RFP for Property Management Services

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Derose HDC Inc. 

SPG Housing Inc. 

Poco Way HDC Inc. 

Villa Garcia Inc. 

Bracher HDC Inc. 

Rotary Plaza HACSC Inc. 

Pinmore HDC Inc. 

REQUEST FOR PROPOSALS (RFP) NO. 22/2010: 

PROPERTY MANAGEMENT SERVICES 

Key RFP Dates: 

RFP Issued: Monday December 6, 2010 

Pre-proposal Conference: Thursday December 16, 2010 9:00am 

Property Open House: December 16 & 17, 2010 

Written Questions by: Wednesday December 22, 20105:00pm 

Submittal: Monday January 10, 2011 12:00 noon 

Interviews with Finalists: January 2011, Date TBD

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Santa Clara County Affordable Housing Portfolio RFP 22/2010 

Property Management Services 

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Properties 

GROUP ONE 

# of Units 

Proposed Management 

Contract 

Commencement 

Blossom River Apartments 144 2/28/11 

El Parador 125 6/30/11 

Villa Hermosa 

GROUP TWO 

100 6/30/11 

Bracher Senior Housing 72 6/30/11 

DeRose Gardens 76 6/30/11 

Pinmore Gardens 51 6/30/11 

Klamath Gardens 17 2/28/11 

San Pedro Gardens 20 9/30/11 

Poco Way Apartments 

GROUP THREE 

129 2/28/11 

Villa Garcia 80 9/30/11 

Villa San Pedro 100 9/30/11 

Rivertown 100 9/30/11 

John Burns Gardens 

GROUP FOUR 

100 6/30/11 

Huff Gardens 72 2/28/11 

Morrone Gardens 102 6/30/11 

Helzer Courts 155 2/28/11 

The Willows 47 6/30/11 

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Properties Description & Location 

GROUP ONE 

Blossom River Apts. 

Blossom River Assoc. 

1000 Blossom River Way 

San Jose, CA 95123 

El Parador 

Bascom HACSC 

Associates 

2565 Bascom Avenue 

Campbell, CA 95008 

Villa Hermosa 

Thunderbird Associates 

1640 Hermocilla Way 

San Jose CA 95116 

GROUP TWO 

Family apt, San Jose, bonds, 

LIHTC, City Loan 

Senior apt, San Jose, bonds, 


Senior apt, San Jose, conv, 


Bracher Senior Housing 

Bracher Associates 2665 Senior apt, Santa Clara, 

South Drive 

conv, LIHTC, Redev Loan 

Santa Clara, CA 95151 

DeRose Gardens 

1401 Derose Way 


Pinmore Gardens 

Pinmore Associates 

1706 Branham Lane 


Klamath Gardens 

Klamath Associates 

2051 Klamath Avenue 


San Pedro Gardens 

16718 San Luis Way 

Morgan Hill, CA 


City Loan 

Family apt, San Jose, conv, 


Family apt, Santa Clara, 

conv, LIHTC, Redev Loan 

Family apt, Morgan Hill, conv, 

RHCP, Redev Loan 

# of 

Units 

144 1999 

125 2002 

100 1999 

72 1995 

76 1989 

51 1995 

17 1996 

20 1992 

Year 

Built General Partner or Owner Limited Partner 

Derose HDC Inc 

Alex Sanchez, President 

Louise Hofmeister, VP 

Jacque Hansen, VP/Secretary 











Lousie Hofmeister, VP 


















Macintosh HD:Users:Cathy:Desktop:Santa Clara:Final Drafts:Exhibit B Portfolio Information Sheet.xls12/6/10 

Union Bank (UBOC) 

200 Pringle Ave. 

Walnut Creek, CA 94596 

Newport Partners,LLC 

26461 Crow Valley Pkwy 

Mission Viejo, CA 92691 

Fannie Mae 

Multi Fam Equity Inv 

3900 Washington Ave. 

Washington, DC. 20016 

Edison Capital 

1801 Von Karman Ave 

Suite 1700 

Irvine, CA 94612 



Suite 1700 




Suite 1700 


Effective 

Standard 

Affordability 

Restrictions 

50 units @ 

50%; 93 units 

@ 60% 

124 units @ 

50% 

$ 1,995,320 31-Dec 2/28/11 

$ 1,334,508 31-Dec 6/30/11 

100% at 40% $ 885,163 31-Dec 6/30/11 

100% @ 50% $ 659,179 31-Dec 6/30/11 

N/A 100% @ 60% $ 755,161 31-Dec 6/30/11 

Housing Authority of the 

County of Santa Clara 

100% @ 50% $ 662,726 31-Dec 6/30/11 

100% @ 50% $ 220,608 31-Dec 2/28/11 

17 units @ 

50%; 3 units 

Mod 

2011 Gross 

Potential 

Income 

Fiscal Year 

End 

Proposed 

Mgmt 

Contract 

Commence 

ment 

Funder-Required 

Services 

The Resident Manager will 

make referrals available to 

local social service 

agencies on a case by 

case basis. 





case basis. 

Access to basic services 

shall be available by other 

than resident-owned 

transportation. 





case basis. 

Outreach & Escort; Adult 

Protective Services; Meals on 

Wheels; Senior Adult Legal 

Services; West Valley Mental 

Health Geriatric Assessment 

Info-Needs Program 





case basis. 





case basis. 

$ 172,836 31-Dec 9/30/11 None required


Poco Way Apartments 

Poco Way Associates 

1900 Poco Way 

San Jose CA 95116 

GROUP THREE 

Villa Garcia 

7213 Clarendon 


Villa San Pedro 

282 Danze Drive 


Rivertown 

HACSC/Choices Family 

Associates 

1340 Hope Drive 


John Burns Gardens 

HACSC/Choices Senior 

Associates 820 

Agnews Road 


GROUP FOUR 

Huff Gardens 

Huff Avenue Associates 

3021 Huff Avenue 


Morrone Gardens 

Morrone Gardens 

Associates 

1107 Luchessi Dr. 



LIHTC, City Loan, PBV - 10 

units 

HUD 236/Sect 8, HUD, San 

Jose, City, HA Loans, PBV- 

42 units 

HUD 221(d)(3)/Sect 8, San 

Jose, HUD, CHRP-R, City, 

HA Loans, PBV - 88 units 

Family apt, Santa Clara, 

State, bonds, LIHTC, City 

Loan 

Senior apt, Santa Clara, 

bonds, LIHTC, City Loan 


LIHTC, City Loan (50% Sect 

8 PBA - 36 units) 



# of 

Units 

129 1996 

80 Rehab 

100 1973 

100 2003 

100 2003 

72 1997 

102 1994 

Year 


Poco Way HDC Inc. 




