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Res_11487
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Res_11487
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Last modified
2/20/2018 2:49:32 PM
Creation date
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 /> Except as otherwise provided herein, any termination for Cause shall be effective upon receipt <br /> of written notice of termination given by Owner to Manager, specifying the nature of the <br /> alleged default by Manager as set forth herein, or thereafter upon such other date as specified <br /> in such written notice; provided that Manager fails to cure such default within fifteen (15) <br /> business days after receipt of such written notice from Owner. <br /> Upon termination of this Agreement, each party shall continue to be fully liable for their <br /> respective obligations which have accrued up to and including the termination date and shall <br /> promptly pay to the other all amounts due to the other party under the terms of this <br /> Agreement. Such payment shall be made as soon after the effective date of termination as such <br /> amounts are determinable. Upon such payment, neither party shall have any further claim or <br /> right against the other,except as expressly provided herein. <br /> 7. Upon termination of this Agreement, Manager shall (a) prepare and deliver to Owner a final <br /> accounting reflecting the balance of income and expenses for the Property as of the date of <br /> termination; (b) return to Owner any excess amounts in the operating account; (c) deliver to <br /> Owner all Property related books and records, provided that Manager may make, and maintain, <br /> copies of such books and records. <br /> 8. Owner hereby agrees that for a period of eighteen (18) months after the termination of this <br /> Agreement for any reason,Owner shall not,on its own behalf or on behalf of any other person, <br /> partnership, association, corporation or other entity, hire, or solicit for employment any <br /> employee or associate of Manager, or in any manner attempt to influence or induce any <br /> employee or associate of Manager to leave the employment of,or engagement by Associate. In <br /> the event Owner or Owner's successor agent or manager hires any employee or associate of <br /> Manager, then Owner agrees to compensate Manager a fee equal to employee or associates <br /> annual salary. <br /> 9. As compensation of its management services, Manager shall be paid monthly by Owner a <br /> management fee the greater of$2,000 per month or 5%of gross revenues collected. Manager <br /> and Owner acknowledge and agree that Owner has purchased the Property from Manager,and <br /> prior to such purchase, Owner leased certain space in the Property from Manager. The lease <br /> agreement between the Manager, as lessor, and the Owner,as lessee, is hereby terminated if it <br /> has not otherwise been terminated in a separate document. Owner will occupy such portion of <br /> the Property as Owner deems desirable in its sole discretion ("Owner-Occupied Premises"),and <br /> Owner not be required to pay any rent nor shall any amount be added to the gross revenues <br /> with respect to the Owner-Occupied Premises, <br /> 10. Manager shall be reimbursed by Owner for accounting and financial expenses and <br /> administrative expenses which directly relate to the Property including but not limited to:forms, <br /> stationery, checks, bank charges, postage, courier charges, printing and copier charges and <br /> other expenses incurred with Owner's consent. No other expenses incurred by Manager in <br /> Manager's fulfillment of the responsibilities of this Agreement shall be payable by Owner <br /> without Owner's prior approval(or as otherwise provided in this Agreement). <br /> 5 <br />
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