II – Duties of the manager:

1. Conduct of general management works:

Article 35 – Responsibilities of the manager shall be defined in the management plan; unless otherwise stipulated in the management plant, the manager shall conduct the following works:

a) Fulfilling the decisions made by the board of flat owners;

b) Taking the necessary precautions for the intended use, protection, maintenance and repair of the Main building;

c) Insuring the Main building;

d) Collecting suitable amounts of money from flat owners for the costs of general management of Main building in addition to the protection, repair and cleaning works and for the costs of lift, central heating and air-conditioning and of insurance at dates specified in the management plan; and if no such date is specified, in the first month of every calendar year and collecting a second amount of money when the collected sum has been spent;

e) Accepting payments related to the management of the Main building; paying the debts arising from the management, and collecting the rents of the independent flats if duly authorized by the flat owners to this end;

f) Receiving the notifications which relate to the whole Main building;

g) Ensuring that all due dates and times for work related to the Main building are met and taking all necessary precautions not to lose any right pertaining to the Main building.

h) Taking the proper precautions on behalf of the flat owners for issues in favour of them about the protection and maintenance of the Main building.

i) Instituting legal action and enforcement proceedings against flat owners who fail to fulfil their obligations and pay their debts in connection with flat ownership, and registering the liabilities in the flat owners’ ledger;

j) Opening a bank account to his/her name in the capacity of manager of the main building in a renowned bank for depositing and withdrawing the fees collected towards the expenditures.

k) Calling the board of flat owners to convene.

2. Keeping of ledger and documents:

Article 36 – The manager shall be obliged to record all decisions and protocols of the board of flat owners and summaries and dates of all notices and notifications served and all expenditures – in order of date – in a ledger defined in Article 32, and shall keep all receipts for the expenditures and all other documents in a folder.

The ledger shall be taken by the manager to a notary public to be closed within a month after the end of each calendar year.

The manager who fails to execute his/her obligations under this article shall be punished with the fines specified in the last paragraph of Article 33.

3. Preparing operations plan:

Article 37 – (Amended article: 13/04/1983 – Article 2814/12)

If there is no operations plan accepted by the board of flat owners, the manager shall prepare an operations plan without delay.

The plan shall specifically indicate:

a) Estimated revenues and expenditures of the Main building for a period of one year;b) Estimated amount of money to be paid by each flat owner for all expenditures as calculated according to the principles defined in Article 20 of this law.

c) Amount of advance fee to be collected from each flat owner according to the principles in Article 20 to cover the estimated expenditures and other possible expenditures.

This plan shall be notified by registered mail to the flat owners or those who actually occupy the independent flats, who shall sign the receipt of the notification. All objections to the plan raised within seven days after the notification has been served shall be reviewed by the board of flat owners and a decision shall be made on the plan, and a new plan shall be prepared if required.

Finalized operations plans or decisions of the board of flat owners regarding the operation expenditures shall have the effect of the documents defined in Paragraph 1 of Article 68 of Execution and Bankruptcy Law.

III- Responsibilities:

1. General rule:

Article 38 – The manager shall be responsible against the flat owners as a proxy.

2. Accountability:

Article 39 – The manager shall give account of the revenues collected and expenditures made in connection with the Main building to the board of flat owners at dates specified in the management plan and if no such date is specified, in the first month of each calendar year.

The manager shall reveal the accounts at dates other than those specified in the management plan upon the request of one-half of flat owners regardless of their land shares.

IV - Rights:

Article 40 – The manager shall have the rights of a proxy in principle.

If the flat owners fail to fulfil their obligations and pay their dues on time and in full despite the notice served by the notary public upon request of the manager, the manager shall be entitled to annul his/her contract without being forced to pay any compensation and demand the indemnification of his/her losses arising from this event from flat owners.

The manager can demand a suitable wage from flat owners even if a fee is not specified in the management plan or the contract he/she signed.

(Amended paragraph: 13/04/1983 – Article 2814/13) Board of flat owners shall decide whether the manager designated from among the flat owners will contribute to normal operation expenditures and if he/she will, in what proportion. If a decision has not been made to this end, the manager shall not pay one-half of the normal operation expenditures during his management period.

E) Audit of management:

Article 41 – Board of flat owners shall continually audit the manager in his position and shall be entitled to replace the manager if a justified reason occurs.

If a date is not specified in the management plan for the audit of the accounts, the audit can be performed once in a three-month period; however, the audit of the accounts can be performed at any time if a justified reason occurs.

Board of flat owners can designate an auditor from among themselves based on the number of votes or majority of land shares or designate a board of auditors board composed of three members; and the auditor or the board of auditors shall submit to the board of flat owners an audit report which also states their opinion about the method of management of the main building at dates specified in the management plan and if no such date is specified, in the first month of each calendar year.

Auditors shall record this report and their decisions and views in a book, each page of which is certified by the stamp of a notary public and contains pages numbered starting from (1), and shall append the dates and their signatures.