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1 MANAGEMENT AGREEMENT <br /> MANAGEMENT AGREEMENT <br /> <br />THIS AGREEMENT is effective this __ day of ___ , between ______, a ____, with its <br />principal place of business located _____ (hereafter referred to as "Owner") and ____, a ____, <br />with its principal place of business located at ____ (hereinafter referred to as "Agent"). <br /> <br />WITNESSETH: <br /> <br />In consideration of the terms, conditions and covenants hereinafter set forth, Owner and <br />Agent mutually agree as follows: <br /> <br />Section 1. Definitions. <br /> <br />As used in this Agreement: <br /> <br />1.1. "ACC" shall mean the amended annual contributions contract dated December 21, <br />1998 between the MPHA and HUD. <br /> <br />1.2. "Authority Units" shall mean the ten (10) low income public housing units to be <br />located within the Development pursuant to the Housing Agreement and for which <br />the MPHA is obligated under the MPHA Regulatory Agreement to provide certain <br />operating subsidies. <br /> <br />1.3. "City" shall mean the City of Mounds View, Minnesota. <br /> <br />1.4. "Consent Decree" shall mean the consent decree entered in the case of Hollman et <br />al. v. Cisneros et al., U.S.D.C. (Minn. Dist., 4th Div.) Civil No. 4-92-712. <br /> <br />1.5. "Development" shall mean the real property and the improvements, buildings, <br />appurtenances and equipment thereon, known as Silver Lake Commons, located in <br />the City of Mounds View, County of Ramsey, State of Minnesota, and consisting <br />of fifty (50) dwelling units, forty (40) garage spaces to be rented, and no <br />commercial space but one non-dwelling community space. <br /> <br />1.6. "HUD" shall mean the United States Department of Housing and Urban <br />Development.