Villa Garcia Inc 




Villa Garcia Inc 




Bracher HDC Inc 



Jacque Hansen, VP/ Secretary 

Stan Perry, VP 

Sara Grignon, VP 

Bracher HDC Inc 



Jacque Hansen, VP/ Secretary 

Stan Perry, VP 

Sara Grignon, VP 

Rotary Plaza HACSC HDC Inc 


Louise Hohmeister, VP 


James Nielsen, VP 

Barbara Laskin, VP 

Rotary Plaza HACSC HDC Inc 




James Nielsen, VP 

Barbara Laskin, VP 




Suite 1700 


N/A 

N/A 









Suite 1700 




Suite 1700 


Effective 

Standard 


Restrictions 

4 units @ 30% 

122 units @ 50% 

3 units @ 60% 

59 units @ 

50%; 21 units 

@ 60% 

88 units @ 

50%; 12 units 

@ 60% 

10 units @ 

20%; 20 units 

@ 35% 70 units 

@ 60% 

2011 Gross 

Potential 

Income 

Fiscal Year 

End 

Proposed 

Mgmt 

Contract 

Commence 

ment 

$ 1,472,390 30-Jun 2/28/11 







case basis. 

$ 1,231,008 31-Dec 9/30/11 None required 

$ 1,076,100 31-Dec 9/30/11 

$ 1,299,876 31-Dec 9/30/11 

100% @ 50% $ 1,065,149 31-Dec 6/30/11 

50 % @ 50%; 

50% @ 60% 

$ 966,140 31-Dec 2/28/11 

100% @ 50% $ 880,860 31-Dec 6/30/11 

The Resident Manager 

will make referrals 

available to local social 

service agencies on a case 

by case basis. 

Educational classes; 

service amenities such as 

assistance with formation 

of conservatorships, 

income tax preparation, 

referral to housecleaning 

services and employment; 

Independent Living Skills 

Educational classes & 

similar service amenities 

such as assistance with 

formation of 

conservatorships, income 

tax preparation, referral to 

housecleaning services 

and employment opps. 





case basis. 





case basis.


Helzer Courts 

Helzer Associates 

2960 McIntyre Dr 


The Willows 

Willows/HACSC 

Associates 

898 Paula Street 


Family apt, San Jose, bonds, 


Family Apartment, Housing Authority of 

the County of Santa Clara Variable 

Rate Demand Multifamily Housing 

Revenue Refunding Bonds, LIHTC 

# of 

Units 

155 2000 

Year 


47 Rehab 

1490 

Pinmore HDC Inc 




Pinmore HDC Inc 











Effective 

Standard 


Restrictions 

4 units @ 30%; 

77 units @ 

50%; 74 unit 

@ 60% 

13 units @ 30%, 10 

units @ 50%, 22 

units @ 60%, 1 

mgrs unit, 1 market 

unit 

2011 Gross 

Potential 

Income 

Fiscal Year 

End 

Proposed 

Mgmt 

Contract 

Commence 

ment 

$ 2,280,756 31-Dec 2/28/11 







case basis. 

$ 638,599 31-Dec 6/30/11 None required

PROPERTY MANAGEMENT AGREEMENT 

THIS AGREEMENT is made effective ______________2011, by and between 

______________________ ("Owner"), and ____________________________ ("Agent"). 

RECITALS 

WHEREAS, Owner is the owner of certain improved real property and the improvements 

thereon commonly known as _______________, consisting of _____ units located at 

______________________ (the "Property"); and 

WHEREAS, Owner desires to obtain the services of Agent for the purpose of managing 

and operating the Property, and Agent desires to provide such services; and 

WHEREAS, Agent holds a real estate brokerage license through an authorized officer as 

required by the laws of the State of California; 

WHEREAS, the Owner requires Agent to meet THE OVERALL GOALS for this 

property as follows: 

• To provide a desirable, well maintained, habitable, and affordable place to live for a 

racially and ethnically integrated resident population, without regard to race, religion, 

sex, color, family status, disability status, national origin, marital status, ancestry, 

gender identity or sexual orientation; 

• To house eligible and responsible residents and maximize occupancy and rent collection 

efforts; 

• To provide effective and timely services for the residents; 

• To meet the proforma-ed financial objectives of the partnership; and 

• To maintain the physical housing resource for the projected useful life 

WHEREAS, the Owner requires that the Agent meet THE PERFORMANCE STANDARDS for 

this property as follows: 

A vacancy rate no higher than __% (defined as vacancy loss in dollars as a percentage of gross 

potential rent for the period measured) 

A collection rate no less than __% (defined as total (resident & subsidy) cash collected as a 

percentage of total rent billed. 

Property Management Agreement December 2010 

1

A debt service coverage ratio no less than _____%, (defined as the ratio of net operating 

income after deduction of required reserve contributions to required debt payments (hard debt), 

and 

WHEREAS, the Owner requires that Agent provide, coordinate or arrange for the 

following Resident Services: _______________________________ 

AGREEMENT 

NOW, THEREFORE, in consideration of the promises and covenants herein contained 

and other good and valuable consideration, the receipt of which is hereby acknowledged, Owner 

and Agent agree as follows: 

1. Appointment of Agent. Owner hereby appoints Agent and Agent hereby 

accepts appointment on the terms and conditions set forth in this Agreement and 

its attachments, as Owner's exclusive agent to manage, operate, supervise, and 

lease the Property and, except as otherwise provided herein, to perform those 

actions necessary to fulfill Owner's obligations to any government agencies with 

authority over the Property, as well as Owner's obligations under any 

partnership agreements or other contracts, copies of which Owner has provided 

to Agent. 

2. Term, This Agreement shall be in effect commencing _________, 2011 

and terminating ____________, 2013. 

3. Compensation. The compensation of Agent for its services hereunder shall 

be as provided in Exhibit A attached hereto and incorporated herein by this 

reference. Fees shall be paid monthly at the beginning of the month following the 

month in which services were performed, and shall be deductible from the 

Operating Account as part of the operating expenses of the Property. In the 

event of commencement or termination of this Agreement other than on the first 

or last day of a month, respectively, Agent’s compensation shall be prorated to 

the effective date of such commencement or termination, Proration shall be 

calculated based upon a thirty (30) day month. 

4. Duties and Responsibilities 

a. General Responsibilities of Agent. Subject to the provisions of this Agreement, Agent is 

hereby authorized to manage, operate and lease the Property in accordance with the Owner- 

Property Management Agreement 2 

December 2010

approved Management Plan, applicable regulatory agreements, and with standards of 

practice of professional managers of similar properties in the County of Santa Clara. In 

addition, Agent will provide other customary property management services required 

for the ordinary and usual business and affairs of the Property consistent with the 

management, operation, leasing, and maintenance of similar properties in the County. 

