Real Estate Park Engagement Agreement

REAL ESTATE PARK ENGAGEMENT AGREEMENT

This Engagement Agreement is entered into as of by and between:

Owner Name:    Owner Contact:

Manager/Consultant Name:    Manager Contact:

1. Property Identification

2. Engagement and Scope of Services

Owner engages Manager and Manager accepts engagement to perform the services described below at the Property for the Term established in Section 4. Manager shall perform services in a commercially reasonable manner consistent with practices in the local park management industry.

Scope of Services (select all that apply):

Property management and day-to-day operations
Leasing and marketing of lots/units
Maintenance coordination and vendor oversight
Rent collection and monthly financial reporting
Capital improvement project management
Assistance with acquisition or disposition

3. Compensation and Expenses

Management Fee: Owner shall pay Manager a management fee equal to % of gross receipts collected from the Property, payable monthly in arrears.

Leasing Commission: For each new tenancy procured by Manager, Owner shall pay a leasing commission of or % of the first month's rent, whichever is greater.

Reimbursable Expenses: Owner shall reimburse Manager for authorized out-of-pocket expenses incurred on Owner's behalf including marketing costs, vendor invoices, legal fees, and emergency repairs in excess of without prior approval. Manager shall obtain Owner approval for capital expenditures exceeding .

4. Term and Termination

Term Commencement Date: . Initial Term: months.

Termination: Either party may terminate this Agreement without cause upon days' prior written notice. Termination for cause shall be permitted for material breach if the breaching party fails to cure within 30 days following written notice of breach.

5. Owner and Manager Responsibilities

Owner Responsibilities: Owner shall maintain property insurance, fund reserves as required, authorize capital expenditures, and deliver clear title and required records. Owner remains responsible for payment of real estate taxes, utilities expressly designated as Owner responsibility, and any mortgage obligations.

Manager Responsibilities: Manager shall perform the selected scope of services, maintain books and records for the Property, provide monthly statements, and procure contracts with vendors in Manager's name or on Owner's behalf as agreed. Manager shall comply with all applicable laws and regulations in performing services.

6. Insurance, Indemnity and Bonding

Insurance: Owner shall maintain commercial property and liability insurance naming Manager as additional insured where required. Manager shall maintain general liability and errors & omissions insurance limits of not less than per occurrence.

Indemnification: Each party shall indemnify, defend and hold harmless the other from claims, liabilities, damages and expenses arising out of the indemnifying party's willful misconduct, negligence, or breach of this Agreement, except to the extent caused by the indemnitee's gross negligence or willful misconduct.

7. Disclosures

The Owner warrants the following representations as of the Effective Date. Check Yes or No for each item and provide an explanation where required.

Lead-based paint present? Yes No
Mold or water intrusion history? Yes No
Known environmental contamination? Yes No
Prior structural damage or flood history? Yes No

8. Default and Remedies

If either party materially breaches this Agreement and fails to cure within thirty (30) days after receipt of written notice, the non-breaching party may terminate the Agreement and pursue all available remedies at law or in equity. Remedies include recovery of direct damages, collection of unpaid management fees, and injunctive relief where appropriate. Neither party shall be liable for consequential or punitive damages except in cases of willful misconduct.

9. Reporting and Records

Manager will deliver financial statements and an operations report to Owner on a basis, within days after the end of the reporting period. Owner shall have reasonable access to books and records maintained by Manager related to the Property.

10. Confidentiality

Each party shall keep confidential all non-public business information disclosed by the other party in connection with this Agreement and shall not disclose such information to third parties except as required by law, with the exception of financial statements delivered to lenders or as otherwise necessary to perform the services.

11. Miscellaneous Provisions

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state where the Property is located.

Entire Agreement: This Agreement, including any exhibits or schedules attached hereto, constitutes the entire agreement between the parties and supersedes all prior agreements and understandings relating to the subject matter hereof. No amendment shall be effective unless in writing and signed by both parties.

Severability: If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

12. Notices

Notices under this Agreement shall be in writing and delivered to the addresses below by certified mail, courier, or personal delivery.

Sign Now