Common use of Leasing and Renting Clause in Contracts

Leasing and Renting. (A) Company’s Authority. Company is authorized to negotiate, prepare and sign all leases, including all renewals and extensions of leases and to cancel and modify existing leases for Owner. All costs of leasing shall be paid out of the Property Trust Account. Leases are to be written on Company’s standard lease form. (B) Enforcement of the Leases. Company is authorized to institute, in Owner’s name, all legal actions or proceedings for the enforcement of any lease term, for the collection of rent or other income from the Property, or for the eviction or dispossession of the Tenants or other persons from the property. Company is authorized to sign and serve such notices as Company deems necessary for lease enforcement, including the collection of rent or other income. If Company deems it necessary, Company may retain an attorney of Company’s choice. Owner shall pay all attorneys fees and costs of court. If the Tenant owes any monies to Owner after vacating or eviction, Company will pursue collection services. Company will charge 40% of all monies collected through the collection process. (C) Management/Maintenance Review. Company shall make a management/maintenance review of the Property at the time of occupancy, when the Tenant vacates and at such other times as Company feels necessary or advisable and report matters concerning the condition of the Property to Owner. In the event of vacancy, Company will take reasonable precautions to secure the Property. (D) Property Condition Report. Company will prepare a Property Condition Report upon turnover of Property. A walk through inspection with the Tenant will be conducted at move in and move out. Photos will be taken at both times to document the condition of the property. An inspection fee of $25.00 may be charged to the Owner for each inspection. If broker needs to handle any activity during a vacancy, the Company may access an $80.00 vacant management fee for that month. Locks will be re‐keyed with each change of Tenant at Owner’s expense.

Leasing and Renting. (A) CompanyBroker’s Authority. Company Broker is authorized to negotiate, prepare and sign all leases, including all renewals and extensions of leases and to cancel and modify existing leases for Owner. All costs of leasing shall be paid out of the Property Trust Account. Leases are to be written on CompanyBroker’s standard lease form. (B) Enforcement of the Leases. Company ▇▇▇▇▇▇ is authorized to institute, in Owner’s name, all legal actions or proceedings for the enforcement of any lease term, for the collection of rent or other income from the Property, or for the eviction or dispossession of the Tenants or other persons from the property. Company Broker is authorized to sign and serve such notices as Company Broker deems necessary for lease enforcement, including the collection of rent or other income. If Company Broker deems it necessary, Company ▇▇▇▇▇▇ may retain an attorney of Company▇▇▇▇▇▇’s choice. Owner shall pay all attorneys fees and costs of court. If the Tenant owes any monies to Owner after vacating or eviction, Company ▇▇▇▇▇▇ will pursue collection services. Company Broker will charge retain 40% of all monies collected through the collection process. (C) Management/Maintenance M anagement/ M aintenance Review. Company Broker shall make a management/management/ maintenance review of the Property at the time of occupancyprior to each new secured Tenant, when the Tenant vacates and at such other times as Company Broker feels necessary or advisable and report matters concerning the condition of the Property to Owner. In the event of vacancy, Company Broker will take reasonable precautions to secure the Property. (D) Property Condition Report. Company will prepare a Property Condition ▇▇▇▇▇▇ ion Report upon turnover of Property. A walk through inspection with the Tenant will be conducted at move in and move out. Photos will be taken at both times t ▇▇▇▇ to document the condition of the property. An inspection fee of $25.00 may be charged to the Owner for each inspectioninspection outside normal inspection t imelines. If broker needs to handle any activity during a vacancy, the Company Broker may access an a $80.00 75.00 vacant management fee for that month. Locks will be re‐keyed re-keyed with each change of Tenant at Owner’s expense.