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Form #988Agreement to Manage Hotel
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Agreement to Manage Hotel - Free Legal Form
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Agreement to manage
hotel.
Agreement made this _________, 19__, between _________
of _________, owner, and _________ of _________, manager.
Recitals:
Owner is desirous under certain conditions of having
manager manage owner's hotel at _________, and later on possibly lease the
same, which management and possible leasing manager is desirous of obtaining
under the following conditions agreed to by parties:
1. That manager, from and after the date of this
agreement, shall have entire and complete control of the management and running
of hotel (except the right and privilege of owner to enter upon the hotel
premises at any time for purpose of inspection and investigation), for a period
of time, on an annual renewable contract basis, which period of management,
however, shall in no case exceed a period of _________ years, but can be
shortened as provided for below.
2. The compensation of the manager, as such sole
manager, to be one-half of each month's profits, arising from running of hotel,
each month to be figured independent of, and irrespective of the profits or losses
of any other month; and which profits are to be figured upon a basis of first
deducting the sum of $_____ per month, as rental to be paid to owner, and all
other necessary expenses and repairs incidental to the running of hotel (taxes,
insurance and outside repairs excepted, all of which owner agrees to assume and
pay). If, through the gross negligence, or lack of proper supervision or
attention by manager, the proceeds from the running and management of hotel,
for any full month, is insufficient to pay above-mentioned rental, expenses and
repairs, and manager does not pay the same, then the owner shall have the right
to terminate manager's sole management of hotel, by giving a _________ days'
notice in writing of such termination.
3. At the expiration of above-named period, owner, if
so requested by manager, agrees that manager, or a corporation to be formed by
manager for that purpose, shall have a written lease of hotel for the balance
of the above-named _________ years, at a rental of $_____ per month, payable in
advance; lease to be the usual printed form of lease, but to especially provide
for the payment of all taxes, insurance and repairs on building, by manager or
corporation; and for the giving by manager or corporation to owner, of a security
interest in furniture, furnishings and fixtures, described in this agreement,
as collateral security for performance by manager or corporation of covenants
of the lease.
4. The manager, or a corporation to be formed by
manager for that purpose, shall, at any time, have a written lease of hotel for
the balance of above-named _________ years, all in accordance with above-named
written leasing, by paying to owners, the balance then owing on furniture,
furnishings and fixtures, payable as follows: any amount then owing up to
$_____ in cash, and the balance, if any, at the rate of $_____ a month,
including interest at _____% per annum, beginning _________ days after the
payment of $_____ in cash.
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not be construed as legal advice. You are strongly encouraged to consult competent
legal council before engaging in any action based upon content contained on this
site.
These downloadable forms are only for personal use. Retransmission, redistribution,
or any other commercial use is prohibited. This includes reposting forms from this
site to another site offering free legal or other document forms for download.
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form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
to make sure that your needs are being properly and completely satisfied.
Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
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