Property Management Interior Common Spaces Form

PROPERTY MANAGEMENT - INTERIOR COMMON SPACES FORM

Parties and Recitals

This Property Management Interior Common Spaces Form (the "Agreement") is entered into by:

Property Manager:   Company:

Property Owner:   Contact:

Property Address:

WHEREAS, the Property Owner oversees the subject property described above and requires management and maintenance of interior common spaces; and

WHEREAS, the Property Manager has the experience, personnel, and resources necessary to perform the services set forth herein for the care, repair, cleaning, safety checks, and administration of interior common spaces; and

WHEREAS, the parties desire to set forth the scope, payment terms, and administrative provisions governing the performance of services for interior common areas of the Property.

Scope of Work

The Property Manager shall perform the tasks described below with respect to interior common spaces at the Property. These services shall include, at minimum, routine cleaning, trash removal, lighting inspection and replacement, flooring and finish maintenance, elevator/common mechanical coordination, custodial supervision, and documentation of inspections and repairs.

Inspection Checklist — Interior Common Spaces

For each listed space, mark condition and provide short notes where appropriate.

Payment Terms

Management Fee Amount:   Currency:

Payment Schedule: Monthly Quarterly Per Inspection/Invoice   Due Day:

Late Payment Fee: % of overdue amount   or Flat Fee:

Term and Termination

Term Start Date:   Term End Date:

Either party may terminate this Agreement for convenience upon written notice to the other party delivered not less than days prior to the effective termination date.

Confidentiality

Each party acknowledges that during the term of this Agreement, it may receive Confidential Information from the other party. "Confidential Information" includes, without limitation, financial records, tenant lists, security protocols, inspection reports, pricing, and any non-public operational procedures. The receiving party shall:

1. Use Confidential Information solely to perform its obligations under this Agreement;
2. Limit disclosure to employees, contractors, or agents who have a need to know and who are bound by confidentiality obligations at least as protective as those herein; and
3. Take commercially reasonable measures to protect Confidential Information from unauthorized disclosure.

Confidential information does not include information that is or becomes public through no fault of the receiving party, is rightfully received from a third party without restriction, or is independently developed without reference to the disclosed materials.

Acknowledgement of Confidentiality: The undersigned acknowledge and will comply with the confidentiality obligations set forth above.

Insurance and Liability

The Property Manager shall maintain commercially reasonable general liability and property insurance covering its services under this Agreement. The Property Manager shall not be responsible for pre-existing conditions or defects not caused by Manager's negligence. To the extent permitted by law, the Manager's liability for any claim arising out of performance of this Agreement shall be limited to direct damages up to the greater of the annual management fees paid under this Agreement or the amount recoverable under Manager's applicable insurance policies.

Governing Law and Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to conflict of law principles. Any dispute arising out of or relating to this Agreement shall be resolved by binding arbitration if the parties mutually agree, or otherwise by a court of competent jurisdiction in the governing state.

Entire Agreement

This Agreement, including all attachments and referenced schedules, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations, and understandings, whether written or oral. Any amendment to this Agreement must be in writing and signed by authorized representatives of both parties.

Responsibilities and Contacts

Recordkeeping and Reporting

The Property Manager shall maintain contemporaneous records of inspections, maintenance activities, work orders, invoices, and communications related to interior common spaces. Such records shall be provided to the Owner upon reasonable request and retained for a period not less than three (3) years.

By signing below, each party certifies that the information provided in this Form is true and correct to the best of its knowledge and that each party is authorized to enter into this Agreement and to bind the entity identified above.

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