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VISTA DEL RIO PARTNERS, L.P.
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VISTA DEL RIO PARTNERS, L.P.
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Last modified
1/29/2015 11:14:02 AM
Creation date
1/28/2015 5:32:39 PM
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Contracts
Company Name
VISTA DEL RIO PARTNERS, L.P.
Contract #
A-2009-214
Agency
Community Development
Council Approval Date
7/20/2009
Destruction Year
0
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12. In the event that Agent must arrange for emergency repairs involving <br />manifest danger to persons or Property or make payments required to <br />avoid suspension of any necessary service to the Property, the Agent will <br />inform the Owner of the facts as promptly as possible. <br />C. Expiration or Termination of Term <br />In the event that the Owner or Agent terminate the Management Agreement the <br />Agent shall vacate and relinquish control of the Property to Owner and transfer all <br />the books and records in possession or control of Agent pertaining to the <br />management and operation of the Property together with all other property or <br />funds of Owner, provided that Agent shall have the right at its cost and expense to <br />retain copies of said books and records. Agent shall have no obligation to keep or <br />maintain any books or records of the Property or the operations thereof after the <br />termination or expiration of the Agreement to the extent that such books and <br />records have been delivered to Owners as hereinabove provided. Agent shall, <br />upon the expiration or termination of the Agreement, also deliver to Owner all <br />furniture, equipment supplies, brochures and advertising materials owned by the <br />Owner or the Property used in the operation of the Property and a complete list of <br />same, and all service contracts and agreements binding upon Owner or the <br />Property. Said furniture shall include furniture used in the office of the Property, <br />but may not include furniture which may be leased from third parties. Agent shall <br />at any such termination or expiration, cooperate with Owner or any successor <br />Agent in providing Owner or any successor Agent such information as it may <br />reasonably require to operate the Property to provide for an orderly transition in <br />the management of the Property. <br />D. Personal Policy and Staffing Arrangements <br />Vista del Rio shall be assigned a PM that provides after hours coverage and <br />resides on site, as well as an RSC and a dedicated maintenance staff person. In <br />the event the PM does not reside on site, a key holder position will be placed at <br />the property. The key holder will report to the PM and will be the lead for after <br />business hours coverage and emergency response. In addition, Vista del Rio will <br />be assigned a back -up PM. At ACOF buildings, property managers work in pairs <br />to provide full experienced coverage to all of ACOF's properties. The back up <br />system ensures cross training, that is, more than one PM is familiar with each <br />buildings systems, operations and tenant population. It also addresses ACOF's <br />special needs tenants' sensitivity to change and the unfamiliar. The back -up <br />manager is required to collect rent and conduct community meetings once a <br />quarter. <br />The property management company assigns a supervisor to each property <br />manager. In ACOF's case, JSCO has assigned a dedicated supervisor who acts as <br />liaison for ACOF thus providing ACOF with a supervisor who is well versed in <br />Exhibit H - 7 - <br />
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