Laserfiche WebLink
38 <br />ae~~s~s <br />or control. i:n the management of the Partnership business or <br />bind the Partnership in any way whatsoever. <br />i6. Rights and Duties of Partners. <br />16.1 The General Partners agree to devote to <br />the Partnership such of their time and render such services as <br />may be required for the efficient conduct of business of the <br />Partnership. The General Partners shall hire Meridith Property <br />t~anagesfent Corp. to act as the property manager for the Project <br />and to perform all services nor~:ally performed by a property <br />management company, including, without limitation, hiring <br />and firing on-site resident maragers and other on-site per- <br />. 3onnel, arranging for an advertising program, handling the <br />renting and operation of the Project, arranging for the <br />collection of and accounting for rent, paying all bills, <br />providing bookkeeping services, purchasing goods and sup- <br />gies, contracting for repairs, maintaining insurance and <br />perforaing such other duties not specifically enumerated that <br />arc required for *_he groper management, maintenance, and <br />- operation of a shopping mall. For such services, Meridith <br />Property llanageaent Corp. shall receive a fee of 5220,000 <br />siaultaneously kith the execution of this Agreement, such fee <br />being attributable $25,000 to services for 1980 and $65,000 <br />to services far each of the years 1981 through 1983. <br />ib.2 Subject to Section 1b.t, the General <br />4~. <br /> <br /> <br /> <br />