For the purpose of this Agreement, "similar properties" means properties or projects 

serving generally the same population of residents and operating pursuant to 

substantially the same or comparable programs or subsidies Owner requests Agent to 

perform services beyond the requirements of this Agreement, Agent must, prior to 

performing the service, provide Owner with immediate, written notice that the Agent 

believes that the request constitutes an additional service. Agent understands that such 

notice is critical to the Owner’s decision to have the Agent perform the service, and if 

Agent fails to provide such notice, Agent will have deemed to have waived any request 

for additional compensation for same, which shall be negotiated by the parties based on 

the fees provided for in this Agreement. 

b. Agent’s Specific Duties and Responsibilities 

i) Collection of Monies. Agent shall use reasonable and lawful efforts and means to collect 

the rents and other charges due from tenants, and all other charges, and revenues, and, 

when deemed economically appropriate by Agent and approved by Owner, to institute 

legal proceedings on behalf of Owner for collection in connection with the operation 

of the Property. Owner authorizes Agent to request, demand, collect, and receive funds 

for collection thereof in accordance with all applicable laws, regulations, ordinances or 

administrative grievance procedures and for the lawful dispossession of tenants, 

guests, and other persons from Property. Amounts expended by Agent for use of nonemployee 

consultants or experts, including attorneys, in the performance of these 

duties are the responsibility of Owner and shall be expensed to the Property's Operating 

Account. 

ii) Books, Records, and Documentation 

a) Agent shall maintain either at its principal office (if in Santa Clara County) or on 

the Property, to be decided at Agent's sole discretion, complete and separate 

books, records, reports, and documents relating to the management and operation 

of the Property, including without limitation all contracts, original leases, 

amendments, extensions and agreements relating to contracts and leases, 

annual contributions contracts, files, correspondence with tenants and 


3

prospective tenants, computations of rental adjustments, maintenance and 

preventive maintenance programs, schedules and logs, tenant finish and 

construction records, inventories of personal property and equipment, 

correspondence with vendors, job descriptions, correspondence with federal, 

state, county, municipal authorities and governing agencies, brochures, and 

accounts held or maintained by Agent (all such books, records, and documents 

being referred to herein as "Books, Records, and Documents"). 

b) Unless otherwise instructed by Owner, in writing, books and records of account 

shall be prepared in conformity with generally accepted accounting principles 

consistently applied, and HUD Handbook 4370.2. Except as approved in writing by 

Owner, all accounting functions shall be performed by Agent’s personnel whose 

compensation is payable solely by Agent without reimbursement by Owner. 

c) Except as provided herein, Owner shall have the right to examine, audit and take 

originals and copies of all Books, Records and Documents at Agent's principal 

office at reasonable times and with prior reasonable notice. 

d) Upon request, Agent shall make all Books, Records and Documents available for 

examination, audit, inspection and copying by duly authorized representatives of 

any public housing agency or authority with regulatory power and/or jurisdiction 

over the Property to the extent required by federal or state law. 

e) Agent shall provide to Owner, on a monthly and quarterly basis, financial and 

management information relating to each Property - including without limitation: 

profit and loss statements, balance sheet, general ledger, trial balance report, rent 

rolls, cash reconciliation statements, accounts payable reports, tenant delinquency 

and vacancy reports, and reports as to the status of the Security Deposit Account and 

Construction Account, if any, unless otherwise agreed in writing. This financial 

information should be provided by the 15 th day of the month following the last 

day of the reporting period. Agent shall also, at the request of Owner, furnish 

such further reports in a manner sufficient to respond to Owner's requirements. 

iii. Annual Audit. At the end of each fiscal year of the Property and up to the date of 

termination, Agent shall arrange and coordinate an annual audit of the books and 

records of the Property made by a firm of certified public accountants approved by 

Owner. Agent shall prepare or cause the auditor to prepare for Owner’s execution all forms, 

reports, and returns required by any federal, state, county, or municipal authority relating to 

the Property, including any supplemental schedules required by lenders and partners. Audit 

will include a report of internal controls or compliance reports required by government 

contract or loan requirements. Agent’s third party cost of the audit is a cost of the Owner 


December 2010

and shall be expensed to the Property's Operating Account. Agent is authorized to make 

requests for information from attorneys performing services on behalf of Owner for the 

Property as required by any accountant for the audit of the books and records of the 

Property. In so doing, neither Owner nor Agent intends to waive the attorney-client 

privilege with respect to any information which is furnished to or from such attorneys. 

Any response by any attorneys to such requests for information should not be construed 

in any way to constitute a waiver of the protection of the attorney work-product privilege 

with respect to any files involving the Property, Owner or Agent. 

iv. Repairs and Maintenance. Agent will use due professional care to maintain the 

condition of the Property in the condition prescribed by Owner, including but not limited to: 

(i) regularly inspect the Property, (ii) take ordinary, prudent precautions against fire, vandalism, 

burglary and trespass on the Property, (iii) arrange to make all necessary repairs. Agent shall 

make no expenditures in excess of $5,000.00 or the maximum amount set forth in any limited 

partnership or regulatory agreement, whichever is less, for repairs, without the prior written 

consent of Owner, unless (i) the Owner has approved the expenditure for such repair in the 

annual budget, or (ii) such repairs are emergency repairs to the Property immediately 

necessary for the preservation or safety of the Property or for the safety of other persons or 

which are required to avoid suspension of necessary services to the Property. 

Preventive Maintenance. Agent will supply and implement an annual preventive maintenance 

plan for the Property. 

v. Capital Assets. 

a) Agent shall make no expenditures in excess of $5,000.00 for alterations, capital 

improvements, renovations or replacements of furniture, fixtures or equipment, unless 

such expenditure is contained in the annual budget, without the prior written approval 

of Owner. The Owner-approved annual budget with proper documentation shall 

constitute Agent’s authorization to make the budgeted expenditure without Owner’s 

further provided that a) the amount of the expenditure is within 15 percent (15%) or 

$10,000.00 of the originally approved amount, whichever is less and b) Agent 

submits evidence of expenditure satisfactory to Owner. 

b) Other than replacements, Agent shall make no disposition of fixed assets (as determined 

in accordance with Owner's Chart of Accounts) with an original value in excess of 

$10,000.00 without the prior written approval of Owner. 

vi. Service Contracts and Equipment Leases. Agent is authorized to make and enter into all 

contracts and equipment leases as are required in the ordinary course of business for the 


5

operation, maintenance, and service of the Property, and to pay the same when due, as long 

as Owner has approved the expenditure in the annual budget. Agent must obtain the 

Owner’s prior written consent before entering into any unbudgeted contract or equipment 

lease for the account of Owner in which (i) the term exceeds one (1) year, or (ii) the contract 

is not cancelable with thirty (30) days notice unless such contract or lease is made under 

circumstances which shall reasonably be considered to constitute an Emergency (as 

defined above). Notwithstanding the foregoing, Agent shall attempt to contact and secure 

prior approval of Owner in the event any such emergency expenditure is likely to exceed 

$10,000.00. 

vii. Supplies and Inventory. 

a) Within the Owner-approved annual budget, Agent is authorized, on behalf of Owner, to 

purchase such supplies and expendable items as are necessary to operate the Property. 

When taking bids or issuing purchase orders, Agent shall use its commercially available 

reasonable and prudent efforts to secure for Owner's benefit any discounts, 

commissions, or rebates obtainable in connection with such purchases. All such 

discounts, commissions or rebates shall inure to the benefit of the property and Owner. 

