Leasing & Property Management Agreement

Please complete the form below.

SUMMARY INFORMATION SECTION (Please be sure to complete one contract per entity)

TERM: Start Date: As per the Date Above-End Date: 12/31/26
TERMINATION: This Agreement may be terminated by either Owner or Broker, with or without cause at any time with thirty (30) day written notice. (please see Agreement for specific details):
Mailing Address:
SECURITY DEPOSITS: Will be held by ELITE Rental Properties Inc. in their Escrow Account at Bank of America.
PRE-PAYMENTS OF LAST MONTH'S RENT: Will be held by the Owner.
GENERAL MAINTENANCE:
EMERGENCY MAINTENANCE:

PROPERTY INFORMATION SECTION

Please select one of the following. If you currently have a portfolio (more than one property) once your agreement has been received we will email you a list of the properties. Once received please review the list of properties and respond "Correct" or provide any corrections to the list as needed.
Full Property Address:
Services to be provided:
Agreed upon Monthly Property Management Fee:

LEASING & PROPERTY MANAGEMENT AGREEMENT

1. APPOINTMENT & ACCEPTANCE: Owner hereby appoints Broker as sole and exclusive agent of Owner, to operate, lease and manage the property described in the Property Information Section upon the terms and conditions provided herein. Broker accepts the appointment and agrees to furnish the services of its company for the leasing and management of the property; and Owner agrees to pay all expenses in connection with those services. As Broker for Owner, Broker owes Owner the duties of loyalty, obedience, disclosure, confidentiality, reasonable care and diligence, and full accounting. Broker must disclose all known material facts about the Property which could affect a tenants’ use or enjoyment of the property, disclose information which could have a material impact on either party's ability to fulfill their obligations under the lease agreement, respond honestly and accurately to questions concerning said property, and deal honestly and fairly with all parties. Broker shall promptly report to the Owner any and all adverse conditions related to the property or tenants which shall require the attention of the Owner.
2. BROKER'S REPRESENTATIONS: Due to the nature of our business, our office is by appointment only. We are available by phone 24 hours a day, 7 days a week, 365 days a year for emergency issues and business hours for all other issues.
3. OWNER REPRESENTATIONS: Owner agrees to make available to Broker all data, records and documents pertaining to the property which Broker may require to properly exercise Broker's duties hereunder. Owner represents the following: • they are the legal owner of the Property • they are current on their taxes, mortgage, insurance and will continue to be so • they know of no current defects regarding the Property • they know of no toxic or hazardous issues regarding the Property.
4. DESCRIPTION OF PROPERTY: Please see Property Information Section.
5. TERM: Please see Summary Information Section.
6. RENEWAL: Owner and Broker agree that the Broker will send Owner a new Leasing & Property Management Agreement with any changes before the end of each term. To avoid any interruption of service please sign and return Renewal Agreement immediately.
7. TERMINATION: This Agreement may be terminated by either Owner or Broker, with or without cause at any time with thirty (30) days written notice. If this Agreement expires or is terminated by either Broker or Owner, the Owner shall continue to be bound by all terms and conditions contained herein. If Owner or Broker terminates this Agreement, Owner shall be obligated to pay any amounts accruing to Broker prior to the termination date specified in such notice and shall be due and payable upon termination of this Agreement. To the extent that funds are available, such sums shall be payable from the Owner’s operating, reserve and escrow accounts. Any amount due in excess of the funds available shall be paid by Owner to Broker immediately. The termination of this Agreement shall not affect the right of Broker to receive leasing commissions or management fees which have accrued on, before or after the termination date specified in such notice. Owner agrees that all property management fees due at the time of termination will be paid in full and will not be prorated. Owner understands and agrees that Broker will not work with anyone other than Owner to close or transfer account if a termination or sale does take place. Owner and Broker agree that the Broker at their discretion may finalize all accounting earlier or up to sixty (60) days after termination is given. Owner understands once accounting has been completed Broker will no longer be bound by this contract.
