4.6. SR 09-21-2020 - Laserfiche WebLink

Home Browse Search

3 Data Practices Act, including but not limited to the civil remedies of Minnesota Statutes Section 13.08, as if it were a government entity. In the event Broker receives a request to release data, Broker must immediately notify City. City will give Broker instructions concerning the release of the data to the requesting party before the data is released. Broker agrees to defend, indemnify, and hold City, its officials, officers, agents, employees, and volunteers harmless from any claims resulting from Broker’s officers’, agents’, partners’, employees’, volunteers’, assignees’ or subcontractors’ unlawful disclosure and/or use of protected data. The terms of this paragraph shall survive the cancellation or termination of this Agreement. f. Except as otherwise provided herein, neither party shall assign this Agreement, nor any interest arising herein, without the written consent of the other party. Receipt is acknowledged of a copy of this Agreement. BROKER: OWNER: Integrust Advisory Group, LLC, a Minnesota Limited Liability Company dba IAG Commercial The City of Elk River By: By: Jeffrey L. LaFavre, CCIM, MCR, SIOR Its: President Its: Date: September 21, 2020 Date: COMMISSION SCHEDULE SALE COMMISSION SCHEDULE: If Owner executes any purchase agreement or other contract concerning the sale of all or any portion of the Property during the term of this Agreement, or enters into such an agreement during the Protective Period with a person or entity described in Section 4 hereof, Owner will pay Broker a sale commission ("Sale Commission") in an amount determined as follows: 5% of sales price at closing if sale is direct. 6% of sales price at closing if a co-broker is involved. Broker will cover the cost of marketing the propery. See “Other Terms” on the first page. The “Seller Protected List” is attached hereto as Exhibit A attached to this Exclusive Representation Agreement. Seller Protected List is defined as any party who has inquired with the City of Elk River concerning the availability of the Property prior to September 14, 2020. Seller will provide Broker the Seller Protected List with three (3) days of the date of this Agreement. Seller agrees that none of the parties on the Seller Protected List are represented by a broker and thus that any sale to any party on the Seller Protected List” is a direct sale. • In the event that a Purchase Agreement is entered into with a party identified on the Seller Protected List within 30 days of the date of the Agreement which ultimately closes, the Sale Commision due Broker will be reduced to 3%. • In the event that a Purchase Agreement is entered into with a party identified on the Seller Protected List within 60 days of the date of the Agreement which ultimately closes, the Sale Commision due Broker will be reduced to 4%. • In the event that a Purchase Agreement is entered into with a party identified on the Seller Protected List after 60 days of the date of the Agreement which ultimately closes, the Sale Commision due Broker will be 5%. Such Sale Commission shall be payable upon Owner's consummation of any "Sale" transaction. As used herein, the term "Sale" shall include any transaction involving a voluntary conveyance and disposition of the Property by Owner including without limitation, a like- kind exchange transaction under §1031 of the Internal Revenue Code, any transaction in which the Property is contributed by Owner as capital to a partnership, corporation, limited liability company or other investment entity, acquisition of the Property by a public authority in eminent domain proceedings or by deed in lieu thereof, or if Owner is a business entity, the transfer by merger, acquisition or otherwise of the equity interest in Owner in lieu of a conveyance of the Property. If Owner grants an option or options to sell all or any portion of the Property during the term of this Agreement or grants such an option during the Protective Period to a person or entity described in Section 4 hereof, a Sale Commission in the amount determined as follows shall be paid: 6% of sales price at closing if a co-broker is involved and 5% if direct. "IF YOU RELIST WITH ANOTHER BROKER WITHIN THE OVERRIDE PERIOD AND THEN SELL YOUR PROPERTY TO ANYONE WHOSE NAME APPEARS ON THIS LIST, YOU COULD BE LIABLE FOR FULL COMMISSIONS TO BOTH BROKERS. IF THIS NOTICE IS NOT FULLY UNDERSTOOD, SEEK COMPETENT ADVICE."