Property Management Agreement Sample Page 9
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29ARTICLE 4
MANAGEMENT AUTHORITY
4.1 Authority. Manager's authority is expressly limited to the provisions contained
herein as they may be amended in writing from time to time in accordance with the provisions of
this Agreement. Owner expressly withholds from Manager any power or authority to make any
structural change in the Development or to make any other major alterations or additions in or to
the Development or fixtures or equipment therein, or to incur any expense chargeable to Owner
other than expenses related to exercising the express powers granted to Manager by the terms of
this Agreement without the prior written consent of Owner.
4.2 Delegation of Duties. Manager shall have the right to engage independent
contractors for performance of such of its duties hereunder as Manager deems necessary, but
Manager shall have the responsibility for supervision of the performance of such duties. All
contracts with independent contractors shall be subject to the approval of Owner.
4.3 Compliance with Law. Manager shall comply fully with all federal, state, county,
municipal and special district laws, ordinances, rules, regulations and orders relative to the
leasing, use, operation, repair and maintenance of the Development. Manager shall remedy
promptly any violation of any such law, ordinance, rule, regulation or order which comes to its
attention and shall notify Owner by the end of the next business day after Manager becomes
aware of any violation for which Owner may be subject to penalty.
4.4 Management Plan. Particular Requirements for the day-to-day management of this
Development are outlined in Exhibit B, Management Plan.
ARTICLE 5
INSURANCE AND INDEMNIFICATION
5.1 Liability of Manager. Except as expressly provided to the contrary herein, the
obligations and duties of Manager under this Agreement shall be performed as agent of Owner;
but Manager shall liable for its breaches of this Agreement and for damages and costs (including
reasonable attorney's fees) resulting from Manager's gross negligence or willful misconduct. All
expenses incurred by Manager in accordance with its obligations and duties under this
Agreement and consistent with Owner's approved operating budget, except those due to its
breaches of this Agreement or negligence or willful misconduct and those expressly specified as
Manager's expenses herein, shall be for the account of and on behalf of Owner.
5.2 Insurance. Manager shall obtain and keep in force such forms and amount of
insurance requested by Owner at the Owner's expense as necessary under the Requirements with
insurance companies satisfactory to Owner, including but not limited to insurance against
physical damage (e.g., fire and extended coverage endorsement, boiler and machinery, etc.) and
against liability for loss, damage or injury to property or persons which might arise out of the
occupancy, management, operation or maintenance of any part of the Development. Manager,
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