11.02 Close Converse Commercial Listing Contract

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COMMERCIAL LISTING CONTRACT: EXCLUSIVE 180. Page 5 181. Property located at Approx 85 acres known as The Heart of the Good Life Development �� -�.- �eller a�/e��ssc�r as a pa+'#�erskup s� " ,�a�+nteres��##ae�i{��etl�e��usi�ess �#�3 e�i��-+s-�s#exred;�k�e�ef'��ger;e�rigk� ' -i�►-�ie�-e#-sale-a�er�se ��4: ei ihs� , 185. 9. If within �80 days (not to exceed six(6)months, except for the purchase or sale of a business in which case 186. it cannot exceed two (2)years)after the end of this Contract, Seller and/or Lessor sells and/or leases or agrees 187. to sell and/or lease the Property to anyone who has made an affirmative showing of interest in the Property by 188. responding to an advertisement or by contacting the Broker or salesperson involved or has been physically shown 189. the Property by the Broker or salesperson. It is understood that Broker shall not seek to enforce collection of a 190. compensation under this subparagraph nine (9) unless the name and address of the prospect is on a written list 191. given to Seller and/or Lessor within 72 hours after expiration of this Listing Contract. 192. IF YOU RELIST WITH ANOTHER BROKER WITHIN THE OVERRIDE PERIOD AND THEN SELL AND/OR 193. LEASE YOUR PROPERTY TO ANYONE WHOSE NAME APPEARS ON THIS LIST,YOU COULD BE LIABLE 194. FOR FULL COMMISSIONS TO BOTH BROKERS. IF THIS NOTICE IS NOT FULLY UNDERSTOOD, SEEK 195. COMPETENT ADVICE. 196. As security for Broker's compensation, Seller and/or Lessor hereby grants to Broker a security interest in the lease 197. payments from the lease of the Property or proceeds from a sale and any title company or other closer who conducts 198. the closing on the sale and/or lease of the Property is directed to disburse the Broker's compensation provided here 199. to Broker at the time of closing. 200. COMPENSATION DISCLOSURE: Broker❑✓ SHALL❑SHALL NOT offer compensation to cooperating brokers. ---------------(Check one)--------------- 201. If SHALL, the compensation to cooperating brokers shall be as follows: 202. � 2�4 °/a of the gross sales and/or lease price or $ NA , whichever is greater, to 203. cooperating brokers representing buyer and/or tenant. 204. ❑ NA % of the gross sales and/or lease price or $ NA , whichever is greater, to 205. cooperating brokers assisting buyer and/or tenant. ZOG. � Other: If lessor leases to a Tenant represented by a real estate agent not licensed with Close Converse,Inc,the leasing fee shall be the average monthly gross 207 rent for the initial term of the lease multiplied be three(3)and Landlord shall pay the tenanYs agent directly a fee agreed upon by Lessor and tenanYs agent 208. FORFEITURE OF EARNEST MONEY: If a buyer of the Property defaults and as a result forfeits the earnest money, 209. Seller shall receive 93 percent (%) and Broker shall receive � percent (%) of the earnest money. 210. CLOSING SERVICES: 211. NOTICE: THE REAL ESTATE BROKER, LICENSEE REPRESENTING SELLER OR REAL ESTATE 212. CLOSING AGENT HAS NOT EXPRESSED AND, UNDER APPLICABLE STATE LAW, MAY NOT 213. EXPRESS OPINIONS REGARDING THE LEGAL EFFECT OF THE CLOSING DOCUMENTS OR OF 214. THE CLOSING ITSELF. 215. After a purchase agreement for the Property is signed, arrangements must be made to close the transaction. Seller 216. understands that Seller may arrange for a qualified closing agent or attorney to conduct the closing, or Seller may 217. ask Broker to arrange for the closing.Seller understands that Seller may be required to pay certain closing costs which 218. may effectively reduce the proceeds from the sale. 219. Seller's choice for closing services: (Check one.) 220. �Seller directs Broker to arrange for a qualified closing agent to conduct the closing. 221. ❑Seller shall arrange for a qualified closing agent or Seller's attorney to conduct the closing. 222. (Seller's Initials) (Seller's Initials) MNC:LC:E-5(8/19) M I N N E S O T A REALTORS �.._�_...... ..