HomeMy WebLinkAboutBPW-12-06-17-11/Lauth Management, LLC/Property Management and Leasing AgreementRESOLUTION NO. BPW 12-06-17-11
RESOLUTION OF THE CITY OF CARMEL BOARD OF PUBLIC WORKS AND SAFETY
ACKNOWLEDGING RECEIPT OF CONTRACT
WHEREAS, pursuant to Indiana Code 36-1-4-7, the City of Carmel, Indiana ("City"), is authorized to
enter into contracts; and
WHEREAS, pursuant to Indiana Code 36-4-5-3(9), only the Mayor is authorized to sign City contracts;
and
WHEREAS, pursuant to his authority under Indiana law, Mayor James C. Brainard has caused to be
signed the City contract attached hereto as Exhibit A (the "Contract"); and
WHEREAS, Mayor Brainard now wishes to present the contract to the City's Board of Public Works and
Safety for it to be publicly acknowledged, filed in the Clerk -Treasurer's Office, and made available to the public for
review.
follows:
NOW, THEREFORE, BE IT RESOLVED by the City of Carmel Board of Public Works and Safety as
1. The foregoing Recitals are incorporated herein by this reference.
2. The receipt of the Contract is hereby acknowledged.
3. The Contract shall be promptly filed in the office of the Clerk -Treasurer and thereafter made available to
the public for review.
SO RESOLVED this day of 2017.
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
BY -
a 0�
P r.e
James Brainard, Presiding Officer
D e:
M Ann rke, 7�e/
6 j/ -7
Date: /
Lori S. W
S:\EBass\h4yDocuffients\BPW-Resolutions\2017\Acknowledge Lauth Mgmt, LLC for Mowhaw Landing Property Mgmt Agreement.docz1128/2017 11:48 AM
JAS
PROPERTY MANAGEMENT AGREEMENT
Between
THE CITY OF CARMEL, INDIANA
And
LAUTH MANAGEMENT, LLC
For
MOHAWK LANDING, CARMEL, IN
PROPERTY MANAGEMENT AND LEASING AGREEMENT
THIS PROPERTY MANAGEMENT AGREEMENT (this "Agreement"), made as
of the 8h day of June, 2017 (the "Effective Date'), by and between the City of Carmel,
Indiana, an Indiana municipal corporation (hereinafter referred to as the "Owner"); and
Lauth Management, LLC, an Indiana limited liability company (hereinafter referred to as
the "Agent").
WITNESSETH:
WHEREAS, the Owner is the owner of certain real property commonly known as
Mohawk Landing located at the southeast corner of S. Rangeline Road and E. 1260' Street
in Carmel, Indiana known as 700 — 731 Rangeline Road (the "Premises"); and
WHEREAS, the Owner desires to employ the Agent to assist in the management,
administration, and maintenance of the Premises, and the Agent is willing to accept such
employment, all on the terms and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the foregoing, and of the mutual
covenants and agreements hereinafter set forth, the parties hereto agree as follows:
1. Appointment of the Agent.
The Owner hereby appoints the Agent, and the Agent hereby accepts such
appointment, on the terms and conditions hereinafter provided, as the Agent to manage and
administer the Premises. The Agent is authorized to and is engaged in the business of
managing and operating similar properties.
2. Term and Termination.
(a) This Agreement shall commence on the Effective Date and shall continue
on a month-to-month basis, unless sooner terminated as provided in this Agreement.
This Agreement shall automatically extend for successive one month terms unless Owner
or Agent provides written notice to the other party of its intent to terminate this
Agreement in connection with Section 2(b) herein.
(b) The Owner and Agent shall each have the right to terminate this Agreement,
with or without cause, on not less than thirty (30) days' prior written notice to the other
part'.
