Agenda - Council - 08/26/2014 - Laserfiche WebLink

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CONIlVIERCIAL-INDUSTRIAL EXCLUSIVE LISTING AGREEMENT LEASE Address Ramsey Municipal Center Page 2 8. If within 180 days after the end of this Agreement, LESSOR leases or agrees to lease the Property to anyone who has made an affirmative showing of interest in the Property by responding to an advertisement or by contacting the BROKER or salesperson involved or has been physically shown the Property by the BROKER or salesperson. It is understood that BROKER shall not seek to enforce collection of a commission under this Paragraph 8 unless the name of the prospect is on a written list given to LESSOR within 72 hours after expiration of this Listing Agreement. LESSOR further agrees that in the event a purchase agreement to sell or option to sell the Property is entered into (a) during the term of this Listing Agreement, or (b) during the period set forth in subparagraph 8 above with a person or entity as described therein, then LESSOR shall pay BROKER a sales commission of N/A which shall be due and payable upon closing of the sale or as otherwise agreed in writing. As security for BROKER's commission, LESSOR hereby grants to BROKER a security interest in the lease payments from the lease of the Property or proceeds from a sale and any title company or other closer who conducts the closing on the sale or lease of the Property is directed to disburse the BROKER's commission to the BROKER at the time of closing. LESSOR'S REPRESENTATIONS LESSOR has full legal right to lease the Property. LESSOR certifies that as of the date of execution of this Agreement, LESSOR has not received any notice of building, health or fire code violations, nor notice of hazardous waste on Property, nor notice of condemnation pertaining to the above -described Property except as herein noted: SUB -AGENTS AND LESSEE'S BROKERS I hereby permit you to share part of your commission with other real estate brokers, including brokers only representing LESSEES. DUAL AGENCY DISCLOSURE If a Lessee represented by the Broker wishes to Lease your property, a Dual Agency will be created. This means that the Broker will represent both you and the Lessee and owe the same duties to the Lessee that the Broker owes to you. This conflict of interest will prohibit the Broker from advocating exclusively on your behalf. Dual agency will limit the level of representation the Broker can provide. If dual agency should arise, you will need to agree that confidential information about price, terms and motivation will still be kept confidential unless you instruct the Broker in writing to disclose specific information about you. All other information will be shared. Broker cannot act as a dual agent unless both the Lessee and you agree to it. By agreeing to a possible dual agency, you will be giving up the right of exclusive representation in an in-house transaction, however, if you should decide not to agree to a possible dual agency and you want the Broker to represent you, you may give up the opportunity to Lease your property to Lessee's represented by the Broker. XXX LESSOR will agree to dual agency representation and will consider offers made by Lessee's represented by Broker. LESSOR will not agree to dual agency representation and will not consider offers made by Lessee's represented by Broker. LESSOR: Date BROKER: Date: CLOSING SERVICES After a lease for the property is signed, arrangements must be made if there is a closing of the transaction. LESSOR understands that LESSOR may arrange for a qualified closing agent or attorney to conduct the closing, or LESSOR may ask BROKER to arrange for the closing. LESSOR understands that LESSOR may be required to pay certain closing costs. LESSOR has indicated his/her/its choice for closing services (initial one). LESSOR wishes to have BROKER arrange for the closing. (Seller) (Seller) LESSOR will arrange for the closing. (Seller) (Seller) MISCELLANEOUS 9. This Agreement is binding upon the heirs, successors, and assigns of the parties. 10.All of the representations and convenants of this Agreement shall survive and be enforceable after termination of the Agreement. 11. This Agreement constitutes the complete agreement between the parties and supercedes any prior oral or written agreements between the parties relative to the provisions herein. No amendment, modification or extension of this Agreement shall be valid or binding unless made in writing and signed by both LESSOR and BROKER. 12. This contract shall be governed by the laws of the State of Minnesota. LESSOR LESSOR By: Salesperson MNCI:ELAL-2 (11/93)