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CrS <br />COMMERCIAL REALTY SOLUTIONS <br />144 413 Proctor Ave NW, Elk River, MN <br />145 Page 5 <br />146 <br />147 <br />148 FORFEITURE OF EARNEST MONEY <br />149 <br />150 If a buyer of the PROPERTY defaults and as a result forfeits the earnest money, SELLER shall <br />151 Receive 75 percent (%) and BROKER shall receive 25 percent (%) of the earnest money. <br />152 <br />153 CLOSING SERVICES <br />154 <br />155 After a purchase agreement for the PROPERTY is signed, arrangements must be made to close <br />156 the transaction. SELLER understands the SELLER may arrange for a qualified closing agent or <br />157 attorney to conduct the closing, or SELLER may ask BROKER to arrange for closing. <br />158 <br />159 SELLER understands that SELLER may be required to pay certain closing costs which may <br />160 effectively reduce the proceeds from the sale. SELLER has indicated his/her/its choice for <br />161 closing services. (initial one) <br />162 <br />163 SELLER wishes to have BROKER arrange for closing services. <br />164 <br />165 SELLER shall arrange for closing services. <br />166 <br />167 MISCELLANEOUS <br />168 <br />169 1. This Agreement is binding upon the heirs, successors and assigns of the parties. <br />170 2. All of the representations and covenants of this Agreement shall survive and be <br />171 enforceable after termination of the Agreement. <br />172 3. In the event of any litigation instituted by SELLER or BROKER to enforce the provisions <br />173 of this Agreement, the prevailing party shall recover reasonable attorneys' fees, costs and <br />174 expenses from the other party. <br />175 4. This Agreement constitutes the complete agreement between the parties and supersedes <br />176 any prior oral or written agreements between the parties relative to the provisions herein. <br />177 No amendment, modification or extension of this Agreement shall be valid or binding <br />178 unless made in writing and signed by both the SELLER and BROKER. <br />179 <br />