(c) Upon the termination of this Agreement, the Owner shall pay to the Agent,
within forty-five (45) days following such termination, all fees required to be paid
hereunder through the date of the temunation of this Agreement. Upon termination, the
2
parties shall account to each other with respect to all uncompleted business, and the Agent
shall promptly deliver to the Owner all property files, books and records and other
instruments, documents, personal property and any and all other files relating to the
Premises or the Owner as may be in the possession of the Agent.
3. Duties of the Agent.
The Agent, in fulfilling its obligations under this Agreement, shall act with the care,
skill, prudence and diligence under the circumstances then prevailing that a prudent
managing agent acting in a like capacity and familiar with such matters would use in the
conduct of an enterprise of a like character and with like aims. Consistent with the
foregoing, the Agent shall perform the following services:
(a) cause to be hired, paid and supervised, all persons necessary to be employed
in order to properly administer and operate the Premises;
(b) cause the Premises to be maintained in a good, safe and clean condition and
in a condition comparable to that of other properly maintained properties of similar type
and location to that of the Premises, and cause routine repairs and incidental alterations of
the Premises to be made, subject only to the limitations contained in this Agreement. Any
single repair or alteration involving an expenditure in excess of Five Hundred and 00/100
Dollars ($500.00) and not expressly set forth in the Budget (as hereinafter defined) shall be
made only with the prior written approval of the Owner, but repairs immediately necessary
for the preservation or safety of the Premises or the occupants thereof or other persons, or
required to avoid the suspension of any necessary service in or to the Premises
(" Emergenc�Repairs"), may be made by the Agent with the prior verbal approval of the
Owner, provided the Agent acts reasonably in making such repairs and alterations;
(c) cause all such acts and things to be done in or about the Premises as shall be
necessary or desirable to comply with any and all orders of, or to remove any and all
violations affecting the Premises placed thereon by, any federal, state, county or municipal
authority having jurisdiction thereover, and if failure promptly to comply with any such
order or to remove any such violation would or might expose the Owner or the Agent to
criminal liability, the Agent may cause such order to be complied with or such violation to
be removed in the same manner and subject to the same requirements set forth above for an
Emergency Repair;
(d) enter into contracts for maintenance, telephone, janitorial, rubbish removal,
security services, fire sprinkler and fire alarm testing and inspection, pest and vermin
extermination, architects and engineers services required for the planning and supervision
of alterations and/or repairs made or proposed to be made to the Premises, and other
services as shall be advisable, but any such recurring service contract having a term longer
than ninety (90) days AND not expressly set forth in the Budget (as hereinafter defined)
must be authorized in writing by the Owner;
3
(p) if requested by the Owner, procure and maintain, at the Owner's sole cost
and expense, liability insurance policies with coverage and from carriers satisfactory to the
Owner, with a combined single limit with respect to each occurrence in an amount
specified by the Owner for injury (or death) and damage to property with not less than
thirty (30) days cancellation required, each such policy to name the Owner as an insured
and the Agent as an additional insured; promptly notify the Owner and the insurance carrier
of any personal injury or property damage occurring to or claimed by any person on or with
respect to the Premises; and forward to the insurance carrier any summons, subpoena or
other similar legal document served upon the Agent relating to actual or alleged potential
liability of the Owner, the Agent or the Premises;
(q) the Agent shall implement the "Initial Budget" as attached hereto as Exhibit
B and shall be authorized to make the expenditures and incur the obligations provided for
according to the Claim Payment Process;
(r) prepare and submit to the Owner, on or before October I st of each calendar
year of the term of this Agreement, for the Owner's consideration, a budget (the `Budget")
setting forth the estimated receipts and expenditures for the operation and management of
the Premises for the next succeeding calendar year. Within thirty (30) days of receipt of
the Budget, the Owner will submit to the Agent a revised Budget, which shall set forth any
revisions in the Budget that the Owner shall deem appropriate and which revised Budget
shall be deemed approved by the Owner. The Agent shall implement the revised Budget
and shall be authorized to make the expenditures and incur the obligations provided for
according to the Claim Payment Process;
(s) within fifteen (15) days of the end of each calendar month, prepare and
submit to the Owner a monthly financial package detailed on Exhibit A including a
statement of the income and expenses for the Premises for such month;
(t) cause an inventory to be taken at least annually of all furniture, office
equipment, materials, maintenance tools, supplies, and any other major equipment or
material belonging to the Owner;
(u) enforce sign control and place and remove, or cause to be placed and
removed, such signs at the Premises as the Owner requests or approves; and
(v) generally, provide services deemed necessary or requested by the Owner for
the proper management of the Premises.