8. RESPONSIBILITY FOR PAYMENTS: Upon termination of or withdrawal from this Agreement, Owner shall assume the obligations of any contracts or outstanding bills executed by Broker under this Agreement for and on behalf of Owner & responsibility for payment of all unpaid bills. In addition, Owner shall furnish to Broker security, in an amount satisfactory to Broker, against any obligations or liabilities which Broker may have properly incurred on Owner’s behalf under this Agreement. Broker may withhold funds for ninety (90) days after the end of the month in which this Agreement has terminated, in order to pay bills previously incurred but not yet invoiced and to close accounts. Broker shall deliver to Owner, within thirty (30) days after the end of the month in which this Agreement has terminated, any balance of monies due Owner or of tenant security deposits, or both, which were held by Broker with respect to the Property, as well as a final accounting reflecting the balance of income and expenses with respect to the Property, as well as a final accounting reflecting the balance of income and expenses with respect to the Property as of the date of termination or withdrawal, and all records, contracts, leases, receipts for deposits and other papers or documents which pertain to the Property.
9. PROCUREMENT FEE: Owner agrees to pay Broker a one-time fee of one hundred dollars ($100) for the initial Unit and fifty dollars ($50) for each additional Unit thereafter for the following services: a. Upload Owner b. Upload Property c. Professional Rental Survey d. Professional Marketing of the Unit e. Introduction Package to Tenant f. Introduction to Neighbors g. Introduction to Borough/Township authorities.
10. RESERVE: Immediately upon commencement of this Agreement, Owner shall remit to Broker the sum of five hundred ($500) dollars per unit to be held by Broker as a reserve. If reserve amount falls below the minimum required reserve any revenue collected will be used to replenish the reserve account. Please note that if you have several units under management your reserve amount may be different. Please contact Broker with any questions.
11. OPERATING EXPENSES: Broker is hereby authorized to pay or reimburse itself for all expenses and costs of operating the Property and for all other sums due Broker under this Agreement, including but not limited to the Broker’s compensation. Broker shall not make any mortgage, insurance or tax payments.
12. 3RD PARTIES: Owner shall be responsible for all communication, billing & payment for all 3rd party bills including but not limited to taxes, insurance, utilities, condo fees etc. Owner may forward paid bill in PDF format to Broker to be billed back to tenant at the cost of five ($5) dollars per bill per tenant. Broker cannot bill back unpaid bills to tenant or communicate, receive or pay third parties.
13. COLLECTION OF REVENUES: The Broker shall take all reasonable steps to collect and enforce the collection of all rental income and other charges due Owner from tenants of said property in accordance with the terms of their tenancies and report any delinquencies to the Owner once monies become past due beyond fourteen (14) business days. Broker does not guarantee the collection of rents. The Broker shall deposit all funds collected from the Property into a general operating account, except for tenants’ security deposits, which shall be placed in the Broker’s escrow account. Both accounts may also contain funds collected from other properties that Broker manages. Broker shall keep a full, complete and accurate record of all funds received and expended on behalf of the Property and Owner. Broker shall withdraw from operating account any and all payments that are necessary to discharge the Broker's responsibilities incurred under this Agreement and to make payment of compensation of Broker, subject to the limitations in this Agreement.
14. MONTHLY & ANNUAL STATEMENTS: Broker shall furnish to Owner a detailed statement of all income and expenses for each month, such statement to be furnished to the Owner on or before the fifteenth (15th) day of each month. Such statements shall show the status of income of the current month and the expenses of the previous month. Within sixty (60) days after the end of each calendar year Broker will furnish Owner with an annual statement of all income and expenses of the preceding year. Broker has the right to delay payments if there are insufficient funds in the account. In the event a payment is delayed by Broker Owner shall not be charged an out of cycle fee. Owner is responsible to review all monthly statements immediately upon receipt and to report any errors to Broker. Owner hereby consents to electronic 1099s.
15. OUT OF CYCLE STATEMENT/PAYMENT: If requested by Owner Broker shall furnish an out of cycle statement or payment at the cost of one hundred fifty dollars ($150) per event.
16. DISBURSEMENT OF NET PROCEEDS: To the extent that funds are available and after maintaining the reserve amount Broker shall transmit cash balances to Owner on or before the sixteenth (16th) day of each month. Such periodic cash balances shall be remitted to the following person(s), in the percentage(s) specified, and at the address(es) specified. In determining the amount to be disbursed Broker may set aside an amount reasonably necessary for reserves for future expenses and liabilities. Broker will not be held liable for bankruptcy, the delay or failure of the depository.
