Furumoto Realty Inc Furumoto Realty

Write a Review201-801-6662

CLOSED NOW - Closed

This agreement is entered into on the th day of , 2003 by and between Furumoto Realty of NYC, Inc, a New York Corporation, having its principal office at 150 East 58th Street, NY 10155 23rd floor 23rd floor (hereinafter "Agent") and , (hereinafter "Owner") owning premises (the"Property") located at . Whereas Owner holds title to the "Property" and, Whereas Owner desires to provide for the management of the Property and, Whereas Agent is engaged in the business of managing such properties: Now, therefore, in consideration of the mutual promises and other consideration set forth herein, it is hereby contracted, covenanted and agreed by the parties hereto, as follows: 1.1 It is hereby agreed that Owner shall employ Agent as the sole and exclusive management agent of the Property 2.1 It is hereby agreed that Agent shall use all reasonable efforts to lease the Property to desirable tenants. For this purpose Agent may: d. Prepare leases and execute same as agent for Owner.Owner shall refer all inquiries for leases and renewal to Agent and all negotiations or leases and renewals shall be conducted and controlled by the Agent. 2.2 It is hereby agreed that Agent shall collect the rents and other income from the Property promptly when such amounts become due and shall deposit all such amounts in a separate account in a banking institution insured by the Federal Deposit Income Corporation.Owner however will have access to any information regarding his account at any time upon request. Agent shall quarterly render to Owner a formal statement of receipts and disbursements, and shall quarterly pay to Owner all amounts in such bank account except a reasonable balance for working cash, and shall simultaneously provide Owner with a statement of account. However, Owner shall have access to any information regarding Owner's account at any reasonable time, upon prior written request therefor. 2.3 It is hereby agreed that Agent shall, at the expense of Owner, purchase necessary and prop