Owner/Agent Agreement


Article 2 Owner



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hm-47-owner-agent-agreement-8-08
1.GENERAL EDUCATION-ENGLISH
Article 2



    1. Owner

The Owner is the person or entity identified as such in the Owner-Agent Agreement. The term Owner means the Owner or his authorized representative.




Article 3



    1. Agent

The Agent is the person or entity identified as such in the Owner-Agent Agreement. The term Agent means the Agent or his authorized representative.




Article 4



    1. Project

The Project is the housing development and appurtenant facilities owned by the Owner and identified as such in the Owner-Agent Agreement.




Article 5



    1. Division of Housing and Community Renewal

“DHCR” is the New York State Division of Housing and Community Renewal and the Commissioner thereof.





    1. Supervision

The Contract is subject to the Private Housing Finance Law of the State of New York, rules and regulations promulgated by the Commissioner and all orders and directives issued by the Commissioner and/or DHCR. It shall not be effective unless and until the approval of DHCR is endorsed thereon.


Article 6



    1. Personnel – Agent’s Employees

The Agent shall hire in its own name all personnel necessary for the efficient discharge of its duties hereunder, with the exception of project personnel as listed in the Management Plan and the Project’s operating budget approved by DHCR. Except as hereinafter provided, compensation for the services of Agent’s employees shall be the sole responsibility of the Agent. Subject to the approval of the Owner and DHCR, or at the direction of DHCR, the Agent shall employ a site manager consistent with the needs of the housing development. The Agent shall be reimbursed by the Owner for up to fifty percent (50%) of either the site manager’s entire salary and fringe benefits approved by DHCR or, in the event of a part-time site manager, a pro-rated portion of the salary and fringe benefits approved by DHCR.






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