Agreement Between Property Owners

K. Compliance with insurance legislation and requirements. On behalf of the owner, the administrator obtains and obtains all licenses and authorizations required by the property and induces him to comply with all laws, regulations, codes and regulations relating to the ownership, operation, use and occupation of the property (together “legal requirements”) and all requirements applicable to the insurance company (“insurance requirements”), for which the administrator has received a written notification , to accomplish. All these licenses and authorizations are requested and issued in the owner`s name. The administrator must exercise due diligence and diligence to ensure that tenants comply with all applicable legal requirements (including, but not exclusively, all hazardous waste laws that may affect property) and insurance requirements. The administrator must collect from all tenants, in a timely manner, all insurance certificates or other insurance documents required in all rental contracts and certify that these certificates comply with the rental agreement in question, including, but not only, the additional insured required. The administrator will provide the owner with all notifications of offences committed by government authorities or insurance companies regarding the property (or part of it) upon receipt and, if the owner consents, the administrator will challenge these infringements or coordinate and supervise all work to be done to remedy these violations. In this provision, the administrator agrees to ensure that the property complies with all local laws. Depending on the nature and use of the building – for example.

B of a production site – Violations of the law can result in significant fines and penalties (e.g. B for waste management). The manager should understand his obligations here and, if possible, limit his liability. 6. Representations and guarantees. Both parties state that they have full authority to conclude this agreement. The performance and obligations of one of the contracting parties do not infringe or infringe the rights of third parties or violate other agreements between the parties, individually, and any other person, organization or company, or any other law or administrative regulation. C. Rent collection; Withdrawals. To the extent that the manager does receive payments from tenants of rent, additional rent, surety (except in the amount shown below) or other income, the manager sends these funds by mail (or any other method ordered by the landlord) to a separate operating account with [INSERT NAME OF BANK] controlled by the manager under the name [NAME INSERT].

, as an agent for the owners (the “operating account”) or a Lockbox account to the extent that the manager has been warned that there is a mortgage on the property that requires the creation of such an account.