EXHIBIT 10.48
CONSULTING AGREEMENT
This Agreement (the "Agreement") is made as of the 14{th} day of February, 2001 to be effective as of February
15, 2001, between Home Properties of New York, L.P. (the "Company"), a New York limited partnership, and
Amy L. Tait ("Consultant").
W I T N E S S E T H:
WHEREAS, the parties hereto desire to establish a formal and continuing consulting relationship for the period
after Consultant ceases to be an officer and employee of the Company;
NOW, THEREFORE, the Company and Consultant hereby agree as follows
1. Definitions
"Affiliate" means any person, corporation, company, partnership or other legal entity which controls, is controlled
by or is under common control with the Company.
"Board of Directors" means the Board of Directors of Home Properties of New York, Inc.
"Business" means the acquisition, financing, operation and management of multifamily apartment communities and
management, financing and operation of the Company and its Affiliates and such other activities as are of strategic
importance to the Company or any of its Affiliates.
"Person" shall mean an individual, a corporation, trust, partnership, sole proprietorship and other legal entity.
2. Consulting Duties and Obligations. Effective the 15th day of February, 2001 (the "Effective Date"), the
Company hereby engages Consultant as a consultant, and Consultant hereby accepts such engagement on the
following terms and conditions:
A. Duties.
(a) As Reasonably Needed. During the term of Consultant's engagement under this Agreement, Consultant shall
be reasonably available during normal business hours on a reasonable "as-needed" basis at such times and places
as shall be reasonably requested by the executive officers to assist the Company as a general advisor to its
Business and such other projects as may be requested of Consultant by the executive officers or Board of
Directors.
(b) Location. Consultant will be provided an office as needed and access to support staff to perform t