In no event may a commission or rebate inure to the benefit of Agent, its officers, 

employees or subcontractors, or to other properties that Agent may be managing. 

b) Agent shall conduct a physical inventory of the fixed assets, personal property, 

materials, and equipment used in connection with the Property at the commencement 

and termination of the Agreement and, if requested by Owner, at the end of each 

fiscal year. 

viii. Insurance 

a) Owner shall cause to be placed and kept in force usual and customary insurance 

against direct physical loss or damage to the Property as well as resulting Loss of 

Income. All insurance shall be in conformity with the requirements of any mortgages 

of the property; the cost will be charged to the project operating account. 

b) Owner shall obtain and keep in force a Comprehensive General Liability (CGL) 

insurance policy, with respect to the property and its operations, and in amounts no less 

than $1,000,000 per occurrence of bodily injury and property damage, and not less than 

$3,000,000 policy general aggregate or such higher amounts as agreed upon by the parties 

required to sufficiently insure Owner's obligations to hold agent harmless for all claims 

arising from the operations at the Property other than property management errors and 

omissions. The cost of insurance will be charged to the project operating account. 


December 2010

Owner's insurance shall name Agent as Additional Insured and shall provide Agent 

with 30-day prior notice of cancellations or material change in coverage. It is further 

agreed that the Owner's insurance shall be primary, and that any insurance provided 

by the Agent is excess and non-contributing. 

c) Agent shall not knowingly permit the use of the Property for any purpose which 

might void any policy of insurance relating to the Property, increase the premium 

otherwise payable or render any loss there under uncollectible. 

d) Agent is authorized to settle on Owner's behalf any and all claims against property 

insurers not in excess of $5,000, which includes authority for the execution of proof of 

loss, the adjustment of losses, signing of receipts, and the collection of money. If the 

claim is greater than $5,000, Agent shall act only with the prior written approval of 

Owner. 

e) Agent shall cause to be placed and kept in force workers' compensation insurance 

up to the statutory limit and employer's liability of at least $1,000,000 and Agent 

shall furnish Owner certificates evidencing coverage upon request by Owner. Owner 

shall reimburse Agent for its pro-rata share of workers' compensation insurance 

expenses associated with employees of Agent employed for the direct benefit of Owner 

or the Property and Agent is authorized to expense such costs from the Property's 

Operating Account. All corporate employees of Agent shall be covered at the expense 

of Agent. 

f) Agent will furnish, as a Property expense, a fidelity bond in an amount which is at 

least equal to the sum of the gross potential income for two months and the amount of 

the security deposits, and is to protect the Owner and Agent against misappropriation 

of property funds by employees of the Agent. Agent will furnish a fidelity bond for its 

central office staff at Agent’s expense. 

g) Agent will provide its own liability insurance as specified in Exhibit F. 

ix. Debt Service, Taxes and Assessments 

a) Agent shall pay debt service, taxes, impositions, or assessments relating to the 

ownership or operation of the Property, including, without limitation, improvement 

assessments, real estate taxes, personal property taxes, taxes on income or rents, or 

any charges similar to or in lieu of any of the foregoing. 

b) Agent shall verify bills for real estate, personal property or other taxes, improvement 

assessments, and other similar charges which are or may become liens against the 


7 

6 of 16

Property or which may be levied on the basis of ownership or operation of the 

Property. 

c) Upon request of Owner, Agent shall annually make a review of and submit a report on, 

all real estate, personal property and other taxes and all assessments affecting the Property. 

d) Upon request of Owner, Agent shall timely file all personal property tax returns after 

execution of such returns by Owner. 

x. Compliance with Legal Requirements 

a) Agent shall use reasonable means to become aware of, and shall take such actions as 

Agent deems prudent and necessary to comply with any laws, regulations orders, 

plans or requirements affecting the use or operation of the Property by any federal, 

state, county, or municipal agency or authority, including but not limited to 

compliance with and participation in administrative grievance procedures, provided 

that if the cost of compliance in any instance exceeds $5,000.00, Agent shall not 

expend funds for compliance without Owner's prior written consent. 

b) Owner shall provide Agent with all information necessary for Agent to be fully 

informed as to the nature and extent of all programs applicable to the Property, 

including, but not limited to, providing copies of regulatory agreements, 

management plan, tenant selection criteria, restrictive covenants or other instruments, 

whether or not recorded, against the Property which contain operating covenants or 

restrictions. - 

c) Agent shall promptly, within 24 hours, notify Owner in writing of all such orders, 

notices, plans or requirements requiring expenditure of non-budgeted amounts. 

Agent, however, shall not take any action as long as Owner is contesting, or has 

affirmed its intention to contest and promptly institutes proceedings contesting any law, 

order, plan or requirement. 

d) Agent shall prepare, execute, and, after obtaining the written approval of Owner, file 

any customary and standard reports and documents required by an applicable 

governmental authority. 

e) Agent covenants and agrees to obtain and maintain all licenses and permits 

necessary for the conduct of its business as Agent of the Property. Licenses and 

permits specific to the Property shall be expensed to the Property's Operating 

Account. 

f) Agent’s expense for use of third party consultants or experts, including attorneys, 


December 2010

equired for the performance of Agent’s duties shall be expensed to the Property's 

Operating Account to the extent permitted by HUD Handbook 4370.2 and 

consistent with the budget provisions of this agreement. 

xi. Initiation of Legal Proceedings and Defense of Claims. Agent will attempt to secure each 

tenant’s full compliance with the terms of his/her lease The Agent may lawfully terminate 

any tenancy when, in the Agent's judgment, sufficient cause (including but not limited to nonpayment 

of rent) for such termination occurs under the terms of the tenant's lease. The 

Agent is authorized to consult with and retain legal counsel of its choosing for such legal 

actions as Agent reasonably believes to be necessary, including, but not limited to bringing 

actions for eviction and executing notices to vacate and judicial pleading incident to such 

actions. Such actions may be brought in the name of Agent as agent for Owner. Agent 

further is authorized to consult and retain legal counsel for the defense of any claims 

relating to the Property in any way. Attorney's fees and other necessary costs incurred in 

connection with the prosecution or defense of any claims related to the Property, including 

attorneys' fees and, where necessary, the retention of experts, shall be reimbursable by the 

Owner and paid to Agent from the Property's Operating Account. Agent will inform Owner 

of legal proceedings as part of its routine monthly and quarterly reporting. 

xii. Energy Conservation. Agent shall use prudent and customary means to use and control 

utilities at the Property in a manner to minimize total costs and satisfy Owner's 

obligations to tenants. 

xiii, Advertising. Agent shall advertise the Property for rent at such times and by use of such 

media as it deems necessary in compliance with applicable laws and regulations subject 

to the Owner-approved annual budget or Owner's prior written approval. Agent will 

provide and implement a Fair Housing Marketing Plan for the Property. 

xiv. Employment of Personnel 

a) Agent will hire (or contract with), train, supervise, direct the work of, pay, and 

discharge all personnel necessary for operation of the Property. Such personnel 

shall in be employees or contractors of Agent and not of Owner. Owner shall have no 

right to supervise or direct such employees. Consistent with HUD Handbook 

4370.2, all costs associated with the employment of personnel necessary for the 

on-site operation of the Property, including, but not limited to, salaries, wages, other 

compensation and fringe benefits (including without limitation social security, 

taxes, worker's compensation insurance, unemployment insurance and the like), 

will be reimbursable to Agent by Owner (i.e., expenses of the Property) from the 

Operating Account. Agent will not discriminate against any employee or applicant 

for employment in violation of any applicable law. This contract incorporates 


9

any applicable affirmative action or equal opportunity obligations as required by 

applicable regulations. The terms "employees" or "personnel" shall be deemed 

to mean and include employment of a casual, temporary, or part-time nature. 

