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negotiations with prospective purchasers aaneeded. |faprospective buyer imaCity generated lead <br />that has not had prior discussions with CBRE Listing Team. and CBRE services are not required. <br />CBRE commissions will be reduced from 5% to 3%.. <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 toenter into this Agreement without violating anyone <br />else's rights, or any other agreements or contractual obligations. <br />B. We will present all offers to you and assist you in developing and negotiating counteroffers until a <br />PSA is 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 of the 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 orenter into atransaction. While wemay <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 bemade solely byyou. Notwithstanding any <br />designation of us as ^ogent^ in this Agreement, we will have no right, power, orauthority to enter <br />into any agreement with any prospective pupohaser, real estate broker, or any other person in the <br />name of, onbehalf of, orotherwise binding upon you. <br />S. NOTICE: THE COMPENSATION FOR THE SALE, LEASE' RENTAL' OR <br />MANAGE/WENT OFREAL PROPERTY SHALL BEDETERMINED 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 Tenn, you sell the Property to a purchaser, whether procured by us, you or <br />anyone else; or <br />(b) withinonehundredeighty(18O)dayaaftertheexpiradonoftheTermoraftertheAgreement <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 euoomoaona, assigns or affiliates) with whom, <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 />tha1CBRE 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 [N.8A. §82.66(1); <br />provided, however, that if written offer has been submitted prior to said expiration or <br />termination date' then it shall not be necessary to include the offeror'a name onthe list. <br />The protective list may include only persons who have, during the Term, either made an <br />affirmative showing of interest in the property by responding toan advertieement, or by <br />contacting the Broker or having been physically shown the property by the Broker. <br />NOTICE: .FYOU REL!STWITH ANOTHER BROKER WITHIN THE OVERRIDE PERIOD <br />AND THEN SELL YOUR PROPERTY TOANYONE WHOSE NAME APPEARS ON THIS <br />LIST, YOU COULD BELIABLE FOR FULL COMMISSIONS TO BOTH BROKERS. IF <br />THIS NOTICE IS NOT FULLY UNDERSTOOD' SEEK COMPETENT ADVICE. <br />11.You agree that we are authorized to cooperate with and, if appropriate, share our commission with <br />"Cooperating Brokers" (such as a broker representing e 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 agneomen1, a copy of which <br />is furnished to us prior to the execution of the transaction; (d) is properly licensed, and (111) executes <br />and delivers toumanacceptable 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 increased by (and you agree to pay) an amount such that we receive no less <br />than 5O96ofthe total fee inaccordance with the Commission Schedule. <br />o^Comoev\E=on==icoevelopment s\Contr=ct\201eRevieMusti" Agreement City of Ramsey rs,eole=.doc, <br />z <br />