STEVENS REALTY LLC475 West End St

STEVENS REALTY LLC475 West End St.

Cookeville, TN 38501

(931) 526-5188

“Serve God through serving our family, tenants, owners and community.”

STEVENS REALTY LLC PROPERTY MANAGEMENT AGREEMENT

This Property Management Agreement is entered into by and between ______(Owner) and ______

IN CONSIDERATION of the mutual covenants and promises set forth here in, Owner hereby contracts with Stevens Realty LLC, and Stevens Realty LLC hereby contracts with Owner, to lease and manage the property described below, as well as any other property Owner and Stevens Realty LLC may from time to time agree in writing will be subject to this Agreement (the "Property"), in accordance with all applicable laws and regulations, upon the terms and conditions contained herein.

l. Property: Street Address: ______

City:______Country: ______Zip Code: ______

Other Description: ______

2. Duration of Contract. This contract shall commence on the date it is signed, and continue on a month to month basis. This contract may be terminated at any time by the Owner upon giving Stevens Realty LLC thirty (30) days written notice, and also in the event of a bona fide sale of the property, and without notice in the event Stevens Realty LLC fails to discharge their durties faithfully in the manner herein provided. This contract may be terminated by Stevens Realty LLC upon giving the Owner (30) days written notice.

3. Management Fee. The Owner shall pay Stevens Realty LLC as full compensation for their services the sum of the 8% of the collected cash. These amounts shall be payable to Stevens Realty LLC when such funds become available from the amounts collected by Stevens Realty LLC t according to this contract.

Owner understands that monthly inspections, representation at court hearings, rent board hearings, depositions, homeowner meetings, property tax assessment appeal hearings, insurance claim related paperwork and estimates, department of building inspection director hearings, and other exceptional building related events are not covered by the monthly management fee. If agent renders these services, Owner shall reimburse Stevens Realty LLC for their time. A full accounting of billable hours will be provided to the owner.

See addendum "Schedule of Other Fees and Tenant Fees Structure"

Stevens Realty LLC may deduct the Fee from gross receipts and collections received before remitting the balance of the receipts and collections to Owner. Note: No fees may be deducted from any tenant security deposit until the termination of the tenancy. Thereafter, any fees due to Stevens Realty LLC from Owner may be deducted from any portion of the security deposit due to Owner.

4. Other Fees: Stevens Realty LLC may charge tenants reasonable administrative fees permitted by law and retain any such fees, including but not limited to, fees to cover the costs of processing tenant rental applications.

*Other Possible Fees for Owners.

- If owner does not currently hold a checking or savings account to receive the ACH draft every month, the owner can request that a check is mailed along with a paper statement for the cost of $10 per month

- In the event of an eviction, Stevens Realty LLC will get all paper work ready for court, turn it over to an attorney and will charge a $100 Court Appearance Fee.

- Credit Card Charges: Tenants may use credit and debit cards to pay rent. There will be a 2.5% credit card fee on all credit and debit card transactions that will be billed to the owner.

- Locks: Stevens Realty LLC will install Stevens Realty LLC locks on the property. There is $30.00 per lock charge that will be billed to the owner plus lock installation cost.

- Large Turnover Coordination: In the event that the owner request that we coordinate a large maintenance project that exceeds $1000 in cost. Stevens Realty LLC will charge 10% of the cost for coordinating the work, inspection and follow through with the workers on the job until the project is completed. Roof and CHA work are excluded from this rule.

- The owner agrees to pay a $150 set up fee after the management agreement is signed.

- Owner agrees to pay Stevens Realty a 6% commission if Stevens Realty finds a buyer for the house. The owner will consider listing the house with Stevens Realty if the owner decides to sell the house.

5. Authorities and Responsibilities of Property Manager, During the time this Agreement is in effect, Stevens Realty LLC shall:

(a) Manage the Property to the best of their ability, devoting there to such time and attention as may be necessary;

(b) OFFER THE PROPERTY FOR RENT IN COMPLIANCE WITH ALL APPLICABLE FEDERAL AND STATE LAWS, REGULATIONS AND ETHICAL DUTIES, INCLUDING BUT NOT LIMITED TO THOSE PROHIBITING DISCRIMINATION ON THE BASIS of RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, HANDICAP, FAMILIAR STATUS OR SEXUAL ORIENTATION.