b) The salaries, wages, other compensation, and benefits (including without limitation 

social security, taxes, worker's compensation insurance, payroll processing, postage 

and the like), of all on-site, field, or maintenance employees of Agent working on or 

with respect to the Property shall be expenses of Agent reimbursable by Owner from 

the operating income of the Property. Such reimbursements shall be made only to the 

extent that their time is devoted to the Property, as evidenced by payroll and time 

sheets documented by Agent. Reimbursements shall include travel, entertainment, 

training, and other expenses incurred for these employees as they specifically relate to 

the Property. 

c) The salaries, wages, other compensation, benefits, travel, entertainment, and other 

expenses shall be non-reimbursable expenses of Agent with respect to the following 

persons working on or in respect to the Property: 

(i) Executive Personnel of Agent charged with general administration of Agent's 

performance of this Agreement. 

(ii) A Regional Manager or Property Supervisor for the Property, based in the 

Central Office, who shall be experienced in the administration and operation of an 

asset of the size, character, and quality of the Property and who shall devote such 

time as is necessary to the on-site supervision of the Property to permit its 

operation on a basis comparable to other such properties, unless such individuals 

are performing as on-site personnel in front-line duties in which case the fees and 

costs associated with the time spent performing such duties shall be 

reimbursable by Owner from the operating income of the Property. 

(iii) Record-keeping Personnel (off-site). 

xv. Leasing. Agent shall make diligent efforts to secure and/or retain tenants for the Property 

consistent with the character and status of the Property as outlined in the established Tenant 

Selection Criteria. Agent shall make diligent efforts to assure that all leases and leasing 

practices conform to all laws, ordinances, regulations, and Housing Assistance Payment 

Contract applicable to the Property. Prior to the execution of a new lease by a tenant, 

Agent shall in good faith conduct such investigations of the financial responsibility, general 

reputation and, when part of the Tenant Selection Criteria, the criminal background, of the 

prospective tenant as are ordinarily and customarily performed by the managers of similar 

properties in the location of the Property. The expense for such investigations shall be 


December 2010

charged to the Property's Operating Account. 

c. General Responsibilities of Owner. In addition to the specific obligations set forth 

elsewhere in this Agreement, Owner will cooperate with Agent in the fulfillment of 

Agent's obligations under this Agreement including, but not limited to, promptly 

providing all approvals, information and funding reasonably necessary for Agent's 

management of the Property in accordance with Agent’s obligations in this 

Agreement, and timely submitting information to appropriate regulatory agencies 

when requested by Agent. Further, Owner shall not require Agent to act in a manner 

that would violate any applicable laws, regulations or program requirements and 

requiring such conduct so is an express violation of this Agreement by the Owner. 

5. Expenses of Owner. Except as otherwise provided in this Agreement, all 

contractual obligations that Agent incurs to third parties in the course of 

managing the Property pursuant to this Agreement, which are included in the 

Owner-approved annual budget, shall be obligations of Owner and shall be for 

Owner’s account shall pay such expenses with funds drawn from the Operating 

Account in accordance with this Agreement without requiring Owner’s additional 

approval unless specifically required elsewhere in this Agreement. 

6. Expenses of Agent. Consistent with HUD Handbook 4370.2, Agent will 

pay all salaries, wages and other compensation and fringe benefits of all 

personnel described in Paragraph 4(b) (xiv) (c) of this Agreement as an 

expense of Agent without reimbursement by Owner. Agent shall pay other 

expenses which are expressly (a) payable by Agent or (b) not reimbursable 

hereunder. Agent shall also pay (without reimbursement from Owner) any costs 

of providing corporate office facilities and supplies for such off-site corporate 

personnel and other expenses incurred by Agent which are not incurred in the 

performance of duties and obligations required by this Agreement. 

7. Bank Accounts. 

a. Establishment of Accounts. Agent shall establish the following FDIC-insured bank 

accounts (as designated by Owner) in Agent’s name in banks or other institutions 

approved or selected by Owner: 

i. An "Operating Account," which shall be used for the deposit of all funds, whether 

received by Owner or Agent, from the operation of the Property, including any 

amounts paid by a public housing agency or authority, unless Owner agrees in writing 


11

that the Operating Account shall not be used for such purpose. At Owner's request, the 

Operating Account will also be used for reserves for taxes and insurance (impound). 

The Operating Account shall also be a centralized disbursement account, the funds of 

which shall be used to pay the normal and reasonable expenses incident to the 

operation and maintenance of the Property pursuant to this Agreement and as 

requested by Owner, including without limitation, payment of Agent’s compensation 

provided for hereunder. The Operating Account can also be used to pay insurance 

premiums, ad valorem taxes on real and personal property, and debt service relating to 

the Property if requested by Owner pursuant to this Agreement. The Operating 

Account can also be used for disbursements of excess cash to Owner, if applicable. 

All interest earned on the Operating Account becomes available operating funds that 

Agent may expend on Owner-approved expenses. 

ii. A "Replacement Reserve Account", which funds are subject to the provisions of, and 

restricted to those uses described in, the mortgage documents or other applicable 

Regulatory Agreements; disbursements are subject to Owner’s prior written approval, 

except in the event of emergency repairs involving manifest danger to persons or 

property or repairs required to avoid suspension of any service to the Development. 

iii. An "Operating Reserve Account", which funds are restricted to uses approved in the 

Annual Budget only when funds in the General Operating Account are insufficient for 

that purpose. Any such disbursements are subject to prior written approval by HCD. 

iv. A "Security Deposit Account," which may be an interest bearing account if required 

by applicable law, in an account approved by Owner for the retention of security 

deposits delivered in connection with leases of any portion of the Property. 

v. The Operating Account and Security Deposit Account are to be established solely for 

the Property, and shall contain no funds other than money collected from, or intended for 

use in connection with operation of the Property, and Agent shall not commingle any of 

its own funds with the funds of Owner. All funds of Owner deposited in these two 

accounts are the property of Owner held in trust for Owner by Agent. If agreed in 

writing, these two accounts shall be subject to the control of both Agent and Owner, 

either of whom may draw checks thereon. 

vi. Agent may also maintain a petty cash fund from money in the Operating Account and 

make payments therefrom in a manner consistent with the usual course of dealing 

with such funds in the property management business. Such petty cash fund shall be 

subject to the same rules and restrictions set forth above as are applicable to the bank 

accounts. 


December 2010

c. Funds Provided By Owner. If the funds collected by Agent from operation of the 

Property, including subsidy payments, are not sufficient to pay the expenses incurred 

and authorized to be paid in operation of the Property and to make all reimbursements 

to Agent pursuant hereto, Agent shall submit to Owner a statement showing such 

shortfall and identifying the bills and charges requiring payment, and Owner shall 

immediately advance funds sufficient to pay same to the Agent. 