4. Subcontract Management Services.
Agent shall have the authority to subcontract the management services listed herein
with the prior written consent from Owner, which shall not be unreasonably withheld,
conditioned, or delayed, when necessary to properly maintain and operate the Premises.
Agent shall be responsible for obtaining bids, hiring, supervising and paying the fees of any
such sub -manager.
5
(e) purchase in reasonable quantities and at the best available prices and
quality, all supplies which shall be necessary to properly maintain and operate the Premises
and conform to all applicable governmental codes;
(f) check all invoices received for services, work and supplies ordered in
connection with maintaining and operating the Premises and pay such bills from time to
time using the Claim Payment Process (hereinafter defined);
(g) supervise the moving in and out of occupants of the Premises and arrange
the dates thereof so that there shall be a minimum of disturbance to the operation of the
Premises, and inconvenience to other occupants thereof;
(h) bill or cause to be billed tenants of the Premises rent, operating expenses,
taxes and other amounts payable by such tenants under their respective leases, and use
reasonable efforts (short of litigation) to collect such amounts;
(i) consider and, when reasonable and consistent with the Owner's obligations,
attend to complaints of tenants of the Premises in a timely manner, avoiding unreasonable
delays;
0) cause to be prepared and filed all necessary forms relating to the
maintenance and operation of the Premises required by any federal, state, county or
municipal authority;
(k) within fifteen (15) days after the end of each month render or cause to be
rendered to the Owner regular monthly statements in the form attached hereto;
(1) set up and maintain orderly and accurate files containing payment records,
correspondence, receipted bills and vouchers and all other documents and papers pertaining
to the Premises and the operation and maintenance thereof, and make same available to the
Owner, the Owner's employees, officials, officers, accountants, lenders, attorneys and other
representatives, and deliver the same to the Owner or its agent upon termination of this
Agreement;
(m) provide accounting services as identified on Exhibit A and cooperate with
the Owner's employees, officials, accountants, auditors, and other representatives in regard
to the inspection of the books of account of the Owner;
(n) cooperate with the Owner's employees, officials and accountants in regard
to the preparation and filing on behalf of the Owner of federal, state, city and any other
income and other tax returns required by any governmental authority;
(o) cooperate with the Owner's employees, officials and real estate tax advisor
in the preparation of applications for correction of the assessed valuation and/or real estate
tax liability for the Premises;
4
5. Leasing.
Agent, at Owners request, shall provide leasing services for the Premises. Owner shall
pay Agent for time spent on leasing activities in the form of a commission at a rate 4% of
the base rent amount for any new lease or renewal, provided that on a month to month
extension, the commission shall be at a rate of 4% of the base rent amount for the first
month's rent only.
6. Scope of Agency.
(a) The Owner authorizes the Agent, for the Owner's account and on its behalf,
to the extent specified herein, to perform any lawful act or do anything lawful and
necessary or desirable in order to carry out the Agent's agreements contained in Section 3
hereof.
