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8. Check one of the following:
<br />[ ] Owner agrees to have Broker arrange for closing services.
<br />[ x ] Owner shall arrange for closing services to be provided by a third -party.
<br />8. Unless otherwise provided herein, the terms of sale shall be, at the option of the purchaser, either cash or cash to any
<br />existing loan. Any offer may contain normal and customary contingencies such as those relating to the condition of the
<br />Property, title report, and timing of closing.
<br />9. Owner shall reimburse Broker, monthly or upon request, for its direct out-of-pocket expenses reasonably incurred and
<br />approved by Owner in the preparation of the offering brochures required for print advertising, and for other activities
<br />involved in marketing the Property hereunder The reimbursement for these expenses shall not exceed the sum of $0
<br />Dollars ($ 0 ). Except as expressly provided in this paragraph, all expenses incurred by Broker in the
<br />performance of its service shall be borne by Broker, not Owner.
<br />10, Owner agrees to cooperate with Broker in bringing about a sale of the Property and to refer immediately to Broker all
<br />inquiries of anyone interested in the Property.. All negotiations are to be through Broker.. Broker is authorized to accept
<br />a deposit from any prospective purchaser and to handle it in accordance with the instructions of the parties unless
<br />contrary to applicable law. Broker is exclusively authorized to advertise the Property and, exclusively, to place a sign(s)
<br />on the Property if, in Brokers opinion, such would facilitate the sale of the Property. Owner and its counsel will be
<br />responsible for determining the legal sufficiency of any purchase and sale agreement and other documents relating to
<br />any transaction contemplated by this Agreement.
<br />I 1. In the event the Property is removed from the market due to the opening of an escrow or acceptance of an offer to
<br />purchase the Property during the Term, or any extension thereof, and the sale is not consummated for any reason
<br />then, in that event, the Term shall be extended for a period of time equal to the number of days that the escrow had
<br />been opened and/or the Property had been removed from the market, whichever is longer, provided that, in no event
<br />shall such extension(s) exceed one hundred eighty (180) calendar days in the aggregate.
<br />12. Owner agrees to disclose to Broker and to prospective tenants or purchasers any and all information which Owner has
<br />regarding present and future zoning and environmental matters affecting the Property and regarding the condition of
<br />the Property, including, but not limited to structural, mechanical and soils conditions, the presence and location of
<br />asbestos, PCB transformers, other toxic, hazardous or contaminated substances, and underground storage tanks in,
<br />on, or about the Property. Broker is authorized to disclose any such information to prospective purchasers or tenants.
<br />13. Owner represents that it is the owner of the Property and that, except as may be set forth in an addendum attached
<br />hereto, no person or entity who has an ownership interest in the Property is a foreign person as defined in the Foreign
<br />Investment in Real Property Tax Act (commonly known as "FIRPTA'').
<br />14. If earnest money or similar deposits made by a prospective purchaser or tenant are forfeited, in addition to any other
<br />rights of Broker pursuant to this Agreement, Broker shall be entitled to one-half (1/2) thereof, but not to exceed the
<br />total amount of the anticipated commission
<br />15. To the extent permitted by applicable law, Broker is authorized to deduct its commissions from any deposits, payments
<br />or other funds, including proceeds of sale or rental payments, paid by a purchaser or tenant in connection with a
<br />transaction contemplated by this Agreement, and Owner hereby irrevocably assigns said funds and proceeds to
<br />Broker to the extent necessary to pay said commissions. Broker is authorized to provide a copy of this Agreement to
<br />any escrow or closing agent working on such transaction, and such escrow or closing agent, or tenant, is hereby
<br />instructed by Owner to pay Broker's commissions from any such funds or proceeds available. Owner shall remain
<br />liable for the entire amount of said commissions regardless of whether Broker exercises its rights under this
<br />paragraph.
<br />16. Owner and Broker designate the individual(s) identified below as the legal agent(s) of Owner, to the exclusion of all
<br />other licensees of Broker (individually or collectively referred to as "Designated Agent(s)"). Owner acknowledges that
<br />Broker is a national brokerage firm and that in some cases it may represent prospective purchasers or tenants. Owner
<br />desires that the Property be presented to such persons or entities, and consents to any dual representation created in
<br />the event that such purchaser or tenant is also represented by Designated Agent(s), Designated Agent(s) shall not
<br />disclose the confidential information of one principal to the other.
<br />Designated Agent(s); Brian Pankratz, Richard Palmiter, Krista Flemming
<br />17. In the event that the Property comes under the jurisdiction of a bankruptcy court, Owner shall immediately notify
<br />Broker of the same, and shall promptly take all steps necessary to obtain court approval of Broker's appointment,
<br />unless Broker shall elect to terminate this Agreement upon said notice.
<br />18. In the event that the Property becomes the subject of foreclosure proceedings prior to the expiration of this
<br />Agreement, then Broker may, in its sole and absolute discretion (i) suspend this Agreement until such time as Broker
<br />may elect, in its sole and absolute discretion, to reinstate this Agreement, or (ii) terminate this Agreement and be free
<br />to enter into a listing agreement with any receiver, the party initiating the foreclosure, the party purchasing the Property
<br />at a foreclosure sale, or any other person having an interest in the Property.
<br />19. In the event Owner fails to make payments within the time limits set forth herein, then from the date due until paid, the
<br />delinquent amount shall bear interest at the four percent (4%) per year.
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