11.02 Close Converse Commercial Listing Contract

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COMMERCIAL LISTING CONTRACT: EXCLUSIVE 223. Page 6 224. Property located at Approx 85 acres known as The Heart of the Good Life Development 225. ADDITIONAL COSTS: Seller acknowledges that Seller may be required to pay certain closing costs, which may 226. effectively increase the cash outlay at closing. 227. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA"): Section 1445 of the Internal Revenue Code 228. provides that a transferee("Buyer")of a United States real property interest must be notified in writing and must withhold 229. tax from the transferor("Seller")if the transferor("Seller")is a foreign person,provided there are no applicable exceptions 230. from FIRPTA withholding. 231. Seller represents and warrants that Seller ❑ IS 0 IS NOT a foreign person (i.e., a non-resident alien individual, -----(Check one.)---- 232. foreign corporation, foreign partnership, foreign trust, or foreign estate)for purposes of income taxation. 233. Due to the complexity and potential risks of failing to comply with FIRPTA, Seller shoufd seek appropriate legal and 234. tax advice regarding FIRPTA compliance,as Broker will be unable to confirm whether Seller is a foreign person 235. or whether the withholding requirements of FIRPTA apply. 236. AGENCY REPRESENTATION: 237. ❑✓ Seller and/or Lessor will agree to a dual agency representation and will consider offers made by buyers and/or 238. tenants represented by Broker. 239. ❑ Seller and/or Lessor will not agree to a dual agency representation and will not consider offers by buyers and/or 240. tenants represented by Broker. 241. Real Estate Company Name: Close Converse, Inc. 242 By: Nate Grotzke (Licensee) 243. Seller and/or Lessor: Date: 244. Seller and/or Lessor: Date: 245. OTHER POTENTIAL SELLERS AND/OR LESSORS: Seller and/or Lessor understands that Broker may list other 246. properties during the term of this Contract.Seller and/or Lessor consents to Broker representing such other potential 247. sellers and/or lessors before, during, and after the expiration of this Contract. 248. PREVIOUS AGENCY RELATIONSHIPS: Broker, or licensee representing Seller and/or Lessor, may have had a 249. previous agency relationship with a buyer and/or tenant of Seller's and/or Lessor's Property. Seller and/or Lessor 250. acknowledges that Broker, or licensee representing Seller and/or Lessor, is legally required to keep information 251. regarding the ultimate price and terms the buyer and/or tenant would accept and the motivation for buying and/or 252. leasing confidential, if known. 253. TERMINATION OF FIDUCIARY DUTIES: Broker's fiduciary duties, except the duty of confidentiality, terminate upon 254. the successful closing and/or lease of the Property(ies) specified in this Contract or expiration or cancellation of this 255. Contract, whichever occurs first. 256. INDEMNIFICATION: Broker will rely on the accuracy of the information Seller and/or Lessor provides to Broker.Seller 257. and/or Lessor agrees to indemnify and hold harmless Broker from and against any and all claims, liability, damage, 258. or loss arising from any misrepresentation, misstatement, omission of fact, or breach of a promise by Seller and/or 259. Lessor. Seller and/or Lessor agrees to indemnify and hold harmless Broker from any and all claims or liability related 260. to damage or loss to the Property or its contents,or any injury to persons in connection with the marketing of the Property. 261. Indemnification by Seller and/or Lessor shall not apply if the damage,loss,or injury is the result of the�ress negligence 262. or willful misconduct of the Broker. MNC:LC:E-6(8/19) M I N N E S O 7 A REALTORS �__._.._... _