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Res_11487
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Res_11487
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2/20/2018 2:49:32 PM
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2/20/2018 2:47:43 PM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
1/29/2018
Resolution #
11487
Resolution Title
Resolution Approving the Purchase/Sale of Certain Land by the City of Roseville
Resolution Date Passed
1/29/2018
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i <br /> C. Manager shall distribute to tenants rental billing statements for each month on or about <br /> the 15th day of the immediately preceding month and shall distribute applicable late <br /> payment notices to tenants on or about the 101h day of each month. <br /> D. Collect all rental payments and other income and deposit such funds in an operating <br /> account established by Manager and approved by Owner for the Property. Manager <br /> shall pay all operating expenses of the Property out of such operating account(to the <br /> extent of available funds in such account). Manager shall disburse the Property's excess <br /> cash flow to Owner on a monthly basis. Manager shall promptly and diligently pursue <br /> collection of tenant delinquencies subject to approval of Owner,the cost of which shall <br /> be and expense payable from the Property operating account. <br /> E. Notify Owner in writing if at any time the gross income(or cash in the operating <br /> account)from the Property shall not be sufficient to pay the expenses and charges <br /> which may be incurred with respect to the Property. Manager shall also provide to <br /> Owner a sources and uses statement to document such cash shortages and Owner shall <br /> provide sufficient monies to eliminate such cash shortage. Manager shall have no <br /> responsibility to pay any expenses which cannot timely paid due to a lack of sufficient <br /> funds in the operating account. <br /> F. Develop and maintain accurate records with respect to the management of the Property <br /> Including: leases,service contracts,correspondence,invoice,tenant billings, receipts <br /> and expense payments related to the Property. Owner will,after the commencement <br /> date of this Agreement, promptly make available to Manager any pertinent records <br /> related to the Property and tenants,including records maintained by the previous <br /> property manager,if any. <br /> G. Review all real estate tax bills,water and sewer charges,utilities and other assessments <br /> and pay such amounts,on Owner's behalf,out of the operating account(to the extent <br /> of the available funds). <br /> H. Promptly report to Owner conditions at the Property requiring attention by Owner or <br /> Manager. <br /> I. Contract,on behalf of Owner,for the making of necessary repairs and the performance <br /> of the other necessary work and replacement of damaged,worn or inoperative <br /> equipment or fixtures in the Property. Owner's written approval shall be required for <br /> expenses not contained in the approved operating budget,which exceed$2,500. <br /> Additionally, In the event the Manager,in its good faith and reasonable judgment, <br /> deems an expenditure not provided for in an approved budget to be an emergency(that <br /> Is Immedlately necessary to protect persons or property), Manager shall be authorized to <br /> make such expenditure on behalf of the Owner, provided the Manager notifies Owner <br /> by telephone of the nature of the emergency and the scope of the work to be done,and <br /> 2 <br />
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