8.2. SR 09-08-2020 - Laserfiche WebLink

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COMMERCIAL LISTING CONTRACT: EXCLUSIVE 182. Page 5 183. Property located at 413 Proctor Ave NW Elk River MN 55330 184. 8. Seller and/or Lessor is a partnership or other business entity, and an interest in the partnership or other business 185. entity is transferred, whether by merger, outright purchase and/or lease or otherwise in lieu of sale and/or lease 186. of the Property during the term of this Contract; or 187. 9. If within 18 0 _ days (not to exceed six (6) months, except for the purchase or sale of a business in which case 188. it cannot exceed two (2) years) after the end of this Contract, Seller and/or Lessor sells and/or leases or agrees 189. to sell and/or lease the Property to anyone who has made an affirmative showing of interest in the Property by 190. responding to an advertisement or by contacting the Broker or salesperson involved or has been physically shown 191. the Property by the Broker or salesperson. It is understood that Broker shall not seek to enforce collection of a 192. compensation under this subparagraph nine (9) unless the name and address of the prospect is on a written list 193. given to Seller and/or Lessor within 72 hours after expiration of this Listing Contract. 194. IF YOU RELIST WITH ANOTHER BROKER WITHIN THE OVERRIDE PERIOD AND THEN SELL AND/OR 195. LEASE YOUR PROPERTY TO ANYONE WHOSE NAME APPEARS ON THIS LIS,% YOU COULD BE LIABLE 196. FOR FULL COMMISSIONS TO BOTH BROKERS. IF THIS NOTICE IS NOT FULLY UNDERSTOOD, SEEK 197. COMPETENT ADVICE. 198. As security for Broker's compensation, Seller and/or Lessor hereby grar to Rro4er a'security interest in the lease 199. payments from the lease of the Property or proceeds from a sale and a tit company or dither closer who conducts 200. the closing on the sale and/or lease of the Property is directed to dL%bursothe Broker'sVmp)Bnsation provided here 201. to Broker at the time of closing. 202. COMPENSATION DISCLOSURE: Broker ❑X SHALL ❑ SHALL NOT offwcort)pensation to cooperating brokers. ---------------(Check 203. If SHALL, the compensation to cooperating brokers shall be asVlows: 204. ❑ % of the gross sales and/or lease prior $ , whichever is greater, to 205. cooperating brokers representing buyer anaTur tenant 206. ❑ % of the gross sales and/or lease pi ce car-$ _ _ , whichever is greater, to 207. cooperating brokers assisting buyer and/or tenant. , 208. FRI Other: 3% of the gross sales price and/or $1.0;; psf per year of leased space to 209 cooperating brokers representing buyer and/o !:.enant. 210. FORFEITURE OF EARN EV MONEY: If gkuypr of the Pr9perky defaults and as a result forfeits the earnest money, 211. Seller shall receive _100 -_ perceM*) and Broker itftli,oeceive 0 percent (%) of the earnest money. 212. CLOSING SERVICES: 213. NOTICE: TA RRAL 1E.�TA-N BRQKE)Ri., LICENSEE REPRESENTING SELLER OR REAL ESTATE 214. AGLOSI`NG AGED HAS NOT EX'V',RESSED AND, UNDER APPLICABLE STATE LAW, MAY NOT 215. `FXPRESS OPINION RkGARG THE LEGAL EFFECT OF THE CLOSING DOCUMENTS OR OF 216. TN CLOSING ITSELF. 217. After a purchase aWeenr ant for tl4e Property is signed, arrangements must be made to close the transaction. Seller 218. understands that SeNr ma* arfan for a qualified closing agent or attorney to conduct the closing, or Seller may 219. ask Broker to arrange fly the cl ng. Seller understands that Seller may be required to pay certain closing costs 220. which may effectively reduce tpe proceeds from the sale. 221. Seller's choice for closing services: (Check one.) 222. ❑ Seller directs Broker to arrange for a qualified closing agent to conduct the closing. 223. ❑ Seller shall arrange for a qualified closing agent or Seller's attorney to conduct the closing. 224. (Seller's Initials) (Seller's Initials) MNC:LC:E-5 (8/20) Minnesota Realtors TRANSACTIONS Tr sacdon0esk Edlfien