(b) Everything done by the Agent in compliance with the provisions of this
Agreement shall, except where the context otherwise requires, be done as agent of the
Owner, and any and all obligations, costs or expenses incurred by the Agent in such
performance of its obligations under the Agreement shall be bome by the Owner and not by
the Agent; provided, however, that the Agent shall not be compensated for its home office
overhead or the compensation of personnel of the Agent above the level of property
manager. Home office overhead shall not include overnight or other shipping or postage
expenses, specialized software or licenses required by owner, bank or any other third party
fees specific to the management of the Premises. Any payments made by the Agent
hereunder shall be made out of such funds as the Agent may from time to time hold for the
account of the Owner or as may be provided by the Owner. The Agent shall not be
obligated to make any advance to, or for the account of, the Owner or to pay any amount
except out of funds held or provided as aforesaid, nor shall the Agent be obliged to incur
any extraordinary liability or obligation unless the Owner shall furnish the Agent with the
necessary funds for the discharge thereof.
7. Claim Payment Process.
The Owner shall establish an account (the "Bank Account"), which shall be used
exclusively for the collection and payment of funds for the management and operation of
the Premises. Upon receipt of an invoice for a claim for goods or services related to the
management or operation of the Premises, the Agent shall draft a check from the Bank
Account. Agent will then submit the invoice and unsigned check to the Carmel Clerk
Treasurer's Office for approval, signature and subsequent dispersal to the claimant. Owner
shall provide reasonable view -only access to the Bank Account to the Agent..
8. Management Fee.
As compensation for the services to be rendered hereunder, the Owner shall pay to
the Agent a monthly fee equal to the greater of five percent (5%) of gross cash receipts or
6
Two Thousand and No/100 Dollars ($2,000.00). The management fee shall be payable
within forty-five (45) days after Owner's receipt of the invoice setting forth the calculation
of such amount due. Such compensation shall be pro -rated for any portion of a month for
which the Agent shall be employed by the Owner pursuant to the teams hereof.
9. Indemnity Obligations of the Owner.
Owner agrees to indemnify the Agent from and against all claims, losses and
liabilities (including, without limitation, reasonable attorneys' fees and disbursements)
suffered, paid or incurred by the Agent in connection with or arising out of acts or
omissions of the Owner or the Owner's agents, employees, contractors and subcontractors.
The provisions of this Section 9 shall survive the termination of this Agreement.
10. Indemnity Obligations of the Agent.
Agent agrees to indemnify the Owner, its agents, employees, officers and officials
(other than the Agent) and hold them harmless from and against any claims, losses and
liabilities and expenses (including, without limitation, reasonable attorneys' fees and
disbursements), suffered, paid or incurred by the Owner in connection with, or arising out
of any act or omissions of the Agent, its agents, employees, contractors or subcontractors,
except in such event where such act was taken or omitted at the express direction of the
Owner. The provisions of this Section 10 shall survive the termination of this Agreement.
11. Waiver of Subrogation.
The Agent is (i) to be included as an additional insured under Owner's general
liability insurance covering inherent and operational hazards associated with the
management of the Premises, and (ii) to receive a waiver of all direct damage insurer's
rights of subrogation against Agent under all direct damage insurance policies covering
the Premises.
12. Notices.
All notices, demands, requests, consents, approvals and other communications
required or permitted to be given hereunder, or which are to be given with respect to this
Agreement, shall be in writing and shall be deemed delivered upon the personal delivery
thereof, or by delivery by facsimile electronic transmission, or on the next business day
following service, provided such notices shall be addressed or delivered to the parties at
their respective addresses set forth below, or, if to be delivered by electronic facsimile
transmission, then to the facsimile telephone numbers set forth below. Copies of any
notices delivered hereunder shall, concurrently with the delivery thereof, be delivered to the
additional parties listed below by the same means of delivery used for delivery of the
notices to the contracting parties (except in the case of personal delivery, in which case
either one or more of the alternate means of delivery may be selected for the delivery of
copies):
7
With respect to deliveries to the Owner:
City of Carmel
One Civic Square
Carmel, Indiana 46032
Attn: Director of Administration
With a Copy to:
City of Carmel
One Civic Square
Carmel, Indiana 46032
Attn: Corporation Counsel
With respect to deliveries to the Agent:
Lauth Management, LLC
Attn: Lease Administrator
111 Congressional Boulevard, Suite 300
Carmel, IN 46032
Telephone No. 317-848-6500
Facsimile No. 317-848-6511
All costs and expenses of the delivery of notices hereunder shall be borne and paid
for by the delivering party.
