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<br />" <br />::'--~~:.-.' ----_:'. --"-~'#"" ~-~.=-:~-~~ - ," ~ - ---.~-...-_..-_-~----~ ~~---~~~._--~~~- <br />-~~-- ~-~ ~~ -- ..-..---~~--~-~ ~ -~~--~-~~~ ~~-=-=-- -:..:_---=---~-==- -- ~=-. <br /> <br />:~.-;:~-~_:....- <br /> <br />.~ ,'-'.- ..~._...- -,'- -,- .. -'~-' ~. - ~"'~"'"""." <br /> <br />MANAGEMENT AGREEMENT <br /> <br />. 3 ~1l1 -- <br />AGREEMENT made as of the _ _ day of July, 2006, by and between the City of <br />Ramsey, a 11innesota Municipal' Corporation ("Owner") and Premier Commercial Properties, <br />Inc., a Minnesota Corporation ("Manager"). <br /> <br />RECITALS <br /> <br />WHEREAS, Owner is the holder of fee simple title to each of the properties described on <br />Exhibit A attached hereto and incorporated herein (such properties being individually referred <br />to as "Property" and collectively referred to as "Properties"), and desires to engage Manager to <br />manage and operate the same; and . <br /> <br />WHEREAS, Manager desires to manage and operate the Properties for and on behali of Owner <br />on the terms, and subject to the conditions hereinafter set forth. <br /> <br />IN CONSIDERATION of.the mutual prom.iSes and covenants contained herein, Owner and <br />Manager agree as follows: <br /> <br />ARTICLE 1. <br /> <br />APPOINTMENT; PROPERTIES <br /> <br />1.1. Appointment. Owner hereby designates and appoints Manager to act as the <br />managing agent with respect to. each Property iden,tified on Exhibit A hereto, and hereby <br />delegates to theManag~r the power, authority and responsibility hereinafter described. <br /> <br />1,2. Identification of Properties. The list of Properties may be amended at'any time' <br />during the continuance - of this agreement for the purpose of including additional Properties <br />within the Agreement upon the vvritter: c~nsent of Owner and Manager. <br /> <br />ARTICLE II. <br /> <br />MANAGEMENT;BUDGET . <br /> <br />2.1. Management. Manager shall use its best efforts to manage the Premises in a <br />, commercially reasonable manner and collect the rents and other income ~erefrom in a timely <br />manner. <br /> <br />2.2. Employees. The Manager shall cause to be emplo:ye~ at'all times a ,sufficient <br />number of capable employees to properly, adequately, safely and econornicallyu:anage, <br />operate, maintainl and account for each Property. All matters pertaining to .the employment, <br /> <br />. P2 <br /> <br />;}. '. :::'~~:' r. <br />