11.02 Close Converse Commercial Listing Contract

Home Browse Search

COMMERCIAL LISTING CONTRACT: EXCLUSIVE 135. Page 4 136. Property located at Approx 85 acres known as The Heart of the Good Life Development 137. COMPENSATION FOR LEASE: (To be completed only if Property is being otfered for lease.)Lessor shall pay Broker a 138. retainer fee of $ when Lessor signs this Contract. Broker shall keep this fee even 139. if Lessor does not lease the Property. It is further agreed that Lessor shall pay Broker a brokerage fee of: 140. (Check any that apply.) 141. ❑ percent (%) of the total gross obligation of the lease price; 142. ❑ percent (%) of the total net obligation of the lease price; 143. ❑ $ ; 144. ❑ $ per useable square foot; 145. ❑ $ per rentable square foot; 146. ❑ OTHER: The leasing fee shall be the average monthly gross rent for the initial term of the lease multiplied by 147. four(4). EXAMPLE: If the average monthly gross rent for the term of the lease is$1,000, the commission to 148 Broker shall be $4,000. . , 149. upon the occurrence of any of the following conditions, identified in lines 151-199 and paid in the following manner: 150. percent (%) upon lease execution and percent (%) upon lease occupancy. 151. COMPENSATION CONDITIONS: 152. 1. The sale and/or lease, contract for sale and/or lease, exchange or conveyance of the Property during the period 153. of this Contract by Broker or any other person, including but not limited to, Seller and/or Lessor or any other agent 154. or broker not a party to this Contract, in accordance with the price, terms, or exchange as set forth here or as 155. otherwise consented to by Seller and/or Lessor; 156. 2. A buyer and/or tenant is procured, whether by Broker, Seller and/or Lessor or anyone else, who is ready, willing 157. and able to purchase and/or lease the Property at the price and terms set forth above and Seller and/or Lessor 158. refuses to sell and/or lease; 159. 3. A Seller and/or Lessor agrees to sell and/or lease the Property before the expiration of this Contract, and Seller 160. refuses to close the sale and/or Lessor refuses to commence the lease in accordance with the terms of the executed 161. lease agreement; 162. 4. A Seller and/or Lessor removes the Property from the market before expiration of this Listing Contract; 163. 5. If Seller and/or Lessor grants an option to purchase and/or lease the Property,Seller and/or Lessor shall compensate 164. Broker,as provided here,based on the price paid forthe option and for any extensions of the option.This compensation 165. shall be paid upon receipt by Seller and/or Lessor of any such payments. In the event such option is exercised, 166. whether during the term of this Contract,or within 6 months after,Seller and/or Lessor shall also compensate 167. Broker on the gross sale and/or lease price of the Property in accordance with the provisions here. 168. Notwithstanding the foregoing,to the extent that all or part of the price paid for the option or any extension of the option 169. is applied to the sale and/or lease price of the Property, then any compensation previously paid by Seller and/or 170. Lessor to Broker on account of such option payments shall be credited against the compensation payable to Broker 171. on account of the exercise of the option; 172. 6. During the term of this Listing Contract or within �80 days (not to exceed six (6) months, except for the 173. purchase or sale of a business in which case it cannot exceed two(2)years)after the expiration of this Listing Contract: 174. (a) the Property is acquired by a public authority; 175. (b) an agreement to acquire the Property is reached with a public authority; or 176. (c) a public authority institutes eminent domain/condemnation proceedings to acquire the Property; 177. 7. Seller and/or Lessor contributes or conveys the Property or any interest therein to a partnership, joint venture or 178. other business entity during the term of this Contract in lieu of a sale and/or lease of the Property during the term 179. of this Contract; MNC:LC�E-4(8/19) M I N N E S O T A REALTORS �__a.._..._ _..,