8…Annual Budgets 

a. Submission of Budgets. At the commencement of this Agreement, and thereafter, if 

again requested by Owner, at least 90 days prior to the beginning of each fiscal year, 

Agent shall prepare and submit to Owner for Owner's approval proposed budgets of 

(a) the estimated income and expenses of the Property and (b) the estimated capital 

expenditures for the Property for the next fiscal year or other operating period as may 

be agreed by the parties in such a form so as to comply with any and all regulatory 

agreements and applicable state and federal regulations. The proposed budgets will 

be made assuming accrual basis accounting or such basis as prescribed, in writing, by 

Owner or applicable regulatory agreements or regulations. Agent will provide an 

explanation for the numbers used in such budgets. 

b. Submission of Other Reports. Owner may request Agent to prepare the following 

additional reports when submitting such proposed budgets: rental rate 

recommendations with analysis if appropriate and all repair, maintenance, renovation 

and replacement expenditures (together with estimated costs for each item) anticipated to 

be made in the upcoming operating period; a payroll analysis including a salary or 

wage description for every on-site employee, including any fringe benefits 

reimbursable hereunder, of Agent whose compensation is reimbursable hereunder. 

c. Approval of Budgets. Owner will make objection to the proposed budgets within 

sixty (60) days after Owner's receipt of said budgets. In the absence of Owner’s objection 

as provided herein, Owner will be deemed to have approved the Annual Budget and 

Agent will operate and incur expenses only as provided within the Annual Budget until 

notified otherwise by Owner in writing (or as provided elsewhere herein regarding 

Emergencies). To the extent reasonable, Agent shall eliminate or revise any item or 

amount in the Annual Budget which is disapproved by Owner to the extent 

necessary to obtain Owner's approval. 

d. Compliance with Budgets. Annual budgets, after approval by Owner, shall be used 

by Agent as a guide for the actual operation of the Property. Except as specifically 


13

permitted by other provisions of this Agreement, Agent is not authorized to make any 

expenditure for the maintenance and operation of the Property which would result in 

either (A) a particular budget category being exceeded by more than fifteen percent 

(15%), or (B) the amount of total budgeted expenditures being exceeded by more than 

ten (10%), without in each case obtaining the prior written approval of Owner. Agent 

must explain Budget variances in excess of 5% in financial reports. 

9. Early Termination. Notwithstanding the provisions of Paragraph 2 above to 

the contrary, this Agreement and the obligations of the parties hereunder shall 

cease, upon the occurrence of any of the following: 

a. If Owner fails to comply, after Agent’s notice and an opportunity to cure, with any rule, 

order, determination, ordinance or law of any federal, state, county, municipal 

authority, or governing agency, Agent may terminate this Agreement upon ten (10) 

days written notice to Owner unless Owner is in good faith contesting same. 

b. If either party defaults in the performance of any of its obligations hereunder and such 

default continues for thirty (30) days after written notice to the defaulting party 

specifying such default, the party not in default may terminate this Agreement upon 

ten (10) days written notice to the defaulting party. Notwithstanding the above, if a 

cure has commenced but not able to be completed within 30 days and the defaulting 

party is diligently pursuing the cure within the 30 day period, then the party not in 

default shall not effect the termination. 

c. Owner or Agent may terminate this Agreement upon ninety (90) days written notice 

to the other. It is understood that the respective rights and obligations of the parties 

shall continue to be governed by this Agreement until the effective date of such 

termination. 

Notwithstanding any of the time period set forth above, for properties receiving any form of 

subsidy or subject to any state or federal agreements, Owner and Agent hereby agree to 

give sufficient notice to the other to allow Owner and Agent to comply with all regulatory 

notice requirements. Lenders, investors and regulators may have 

10. Duties Upon Termination. Upon termination of this Agreement for any 

reason: 

a. Agent shall have no further right to act on behalf of Owner or to disburse any of 

Owner's funds; 


December 2010

. On the last day of the month following the termination date, Agent will deliver to 

Owner all Books, Records, and Documents (as herein defined) maintained by it 

pursuant to this Agreement and do all that is reasonably necessary to facilitate the 

orderly transition of management of the Property; 

c. Agent shall render to Owner an accounting of all funds of Owner held by Agent 

relating to the Property and shall immediately cause such funds to be paid to 

Owner; and 

d. Agent shall perform all reporting and accounting functions hereunder for the period 

from the date of the last report or accounting to the date of termination. 

11. Environmental Conditions. Owner represents and warrants to Agent that to 

the best of Owner's knowledge, without any duty of investigation or inquiry, that 

Owner is not aware of any toxic or hazardous substances in the soil or 

groundwater on the Property that exceed federal, state or local action levels. 

12. Relationship. Agent and Owner shall not be construed as joint venturers or 

partners, and neither shall have the power to bind or obligate the other party except as 

set forth in this Agreement. Agent understands and agrees that the relationship with 

Owner is that of independent contractor working on behalf of Owner and that it will 

not represent to anyone that its relationship to Owner is other than that of independent 

contractor. Notwithstanding the foregoing, Agent acknowledges and understands that 

its relationship with Owner is that of a fiduciary and as such owes Owner the duties 

inherent in said relationship. 

13. Assignment. This agreement shall not be assigned by Agent without the prior 

written approval of Owner which approval may be withheld in Owner's sole and 

absolute discretion. 

14. Benefits and Obligations. Subject to the provision of Paragraph 13 above, the 

covenants and agreements herein contained shall inure to the benefit of, and be 

binding upon, the parties hereto and their respective heirs, executors, successors, and 

assigns. 

15. Indemnifications 

a. Indemnification of Agent by Owner. Owner agrees, absence the negligence of Agent: 

(a) to indemnify and hold harmless Agent from and against any claim for damage or 

injuries to property or persons by reason of any cause whatsoever which occurs in and 


15

about the Premises, which is due to Owner's failure or refusal to comply with or abide 

by an applicable law or owner's direct negligence; and (b) to defend promptly and 

diligently, at Owner's expense, any claim, action, or proceeding brought against Agent 

or Agent and Owner, jointly or severally, arising out of or connected with the 

Owner's or Agent's negligent action or performance of Agent's responsibilities 

under this Agreement, and to indemnify and hold harmless Agent from any judgment, 

loss or settlement on account thereof. This indemnification obligation includes, but is not 

limited to, claims arising out of or relating to the condition of the Property and any 

deferred maintenance or capital improvements to the Property. 

b. Indemnification of Owner by Agent. Agent agrees to indemnify and hold harmless 

Owner from any and all claims for damage or injuries to persons or property by reason 

of any act of negligence or willful misconduct on the part of Agent, its officers, 

directors, partners, agents, servants, employees, independent contractors, or those 

acting on behalf of Agent. 

c. Conditions. The obligations of either party where applicable to indemnify, and hold 

harmless the other under the agreement are subject to the following conditions: 

i the party to be indemnified shall promptly notify the indemnifying party 

of any matter with respect to which indemnity is required; and 

ii. the indemnifying party shall not take any actions, including an admission 

of liability, which would bar the indemnifying party from enforcing any 

applicable coverage under policies of insurance held by the indemnifying 

party or would prejudice any defense of the indemnifying party in any 

appropriate legal proceedings pertaining to any such matter or otherwise 

prevent the indemnifying party from defending itself with respect to any 

such matter. 

d. Excluded Matters. Notwithstanding the foregoing, neither party shall be required to 

indemnify, hold harmless, or reimburse the other with respect to any matter to the 

extent the same resulted from the sole negligence of that party or for actions taken by 

the Agent outside the scope of the Agent's authority under this Agreement. 

e. Survival. The provisions of this section shall survive the expiration and any 

termination of this Agreement. 

