1. It is hereby agreed and declared as follows:- 1.1. The Owner is the owner of the property the full details of which are given in the Particulars. 1.2 The Owner appoints the Managing Agent as its agent for the Letting and management of the Property and the Managing Agent accepts such appointment 2. The Owner agrees with the Managing Agent throughout the term:- 2.1 To ratify all acts deeds and things done by the Managing Agent in connection with the Management of the Property. 2.1 To reimburse the Managing Agent all expenses (as agreed with the Owner) property incurred in the management of the Property. 2.2 To pay to the Managing Agent its fee for the management of the Property at the rate stated in the Particulars. 2.3 To reimburse the Managing Agent all EMERGENCY EXPENDITURE incurred in the management of the Property up to a maximum of £150 WITHOUT PRIOR CONSENT OF THE OWNER. 2.4 To indemnify and keep indemnified the Managing Agent from and against any loss, damage or liability whether criminal or civil suffered (and legal fees and costs incurred) by the Managing Agent in the course of conducting the management) of the Property and resulting from: 2.5.1 neglect any of default of the Owner or its agents employees licensees or customers 2.5.2 any successful claim by any third by any third party in respect of any matter arising from the management of the property. PROVIDED that such liability has not been incurred through respect of any matter arising from the management of the property. 3. The Managing Agent will carry out the following duties:- 3.1. Inspect the property and advise on rent levels, the furniture and equipment required and any other related matters 3.2 Circulate and advertise the particulars of the property and erect the signboard at the property if so require 3.3 Arrange for prospective tenant(s) to view the property: negotiate and agree the terms of the tenancy in accordance with the owner’s instructions. 3.4 Obtain references as and when necessary either by telephone or in writing in respect of the prospective tenant(s). 3.5 Prepare all necessary and relevant tenancy documentation and arrange for the proper execution by all the parties concerned. 3.6 Prepare any inventory of all the fixtures, fittings and effects at the property is not provided by the Owner for annexing to the tenancy documentation. 3.7 Advise where applicable the British Telecom, the water, the Gas and Electricity Boards of the property. 3.8 Collect rent (together with any other payments) in accordance with the terms of the tenancy Agreement and account to the owner normally within working days of the due payment frequency as in particulars. 3.9 Renew or grant new tenancy agreements when possession of all part of the property is Available at the rent determined by the Managing agent to be in the Owner’s interest. 3.10 Regularly inspect the property for state of condition, repair and maintenance and submit to the owner for information and/or instructions copies of any reports made. 4. The owner hereby agrees to be responsible for the following matters:- 4.1 To notify and obtain the necessary consents (in respect of the letting of the Property), as appropriate, of the mortgage, the freeholder, the insurance company and any other party which as or may acquire an interest in the property. 4.2 To ensure that the buildings insurance and contents insurance ( if any) for the Property is not Affected by the letting. 4.3 To carry out any necessary works of repair and/or maintenance and to renew and/or replace any items of furniture and/or fittings at the property which may be required in accordance with the terms of the Tenancy. Agreement within three days of the date of being notified by the Managing Agent and/or tenant(s) 4.4 To appoint suitably qualified person (accountant or solicitor) to act on behalf of the owner in respect of taxation matters. 4.5 To advise the Post Office of the forwarding address of the Owner as the Managing Agent will not accept any responsibility for re-directing the mail 4.6 To supply the Agent with Corgi registered certificate and electric certificate where applicable 5. THIS AGREEMENT IS FURTHER SUBJECT TO the following TERMS and Conditions:- 5.1 All negotiations for a tenancy must be conducted through the Managing Agent 5.2 The Managing Agent’s fee is due and payable on the same date as each instalment of rent is due and payable and upon receipt of such rent the Managing Agent is authorized by the owner to make the agreed deduction there from. 5.2 The owner shall not visit the Property without prior arrangement with the Managing Agent 5.4 Whilst every care is taken in respect of finding suitable tenant(s) the Managing Agent will not accept any liability for any default in payment of the rent or any other breach of the Tenancy Agreement. 5.5 The security deposit paid by the tenant(s) shall be held by the Managing Agent as stakeholder throughout the term of the let. 5.6 Any notice in writing to the Owner(s) shall be deemed property served if sent by prepaid First class ordinary post to the last known address of the Owner(s). 5.7 The Managing Agent will immediately inform and/or advise the Owner of any branch of the Tenancy agreement which comes to the notice of the Managing Agent. 5.8 If the Owner fails to comply with any of the terms and conditions of the tenancy and/or Management agreement and such failure if capable of remedy is not remedied within 14 days of receipt of a written notice of such failure the Managing Agent may terminate this Agreement without further notice and the Owner shall be liable to pay the Managing Agent a fee equivalent to 10% of the gross income of the remaining terms of any tenancy Agreement under management subject to a minimum term of one year from the commencement date of the management. 5.9 The owner will not appoint any other managing agent or otherwise derogate from this Agreement BUT may at any time, if so enquire, terminate this agreement under the Management subject to a minimum term of one year from the commencement of Management. 5.10 The Managing Agent will have no legal liability to any tenant lessee or third party other than the owner. 5.11 The expiry or termination of this agreement shall be without prejudice to any rights which may have already accrued to either of the parties under this agreement. 5.12 This agreement shall terminate:- 5.12.1 On the Date of Expiry of Management mentioned in the Particulars. 5.12.2 By operation of Clause 5.8 and/or 5.9 hereof 5.12.3 If either of the parties fail to comply with any of the terms and conditions of This Agreement and such failure if capable of remedy is not remedied within 14 days of receipt of a written notice of such failure from the other party. 5.12.4 If any material change occurs in the management or control of Managing Agent and in particular any change of directors or partners of the Managing Agent dealing with the management of the Property save where agreed by the Owner in writing prior to any change. 5.12.5 If either of the parties engages in any conduct prejudicial to the Property or to the management of the property generally. All agreements on the part of either of the parties which comprises more than one person or entity shall be joint and several and the neuter singular gender throughout this agreement shall include all genders and plural and the successors in title to the parties. 5.13 The agreement will automatically invalidate all previous management agreements made between the owner and the managing agent. 5.14 If any party introduced by the Managing Agent subsequently purchases the Property either before or after entering into a tenancy agreement, a sale commission will be payable in line with that being currently charged by the Managing Agent. 5.15 The managing agent will not at no time disclose any details of this Agreement to any third party without the prior consent of the owner in line with the confidentiality clause under the Data Protection Act. IN WITNESS whereof the parties hereto have set their hands the day and year mentioned in the Particulars.