Unless AUPM defaults under the Property Management Agreement or in connection with any of its management obligations or negligently fulfills its obligations, the Fund trustees will indemnify AUPM against any third party claims or liabilities arising from AUPM`s provision of the Services under the Property Management Agreement. The agreement should describe how the advisor will negotiate the assets in the account once a purchase or sale decision has been made. If the advisor is trading through an affiliate broker, you should have peace of mind that you are getting the best total price. The agreement often allows the advisor to receive research or brokerage services from the brokers he or she uses. This is allowed, but you should know that the advisor has a financial interest in using these brokers. You can also ask the advisor to trade through a specific broker, but this can increase your trading costs. The initial term of the property management agreement will be 10 years, with the agreement continuing for 5 years after the initial term, unless terminated with two years` notice at any time after the initial term. If AUIRE (or one of its affiliated entities) ceases to be the responsible body, the property management contract automatically ends two years after the change of the responsible body (or immediately if AUPM chooses it, in which case the new responsible body is required to pay the equivalent of 24 monthly management fees to AUPM). AUIRE, as controller, and the sub-trustees as trustees of their respective sub-trusts (collectively, the “Fund Trustees”) have entered into a Property Management Agreement (“Property Management Agreement”) with Australian Unity Property Management Pty Limited ABN 76,073,590,600 (“AUPM”), a wholly-owned subsidiary of Australian Unity Limited ABN 23,087,648,888, under which AUPM has been appointed real estate manager of the Fund. AUPM has agreed to provide certain property management services to fund trustees under the property management agreement, with AUIRE becoming the lead agency for the fund. The agreement should specify whether you or the advisor is responsible for the power of attorney for the account securities. Some consultants do not like to elect MPs because of the administrative burden.
However, proxies can be important (e.B. a vote on an upcoming acquisition), and the advisor is often in a better position to assess the issues and ensure that your voice is recorded in a timely manner. .Share
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