Agenda - Council Work Session - 02/26/2019 - Joint City Council & EDA

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CBRE SCHEDULE OF LAND SALE COMMISSIONS CBRE, INC. BROKERAGE AND MANAGEMENT LICENSED REAL ESTATE BROKER FOR PROPERTY: (See Exhibit 'Al NOTICE: THE COMMISSION RATE FOR THE SALE, LEASE, RENTAL, OR MANAGEMENT OF REAL PROPERTY SHALL BE DETERMINED BETWEEN EACH INDIVIDUAL BROKER AND ITS CLIENT. As to all sales of real property, the commission shall be calculated on the basis of five percent (5%) of the gross sales price of the property paid to owners at closing. If a cooperative broker is involved, the total commission payable to Broker and cooperative Broker shall be calculated on the basis of seven percent (7%) of the gross sales price of the property paid to owners at closing. This commission shall be paid at the time of execution and delivery of the Deed; provided that if the transaction calls for a contract for deed, then upon execution of said contract. In the event a joint venture agreement is effected in lieu of a sale, then the commission shall be calculated on the basis of the value of the property as determined for purposes of the joint venture agreement and the percentage of interest thereof which is being conveyed to the new joint venture partners and the commission in this event shall be paid upon execution of the joint venture agreement. The minimum gross sale price for industrial and office land, for the purpose of calculating CBRE's commission only, shall be $2.00 per square foot. CBRE shall receive a minimum fee of $5,000.00 for the sale of any residential parcel of land greater than $45,000; and, a minimum fee of $3,500.00 for the sale of any residential parcel of land less than or equal to $45,000. The provisions hereof are subject to the terms and provisions of any Authorization of Sale, Exclusive teasing Agreement or other agreement to which this Schedule may be attached and which is executed by the parties hereto. In the event Owner fails to make payments within the time limits called for herein, then from the date due until paid, the delinquent payment shall bear interest at four percent per year. In addition, should it become necessary for CBRE to take legal action to collect payments due hereunder, and if CBRE prevails in such action, Owner shall pay all reasonable attorneys fees and court costs incurred by CBRE in connection therewith. The undersigned Owner hereby acknowledges receipt of a copy of this Schedule and further agrees that it shall be binding upon the heirs, successors and assigns of the undersigned. The term "Owner", when used herein, shall be deemed to mean the owner of the property. a tenant under a ground lease, and any tenant desiring to effect subleases. CBRE, Inc. Licensed Real Estate Broker By: „LC Richard Palmiter Title: Vice President By: Ian Pankratz Title: Vice President APPROVED this 26th day of January , 2014 OWNER: City of Ramsey By: 7 Q Sarah Strommen Its: Mayor By: 4� J "I.irt Ulrich If'':." t: City Administrator OWNER: Ramsertivusi By: tevel?pment Authority (HRA) N..lTeam-&wsersgeaSupporl_BRKVaadaralBROKERAGIL.eyaf Forms92O7 7 - Con n,s ,on Schedule - Lamf.doc