16. Management Certification. To the extent that the hiring of Agent under the 

terms of this Agreement is subject to certification by HUD: (1) Owner and 


December 2010

TO OWNER: 

TO AGENT: 

Agent agree to cooperate in obtaining any and all management certifications 

required by HUD, and (2) Owner and Agent agree that should any conflict exist 

between this Agreement and HUD's rights and requirements, HUD's rights and 

requirements will prevail. 

17. Limitation of Liability. Except in connection with a party's indemnification 

obligations with respect to third parties, neither party shall be liable to the other 

for any indirect, incidental, consequential, special, punitive or exemplary damages 

arising from its performance of this Agreement, including but not limited to lost 

revenue, lost profits or lost business opportunity. 

18. Notices. All notices provided for in this Agreement shall be in writing and 

served by registered or certified mail, postage prepaid, at the following addresses 

until such time as written notice of a change of address is given to the other 

party: 

Entire Agreement. This Agreement, its Exhibits and any signed addenda, represent the entire 

agreement between the parties with respect to the subject matter hereof. No alteration, 

modification, or interpretation of this Agreement shall be binding unless in writing and signed 

by both parties. 

19. Severability. If any provision of this Agreement or application to any 

party or circumstances shall be determined by any court of competent jurisdiction 

to be invalid and unenforceable to any extent, the remainder of this Agreement or 

the application of such provision to any person or circumstance, other than those as 

to which it is so determined invalid or unenforceable, shall not be affected 

thereby and each provision hereof shall be valid and shall be enforced to the fullest 

extent permitted by law. 

21. Arbitration. If a dispute arises out of or relates to this contract and if said 

dispute cannot be settled through direct discussions, the parties agree to first 

endeavor to settle the dispute in an amicable manner by mediation and, if that 

fails, to have the matter decided by binding arbitration. The mediation and 

arbitration shall be conducted by a mutually agreed upon mediator/arbitrator. If 


17

the parties cannot agree to a mediator/arbitrator, the parties will ask JAMS 

(formerly known as the Judicial Arbitration and Mediation Service 

(www.jamsadr.com) to appoint a neutral mediator or arbitrator as appropriate. 

22. Applicable Law. This agreement shall be construed and enforced in 

accordance with the laws of the State of California. Venue shall take place in the 

County of Santa Clara, State of California. 

23. Agent. The term "Agent" as used in this Agreement shall include any 

corporate subsidiaries or affiliates of Agent who perform service, in, on or about 

the Property in connection with this Agreement. 

24. Attorney's Fees. If any dispute, litigation or arbitration between the parties 

arises out of this Agreement, the losing party in such dispute, litigation or 

arbitration shall pay to the prevailing party all costs of such dispute, including 

without limitation, reasonable attorneys' fees. 

25. Non-Waiver. No delay or failure by either party to exercise any right under 

this Agreement, and no partial or single exercise of that right, shall constitute a 

waiver of that or any other right, unless otherwise expressly provided in this 

Agreement. 

26. Headings. All headings in this Agreement are for convenience only and 

shall not be used to interpret or construe its provisions. 

OWNER: ________________ AGENT: ___________________________ 

By: _____________________ By:________________________________ 

Title: Title: 

Date: Date: 


December 2010

Management Agreement Exhibit A: PROPERTY MANAGEMENT FEE 

STRUCTURE 

Comprehensive property management services will be provided for a fee 

of: 

! _______% OF COLLECTED INCOME PER MONTH 

Agent’s Expenses payable from the Property budget _______ will be 

as follows: 

Type of Expense Details 

Accounting & Bookkeeping Per unit per month 

Payroll processing cost Per employee per month 

Software license fee 

Staff training 

Email administration 

Other fees 

Annual per site 

Identify on-line training access fees and other 

annual training expenses per site 

Per employee per month, if any 

OWNER: ________________ AGENT: ___________________________ 

By: _____________________ By:________________________________ 

Title: Title: 

Date: Date: 

Property Management Agreement December 2010

Housing Authority of the County of Santa Clara RFP 22/2010 

Name of Firm: 

EXHIBIT D 

PROPOSED MANAGEMENT FEE & REIMBURSABLE COSTS 

Group of Properties Covered by this Proposed Schedule: 

The property management services described in Exhibit A, Scope of 

Services, will be provided for a fee of: 

_______% OF COLLECTED INCOME PER MONTH 

In addition to the fee, the following expenses will be reimbursed (at cost): 

Type of Expense Details Requested 

Accounting & bookkeeping Per unit per month 

Project specific personnel 

cost 

Workers compensation 

Federal payroll tax 

Medical/dental/vision/other 

health benefits 

Payroll processing cost 

Software license fee 

Staff training 

Email administration 

Other fees 

List job title and compensation range for each position: 

include site manager, assistant manager, 

maintenance, janitor, gardener and any other site staff. 

(Add rows as needed) 

Identify current experience modification factor 

No details required 

Identify approximate average cost as % of salary 

Per employee per month 

Annual per site 

Identify on-line training access fees and other annual 

training expenses per site 

Per employee per month, if any 

The above fees should apply to all properties within the group being bid on. If you have 

a different proposal for a different property group, please submit a separate form EACH 

property group. The HACSC will consider the above fees as complete and no additional 

fees will be approved in the Property annual budget.

NON-COLLUSION AFFIDAVIT 

I, , an authorized agent/representative 

of attest that the 

Proposal is not made in the interest of, or on behalf of, any undisclosed person, 

partnership, company, association, organization, or corporation; that the Proposal is 

genuine and not collusive or sham; that the Offeror has not directly or indirectly 

induced or solicited any other Offeror to put in a false or sham RFP, and has not 

directly or indirectly colluded, conspired, connived, or agreed with any Offeror or 

anyone else to put in a sham RFP, or that anyone shall refrain from proposing; that the 

Offeror has not in any manner, directly or indirectly sought by agreement, 

communication or conference with anyone to fix the RFP price of the Offeror or any 

other Offeror, or to fix any overhead, profit, or cost element of the RFP price or of that 

of any Offeror, or to secure any advantage against the public body awarding the 

contract of anyone interested in the proposed contract; that all statements contained in 

the RFP are true; and further, that the Offeror has not, directly or indirectly, submitted 

his/her RFP price or any breakdown thereof, or the contents thereof, or divulged 

information or data relative thereto, or paid, and will not pay any fee to any corporation, 

partnership, company, association, organization, RFP depository, or to any member or 

agent thereof, to effectuate a collusive or sham RFP. 