17. DEFICIENCIES & ADVANCE FUNDS: In the event that the balance of the Owner’s operating or reserve balance is at any time insufficient to pay disbursements due and payable, Owner shall immediately remit to Broker sufficient funds to cover deficiency and replenish the contingency reserve. In no event shall the Broker be required to use its own funds to pay such disbursements. Nor shall the Broker be required to advance any monies to Owner from any other account. If Broker elects to advance Owner monies it shall be considered a loan at the following rates: Origination Fee of $250 & Compounding Daily Interest of 10%.
18. LEASING SERVICES: Owner hereby authorizes Broker and Broker accepts the responsibility, authority and duties as to renting or leasing the Property. All security deposits shall be maintained in the escrow account of Broker except when the Owner is utilizing Leasing Services only in which case the security deposit will be transferred to Owner within sixty (60) days. Broker shall use all reasonable efforts to keep the Property rented by procuring tenants for the Property and negotiating and executing on behalf of the Owner of all leases.
19. LEASE VS. SALE: In the event the Owner wishes to market the property both for rent and for sale at the same time Owner agrees to the following: Owner must immediately notify Broker upon receiving a written purchase offer with deposit. Upon notification, Broker will immediately stop accepting Application Fees to rent the property until which time the Owner determines the offer will not be accepted or does not close. Conversely, Broker must immediately notify Owner upon accepting an Application Fee to rent the property. Owner agrees not to accept any purchases offers until potential tenant has been accepted or denied. Owner agrees that in the event the potential tenant meets all of the initial rental criteria established by the Owner, the Owner will accept them in accordance with Fair Housing Laws. In the event the Owner does not follow the above, Owner agrees to immediately pay a commission equal to one (1) month’s rent to the Broker as well as any damages caused to the potential tenant.
20. NO OTHER RENTAL BROKER: During the term of this Agreement, Owner shall not authorize any other person (including themselves or their sales agent), firm or corporation to advertise, market, show, negotiate or act as leasing or rental agent with respect to any upcoming or current vacancies. Owner agrees to promptly forward all inquiries regarding vacancies to Broker.
21. RENTAL RATES: Broker must obtain approval from Owner to establish or change any rental rates, move-in costs, security deposits or rental incentives during the marketing period.
22. MEDIA AUTHORIZATION: Owner hereby gives Broker permission to use and make changes to any and all media related items including but not limited to photographs, descriptions and videos provided by the Owner or found on the internet to market the Property. Owner agrees to give Broker photographic rights now and in the future on any photographs of properties rented by Broker to be used as the Broker sees fit.
23. MARKETING SERVICES: Broker will provide Owner with marketing services for each vacancy. If the Owner wishes to purchase additional marketing services they can do so at additional costs. Owner is aware that Broker may list other properties for rent and may show potential tenants other properties.
24. SIGNAGE: Owner hereby gives Broker permission to place signage on the property to both advertise vacancies and identify management as per the local government allows.
25. LOCKBOX: Owner hereby gives Broker permission to use lockboxes on the Property. The Owner agrees to hold Broker harmless with regards to any and all risks or liabilities associated with the use of lockboxes including self-showings. Owner agrees to use their own lockbox for personal use (i.e. contractor access etc.). Owner agrees at no time to give out the Broker's lockbox combination to anyone.
26. USE OF BROKER'S LEASE: Broker agrees to allow Owner to use Broker’s proprietary Lease at no additional cost with the understanding that the Lease remains confidential and that Owner will review or have their attorney review the Lease prior to signing to ensure any changes can be made in a timely manner. Any changes must be made in addendum format. Owner hereby gives permission to Broker to sign lease on Owner’s behalf upon finding an approved tenant.
27. FAIR HOUSING: Broker and Owner are bound by both Pennsylvania State & US Federal Fair Housing Acts. This means that the Broker and Owner cannot legally discriminate for the following reasons: number of children in a family, race, color, national origin, religion, sex, sexual orientation, familial status, and disability. The law applies to all types of residential housing.
28. POTENTIAL TENANT APPROVAL: Broker will conduct a full background check on each and every potential tenant that applies to occupy a vacancy. Broker will report all information to Owner. Owner must approve or deny applicant based on minimum rental requirements agreed to at the start of the marketing period (please see Marketing Information Form). If applicant(s) fit the minimum rental requirements Owner agrees to accept them as tenants.
