Maintenance and Repair of Property Clause Samples

Maintenance and Repair of Property. Manager shall, subject to the parameters of the Operating Budget, use commercially reasonable efforts to maintain the buildings, appurtenances and grounds of the Project in substantial accordance with standards prescribed by Owner, including, without limitation thereof, interior and exterior cleaning, painting and decorating, plumbing, carpentry, and such other normal maintenance and repair work as may be desirable; provided, however, that no warranty, express or implied, shall arise from the foregoing Manager's obligation as to the tenantability, habitability, suitability or fitness for a particular purpose of the buildings, appurtenances and grounds. For any one non-budgeted item of repair or replacement, Owner's authorization is required if the expense exceeds Twenty-Five Hundred Dollars ($2,500.00), and for any one budgeted item of repair or replacement, the expense incurred shall not be in excess of the budgeted amount by twenty-five percent (25%) or Twenty-Five Hundred Dollars ($2,500.00), whichever the lesser, unless specifically authorized by Owner; provided, however, that emergency repairs necessary for the preservation and safety of the Project or the avoidance or the suspension of any service to the Project or the protecting of life or property from serious injury or damage may be made by Manager, but Manager will confer immediately with Owner regarding every such expenditure and will furnish a complete written report as soon as possible.

Maintenance and Repair of Property. Manager shall, as an expense of the Property and consistent with approved budgetary guidelines, maintain the buildings, appurtenances and common areas of the Property in good condition according to local standards for comparable properties in the immediate market area surrounding the Property, and, in any event, in accordance with the standards and conditions specified by Owner from time to time. Maintenance and repair items shall include but shall not be limited to, interior and exterior janitorial services, exterior grounds and landscaping services, repairs and alterations to existing improvements, plumbing, parking areas, electrical systems painting, carpentry, maintenance and repair of mechanical systems and such other maintenance and repair work as is reasonably necessary. Manager agrees to periodically review with Owner all expenses and any reserves therefor, and other services rendered in connection with the Property, excepting, however, that emergency repairs reasonably deemed immediately necessary by Manager for the preservation and safety of the Property or tenants or other persons, or to avoid the suspension of any service to the Property may be made by Manager without the approval of Owner if, under the circumstances, Owner cannot be notified in any reasonable manner before the required emergency repairs must be made and such costs do not exceed $5,000.00. Owner's representative, which for purposes herein, shall be deemed Owner's asset manager, as identified from time to time, in all instances shall be notified of any such emergency expenditures within 24 hours of the occurrence thereof. Notwithstanding this authority as to emergency repairs, it is understood and agreed that Manager will confer with Owner regarding every such expenditure. All necessary maintenance shall be performed by Manager in a timely manner, and, unless otherwise directed by Owner, no necessary maintenance shall be deferred except for such period during which Manager has requested and has not received Owner's approval thereof.

Maintenance and Repair of Property. Manager shall, as an expense of the applicable Property and consistent with approved budgetary guidelines, maintain the buildings, appurtenances and common areas of each Property in good condition according to local standards for comparable properties in the immediate market area surrounding the Property, and, in any event, in accordance with the standards and conditions reasonably specified by Owner from time to time. Maintenance and repair items shall include but shall not be limited to, interior and exterior janitorial services, exterior grounds and landscaping services, repairs and alterations to existing improvements, plumbing, parking areas, electrical systems, painting, carpentry, maintenance and repair of mechanical systems and such other maintenance and repair work as is reasonably necessary. Manager agrees to review periodically with Owner all expenses and any reserves therefor, and other services rendered in connection with each Property. Notwithstanding anything in this Agreement to the contrary, emergency repairs and/or other expenditures deemed immediately necessary by Manager for the preservation and safety of a Property or tenants or other persons, or to avoid the suspension of any service to a Property may be made by Manager without the approval of Owner if, under the circumstances, Owner cannot be notified in a reasonable manner before the required emergency repairs and/or expenditures must be made.

Maintenance and Repair of Property. Property Manager shall, subject to the parameters of the Operating Budget and Section 3.2 hereof, maintain the buildings, appurtenances and grounds of each of the Properties in substantial compliance with all Legal Requirements and in substantial accordance with standards prescribed by Owner, including, without limitation thereof, interior and exterior cleaning, painting and decorating, plumbing, carpentry, and such other normal maintenance and repair work as may be desirable. Property Manager may make, outside of the Operating Budget, emergency repairs necessary for the preservation and safety of a Property or the avoidance or the suspension of any service to a Property or the protecting of life or property from serious injury or damage provided that Property Manager confers promptly with Owner regarding every such expenditure and furnishes a complete written report as soon as possible.

Maintenance and Repair of Property. Manager shall use its best diligent efforts to maintain, at Owner’s expense, the Apartments in good condition and repair and in accordance with standards established by Owner in writing from time to time, including but not limited to interior and exterior cleaning, painting and decorating, plumbing, carpentry, and such other normal maintenance and repair work as may be reasonably desirable taking into consideration the amount allocated therefor in the Annual Business Plan. With respect to any expenditure not contemplated by the Annual Business Plan, Manager shall not incur any individual item or repair or replacement in excess of Five Thousand Dollars ($5,000.00) or (with all such other un-contemplated items) more than $25,000.00 per year in the aggregate unless authorized in writing by Owner’s Representative, excepting, however, that emergency repairs immediately necessary for the preservation and safety of the Apartments or to avoid the suspension of any service to the Apartments or danger of injury to persons or material damage to property may be made by Manager without the approval of Owner’s Representative. Owner shall not establish standards of maintenance and repair which violate or may violate any laws, rules, restrictions or regulations applicable to Manager or the Apartments or which expose Manager to risk of liability to tenants or other persons. Manager shall not be obligated by this Section to perform any major capital improvements, unless same are approved in writing by Owner or are provided for in the Annual Business Plan.

Maintenance and Repair of Property. Borrower shall maintain and preserve its assets in good repair, working order and condition (ordinary wear and tear excepted), and shall from time to time make all needful and proper repairs, renewals, replacements, additions, and betterments thereto so that at all times the efficiency thereof shall be fully preserved and maintained, except to the extent that, in the reasonable business judgment of Borrower, any such Property is no longer necessary for the proper conduct of Borrower’s business.

Maintenance and Repair of Property. Borrower shall (a) maintain the Property, including the parking and landscaping portions thereof, in good condition and repair, (b) promptly make all necessary structural and non-structural repairs to the Property, and (c) not demolish, alter, remove or add to any Improvements, excepting (i) the repair and restoration of Improvements following damage thereto as required by this Agreement, and (ii) as otherwise required by any applicable law, rule or regulations, and (d) not erect any new buildings, structures or building additions on the Property, without the prior written consent of

Maintenance and Repair of Property. The Property Manager shall not have the duty to maintain and repair the buildings, appurtenances or grounds of the Property to the extent these are obligations of the Tenant under the Lease. The Property Manager shall, however, have the authority and shall use its best efforts to enforce such obligations of Tenant, and to institute legal proceedings for the enforcement and/or collection therefor, and for the dispossession of Tenants from the Property. In the event that the Property Manager is unable to cause the Tenant to perform its obligations to maintain the Property, the Property Manager shall cause the Property to be maintained and repaired in a good and safe condition, at the expense of the Issuer as set forth herein.

Maintenance and Repair of Property. At the expense of Owner, Manager shall use its reasonable best efforts to maintain the buildings, appurtenances and grounds of the Property in accordance with standards reasonably acceptable to Owner, including, but not limited to, interior and exterior cleaning, painting, decorating, carpentry and other normal maintenance and repair work. Except