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Property Management Agreement - 27 Pillar Lane, Palm Coast, FL 32164 - 27 Pillar Ln, Palm Coast, FL 32164.pdf

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Property Management Agreement This Property Management Agreement ("Agreement") is entered into on April 30th, 2024, between: Landlord: Kiwi LFTY400 DAO LLC 30 N Gould St Ste R Sheridan, WY 82801 Property Management Company: Calixte Duffaut Property Details: Property Address: 27 Pillar Ln Palm Coast, FL 32164 1. Engagement of Services: The Landlord hereby engages the Property Management Company to manage the above-described property, and the Property Management Company agrees to manage the proper

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Property Management Agreement
This Property Management Agreement ("Agreement") is entered into on April 30th, 2024,
between:
Landlord:
Kiwi LFTY400 DAO LLC
30 N Gould St Ste R Sheridan, WY 82801
Property Management Company:
Calixte Duffaut
Property Details:
Property Address: 27 Pillar Ln Palm Coast, FL 32164
1. Engagement of Services:
The Landlord hereby engages the Property Management Company to manage the
above-described property, and the Property Management Company agrees to manage the
property in accordance with the terms and conditions of this Agreement.
2. Services Provided:
The Property Management Company agrees to provide the following services:
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Marketing the Property for Rent
Tenant Screening and Selection
Lease Preparation and Execution
Rent Collection
Property Maintenance and Repairs
Inspections
Handling Tenant Issues and Disputes
Accounting and Financial Reporting
Eviction Proceedings (if necessary)

3. Term:
The initial term of this Agreement shall commence on September 5th, 2023 and shall continue
for a period of 5 years. After the initial term, this Agreement shall automatically renew for
successive periods of 5 years unless terminated by either party with 60 days' written notice.

Doc ID: 667b17af5c0cbbe2e4d47496b2fc07c2aade382b

4. Sub-lease:
The property is sub-leased as an Airbnb. Investors have the ability to propose a governance
vote to remove the ability for the property to be sub-leased as an Airbnb. If the Airbnb listing
brings in more net cash flow than the traditional lease, investors will receive their equal share of
the additional cash flow, based on their ownership stake.
5. Fees:
In consideration for the services provided, the Landlord agrees to pay the Property Management
Company the following fees:
Management Fee: 10% of the monthly gross rent collected.
6. Repairs:
Repairs and maintenance costs will be split amongst the Property Manager and the Landlord
based on the ownership stake in the property.
For example, if the Property Manager owns 50% of the equity, and a repair occurs for $1,000,
the Property Manager will pay $500 and the Landlord will pay $500 towards the repair from the
Operating Reserve.
7. Owner's Responsibilities:
The Landlord agrees to:
Provide the Property Management Company with all necessary documents and information
related to the property.
Maintain the property in compliance with all applicable laws and regulations.
8. Termination:
The Property Manager may terminate this Agreement by providing written notice to the
Landlord. Upon termination, the Property Management Company shall provide an account of all
funds and property of the Landlord in its possession.
The Landlord may terminate this agreement via a governance vote calculated based on
membership interests held by each Member at the time of the vote subject to the an algorithmic
scaling process described in the following document at
<https://loftyai.notion.site/Governance-Mechanism-For-Partial-PropertySales-e74b184f52124e219c320bb61b2b89b8?pvs=4>. Any vote under this Section may occur,
provided a quorum of the membership interests is present for the vote. Pursuant to Subsection

Doc ID: 667b17af5c0cbbe2e4d47496b2fc07c2aade382b