13. Severability.
If any term or provision of this Agreement or the application thereof to any person
or circumstances shall, to any extent, be invalid or unenforceable, the remainder of this
Agreement, or the application of such term or provision to persons or circumstances other
than those as to which it is held invalid or unenforceable, shall not be affected thereby, and
each term and provision of this Agreement shall be valid and be enforced to the fullest
extent permitted by law.
14. Governing Law.
This Agreement shall be construed and enforced in accordance with the internal
laws of the State of Indiana.
15. No Assignment.
Neither this Agreement nor the right to receive payments hereunder may be
assigned by the Agent without the prior written consent of the Owner and any purported
assignment without such prior written consent shall be void and of no effect.
8
16. Binding Effect.
Subject to the provisions of Section 15 hereof, all of the covenants, conditions and
obligations contained in this Agreement shall be binding upon and inure to the benefit of
the respective successors and assigns of the Owner and the Agent to the same extent as if
each such successor and assign were in each case named as a party to this Agreement.
17. Compliance with Laws.
All parties shall comply with all applicable Federal, State and Local laws, rules,
regulations and ordinances with respect to this Agreement. Agent certifies, by signing
and submitting this Agreement, to the best of its knowledge and belief that it has
complied with the applicable provisions of Section 1352, Title 31, U.S. Code. Agent
represents and warrants that the Agent and its subcontractors, if any, shall obtain and
maintain all required permits, licenses, registrations and approvals, as well as comply
with all health, safety, and environmental statutes, rules, or regulations in connection with
the performance of the Agent's obligations hereunder. Agent affirms under the penalties
of perjury that it does not knowingly employ or contract with an unauthorized alien and
shall not retain an employee or contract with a person that it subsequently learns is an
unauthorized alien. Agent specifically agrees that it, (a) will not discriminate against any
employee, applicant for employment to be employed in the performance of this
Agreement, with respect to hire, tenure, terms, conditions, or privileges of employment
because of race, religion, color, age, sex, handicap, national origin or ancestry, disabled
veteran status or Vietnam era veteran status; (b) is enrolled in and uses the E -Verify
program of the Illegal Immigration Reform and Immigration Responsibility Act of 1996,
as amended, (the "E -Verify Program") to verify the work eligibility status of all Agent's
employees hired after Agent's enrollment in the E -Verify Program unless the E -Verify
program no longer exists, and will otherwise comply with Indiana Code 22-5-1.7 as to
any subcontractor used by Agent; and (c) does not knowingly employ or contract with
any authorized alien. Pursuant to Indiana Code 5-22-16.5, Agent certifies that it does not
engage in investment activities within the Country of Iran. Breach of these covenants
shall be deemed a material breach of the Agreement and the Owner may terminate the
Agreement with verbal notice to Agent.
18. Breach.
In the event either party hereto breaches or otherwise defaults under or with
respect to any of the terms and conditions of this Agreement, then such party shall be
liable and responsible for all losses, liabilities, costs and/or expenses, including without
limitation, attorneys' fees and the costs of enforcing the terms of this Agreement as may
be awarded to the prevailing party by a court of competent jurisdiction, and all other legal
and equitable remedies, including, without limitation, injunctive relief.
19. Agent as Independent Contractor and Agent's Employees.
9
It is understood and agreed that the Agent is an independent contractor and this
Agreement is not intended to provide or create any master/servant relationship between
the Agent and the Owner.
The Agent shall have in its employ at all times a sufficient number of capable
employees or subcontractors to enable it to properly, adequately, safely and
economically, provide services under this Agreement. All matters pertaining to the
employment, supervision, compensation, promotion and discharge of such employees or
subcontractors is the responsibility of the Agent and the Owner shall have no liability
with respect thereto.
