Laserfiche WebLink
<br />~~~-~~_._-~.~ <br /> <br />~ - ~ -~~-----.............. <br />-~-~--~ -- - ~~-._~-"..-.-~---~-----.................--.~~-- ~ - --.- ---~-' ~---~ -~- --~~-~ <br />~_.- ~ -~--- - ~_. --~--.~ ---~---~ ----~ -~- -_._~ ----..-.--...__..~--~-~-----~~-,--.__....._- <br />- . .-..........-,----~- "'_.-.-.'--'._~ <br /> <br />supervision, comp~nsation, promotion and discharge .of such emplayees are the responsibility <br />.of the Manager. <br /> <br />2.3. Budget. On .or before sixty (60) days prior ta the end of each calendar year, and <br />a:ru1.ually 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 ma,de, including but not limited to, SUcl1 items as the numbe~ .and <br />type of employees and their salaries. Except as set forth inthe following sentence, each Property <br />budget shall, in each case, be approved in writing by Ovme! (an "Approved Budget") before the <br />, same shall became effective, and when sa appraved, no lease propasal 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 cantrary, 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 prapased budget shall be deemed to be approved, as Manager requires approval .of the <br />budget at least thirty (30) days priar to the commencement .of the next follawing.year in order to <br />meet its abligatians hereunder. <br /> <br />2.4. Bud~-et Madifications. Manager shall, at such times as it deems appropriate or as <br />Owner requests, submit to Owner for its review and approval propased madifications to the <br />Annual Budget and the Annual Leasing Plan and comparisons of the Approved Budget to <br />aperatians for the year to date. <br /> <br />.2.5. Enforcement .of Leases. Manager shall, subject to Owner's priar written consent <br />and in the name Of and . at the expense of Owner, institute any and all legal actions or <br />proceedfugs necessary for the collection of rent or other income from the Premises or to remave <br />any unauthorized tenant or. person from the Premises. Manager shall have the authority, <br />\l\Tithaut Owner's prior Vv-ritten appraval except as hereinafter provided, to enforce all leases, <br />including, withaut limitation, the sending .of default notices, provided that Manager shall obtam <br />the approval of Owner prior ta ihstituting any legal action, and prior ta terminating any lease <br />and repart to Ov,rner, 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 Capital Improvements. Manager shall use its <br />commercially reasonable efforts ta 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 maintam and operate each Property. The <br />Appraved Budgets shall constitute an authorization far Manager to expend monies for repairs, <br />maintenance arid capital improvements prajects as pravided therein. All repairs, maintenanceand capital improvement projects ~ excess of the funds allacated therefar in the Approved <br />Budget shall be contracted by Manager .only after seCUIing Owner's approval, except (i) i.vith <br />regard to emergency maintenance or repairs which shall be handled in the commercially <br />reasanable discretion of Manager, (li) with regard to the provision of essential services to the <br /> <br />-2- <br /> <br />P3 <br />