29. INSURANCE & LIABILITY: Owner agrees to hold Broker harmless from all damage suits in connection with the leasing or management of said property and from any liability from injury suffered by any employee or other person whomsoever and to carry, at Owner's expense, adequate public liability insurance and to name Broker as additionally interest. Broker also shall not be liable for any error of judgment or for any mistake of fact or law, or for anything which Broker may do or refrain from doing hereunder, except in cases of willful misconduct or gross negligence. If suit is brought to collect Broker's compensation or if Broker successfully defends any action brought against Broker by Owner, relating to said property, or Broker's leasing or or management thereof, Owner agrees to pay all costs incurred by Broker in connection with such action, including reasonable attorney fees regardless of the outcome. Broker may select an attorney of its choice to handle such litigation.
30. ENFORCEMENT OF LEASE: Broker is authorized to institute in the Owner’s name, all legal actions or proceedings for the enforcement of any lease term, for the collection of rent or other income from the Property or for the evicting or dispossessing of tenants or other persons from the Property. Broker is authorized to sign and serve such notices as Broker deems necessary for lease enforcement, including but not limited to collection of rent or other income. Broker is authorized to settle, compromise and release such legal actions or suits or reinstate such tenancies. Any monies for such settlements paid out by Broker shall not exceed five hundred ($500.00) dollars without prior approval by Owner. Attorneys’ fees, filing fees, court costs and all other necessary expenses in connection with such actions and not recovered from tenants, shall be paid out of the Owner’s accounts or reimbursed directly to Broker by Owner immediately. Broker may select an attorney of its choice to handle such litigation.
31. OVERSIGHT FEE: The Broker will charge the Owner a fifteen (15%) percent oversight fee for all maintenance and repairs overseen by the Broker. This fee includes the following: a. Creating a work order b. Confirmation that the vendor is licensed and insured c. Obtaining Estimates for work over five hundred seventy-five dollars ($575) d. Providing twenty-four (24) hour notice to enter Property e. Providing vendor access to the Property f. Confirmation that all permits have been pulled g. Oversight of work h. Disbursement of funds to vendor. Owner understands that Broker offers maintenance and repair services as a courtesy and understands that Broker’s ability to find a qualified vendor with availability to complete work is not guaranteed. Owner also understands that all costs and estimates are priced on a per job basis and are not itemized. Any disputes are handled by the Owner and the vendor not ELITE.
32. MAINTENANCE, REPAIRS & VISUAL INSPECTIONS: The Broker shall oversee all purchases of materials, supplies & services necessary for proper maintenance and repair of Property. The Broker shall make payment for all of the following including but not limited to: repairs and maintenance up to five hundred seventy-five dollars ($575) per incident. Broker must obtain Owner approval for any items above that limit. Visual inspections will be scheduled and conducted at the cost of $150 per inspection. If the Owner chooses to conduct maintenance on the property they are responsible to pay for, schedule and conduct any re-inspections required. Service calls during business hours (9-5pm Monday through Friday, not including Holidays) are conducted at the cost of $200 per visit. After hours service calls are conducted at $300 per visit. If Owner wishes to conduct its own maintenance or hire its own contractors then the following applies: a. Broker will provide a work order for each maintenance issue b. Owner must only use licensed and insured contractors c. Owner is responsible for providing tenant with twenty-four (24) hour written notice to enter the property d. Owner is responsible for providing its contractors with keys to enter the property e. Owner is responsible for oversight of work and the satisfactory completion of work f. Owner is responsible for purchasing all materials and supplies to complete work g. Owner or Owner’s contractor are responsible to pull all permits h. Owner or Owner’s contractor are responsible to submit an invoice for work completed and to pay vendor. Owner or the Owner’s contractor must complete a work order within forty-eight hours (48) hours of issuance of word order.
33. EMERGENCY MAINTENANCE: Emergency repairs as may be required due to danger to life or Property or which are immediately necessary for the preservation and safety of the Property or the safety of the tenants and occupants thereof or required to avoid suspension of any necessary service to the Property or to comply with any applicable federal, state or local laws, regulations or ordinances shall be authorized by Broker.
34. RENOVATIONS, CONSTRUCTION & STRUCTURAL: Owner expressly withholds from Broker any power or authority to make any renovations, construction or structural changes in any Property or to make any other major alterations or additions in or to any such Property or to any equipment in any such building or to incur any expense chargeable to Owner other than expenses related to exercising the express powers vested in Broker though this Agreement without prior consent from the Owner.
