5. EDSR 06-17-2013 - Laserfiche WebLink

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COMMERCIAL PURCHASE AGREEMENT 171. Page 5 Date 06/10/13 172. Property located at 11110 Industrial Elk River 173. DUAL AGENCY DISCLOSURE: Dual agency occurs when one broker or salesperson represents both parties to a 174. transaction, or when two salespersons licensed to the same broker each represent a party to the transaction. Dual 175. agency requires the informed consent of all parties,and means that the broker or salesperson owes the same fiduciary 176. duties to both parties to the transaction.This role limits the level of representation the broker and salespersons can 177. provide,and prohibits them from acting exclusively for either party.In dual agency,confidential information about price, 178. terms and motivation for pursuing a transaction will be kept confidential unless one party instructs the broker or 179. salesperson in writing to disclose specific information about him or her.Other information will be shared.Dual agents 180. may not advocate for one party to the detriment of the other. 181, CONSENT TO DUAL AGENCY 182. Broker represents both parties involved in the transaction, which creates a dual agency.This means that Broker and 183. its salespersons owe fiduciary duties to both parties.Because the parties may have conflicting interests,Broker and its 184. salespersons are prohibited from advocating exclusively for either party. Broker cannot act as a dual agent in this '. 185. transaction without the consent of both parties.Both parties acknowledge that 186. (1) confidential information communicated to Broker which regards price,terms or motivation to buy,sell or lease will 187. remain confidential unless the parties instruct Broker in writing to disclose this information.Other information will 188. be shared; 189. (2) Broker and its salespersons will not represent the interest of either party to the detriment of the other;and 190. (3) within the limits of dual agency, Broker and its salesperson will work diligently to facilitate the mechanics of the 191. sale. 192. With the knowledge and understanding of the explanation above, the parties authorize and instruct Broker and its 193. salespersons to act as dual agents in this transaction. � -"� 194. SELLER: r BUYE-•P.ter - 195. By: By: w ; 196. I Its: Ple7S 0�/ t l�� 197. - (Date) (Date) 198. SELLER: BUYER: 199. By:. By: 200. Its: Its: 201. - (Date) (Date) 202. MISCELLANEOUS PROVISIONS. 203. (a) Survival.All of the warranties, representations and covenants of this Agreement shall survive and be enforceable 204. after the closing. 205. (b) Entire Agreement; Modification.This Purchase Agreement constitutes the complete agreement between the 206. parties and supersedes any prior oral or written agreements between the parties regarding the property.There 207. are no verbal agreements that change this Purchase Agreement and no waiver of any of its terms will be effective 208. unless in writing executed by the parties. 209. (c) Successors and Assigns. If this Purchase Agreement is assigned, all provisions of this Purchase Agreement 210. shall be binding on successors and assigns. MNC:PA-5(10/12) FS$a6�;`i$ orms:'