Unless AUPM is late under the Property Management Agreement or any of its administrative obligations or negligently in its obligations, the MPP trust funds compensate third party claims or debts arising from the performance of services provided by the Property Management Agreement. This is an agreement between you (you or the investor) and Jelix Ventures Management Company Pty Ltd ACN 613 582 773 (us, us or Jelix) regarding your investment in a company (an issuer) via our website in www.jelix.vc (platform). It defines the services we will provide you and the fees you have to pay and other things you need to do in exchange for these services. Each activated term defined differently in this agreement has the meaning given to it in paragraph 18.1 of this Agreement. 12.4 Consequences of Termination In the event of termination of this Agreement: 10.2 Investor Recognition Notwithstanding Clause 10.1, you acknowledge that Jelix performs similar management functions for other customers (including clients who are Jelix subsidiaries) and owes other clients obligations that correspond to or are similar to the obligations it owes under this Agreement. When its customers purchase securities from the same issuer, Jelix acts in the best interests of customers as a whole with respect to that issuer. 17.5 Full Agreement This agreement and the documents mentioned in it constitute the whole agreement reached between the parties on its purpose and replace all previous agreements, agreements, assurances and guarantees on this purpose. 18.2 Interpretation In this agreement, the following rules of interpretation apply, except in cases of contrary intent: the duration of the investment management agreement is 10 years (unless it is extended by an agreement between the parties). After this first period, the investment management agreement automatically extends for a further 5 years, unless it is terminated in accordance with its termination rules. Property management services: – development and implementation of strategic asset plans for real estate; – setting annual budgets; – the execution of monthly leasing reports, third-party reports and account checks for each property; – the implementation of the general administration of the rental methods and the law for each estate; – establishing a monthly report detailing revenue and expense transactions for each property; and – to get in touch with each designated service provider in all ownership issues. Allens is pleased to have been involved in updating the Financial Services Council`s Investment Management Bid Agreement. The provision of FSC members and other industrial materials with good practice materials ensures that the sector meets high standards. Financial management services: – issuing monthly accounts to rent and fee tenants; – complete a monthly return on funds received or expenses incurred; – the collection and management of deposits and leasing guarantees; – the verification and management of rent arrears and related costs; – the execution of rent revisions included in leases at reasonable time; – the completion and availability of annual estimates and votes for tenants; and – pay all real estate outflows and, if necessary, proceed to tenant account votes.
Under the Property Management Agreement, AUPM is entitled to a combined royalty for asset management and financial management services of 2% per annum of the gross operating income budgeted for each property and all real estate acquired later by the fund or sub-trust and which are not excluded from the choice of trustees of the fund (hereafter managed buildings).