Agenda - Council - 02/22/2011 - Laserfiche WebLink

Home

13. 3. IN CONSIDERATION OF Agreement o f- IntegrustAdvisory Group, LLC 4: (hereinafter referred to as "BROKER") to undertake to sell the property hereinafter described the City of Ramsey 5 Minnesota (hereinafter referred to as SELLER") grants to BROKER the exclusive 6. right to sell or contract to sell the property at and within the City of Ramsey, MN for the exclusive use by or assigns 7. of Metal- Matic, Inc:' 8: and legally described as Lot 1, Block 1, Bury & Carlson Addition, Ramsey, MN 9 10. (hereinafter, referred to as the "PROPERTY ") for the period from the date hereof through and including 11 February 28 _ 20 12" for the sum of $1,266,000** the current assessed value, 12. upon the following terms 14. or at any other price, terms or exchange to which SELLER may consent: 15• SELLER understandsthat BROKER may list other properties during the term of this Agreement which may compete 16. with SELLER'S PROPERTY for potential buyers. COMMERCIAL EXCLUSIVE LISTING AGREEMENT SALE This form approved by the Minnesota Association of1REALTORS° and the Minnesota Commercial Association of REALTORS°, which . disclaims any liability arising out of use or misuse of this form. 02008 Minnesota Association of REALTORS°,, Edina, MN 1. bate February 16, 2011 2. Page 1 MNC:ELAS -1 (208) cash at closing or with an option to purchase at a defined date 17. SELLER'S OBLIGATIONS 18. It is agreed that SELLER shall promptly furnish BROKER with complete information concerning any person who 19. during the period of this Agreement makes inquiry to SELLER regarding the sale, exchange or lease of the PROPERTY 20. If the PROPERTY is sold, SELLER hereby agrees to furnish to buyer an Abstract of Title, a Registered Property Abstract 21. or a Title Insurance Commitment, certified to date, to include proper searches covering bankruptcies and state and 22. federal judgments and liens, and to execute or cause to be executed a deed'conveying title to the PROPERTY to the 23. buyer and any further documents as may be required to consummate the sale in accordance with the terms above 24, designated or with the terms to. which SELLER may hereafter consent. 25. SELLER further agrees to promptly notify BROKER of any notices pertaining to the PROPERTYwhich are hereafter 26. received during the term of this Agreement. 27. It is further agreed that SELLER shall permit BROKER to erect a For Sale" sign on the PROPERTY and to remove 28. all other "For Sale" signs from the PROPERTY during the period of this Agreement. It is further agreed that SELLER 29. shall permit BROKER to erect a: "Sold" sign on the PROPERTY for a period of thirty (30) days following the sale or 3a exchange of the PROPERTY by BROKER. SELLER shall permit BROKER to place information on the Minnesota 31. Commercial Property Exchange (MOPE) and the Internet concerning the PROPERTY. Broker may notify the MOPE 32. and member REALTORS of the price and terms of the sale. 33. NOTICE: THE COMPENSATION RATE FORTHE SALE, LEASE, RENTAL OR MANAGEMENT OF REAL PROPERTY 34. SHALL BE DETERMINED, BETWEEN EACH INDIVIDUAL; BROKER AND ITS CLIENT. 35. COMPENSATION 36. It is further agreed that SELLER shall pay BROKER a brokerage fee of `' ° ° percent ( %) of the price for which 37. the PROPERTY is sold or exchanged; or $ NIA whichever is greater, upon occurrence of any of 38. the following conditions: 39. 1. sale, contract for sale exchange or conveyance of the PROPERTY during the period of this Agreement by 40. BROKER or any other person, including, but not limited ta, SELLER; or any other agent or broker not a party to this 41. Agreement, in accordance with the price, terms or exchange as set forth herein or as otherwise consented to by 42. SELLER.