Association of Apartment Complex Owners

…………………………………………………………………………...

Hereafter referred to as: the Association

and

Tomage Ltd.

Atatürk Caddesi 57a, 07400 Alanya / Turkey.

Hereafter referred to as: The Management Company

The following has been agreed on ………………………..

The Management Company acts in accordance with decisions by the General Assembly of Owners, whereby the management of V.V.E. is empowered to reach an agreement that duly makes use of these powers with effect from ………….as the Association's Management company, as specified in the register of owners.

The Agreement is made for an unspecified duration and may be terminated by giving notice of cancellation. Cancellation must be advised in writing, taking effect at the end of a financial year, but no earlier than 31 December ……. , giving a notice period of three (3) months.

The Management Company shall supply the Association with standard services, as specified in section I.

(standard services and powers) as in the appendix attached to this agreement. They therefore enjoy the powers described therein.

The Management Company supplies services to the best of its ability and knowledge, taking account of the Association's best interests.

The fee for standard administrative and technical services is 200.00 YTL excluding 18% VAT per apartment per year, which will be index-linked each year, commencing on 1st January ………,

Services, including translation works, which fall outside the scope of standard services or in connection with the normal running of business and which require extra time, attention or special effort, such works may be charged separately by the manager at a reasonable rate.

………………………. ………………………. ………………………

Regardless of what may be stated on the register or in the domestic rules, the Agreement relating to the management of the Association of Apartment Complex Owners ………………………………………

shall cover the services set out below.

1. The handling of all matters pertaining to communal areas and the communal facilities in the building or complex of buildings is subject to an estimated amount approved in the budget. This includes the outsourcing of, and control over, work to be performed; checking and processing the relevant invoices received. Any work which may exceed the maximum amount set annually in the budget will require the approval of the members of the assembly.
2. The handling of cases of damage that fall within the cover afforded by the insurance policy taken out by the Association is subject to a maximum amount of 15.000,00 YTL excluding VAT.
3. For any higher amounts, approval is required by the members of the assembly.
4. A committee comprising one or more persons will operate within the Association, and they are charged with technical matters, they may, in consultation with that committee, conclude maintenance agreements for technical installations and communal facilities.
5. The outsourcing of, supervision of and checks on other deliverables and services for the benefit of all owners, as well as checking and processing the invoices received relating thereto.
6. Should a committee comprising one or more persons operate within the Association they are charged with technical matters, it may, in consultation with that committee, negotiate and give guidance on tasks to be outsourced by the Association concerning major maintenance to the building or building complex, such as:-
   • Issuing advice relating to work to be carried out, including price estimates;
   • Inviting tenders;
   • Assessing those tenders;
   • Notifying the assembly of work to be scheduled.
7. After a decision has been taken by an assembly to carry out major maintenance work up to a total value of 5,000.00 YTL and which falls within the existing estimates, outsource, give guidance and monitor that work, also check and process the invoices received relating thereto.
8. Deal with all matters that fall within the scope of the provisions of guarantees. To deal with matters involving sums of money assumed to be greater than 500.00 YTL, approval is required by the assembly.
9. A visit once a year by the chairman.
10. Permanent availability of a reporting point for emergencies concerning technical problems, as well as taking measures to ensure those problems are swiftly resolved.

1. Annual preparation in close consultation and presentation of at the General Members' Assembly a provisional estimate of the association's profits and taxes for the forthcoming financial year and calculating the quarterly contributions to be paid by apartment owners per month or per quarter.
2. Taking care of administration, and collection in full of initial and final contributions from members in the Association, running costs, as well as any other types of claims.
3. Monitoring and flagging up any overdue payments, in consultation with the chairman and, if necessary, taking legal measures against defaulting persons.
4. In close consultation, annual preparation of a financial report, comprising an operational review with explanations, a detailed balance-sheet with explanations, a review of cash reserves and provisions, and a notice relating to the book-keeping and calculation of the financial results.
5. Payment against the association's bank account(s) of all charges and taxes for the account of the Association that fall within the budget estimate.
6. Providing annual documents to the cash-control committee and supplying any further information requested pertaining thereto.
7. Arranging financial negotiations if the collection of extra contributions from apartment owners is required to enable major maintenance work, etc, to be carried out assuming such work has been agreed to by the members' assembly.

Providing interim financial information/reports to the chairman, committees and/or owners upon request.

Providing an accountant's report upon request, at the Association's expense, and providing information and explanations relating thereto to the administration.

1. Organising, convening, attending, minuting and, after consulting the chairman, despatching minutes of the Association. The consultation to be held in April within 1 month of the assembly, and ensuring representation on behalf of members who are unable to attend the assembly.
2. Looking after the Association correspondence, plus all technical, financial and administrative matters.
3. Maintaining supervision to ensure compliance with the stipulations of the register, domestic regulations and the decisions taken by the Association.
4. Keeping the members' administration up-to-date. Notifying the chairman in writing regarding changes of ownership or use within the Association and any alterations to the file of members.
5. The archiving of all Association documents.
6. Taking out and keeping up insurance for the building or building complex against damage resulting from fire and other risks, civil and legal-aid insurance. Any resulting tax liability shall be debited to the Association's account. Submitting claims to, and negotiating claims with, the insurers.
7. Ensuring the assembly’s decisions are implemented, where they do not fall within the scope of financial or technical services.
8. Welcoming and briefing new owners.
9. Passing information to notaries when rights to apartments are transferred.