such proposed budget shall be deemed to be approved, as Manager requires approval of the <br />budget at least thirty (30) days prior to the commencement of the next following year in order to <br />meet its obligations hereunder. <br /> <br />2.4. Budget Modifications. Manager shalt at such times as it deems appropriate or as <br />Qwner requests, submit to Owner for its review and approval proposed modifications to the <br />Annual Budget and the Annual Leasing Plan and comparisons of the Approved Budget to <br />operations for the year to date. <br /> <br />2.5. Enforcement of Leases. Manager shall, subject to Owner's prior written consent <br />and in the name of and at the expense of Owner, institute any and all legal actions or <br />proceedings necessary for the collection of rent or other income from the Premises or to remove <br />any unauthorized tenant or person from the Premises. Manager shall have the authority, <br />without Owner's prior written approval except as hereinafter provided, to enforce all leases, <br />including, without limitation, the sending of default notices, provided that Manager shall obtain <br />the approval of Owner prior to instituting any legal action, and prior to terminating any lease <br />and report to Owner, on a monthly basis, any lease delinquency. Manager shall submit to <br />Owner promptly upon receipt any notice of landlord default received from any tenant. <br /> <br />2.6. Repairs, Maintenance and r:;::a;Rital ImJ?rovements. Manager shall use its <br />commercially reasonable efforts to keep each Property in good order and repair, and shall <br />purchase or arrange for the purchase of all inventories, provisions, supplies and operating <br />equipment which are reasonably necessary to maintain and operate each Property. The <br />Approved Budgets shall constitute an authorization for Manager to expend monies for repairs, <br />maintenance and capital improvements projects as provided therein. All repairs, maintenance <br />and capital improvement projects in excess of the funds allocated therefor in the Approved <br />Budget shall be contracted by Manager only after securing Owner's approval, except (i) with <br />regard to emergency maintenance or repairs which shall be handled in the commercially <br />reasonable discretion of Manager, (ii) with regard to the provision of essential services to the <br /> <br />-2- <br /> <br />-28- <br />