|Posted on July 25, 2020 at 5:25 PM|
SAMPLE AGREEMENT from THE FOOTHILLS COMPANY, INC., DBA. FOOTHILLS PROPERTY MANAGEMENT
STATE OF SOUTH CAROLINA} MANAGEMENT AGREEMENT CONTRACT
COUNTY OF PICKENS }
THIS MANAGEMENT AGREEMENT CONTRACT, MADE AND ENTERED INTO THIS _______ day of ________________, ________ by and between:
A non-profit, non-stock membership corporation organized under the laws of the State of South Carolina, with its principal place of business located in Clemson, South Carolina, hereinafter referred to as “the Association”, party of the first part; and
THE FOOTHILLS COMPANY, INC.
DBA. FOOTHILLS PROPERTY MANAGEMENT
Hereinafter referred to as “Agent”, party of the second part.
WHEREAS, by the terms of the “Master Deed”, under the “Horizontal Property Act” of the Code of Laws of South Carolina for
The Association shall be responsible for all those certain properties within its jurisdiction pursuant to that Declaration and to the By-Laws of the association and the maintenance, repair, and the life of same;
NOW THEREFORE, in consideration of one ($1.00) dollar and other valuable consideration each to the other paid and the mutual covenants herein contained, the parties hereto to enter into this Management Agreement Contract and do mutually agree as follows:
The Association hereby employs and appoints Agent, and Agent hereby accepts employment and appointment, on the terms and conditions hereinafter provided, an exclusive managing agent for the Association of all property under the jurisdiction of the Association in connection with the property known as
located in Clemson, South Carolina, and referred to herein as “the Property”.
The terms of employment and appointment of agent by Association shall be subject to the provisions of Article II hereinbelow:
The term of Agent’s initial employment shall be for a period of one year, beginning on and ending on and continuing thereafter for successive thirty (30) day periods, subject to the privilege on the part of either party to terminate this agreement at any time by giving the other party thirty (30) day prior written notice of intention to terminate. Said privilege or termination shall exist whether with or without cause. The above notwithstanding, it expressly agreed and understood that this agreement may be cancelled by either party, with or without cause, at any time, upon giving thirty (30) days notice.
As compensation for Agent’s services as hereinafter set out, compensation to be paid is ________ per unit per month, said commission being paid only on such units that have been dedicated. The amount of commission set out above shall be reviewed by the parties at the end of the first year of this agreement and thereafter annually, and the same shall be adjusted as of such dates, as agreed between the parties.
IV. ADMINISTRATIVE DUTIES
Agent shall perform for Association certain services in connection with the Association’s duties regarding the assessment of individual unit owners in the condominium property and the maintenance of said property, it being understood that in all such matters and the Association has the full and final authority and that Agent will not become involved in any matters of administration except on an advisory basis. The services which Agent agrees to perform in this connection and at the expense of the Owner or Association, as allocated herein below, are to;
Be responsible for the monthly receipt of assessments from the unit
owners, and in that regard:
1. Agent shall send late notices to individual owners whose assessment payments are not received by the agent by the tenth
day of each month.
2. Agent shall file the necessary court action involved in the collection of delinquent assessments.
Keep accurate records of the payment of assessments.
Receive all receipts and make all disbursements, including capital fund deposits and including Agent’s fee, and to render monthly statements of receipts and disbursement to the Owner or the Board of Directors of the Association. Said monthly reports are to be provided to the President of the Association so long as it owns any units in the Property. In the event the disbursements shall be in excess of the receipts collected by Agent, the Owner or Association hereby agrees to pay such excess promptly upon demand by Agent.
Deposit all receipts collected from unit owners in an insured Trust Account in a national or state banking institution, separate from Agent’s personal or other accounts. However, agent will not be held liable in the event of bankruptcy or failure of such depository. Agent’s employees who handle or are responsible for Association’s monies shall be bonded by a fidelity bond in an amount not less than six month gross potential receipts at the end of the previous calendar year, but not less than $100,000.00.
Maintain financial records for the Association and cooperate with the auditor of the records.
Advise and consult with the Board of Directors of the Association by phone, letter, or e-mail and meet with the Board of Directors of the Association at one annual meeting of the entire membership of the Association and one special meeting of the entire membership of the Association per year. In the event Agent is required to attend additional meetings, he shall be compensated at the rate of One Hundred Dollars per meeting.
Make such rules and regulations, subject to the consent and approval of the Board of Directors of the Association, as Agent deems necessary, and through the Board of Directors of the Association ensure that such rules and regulations are adhered to, as well as requirements and rules set out in the aforementioned Declaration and By-Laws.
Assist the Board of Directors of the Association in architectural control matters as questions arise.
Generally perform for the Association, subject to its consent and approvaL and subject to its direction, the administrative duties required of the Association pursuant to the aforementioned Declaration and By-Laws, and any amendments thereto.
Submit an annual budget proposal to the Board of Directors of the Association by the First of December of each year for the following year.
Notify members of the Association in writing of a telephone number whereby members of the Association may contact the Agent.