(c) Use Stevens Realty LLC best efforts to solicit, secure and maintain tenants, including the authority to negotiate, execute, extend and renew leases in Owner's name.

(d) Collect all rent and other charges and amounts due under tenant leases and give account for amounts so collected;

(e) Deliver to Owner on or before the 15th of each month any rental agreement , an accounting which sets forth the name of the tenant, the rental rate and rents collected and promptly provide a copy of any rental agreement to Owner.

(f) Provide Owner monthly statements of all monies received and disbursed in connection with Stevens Realty LLC management of the Property, and remit to Owner rental proceeds collected, less any deductions authorized hereunder; provided: (l) this shall not constitute a guarantee by Agent for rental payments that Stevens Realty LLC is unable to collect in the exercise of reasonable diligence; and (2) if, pursuant to this Agreement or required by law, Agent either has refunded or will refund in whole or in part any rental payments made by a tenant and previously remitted to Owner, Owner agrees to return same to Stevens Realty LLC promptly upon Stevens Realty LLC demand;

(g) Make or cause to be made any repairs which, in Stevens Realty LLC opinion, may be necessary to preserve, maintain and protect the Property; provided, Stevens Realty LLC may not make any repairs that exceed $ 100. 00 without prior approval of Owner, except that in the case of an emergency, Stevens Realty LLC may, without prior approval, make whatever expenditures on behalf of Owner that are reasonably necessary to preserve the Property or prevent further damage from occurring;

(I) Answer tenant requests and complaints and perform the duties imposed upon Owner by tenant leases or any local, state or federal law or regulations including the authority to purchase such supplies and hire such labor as may be necessary in Stevens Realty LLC opinion to accomplish any necessary repairs;

(J) Retain such amounts from Owner's rental proceeds as may be necessary from time to time to establish and maintain a fund on behalf of Owner in the amount that equals one month rent, , from which Stevens Realty LLC may pay expenses associated with the management and operation of the Property for which Owner is responsible hereunder. The agent requires that the property owners keep a fund reserve equal to one month’s rent in their account with Stevens Realty at all time. Stevens Realty will collect and hold the first month’s rent. This amount will be returned to the owner at the end of the property management agreement.

(K) Negotiate partial refunds with tenants if, in Stevens Realty LLC reasonable opinion, the tenant's use and enjoyment of the Property has been or will be materially and adversely affected as a result of a defect in the condition of the Property (such as a repair to the electrical, plumbing, sanitary, heating or ventilating facilities or a major appliance that cannot be made reasonably and promptly);

(H) Institute and prosecute such proceedings in small claims court as may be necessary and advisable, in Stevens Realty LLC opinion, to recover rents and other sums due the Owner from tenants or to evict tenants and regain possession, including the authority, in Stevens Realty LLC discretion, to settle, compromise and release any and all such small claims proceedings; provided, that with respect to any such small claims proceeding. We will procure an attorney to review and process all legal paperwork and give it to an attorney to have it properly done.

(I) Inspections: An inspection will be done 9 months into the lease before the lease renewal is sent.

The owner will receive a copy of the inspection report and a list of any repairs for the owner approval. The tenant will be billed for the repairs if the damage was caused by the tenant. The inspection report will cost the owner $50.

(J) Open Properties: Signs and lock boxes will be used to advertise and show all open properties. Open properties being advertised have a risk of theft. The owner understands this and holds Stevens Realty harmless in case of any theft or damage done to the property

(K) Owner Portal. Stevens Realty LLC will give the owner access to an online tenant portal where the owner is able to monitor real time, all activity pertaining to his units, (Service Requests, Payments, Notices, Owner Draws/Statements)

(L) Financial Records. All monies collected by Stevens Realty LLC shall be deposited into a Real Estate Escrow Account or accounts as required by the Owner. Such monies of the Owner shall not become mingled with funds of Stevens Realty LLC However, Stevens Realty LLC may withdraw monies from such accounts as necessary to properly perform this contract and in payment of compensation as required by this contract. Stevens Realty LLC shall provide the Owner with periodic statements accounting for all expenses and will open its records to the Owner upon demand.

