11.02 Close Converse Commercial Listing Contract

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� CLOSE CONVERSE COMMERCIAL LISTING CONTRACT: Commcrcial Real Es[a[e�6uiine5z Brokeraqe EXC LUS IV E This form approved by the Minnesota Association of REALTORS� and the Minnesota Commercial Association of REALTORS�,which disclaims any liability arising out of use or misuse of this form. OO 2019 Minnesota Association of REALTORS�,Edina,MN 1. Date 2. Page 1 3. DEFINITIONS: IN CONSIDERATION OF the Contract of Close Converse, Inc. (Real Estate Company Name) 4. ("Broker")to undertake to❑✓ SELL❑LEASE (if only SELL is checked,all references to Lessor,tenant,or lease do not apply; --•--(Check all that apply.}--- 5. if only LEASE is checked, all references to Seller, buyer, or sale do not apply) the property hereinafter described, 6 CITY OF PEQUOT LAKES 7. ("Seller and/or Lessor")grants to Broker the exclusive right to sell and/or lease or contract to sell and/or lease the property at $ Approx 85 acres known as The Heart of the Good L'rfe Development , 9. City of Pequot Lakes , County of Crow Wing , State of 10. Minnesota,Zip Code 56472 ,and legally described as PID#s 29230520, 29230514, and 29230528 11. ("Propert�') 12. for the period from the date of this Contract through and including April 1 st, 2021 ,for the sum 13. of $65,000/acre upon the following terms 14 Terms acceptable to the Seller 15. 16. or at any other price, terms or exchange to which Seller and/or Lessor may consent. 17. This Contract terminates upon successful closing and/or Lease of the Property(ies)specified in this Contract or expiration 18. or cancellation of this Contract, whichever occurs first. 19. This Contract may only be canceled by written mutual agreement of the parties. 20. Seller and/or Lessor understands that Broker may list other properties during the term of this Contract which may 21. compete with Seller's and/or Lessor's Property for potential buyers and/or tenants. 22. MLS DATA FEED OPTIONS: 23. EXPLANATIONS AND DEFINITIONS: 24. "IDX site" means a web site operated by a broker participating in the MLS on which the broker can advertise the 25. listings of other brokers in MLS, subject to certain MLS rules.The consumer visiting an IDX site is not required to 26. register on the site or to have a brokerage relationship with the broker displaying listings on the site. 27. "Virtual office web site" ("VOW") means a web site operated by a broker participating in the MLS that delivers 28. brokerage services to consumers over the world wide web.Visitors to a VOW are required to register on the site (with 29. their name and a real e-mail address) and enter a brokerage relationship with the broker operating the VOW.The 30. broker operating the VOW can then show the visiting customer/client nearly all of the information available to the broker 31. in MLS.The seller(s) of a listing has the right to opt out of certain kinds of data display under the MLS's VOW policy. 32. The MLS imposes various other rules and restrictions on VOWs. 33. For each of the following options,the MLS system automatically defaults to"Yes"Seller's and/or Lessor's instructions 34. pertaining to the Internet display of the MLS input data for the Property are as follows: 35. Option 1. Listing display on the Internet. If Seller and/or Lessor selects"No,"this listing will not be included in MLS 36. data feeds to Internet web sites that display property listing data, whether intended for advertising the 37. Property or providing online brokerage services(e.g.,VOWs).Brokers participating in MLS can still disclose 38. the listing to customers/clients via other means, including e-mail, fax, mail, hand delivery, and orally. 39. Shall the Property listing be displayed on the Internet, including sold information? �Yes ❑No 40. Seller and/or Lessor understands and acknowledges that if Seller and/or Lessor has selected "No" for 41. Option 1, consumers who conduct searches for listings on the Internet will not see information about the 42. Property in response to their searches. MNC:LC:E-1 (8/19) M � N N E s o T � REALTORS �.._.___a_�. .