LSI 2010 Real Estate Joint Ventures conference materials.pdf

David E. Myre, Jr. of Hillis Clark Martin & Peterson, P.S.
Jane Rakay Nelson of Lane Powell PC
(13) Any engagement of a leasing agent to lease any portion of the Project
(other than the Property Management Agreement with Developer’s Affiliate approved
pursuant to the Operating Agreement);
(14) Any engagement of a property management company to manage any part
of the Project (other than the Property Management Agreement);
(15) All annual operating budgets, which budgets shall include parameters for
minimum rental rates and maximum tenant improvement allowances, and all annual
business plans;
(16) The investment of Company funds in any asset other than the Site or the
Project, or any transaction that is not in the ordinary course of business of the Company
or that is not directly related to the acquisition of the Site and development, construction,
leasing and operation of the Project;
(17) Any agreed-upon condemnation (or any conveyance in lieu of
condemnation) of all or part of the Project;
(18) Selection of insurance carriers, determination of insurance coverages to be
obtained by the Company, and settlement of insurance claims in excess of an agreed
amount;
(19) Institution or settlement of any lawsuit, arbitration or other legal
proceeding or confession of any judgment against the Company;
(20) Any press release or other public dissemination of non-public information
with respect to the Company or the Project;
(21) Granting of all approvals, waivers and consents on behalf of the Company
under the Property Management Agreement (and Developer as Manager shall have no
discretion or authority in such matters);
(22) Enforcement of the terms and conditions of the Property Management
Agreement on behalf of the Company (and Developer as Manager shall have no
discretion or authority on such matters);
Speaker 9a: 5
Speaker 10a: 5
(23) Adoption by the Company of the “Leasing Guidelines” referred to in the
Property Management Agreement, all subsequent modifications thereto, adoption of
forms of retail, office/commercial and residential leases to be used at the Project, and all
modifications to any of the foregoing;
(24) Execution of any lease in the Project for retail or office/commercial space
not in conformity with the Leasing Guidelines, the economic terms set forth in the
applicable annual operating budget and annual business plan, or the applicable approved
form of lease;
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Law Seminars International | Real Estate Joint Ventures and Funds | 02/08/10 in Seattle, WA