Management of Mortgaged Property. Trustor shall manage the Mortgaged Property through its own personnel or a third party manager approved by Beneficiary, and shall not hire, retain or contract with any other third party for property management services without the prior written approval by Beneficiary of such party and the terms of its contract for management services; provided, however, Beneficiary shall not withhold approval of a new manager if the new manager has a reputation and experience in managing properties similar to the Mortgaged Property which are greater than or equal to the present experience and reputation of the current manager.
Appears in 8 contracts
Sources: Deed of Trust (Redwood Mortgage Investors IX), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Redwood Mortgage Investors Viii), Deed of Trust (Redwood Mortgage Investors IX)