Homes & Watson Partnership will:

• Enter into, renew or renegotiate, as necessary, all service contracts for which the Client is responsible under the terms of the leases and supervise all service contracts.

Note: The Client will be required to indemnify Homes & Watson Partnership Ltd against any redundancy payment or other costs that may arise from the termination of employment of such staff at the premises managed by Homes & Watson Partnership Ltd but only to the extent that such termination has been a result of either instructions received from the Client or the sale of the property by the Client. In the case of the latter Homes & Watson Partnership Ltd will use its best endeavours to negotiate the transfer of such staff to the purchaser of the premises.

Service Charges

Homes & Watson Partnership Ltd will:

• Prepare annual service charge statements within the period stipulated in the lease for the property concerned and arrange for these to be audited where this is a requirement of the lease.