35. BUILDING COMPLIANCE: Broker does not assume and is given no responsibility for compliance of the Property or any building thereon or any equipment therein with the requirements of any building codes or with any statute, ordinance, law or regulation of any governmental body or of any public authority or official thereof having jurisdiction, except to notify Owner promptly or forward to Owner promptly any complaints, warnings, notices or summonses received by Broker relating to such matters. Owner represents that to the best of Owner’s knowledge the Property and all such equipment comply with all such requirements and Owner authorizes Broker to disclose the ownership of the Property to any such officials and agrees to indemnify and hold Broker, its representatives and employees harmless of and from all loss, cost, expense and liability whatsoever which may be imposed by reason of any present or future violation of such laws, ordinances, statutes or regulations. Please note that the property must have a current rental license BEFORE Broker is able to fully market and show a vacancy.
36. MANAGEMENT COMMISSION: As compensation for the services provided by Broker under this Agreement the Owner shall pay a total monthly management fee of (see Summary Information) per unit per month which once rented will be calculated into a percentage of the gross monthly revenue received (Initial Monthly Management Fee/Monthly Rent=Monthly Management Percentage). That percentage will be used to calculate the monthly fee of the gross rental revenue received. All penalty fees indicated in the Lease & Tenant Handbook as well as the rental agreement (i.e. late fees, NSF charges, notice fees etc.) are also part of the Broker’s commission. The term “gross revenue” shall be deemed to include all rents and other income from the normal operation of the Property, including but not limited to rents, laundry income, pet fees, other fees and other miscellaneous income. Gross revenue shall NOT be deemed to include excess interest on security deposits or income arising out of the sale of the Property or settlement of fire or other casualty losses and items of similar nature.
37. TENANT COMMUNICATION: Due to the nature of our business Owner agrees that all communication from either a potential tenant or current tenant will be directed to the property manager at all times. Owner agrees if a potential tenant attempts communication the Owner will tell them to go to elitetenant.com and instruct them to fill out the pre-screening form. Owner agrees if a current tenant attempts contact, Owner will not take the call or respond to any communication including but not limited to text message, email or letter and will immediately forward the communication to the Broker. If Owner accidentally picks up the phone they must immediately tell the current tenant to call 855-535-4832 x3 and then promptly hang up.
38. LEASING COMMISSION (PROPERTY MANAGEMENT): If Broker secures a qualified tenant for the property the Owner agrees to pay the Broker one (1) full month’s rent for securing a one (1) year term and two hundred fifty ($250) dollars for each additional year beyond the initial one (1) year term (non-prorated). All leasing and renewal commissions are due once the lease is signed. Owner agrees that in the event this contract is canceled for any reason by either party all future unpaid commissions become immediately due regardless of tenant status. Leasing Commissions are non-refundable but are guaranteed for the life of the tenancy while this Agreement is active Owner hereby allows Broker if Broker so desires to work with other licensed real estate agents or brokers. If Broker chooses to work with other agents or brokers Owner allows Broker to choose the amount of commission, if any, to be shared.
39. LEASING COMMISSION (LEASING ONLY): If Broker secures a qualified tenant for the property the Owner agrees to pay the Broker one (1) full month’s rent for securing a one (1) year term and (½) half a month’s rent for each additional year beyond the the initial one (1) year term (non-prorated). All leasing and renewal commissions are due once the lease is signed. All future unpaid commissions become immediately due regardless of tenant status. Leasing Commissions are non-refundable but are guaranteed for the life of the tenancy while this Agreement is active. Owner hereby allows Broker, if Broker so desires, to work with other licensed real estate agents or brokers. If Broker chooses to work with other agents or brokers Owner allows Broker to choose the amount of commission, if any, to be shared.
40. COMMISSION GUARANTEE: Broker hereby guarantees all leasing and renewal commissions in full as long as the Owner remains a client. In the event of an act of God (i.e. loss of job, natural disaster, death etc.) causes the tenant to vacate, prior to the end date of the lease, Broker will credit Owner one hundred and ten percent (110%) of any remaining prorated commission balance (as of the date of vacancy) towards the next lease up. This guarantee only applies to the portion of the Leasing Commission paid to Broker and does not apply if this Agreement is terminated by either Broker or Owner.
41. PROTECTION CLAUSE: If this Agreement is terminated by either Broker or Owner, Owner agrees to pay to Broker the Leasing Commission if the Owner leases the Property within the period of one hundred and eighty (180) days after termination to a potential tenant procured by the Broker. Upon termination Broker will supply Owner with a list of all procured potential tenants during that period.
