Property Management Agreement

This Property Management Agreement (“Agreement”) is between (“Owner”) and Oakmont Capital, LLC (“Manager”). Owner and Manager may be referred to collectively as the “Parties.”

Owner appoints Manager as the exclusive managing agent for the property known as: (“Property”)

The Parties agree to the following terms and conditions:

Owner hereby grants Manager full authority to manage, operate, lease, maintain, and protect the Property on Owner’s behalf to the fullest extent permitted under the laws of the State of North Carolina. Manager shall act as Owner’s lawful agent for all matters relating to the Property.

Owner grants Manager full authority to do any and all of the following, as legally permitted in North Carolina:

• Advertise and market the Property
• Screen, approve, hire, and remove tenants
• Execute, renew, modify, or terminate lease agreements
• Collect rents, late fees, security deposits, and other charges
• Serve notices (including late notices, lease violations, termination notices)
• File and prosecute summary ejectment (eviction) actions
• Hire attorneys and represent Owner in court proceedings relating to tenancy
• Enter into payment plans or settlements
• Hire, supervise, and terminate contractors and vendors
• Make repairs, maintenance, and improvements
• Contract for utilities, lawn care, pest control, HVAC, plumbing, electrical, etc.
• Approve repair expenses deemed reasonably necessary
• Access the Property as needed
• Handle insurance claims
• Communicate with HOAs, municipalities, and government agencies
• Pay property expenses from collected rents
• Maintain trust accounting as required by NC law
• Take any action reasonably necessary to protect the Property or Owner’s interest
• Manager may sign documents on Owner’s behalf relating to leasing and management matters

Owner agrees to:

• Provide clear, marketable title to the Property
• Maintain adequate property and liability insurance
• Fund necessary repairs if rental income is insufficient
• Promptly cooperate with management decisions
• Indemnify Manager except in cases of gross negligence or willful misconduct

Owner acknowledges Manager does not guarantee rental income, tenant performance, or property condition.

Owner agrees to compensate Manager as follows:

Percentage-Based Fee: of gross monthly rent collected OR Flat Monthly Fee: $ per month.

Management fees shall be earned and payable monthly and deducted from rents collected prior to disbursement to Owner. If rents collected are insufficient to cover the agreed fee, Owner agrees to pay the deficiency within five (5) days of written notice.

Leasing Fee (if applicable):

Additional services outside the scope of ordinary management may be billed separately upon written agreement between the Parties.

All tenant funds shall be handled in compliance with North Carolina trust accounting requirements. Security deposits shall be maintained in accordance with applicable North Carolina General Statutes.

This Agreement shall begin on and continue month-to-month unless terminated by either Party with thirty (30) days written notice. Manager may terminate immediately for nonpayment of fees, lack of cooperation, legal exposure, or material misrepresentation by Owner.

Manager shall not be liable for loss, damage, or injury to persons or property except in cases of gross negligence or intentional misconduct. Owner agrees to indemnify and hold Manager harmless from claims, lawsuits, damages, or expenses arising out of ownership or operation of the Property, except in cases of Manager’s gross negligence or willful misconduct.

If legal action is necessary to enforce any provision of this Agreement, the prevailing party shall be entitled to reasonable attorney fees and costs.

This Agreement constitutes the entire agreement between the Parties. No other representations have been made or relied upon. If any provision is found invalid or unenforceable, the remaining provisions shall remain in full force and effect.