6. Marketing. Owner authorizes Stevens Realty LLC t to advertise the Property in such manner as may be appropriate in Stevens Realty LLC opinion, including the authority to: (Check ALL applicable sections )

- Place “For Rent" signs on the Property (where permitted by law and relevant covenants) and to remove other such signs.

- submit pertinent information concerning the Property to any listing service of which Stevens Realty LLC is a member or in which any of agent's associates participates and to furnish to such listing service notice of all changes of information concerning the Property authorized in writing by Owner. Owner authorizes Agent, upon execution of a rental contract for the Property, to notify the listing service of the rental, and to disseminate rental information including rental price, to the listing service, appraisers and real estate brokers..

- advertise the Property in non-Internet media, and to permit other firms to advertise the Property in non-Internet media to the extent and in such manner as Stevens Realty LLC may decide..

- display information about the Property on the Internet either directly or through a program of any listing service of which Stevens Realty LLC is a member or in which any of Stevens Realty LLC associates . participates, and to authorize other firms who belong to any listing service of which t Stevens Realty LLC is a member or in which any of Agent's associates participates to display information about the property on the Internet in accordance with the listing service rules and regulations.

7. Responsibilities of the Owner

(a) Be responsible for all costs and expenses associated with the maintenance and operation of the Property in accordance with the requirements of tenant leases or any local, state or federal law or regulations .

(b) Provide funds to Stevens Realty LLC promptly upon ghdif request for any cost or expense for which Owner is responsible that Stevens Realty LLC in thier discretion, incurs on Owner's behalf, including but not limited to, the costs of advertising, emergency maintenance and repairs, utilities, property taxes, owners' association dues and assessments, court costs and attorney's fees;

(c) NOT TAKE ANY ACTION OR ADOPT ANY POLI.CY THE EFFECT OF WHICH WOULD BE TO PREVENT Stevens Realty LLC FROM OFFERING THE PROPERTY FOR RENT IN COMPLIANCE WITH ALL APPLTCABLE FEDERAL AND STATE LAWS, REGULATIONS AND ETHICAL DUTIES, INCLUDING BUT NOT LIMITED TO, THOSE PROHIBITING DISCRIMINATION ON THE BASIS OF RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, HANDICAP, MARITAL STA TUS OR SEXUAL ORIENTATION IN THE LEASING OF THE PROPERTY;

(d) Carry, at Owner's expense, public liability insurance against any and all claims or demands whatever arising out of, or in any way connected with, the operation, leasing and maintenance of the Property, including property damage and personal injury, in the amount of not less than $300,000.00, which policies shall be written to the extent allowable so as to protect Stevens Realty LLC in the same manner as Owner, and provide at least annually a copy of such insurance policy or policies to Stevens Realty LLC upon their t; (Name of insurance agent: ; telephone no: )

(e) Indemnify and hold Stevens Realty LLC harmless from any and all costs, expenses, attorneys' fees, suits, liabilities, damages or claims for damages, including but not limited to, those arising out of any injury or death to any person or loss or damage to any property of any kind whatsoever and to whomsoever belonging, including Owner, in any way relating to the management of the Property by Stevens Realty LLC or the performance or exercise of any duty, obligation or authority set forth herein or hereafter granted to Stevens Realty LLC.

(f) Be responsible for timely payment of all property taxes, mortgage payments, governmental or owners' association assessments associated with the Property, and any other expenses which could become a lien against the Property, and for promptly notifying Agent in the event that Owner receives any notice(s) from the holder of any loan or from any other lien holder of any kind, regarding a default in payment, threatened foreclosure or the filing of a foreclosure proceeding; the owner should make Stevens Realty LLC aware of the issue ASAP.