20. Fidelity Bond:
The Agent shall obtain a fidelity bond, in form and substance and issued by a
company reasonably acceptable to the Owner, covering all personnel of the Agent who
have access to funds of the Owner. Such fidelity bond shall be in an amount equal to the
total of all Owner funds to which the Agent has access. The cost of such fidelity bond
shall be the expense of the Agent. The Agent shall provide the Association with a copy of
such fidelity bond prior to the Effective Date.
[Remainder of Page Intentionally Blank; Signature Page Follows]
10
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the Effective Date.
OWNER: CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
By: Lr�-)
/r e/
It s B 'nard, Presiding O
By:
Mary A>ui Burke, Member
51
Lori Watson, Member
ATTEST:
Christine S. Pauley, Clerk -Treasurer
AGENT: LAUTH MANAGEMENT, LLC
By:
J n than L. Goodburn, thief Financial Officer
KD_8901548_3.docx
Exhibit A
Accounting Services
1.) Bill base rents and additional rents to tenants on a monthly basis
2.) Collect base rents and additional rents from tenants on a monthly basis
3.) Prepare Year End Reconciliations
4.) Pay operational expense on behalf of Owner as they relate to the Premises
5.) Provide Owner with monthly financial statements
6.) Work directly with outside auditors if required
7.) Provide tax information to Owner's tax preparer
Exhibit A to
Property Management Agreement
Exhibit B
Initial Budget
Exhibit B-1 to
Property Management Agreement
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Exhibit B-2 to
Property Management Agreement
Prepared For.
Prepared lay;
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Mot•awx investments, LLC
LaUth Management,
gement, LLC •Keenan Med
Software Evaluation Copy
Software:
Kardn Budge( System
Property ID:
9090600
J4sr17
Version.
35.02
Property RSF;
15,867
Nov -17
Fite:
Mohawk - 2017 GUdget.Om3
Cost Cevtter(s) RSP:
15,867
Mohawk - 2017 Budget
�
Pate:
12I612018
F6rOpet
8lxper
Budpel
Page:
3 Of 4
Badge,
Butlget
2017 Monthly Budget Detail
61x1gM
B1ldgat
.1an17
Feb -17
Mer -17
AprA7
May -17
J4sr17
,tut -17
Aug -17
Sep -17
Or417
Nov -17
Dol -17
Tma1
S+iSF
Budget
0u0ge1
F6rOpet
8lxper
Budpel
&ragel
Bufyet
Badge,
Butlget
6u0get
61x1gM
B1ldgat
TOTAL PROFESSIONAL FEES
Aoco." and Al09ng F
0
0
0
0
1250
0
b5815.000110
0
0
O
0
0
0
1250
008
O
Total TOT AL PpOFESSIONAL FEES
0
0
0
0
1,250
0
0
TOTAL NON-RECOVERABLE PROPERTY EXPEN
0
0
0
0
0
1,250
000
8210.00000 Ebur -NR
142
142
142
142
142
M2
142
142
142
142
142
142
8240.00000 Gas -NR
250
250
250
250
2%
250
250
25D
250
250
1,704
0,11
7' m
8250.00000 Water - NR
102
102
102
102
102
102
250
150
3p00
0.19
W X
8800-00000 RM PNxnbwV • NR