V. MAINTENANCE DUTIES
The Agent shall use diligence in the management of the Property and shall perform the following services to promote the recreation, health, safety and welfare of the residents of the condominium property and particularly in connection with the acquisition, improvement and maintenance of properties, services and facilities devoted to this purpose and related to the exterior maintenance of the units situated in the Property for the use and enjoyment of the common area, and the Association hereby gives to the Agent the following authority and powers and agrees to assume the expenses and responsibility in connection therewith to wit:
a. To make or cause to be made, after securing competitive bids, through independent contractors, or otherwise, in Agent’s discretion, the necessary maintenance upon the common area and exterior of all structures as follows: paint, repair, replacement and care of roofs, gutters, downspouts, exterior building services, and grounds including replacement of trees, shrubs, and walks, and other exterior improvements. In order to accomplish the foregoing, Agent will have the right to use the easements of the Association for unobstructed access over and upon each unit at all reasonable times.
b. To make contracts in the name of the Association as they become necessary, for such items as labor and supplies necessary to carry out the foregoing maintenance, during the term of this contract, and for electricity, gas, fuel, water, telephone, rubbish hauling, and any other services used during the term of this contract, which the Association and Agent shall deem advisable. The Association shall continue to be obligated upon any such contract so entered into in the event of termination of this agreement with Agent. Regarding all contracts entered into in its behalf, the Association, through its Board of Directors, shall have the right to cancel such contract with or without cause by giving thirty (30) days prior written notice to the Agent.
c. To hire, at the Association’s expense, discharge and supervise all independent contractors required for the operation and maintenance of the Property whether or not any of said labor is regularly employed by Agent or by any company in which Agent has a financial interest, and to supervise in such maintenance work any personnel who may already be employee of the Association, or who become employees of the Association, as the Association authorizes.
Notwithstanding the foregoing, the Agent agrees to secure the prior approval of the Association or all expenditures in excess of Seven Hundred Fifty ($750) Dollars for any one item, except monthly recurring operating charges, and except for emergency repairs in excess of said maximum, when in the opinion of the Agent such emergency repairs are necessary to protect the Property from damage or to maintain services to the Association as called for in their By-Laws or in the aforementioned Declaration.
It is further agreed between the parties that:
a. The Association shall indemnify and save Agent harmless from all liability, damage, and the cost and expense of any suits in connection with the management for the Property and from liability from injury or damages to person or property suffered by any employees, owner, or any other entity whatsoever in connection with the management of the Property and from liability from injury or damages to person or property suffered by any employees, owner, or any other person or entity whatsoever; provided however, that nothing herein contained would be deemed or constructed to relieve Agent from responsibility to the Association for any loss or damage resulting from the gross negligence, malfeasance, or willful misconduct or breech of the Contract by Agent, its employees and agents; and the Association will carry, at its expense, necessary public liability, workman’s compensation (except on Agent’s own employees), and other insurance adequate to protect the interest of the parties hereto which policies shall be so written as to protect the association, and will come the Agent as co-insured as to liability insurance.
b. The Association hereby authorizes Agent to pay property and employee taxes, special assessments, and to secure bids and assist in placing fire, liability or any other insurance required, and the Agent is hereby authorized to accrue and pay for same from the Association’s funds, and all postage, printing and office supplies used specifically in connection with the management will be paid from Association’s funds. Agent will handle all claims under aforementioned insurance carriers without the prior approval of the Board of Directors of the Association.
c. The Association acknowledges that the Agent shall be the exclusive managing agent of the Association during the term of this agreement, but Association acknowledges and agrees that Agent is not bound to exercise his or its full time in connection with the business of the Association as set out herein. It is understood and agreed that Agent is an independent contractor and nothing herein shall be construed as creating an employee-employer relationship.
Any notices now or hereafter required to be given pursuant to this
agreement shall be to the following address, or to such other address as may be from time to time provided in writing by one party to the other:
AGENT: Foothills Property Management
P.O. Box 111
Clemson, South Carolina 29633
Attn: Paige Lee
In the event the Association causes capital improvements of a kind other than normally budgeted to be made upon the Property, (such as the construction of walls, fences, and the like), than said agent shall be compensated at a rate not to exceed eight (8%) percent of the contract price of such improvements for services rendered, based on the time required in the supervision of the construction of such improvements.
In the event the Association shall impose any late charge for assessments not paid by the due date, the Association and the Agent shall share equally in any late charges collected.
THE MANAGEMENT AGREEMENT CONTRACT shall be binding upon and
shall insure to the benefit of the heirs, successors and assigns of the Agent and of the Association, and shall be construed in accordance with the laws of the State of South Carolina.
IN WITNESS WHEREOF, the parties hereto have affixed or caused to be affixed their respective signatures and seal, all month, year and first appearing above.
By: ____________________________ (Seal)
By: _______________________, its President
By: ____________________________ (Seal)
AGENT: THE FOOTHILLS COMPANY, INC.
By: ____________________________ (Seal)
By: _______________________, its President