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138. Property located at 413 Proctor Ave NW COMMERCIAL LISTING CONTRACT: EXCLUSIVE 137. Page 4 Elk River MN 55330 139. COMPENSATION FOR LEASE: (To be completed only if Property is being offered for lease.) Lessor shall pay Broker a 140. retainer fee of $ -_ when Lessor signs this Contract. Broker shall keep this fee even 141. if Lessor does not lease the Property. It is further agreed that Lessor shall pay Broker a brokerage fee of: 142. (Check any that apply.) 143. ❑ 144. ❑ 145. ❑ $ 146. ❑ $ 147. ❑ $ percent (%) of the total gross obligation of the lease price; percent (%) of the total net obligation of the lease price; per useable square foot; r rentable square foot; 148. X1 OTHER: $2.00 per square foot per year of leased space. 149. 150. 151. upon the occurrence of any of the following conditions, identified inlines,153-201 andi4aid Osthe following manner: 152. 50 percent (%) upon lease execution and 50 percale (*upon lease occupancy. 153. COMPENSATION CONDITIONS: 154. 1. The sale and/or lease, contract for sale and/or lease, exchaNe ortonv,pyance of the Property during the period 155. of this Contract by Broker or any other persor__including but Rat lirrdted to, Seller and/or Lessor or any other 156. agent or broker not a party to this Contract, ii ac'rdance with pride, terms, or exchange as set forth here 157. or as otherwise consented to by Seller and/aft' Lessor; - 158. 2. A buyer and/or tenant is procured, whether by�Broker,-Ei@ller armor Lessor or anyone else, who is ready, willing 159. and able to purchase and/or lease the Property,#t the pride and tern efforth above and Seller and/or Lessor 160. refuses to sell and/or lease; 161. 3. A Seller and/or Lessor agree§,(o sell and)br lease tine Property before the expiration of this Contract, and Seller 162. refuses to close the sale a6d/or Lessor refuses to pominence the lease in accordance with the terms of the 163. executed lease agreemerl�; 164. 4. A Seller and/or Lessor reTove6,the Pope e rT"et before expiration of this Listing Contract; 165. 5. If Seller and/or Lessor grants ap option a anger lease the Property, Seller and/or Lessor shall compensate 166. Broker, as provielgffhei6, based op the mice paid fortheoption and for any extensions of the option. This compensation 167. shall be paid"upog ra�peipt bysellw ancYor Lessor of any such payments. In the event such option is exercised, 168. whetherduringthe term OlVis dbntract�or udlljtrin 6_ months after, Seller and/or Lessor shall also compensate 169. Broker lckn the`gross sale and/or f'6ase pHW of the Property in accordance with the provisions here. 170. Notwithstanding the foregoing, ro thT extent that all or part of the price paid for the option or any extension of the option 171. is applied to the sA and/or Idase price of the Property, then any compensation previously paid by Seller and/or 172. Lessor to Broker on abcou& of such option payments shall be credited against the compensation payable to 173. Broker on account V the exerpt'se of the option; 174. 6. During the term of this �hg Contract or within 180 _ days (not to exceed six (6) months, except for the 175. purchase or sale ofa business in which case it cannot exceed two (2) years) after the expiration of this Listing Contract: 176. (a) the Property is acquired by a public authority; 177. (b) an agreement to acquire the Property is reached with a public authority; or 178. (c) a public authority institutes eminent domain/condemnation proceedings to acquire the Property; 179. 7. Seller and/or Lessor contributes or conveys the Property or any interest therein to a partnership, joint venture or 180. other business entity during the term of this Contract in lieu of a sale and/or lease of the Property during the term 181. of this Contract; MNC:LC:E-4 (8/20) Minnesota Realtors® TRANSACTIONS Tranaaction°ak Edition