I, the undersigned, hereby certify that I have read and understand this Non-Collusion 

Affidavit and guarantee complete compliance with all the terms, conditions and 

stipulations. 

BY_________________________________________ 

Authorized Signature Date

Indemnity 

INSURANCE REQUIREMENTS 

The Management Agent shall indemnify, and hold harmless the Owner and the Housing 

Authority of the County of Santa Clara (HACSC), from any claim, liability, loss, injury or 

damage arising out of, or in connection with the performance of this Agreement by the 

Owner and HACSC and/or its authorized agents to, employees or sub-consultants, 

excepting only loss, injury or damage caused by the negligence or misconduct of 

personnel employed by the Owner and HACSC. The Management Agent shall reimburse 

the Owner and HACSC for all costs, reasonable attorneys' fees, expenses and liabilities 

incurred with respect to negligence acts, errors or emission in which the Management 

Agent is obligated to indemnify, and hold harmless the Owner and HACSC under this 

Agreement. 

Insurance 

Without limiting the Management Agent indemnification of the Owner and HACSC, 

Management Agent shall provide and maintain at its own expense, during the term of this 

Agreement, or as may be further required herein, the following insurance coverage and 

provisions: 

A. Evidence of Coverage 

Prior to commencement of this Agreement, Management Agent shall provide a 

Certificate of Insurance certifying that coverage as required herein has been 

obtained. Individual endorsements executed by the insurance carrier shall 

accompany the certificate. In addition, a certified copy of the policy or policies shall 

be provided by the Management Agent upon request. 

This verification of coverage shall be sent to the requesting the HACSC Asset 

Management department, unless otherwise directed. The Management Agent shall 

not be able to proceed with the work under the Agreement until it has obtained all 

insurance required and such insurance has been approved by the Owner. This 

approval of insurance shall neither relieve nor decrease the liability of the 

Management Agent. 

B. Qualifying Insurers 

All coverage, except surety, shall be issued by companies which hold a current 

policy holder's alphabetic and financial size category rating of not less than A- V, 

according to the current Best's Key Rating Guide or a company of equal financial 

stability that is approved by the Owner. 

Insurance Requirements 

January 2009 Page 1 of 5

C. Notice of Cancellation 

All coverage as required herein shall not be canceled or changed so as to no 

longer meet the specified the Owner’s insurance requirements without 30 days' 

prior written notice of such cancellation or change being delivered to the Owner or 

their designated agent. 

D. Insurance Required 

1. Commercial General Liability Insurance - for bodily injury (including death) 

and property damage which provides limits as follows: 

a. Each occurrence - $1,000,000 

b. General aggregate - $2,000,000 

c. Personal Injury - $1,000,000 

2. General liability coverage shall include: 

a. Premises and Operations 

b. Personal Injury liability 

c. Severability of interest 

3. Umbrella Coverage - $3,000,000 (totaling $4,000,000/$5,000,000 

occurrence/aggregate) 

General liability coverage shall include the following endorsements, a copy of which shall 

be provided to the Owner: 

Additional Insured Endorsement, which shall read: 

1) Housing Authority of the County of Santa Clara 

100 Great Oaks Blvd. 2 nd floor 


2) Housing Authority of the County of Santa Clara 

505 West Julian Street 


3) Property Owner (specify) 



4) Managing General Partner (specify) 

Insurance afforded by the additional insured endorsement shall apply as 

primary insurance, and other insurance maintained by the Owner and 

HACSC, its officers, agents, and employees shall be excess only and not 

contributing with insurance provided under this policy. 

4. Automobile Liability Insurance 

For bodily injury (including death) and property damage which provides total 

limits of not less than one million dollars ($1,000,000) per occurrence 

applicable to hired vehicles and non-owned vehicles. 

5. Crime Coverage 

a. Employee Dishonesty 

b. Money and Securities (inside and outside) covering theft, 

disappearance or destruction of money or securities with naming the Owner 

as “Loss Payee”. 

6. Workers' Compensation and Employer's Liability Insurance 

a. Statutory California Workers' Compensation coverage including 

broad form all-states coverage. 

b. Employer's Liability coverage for not less than one million dollars 

($1,000,000) per occurrence. 

7. Professional Errors and Omissions Liability Insurance 

a. Coverage shall be in an amount of not less than one million dollars 

($1,000,000) per occurrence/aggregate. 

b. If coverage contains a deductible or self-retention, it shall not be 

greater than ten thousand dollars ($10,000) per claim. 

c. Coverage as required herein shall be maintained for a minimum of 

two years following termination or completion of this Agreement. 

7. Claims Made Coverage 

If coverage is written on a claim made basis, the Certificate of Insurance 

shall clearly state so. In addition to coverage requirements above, such 

policy shall provide that: 



E. Special Provisions 

a. Policy retroactive date coincides with or precedes the Management 

Agent's start of work (including subsequent policies purchased as 

renewals or replacements). 

b. Policy allows for reporting of circumstances or incidents that might 

give rise to future claims. 

The following provisions shall apply to this Agreement: 

1. The foregoing requirements as to the types and limits of insurance 

coverage to be maintained by the Management Agent and any approval of 

said insurance by the Owner or its insurance consultant(s) are not intended 

to and shall not in any manner limit or qualify the liabilities and obligations 

otherwise assumed by the Management Agent pursuant to this Agreement, 

including but not limited to the provisions concerning indemnification. 

2. The Owner acknowledges that some insurance requirements contained in 

this Agreement may be fulfilled by self-insurance on the part of the 

Management Agent. However, this shall not in any way limit liabilities 

assumed by the Management Agent under this Agreement. Any 

self-insurance shall be approved in writing by the Owner upon satisfactory 

evidence of financial capacity. The Management Agent’s obligation 

hereunder may be satisfied in whole or in part by adequately funded selfinsurance 

programs or self-insurance retentions. 

3. Should any of the work under this Agreement be sublet, the Management 

Agent shall require each of its subcontractors of any tier to carry the 

aforementioned coverages, or the Management Agent may insure 

subcontractor under its own policies. 

4. The Owner reserves the right to withhold payments to the Management 

Agent in the event of material noncompliance with the insurance 

requirements outlined above. 

F. Fidelity Bonds (Required only if Contactor/Consultant will be receiving advanced 

funds or payments) 

Before receiving compensation under this Agreement, the Management 

Agent will furnish the Owner with evidence that all officials, employees, and 

agents handling or having access to the Owned funds received or 

disbursed under this Agreement, or authorized to sign or countersign 

checks, are covered by fidelity bond in an amount of $150,000 with naming 

the Owner as “Loss Payee”. If such bond is canceled or reduced, the 

Management Agent will notify the Owner immediately, and the Owner may 



withhold further payment to Management Agent until proper coverage has 

been obtained. Failure to give such notice may be cause for termination of 

this Agreement, at the option of the Owner. Management Agent need not 

obtain a fidelity bond if the funds to be received consist solely of 

remittances made by the Owner to Management Agent in payment of 

Management Agent’s invoices approved for payment by appropriate the 

Owner’s management.

RFP for Property Management Services

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