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negotiations with prospective purchasers am needed. |fa prospective buyer ima City generated lead <br /> that has not had prior discussions with CBRE Listing Team, and CBREservices are not required, <br /> CBRE commissions will ba reduced from 596ho3%. <br /> 7. You represent that you either are the fee owner of or otherwise have control over the Property. You <br /> further represent that you have full authority to enter into this Agreement without violating anyone <br /> a/se's rights, or any other agreements or contractual obligations. <br /> 8. We will present all offers to you and assist you in developing and negotiating counteroffers until a <br /> PGAis signed and all contingencies are satisfied or waived. You agree that you and/or your legal <br /> counsel are solely responsible for determining the legal sufficiency ofthe documents related to this <br /> engagement and the tax consequences of any transaction. You are also responsible for evaluating <br /> any offers and determining with whom you will negotiate or enter into a transaction. While we may <br /> assist you in gathering reasonably available information, we cannot represent or warrant the <br /> creditworthiness of any prospect and/or their ability to satisfy their obligations under purchase <br /> agreement.All final business and legal decisions shall be made solely by you. Notwithstanding any <br /> designation of us as ^agent~ in this Agraement, we will have no right, power, or authority to enter <br /> into any agreement with any prospective purohaser, real estate broker, or any other person in the <br /> name of, on behalf of, or otherwise binding upon you. <br /> 8. NOTICE: THE COMPENSATION FOR THE S/\LE, LEASE, RENTAL, OR <br /> MANAGEMENT OF REAL PROPERTY SHALL BE DETERMINED BETWEEN EACH <br /> INDIVIDUAL BROKER AND THE BROKER'S CLIENT. <br /> 10. We will earn (and you agree to pay) a commission in accordance with this Agreement and the <br /> attached Commission Schedule (Exhibit ~A~) if either of the following occur: <br /> (a) during the Term, you sell the Property to a purchaser, whether procured by uo, you or <br /> anyone else; or <br /> (b) within one hundred eighty(1 8O)days after the expiration of the Tamn or after the Agreement <br /> otherwise terminates (the "Override Period"), the Property is sold to, or negotiations <br /> continue, resume or commence and thereafter continue leading to a sale of the Property to <br /> any person or entity (including his/her/its euoommaona, assigns or affiliates) with vvhom, <br /> during the Term.CBRE either negotiated(either directly or through another broker or agent) <br /> or to whom the Property was submitted during the Term ("Existing Prospect"). You agree <br /> that CBRE is authorized to continue negotiations with Existing Prospects. We will submit <br /> to you a list of such Existing Prospects in a "Protective List"'within seventy-two (72) hours <br /> following the expiration or termination of the Term as required by M.S.A. §82.86(1); <br /> providmd, however, that if a written offer has been submitted prior to said expiration or <br /> termination dote' then it ehmU not be necessary to include the offeror'a name on the list. <br /> The protective |iaL may include only persons who have, during the Term, either made an <br /> affirmative showing of interest in the property by responding to an advertisement, or by <br /> contacting the Broker or having been physically shown the property by the Broker. <br /> NOTICE: IF YOU FlEL!S?VV!-H ANOTHER BROKER WITHIN THE OVERRIDE PERIOD <br /> AND THEN SELL YOUR PROPERTY TO ANYONE WHOSE NAME APPEARS ON THIS <br /> LIST, YOU COULD BE LIABLE FOR FULL COMMISSIONS TO BOTH BROKERS. IF <br /> THIS NOTICE IS NOT FULLY UNDERSTOOD, SEEK COMPETENT/\D\/!CE <br /> 11. You agree that we are authorized to cooperate with and, /f appropriate, share our commission with <br /> "Cooperating Brokers" (such as a broker representing a purchaser). We will be responsible for <br /> paying the fee or commission due to the Cooperating Broker (if any) provided the Cooperating <br /> Broker- (i) represents the prospective purchaser pursuant to a written ogneemeni, a copy of which <br /> is furnished to us prior to the execution of the transaction; (ii) is properly licensed, and (111) executes <br /> and delivers to us an acceptable cooperating brokerage agreement. Market conditions may exist <br /> whereby the Cooperating Broker receives an above-standard fee and/or broker bonus. If so, our <br /> commission shall be inonmeomd by (and you agree to pay) an amount such that we receive no less <br /> than 5096 of the total fee in accordance with the Commission Schedule. <br /> G.\Co=oev\E="==/"Development o/./=/o"\Properties\CBnE\Co"*=ct\2o,9 R°weMbsti"o Agreement City of Ramsey rs,eo/°=docx <br /> z <br />