Condominium Association Management Agreement

This Condominium Association Management Agreement ("Agreement") is made and entered into as of ____________________ ("Effective Date"), by and between ____________________, hereinafter referred to as "Association", and ____________________, hereinafter referred to as "Manager".

1. Appointment

The Association hereby appoints the Manager as its exclusive agent to manage, operate, and maintain the property known as ____________________ ("Property"), and the Manager hereby accepts such appointment subject to the terms and conditions set forth herein.

2. Term

The term of this Agreement shall commence on ____________________ and continue until ____________________, unless earlier terminated as provided herein.

3. Services Provided

The Manager agrees to perform the following services on behalf of the Association:

• Collect assessments and other charges from unit owners;
• Maintain accurate records of receipts and expenditures;
• Supervise maintenance, repairs, and improvements to the Property;
• Engage and supervise employees, contractors, and vendors as necessary;
• Prepare and submit financial and management reports to the Association;
• Other duties as may be mutually agreed upon in writing.

4. Compensation

The Association shall compensate the Manager as follows:

• Management Fee: ____________________
• Payment Schedule: ____________________
• Other compensation or reimbursements (if any): ____________________

5. Duties of Manager

1. Exercise reasonable care and diligence;
2. Act in good faith and the best interests of the Association;
3. Comply with applicable laws and governing documents of the Association;
4. Maintain the confidentiality of Association records unless disclosure is required by law.

6. Duties of Association

1. Provide Manager with necessary information and documentation;
2. Promptly pay agreed fees and reimbursable expenses;
3. Cooperate with Manager in the discharge of its duties.

7. Insurance

The Association shall maintain insurance coverage for the Property, and the Manager shall maintain its own liability insurance as required by law or agreed by the parties.

8. Termination

This Agreement may be terminated by either party upon ____________________ days prior written notice to the other party. Upon termination, the Manager shall deliver to the Association all records, books, funds, and other property of the Association in the Manager's possession.

9. Miscellaneous

• This Agreement constitutes the entire understanding between the parties and supersedes all prior negotiations and agreements.
• This Agreement may be amended only in writing, signed by both parties.
• This Agreement shall be governed by the laws of the State of ____________________.