WI0500180_Application Attachment_20231212

DocuSign Envelope ID: CCBBEC5D-37A1-4D3A-8E3A-EF54F9D1DCEC
PROPERTY MANAGEMENT AGREEMENT
THIS PROPERTY MANAGEMENT AGREEMENT, made the 3rd day of
September, 2021, between NP LODEN DURHAM, LLC, a North Carolina limited liability
company (hereinafter referred to as "Owner"), and YORK PROPERTIES, INC. OF RALEIGH,
a North Carolina corporation, (hereinafter referred to as "Agent").
WITNESSETH:
WHEREAS, Agent is experienced in the business of operating, managing, and leasing real
estate; and
WHEREAS, Owner desires to engage the services of Agent to operate certain property and
Agent desires to provide such services on the following terms and conditions;
NOW, therefore, in consideration of the mutual covenants contained herein, the parties
agree as follows:
l . EMPLOYMENT OF AGENT. Agent is hereby designated as the exclusive agent
and representative of Owner for the purpose of managing for the account of Owner the following
described property (hereinafter referred to as the "Property").
The property located at: 107 E. Parrish Street
Durham, North Carolina 27701
2. DUTIES OF AGENT. The duties and responsibilities of Agent in connection with
the management of the Property are as follows:
(a) Collection of Revenue. Agent shall take all reasonable steps to collect and
enforce the collection of all rentals and other charges due Owner from tenants of the Property in
accordance with the terms of their tenancies.
(b) Expenses. From the management fee received from Owner under the
provisions of Paragraph 4(c) hereof, Agent shall pay all office salaries and related fringe benefits
such as hospitalization plans, pension plans, and automobile expenses for office personnel; all
office expenses related to Agent's office, such as janitorial service, telephone, utilities, office
supplies, office rent, rent on office equipment such as furniture, computers and typewriters,
calculators; expenses for travel to schools and conventions (except that travel directly related to
promotional work and specific assignments for the Property shall be approved in advance by
Owner and be billed directly to Owner), dues, subscriptions and contributions.
(c) Inspection and Repairs. Agent shall do everything reasonably necessary for
the proper management of the Property, including periodic inspections, supervision of
maintenance, and arranging for such improvements, alterations and repairs as may be authorized
by Owner; such improvements, alterations and repairs to be paid from gross revenue as an

DocuSign Envelope ID: CCBBEC5D-37A1-4D3A-8E3A-EF54F9D1DCEC
IN WITNESS WHEREOF, Owner and Agent have executed this Management Agreement
is executed effective as of the date first above written.
OWNER: NP LODEN DURHAM LLC,
a North Carolina limited liability company
�aw,mt f . QAiV,
Name: Samuel I. Ankin
Title: Authorized Signatory
Date: 9/3/2021
AGENT: YORK PROPERTIES, INC. OF RALEIGH,
a North Carolina corporation
Digitally signed by Lamont B. Farmer
DN: cn=Lamont B. Farmer, o=York Properties, Inc. of Raleigh, ou,
email=[e-mail], c=US
B} te:2Q1 nam 14;41.32_04'00' (SEAL)
Lamont B. Farmer, Senior Vice President
Date: 9.7.2021