42. SALE COMMISSION: The Broker will assist the Owner’s sales Broker by giving keys to enter the unit. The sales Broker will be responsible for giving the tenant twenty-four (24) hour written notice as required by law to show or inspect the Property. In the event the Property is sold to the tenant that was placed by the Broker, at any time during or after this Agreement, the Broker shall receive a sales commission of two & a half percent (2.5%) of the sales price which will be immediately due upon the transfer of the Property.
43. PURCHASE COMMISSION: The Broker may assist Owner in purchasing investment properties. In the event the Owner purchases property procured by the Broker, the owner agrees to pay the Broker a purchase commission of two & a half percent (2.5%) of the the sales price which will be immediately due upon the transfer of the property.
44. OTHER COMPENSATION: All rent belongs to the Owner; all other fees including but not limited to Application fees, forfeited deposits and forfeited move-in monies etc. are considered compensation to the Broker.
45. DISCLOSURE: Broker has informed Owner that broker may pay (and receive) referral fees, commissions, co-op commissions, rebates and bonuses to (and from) including but not limited to outside real estate agents and brokers, tenant referral companies, rental relocation companies, multiple listing companies builders, developers, home warranty companies, banks, contractors and vendors who assist Broker in the marketing, showing, monitoring, leasing, managing and maintaining of the Property etc.
46. FEES FOR LEGAL ADVICE: Owner shall pay reasonable expenses incurred by Broker in obtaining legal advice regarding compliance with any law affecting the Property or activities related to them.
47. REPRESENTATION: No other representations other than those expressed here have been made by either party. Any changes must be agreed upon in writing by both parties.
48. SAVE AND HOLD HARMLESS: Owner shall indemnify, defend, save and hold Broker harmless from including but not limited to all loss, damage, cost, expense (including attorney's fees), liability, or claims for personal injury or property damage incurred or about the Property.
49. PROFESSIONAL ADVISORS: Broker has informed Owner to seek professional advice regarding the legal and tax ramifications of this Agreement.
50. FORCE MAJEURE: Broker is not liable for failure to perform if such failure is as a result of Acts of God (including fire, flood, earthquake, storm, hurricane or other natural disasters), war, invasion, act of foreign enemies, hostilities (regardless of whether war is declared), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation, terrorist activities, nationalization, government sanction, blockage, embargo, labor dispute, strike, lockout or interruption or failure of electricity, internet or telephone service.
51. COMPLETE: This Agreement including any addendums to this Agreement between Owner and Broker with respect to the management and operation of the Property and supersedes and replaces any and all previous management agreements entered into or/and negotiated between Owner and Broker relating to the Property is covered by this Agreement. No change to this Agreement shall be valid unless made by supplemental written agreement executed and approved by Owner and Broker. Except as otherwise provided herein, any and all amendments, additions or deletions to this Agreement shall be null and void unless approved by Owner and Broker in writing. Each party to this Agreement hereby acknowledges and agrees that the other party has made no warranties, representations, covenants or agreements, expressed or implied, to such party, other than those expressly set forth herein, and that each party, in entering into and executing this Agreement, has relied upon no warranties, representations, covenants or agreements, expressed or implied, to such party, other than those expressly set forth herein.
52. RIGHTS CUMULATIVE; NO WAIVER: No right or remedy herein conferred upon or reserved to either of the parties to this Agreement is intended to be exclusive of any other right or remedy, and each and every right and remedy shall be cumulative and in addition to any other right or remedy shall be cumulative and in addition to any other right or remedy given under this Agreement to now or hereafter legally existing upon the occurrence of an event of default under this Agreement. The failure of either party to this Agreement to insist at any time upon the strict observance or performance of any of the provisions of this Agreement or to exercise any right or remedy as provided in this Agreement, shall not impair any such right or remedy or be construed as a waiver or relinquishment of such right to remedy with respect to subsequent defaults. Every right and remedy given by this Agreement to the parties to it may be exercised from time to time and as often as may be deemed expedient by those parties.
53. APPLICABLE LAW AND PARTIAL INVALIDITY: The execution, interpretation and performance of this Agreement shall in all respects be controlled and governed by the laws of the State of Pennsylvania. If any part of this Agreement shall be declared invalid or unenforceable, Broker shall have the option to terminate this Agreement by notice to Owner.
54. NOTICES: All notices pertaining to this Agreement shall be sent to the addresses stated in the Summary Information section.
Agreement:
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