0
0
0
715
102
102
102
102
102
102
1,225
0.08
=
0
0
0
530
0
0
0
0
1.245
0.08
Al d+
Tole1 TOTAL NON-RECOVERABLE PR
494
494
494
1,200
494
0.01
4119
7,021
N rF
404
494
484
494
7,774
0.45
Total Operating Elmensee • Unriw enble
494
494
494
1.209
1,744
494
Ago
CD
I,Q24
494
494
484
494
642d
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W
O
NedOPwaln9 I1XX W
12,800
12,890
12,765
10.882
2,001
10.000
6.323
13,420
16.764
14,090
3,147
16.759
133.432
841
W
Debt Service
-1
0
CD
TOTAL INTEREST EXPENSE
GN05.00000 ir!lerelt Espu .r
0
0
0
0
0
CD
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0
0
0
O
3970
3.842
7.812
0.49
Total TOTAL INTEREST EXPENSE
O
O
0
a
0
O
Y
0
0
0
0
3,970
3,842
7,812
0.49
Total Debt Service
0
0
0
0
O
0
0
0
0
0
3,970
3,842
7,811
0 a9
Cash Ff.. cher Dahl Ssrriee
12880
12.890
12.765
10,882
2,801
101000
8.323
13,4;9
18.764
14.990
-1123
t2.917
t25.620
7
Capital Expenditures
TOTAL BUILDINGS AND INPROVEIMENTS
1535.0000E &wldirg ln4xovs+nenls
0
0
O
U
0
35.071)
1540.0000D Ts-41lrprovemenis
0
0
0
0
9,800
35.100
0
0
0
0
0
0
35000
2.21
0
0
20,740
0
0
0
65,840
4.14
Total TOTAL BUILDINGS AND IMPROV
0
0
0
0
8.800
70,100
0
0
20.740
0
O
0
104640
6.34
NET LEA8MT3 COSTS AND RELATED WTANGIS
167100000 Le—C.enwNeskns
0
0
0
0
2.022
0
0
0
5.9-3
0
0
0
8,796
0.55
Prepared For:
Mohawk Invesiments, LLC
Prepared By.
Lauth Management, LLC - Keenan Med
Property 10:
9090600
Property RSF:
15,867
COSI Center(s) RSF. 15,857
Software Evaluation Copy
Mohawk - 2017 Budget
2017 Monthly Budget Detail
Software:
Karlin Budget System
Version,
35.02
File:
Mohawk • 2017 BudgeLDm3
Date:
12/6/2016
Page:
4 of 4
ToW NET LEASING COSTS ANO RELA 0
0
0
0
2,822
0
0
0
5.973
0
0
0
8.798
OS.5
TMaI Q: pwr Expwxl1ul% 0
0
0
0
12,622
70.100
0
0
O
26,773
p
0
O
100.436
6.90
Ceah Row altar CaPllal t:aPatldauas 12.89012.890o
12.766
10.882
•10,022
-60, IOD
8.323
13.420
-9.949
14.m-923
12,917
16.764
7.0
Expenses/Adjustments for Net Income
O"Iw*rti- f Amorllaaden Ecp9
9035.D000O Daprn0iftow Egwroa-RE 2.833
2.833
2,633
2833
2,833
21833
2.833
2.823
2,83.3
9005.001700 Amonimlion Eglanle RE 300
307
300
300
300
301)
64
0
0
0
26.a9T
1.01
C9 .+
64
64
r
O
0
1.992
0.13
Total DepreciaWn 6 AMrtizalion Expen 91133
3.133
3.!33
3.133
3.133
3.133
2697
2.997
2,887
TOTAL AMORTIZATION Of F64ANCING COSTS
0
0
0
27,469
1.73
e� r+
9123.00D00 Immist Exp • Finan&& Co 61
64
54
54
64
64
300
O
300
app
0
D
O
1.281
0.06
aQ
To1a% TOTAL AMORTIZATION OF FINA 64
G
64
64
64
64
f9
3W
3Up
app
0
D
O
i.Z84
0.06
(p
Tota( EVeft.WAdjuMenls for Nei V-. 3.197
3.107
3.19!
3.197
3.t97
3,197
3.197,
3.197
3.197
O
0
0
26,773
181
O
M
14�61ncoma 8693
9,sw
.W 9.
7.M
-596
6.603
3.126
10,223
13.567
14,990
x123
12.017
98,847
6.1