5. EDSR 06-17-2013 - Laserfiche WebLink

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COMMERCIAL CONTRACT FOR EXCLUSIVE RIGHT TO REPRESENT BUYER AND/OR TENANT • 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. ©2012 Minnesota Association of REALTORS®,Edina,MN 1. Date 06/10/13 2. Page 1 3. DEFINITIONS: Buyer and/or Tenant is Professional Service Bureau, Inc. (Buyer and/or 4. Tenant).Broker is Briggs Properties Inc. -- (Real Estate Company Name) 5. (Broker). Buyer and/or Tenant gives Broker the exclusive right to locate and/or to assist in negotiations for the 6. © PURCHASE, exchange or option to purchase (Purchase) © LEASE, or option to lease (Lease) -------------------(Check all that apply.)- - 7. commercial, industrial, or investment property at a price and with terms acceptable to Buyer and/or Tenant. (It only 8. PURCHASE is checked,all references to Tenant or lease do not apply.If only LEASE is checked,all references to Buyer 9. or Purchase do not apply.) This Contract starts on June 10th ,20 13 ,and ends at 11:59 p.m.on 10, • June 10th , 20 16 . This Contract may only be canceled by written mutual agreement of the parties. 11. BROKER'S OBLIGATION: Broker shall make a reasonable effort to locate property acceptable to Buyer and/or 12. Tenant.Broker shall use professional knowledge and skills to assist in negotiations for the Purchase and/or Lease of 13. property.Broker shall assist Buyer and/or Tenant throughout the transaction.Broker shall act in Buyer's and/orTenani's 14. best interest at all times.Broker shall comply with all applicable nondiscrimination regulations. 15. BUYER'S AND/OR TENANT'S OBLIGATION: Buyer and/or Tenant shall work exclusively with Broker for the 16. Purchase and/or Lease of property.Buyer and/or Tenant shall promptly furnish to Broker accurate and relevant personal 17. financial information to ascertain Buyer's and/or Tenant's ability to Purchase and/or Lease property, if requested. 18. Buyer and/or Tenant shall cooperate with Broker in finding a property to Purchase and/or Lease. After a purchase and/ 19. or lease agreement has been accepted by seller and/or lessor, Buyer and/or Tenant is legally obligated to Purchase 20. and/or Lease the property. If Buyer refuses to close the Purchase and/or Tenant refuses to commence the Lease in 21. accordance with the terms of the executed lease agreement for any reason other than the failure of the seller and/or 22. lessor to perform,subject to relevant contingencies,Buyer and/or Tenant shall pay Broker all compensation due under 23. this Contract. 24. NOTICE: THE COMPENSATION FOR THE PURCHASE, LEASE, RENTAL OR MANAGEMENT OF REAL .25. PROPERTY SHALL BE DETERMINED BETWEEN EACH INDIVIDUAL BROKER AND THE BROKER'S 26. CLIENT. 27. BROKER'S COMPENSATION (Fill in all Blanks.): 28. COMPENSATION FOR PURCHASE: Buyer agrees to compensate Broker if Buyer or any other person acting on 29. Buyer's behalf agrees to Purchase any property during the term of this Contract.Buyer shall pay Broker a retainer fee 30. of $ 1.00 when Buyer signs this Contract. Broker shall keep this fee even if Buyer 31. does not Purchase property. The retainer paid shall apply toward satisfaction of Buyer's obligation to compensate 32. Broker.Buyer shall pay Broker, as Broker's compensation, (check any that apply): 33. © 3 percent(%)of the selling price; 34. ❑ $ 35. ❑ $ per square foot; 36. ❑ OTHER: 37. • 38. 39. when Buyer closes the Purchase, or upon the occurrence of any of the following conditions,indentified in lines 56-69. MNC:CERRB-1 (10/12) tazn' - Torrm