Specifications include, but are not limited to: 3.1 FOR OWNER'S ACCOUNT: The services of Manager in performing its duties and providing services pursuant to this Agreement shall be for the account of Owner. Owner agrees to be responsible for all costs, expenses and disbursements incurred by Manager under the terms of this Agreement such as, but not limited to: contracts for cleaning and janitorial service, landscaping, elevator services, maintenance services, security services, on-site supplies and equipment, on-site office rent, on-site telephone, stationery, postage, and salaries, wages and related costs of those engaged exclusively in the maintenance and operation and of the Project. Manager will not incur any expenses or make any expenditure except as expressly permitted in this Agreement. 3.2 STANDARDS: Manager shall manage, operate and maintain the Project in a cost effective manner normally associated with the management and operation of a quality retail shopping center which shall include maintaining the property in a clean, safe, operable, attractive condition comparable to similar properties in the area. The Manager shall act in a fiduciary capacity with respect to the proper protection of and accounting for the Owner's assets held by Manager, or which are subject to the control and management of Manager pursuant to the terms of this Agreement. At Owner's request, Manager shall obtain fidelity bonds for employee's handling Owner's funds held by Manager. 3.3 FINANCIAL REPORTS AND RECORDS: Manager shall maintain adequate and separate books and records for the Project as provided by its property management system, which shall be supported by proper documentation consistent with the following requirements. Such accounting shall be in accordance with generally accepted accounting principles consistently applied. Manager shall insure such control over accounting and financial transactions as is reasonably required to protect Owner's assets from theft, error or fraudulent activity.
