7.1. EDSR 12-20-2021 - Laserfiche WebLink

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226. Property located at COMMERCIAL LISTING CONTRACT: EXCLUSIVE 225. Page 6 Elk River 55330 227. ADDITIONAL COSTS: Seller acknowledges that Seller may be required to pay certain closing costs, which may 228. effectively increase the cash outlay at closing. 229. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA"): Section 1445 of the Internal Revenue Code 230. provides that a transferee ("Buyer") of a United States real property interest must be notified in writing and must 231. withhold tax from the transferor ("Seller") if the transferor ("Seller") is a foreign person, provided there are no applicable 232. exceptions from FIRPTA withholding. 233. Seller represents and warrants that Seller ❑ IS ❑Q IS NOT a foreign person (i.e., a non-resident alien individual, -------(Check one) ------ 234. foreign corporation, foreign partnership, foreign trust, or foreign estate) for purposes of income taxation. 235. Due to the complexity and potential risks of failing to comply with FIRPTA, Seller shot 16 seek appropriate legal and 236. tax advice regarding FIRPTA compliance, as Broker will be unable to confirm*irhether Seller is a foreign person 237. or whether the withholding requirements of FIRPTA apply. 238. AGENCY REPRESENTATION: 239. ❑ Seller and/or Lessor will agree to a dual agency representation,E(nd'will"consider-gffers made by buyers and/or 240. tenants represented by Broker. 241. ❑ Seller and/or Lessor will not agree to a dual agency representation and Will, not consideroffers%by buyers and/ 242. or tenants represented by Broker. 243. Real Estate Company Name: "aero Real Estate Na LLC Hardin Campanieq 244. By: (Licensee) 245. Seller and/or Lessor: 246. Seller and/or Lessor: Date: Date: 247. OTHER POTENTIAL SELLERS AND/OR LESSORS -.,,.Seller and/or Lessor understands that Broker may list other 248. properties during the term of this -Contract, Seller and/or\Lessor consents to Broker representing such other potential 249. sellers and/or lessors before,,during, and atter the expiration of this Contract. 250. PREVIOUS AGENCY RELAT40NSHIP.S: Broker, o`r licensge representing Seller and/or Lessor, may have had a 251. previous agency relationship witl a buyer.and/ox tenantpf Seller's and/or Lessor's Property. Seller and/or Lessor 252. acknowledges that -Bkro�ker, -or licensee representing -Seller and/or Lessor, is legally required to keep information 253. regarding the ultilmate price and,terrrsk the buyer and/or tenant would accept and the motivation for buying and/or 254. leasing confid6ntial, i(knowR, 255. TERMINATlOp OF''FIDUCIARY DUTIES: Broker's fiduciary duties, except the duty of confidentiality, terminate upon 256. the successful elosingland/or lease of the Property(ies) specified in this Contract or expiration or cancellation of this 257. Contract, whichever occurs first.. 258. INDEMNIFICATION: Br*er will rely on the accuracy of the information Seller and/or Lessor provides to Broker. Seller 259. and/or Lessor agrees to indemnify and hold harmless Broker from and against any and all claims, liability, damage, 260. or loss arising from any misrepresentation, misstatement, omission of fact, or breach of a promise by Seller and/or 261. Lessor. Seller and/or Lessor agrees to indemnify and hold harmless Broker from any and all claims or liability related 262. to damage or loss to the Property or its contents, or any injury to persons in connection with the marketing of the Property. 263. Indemnification by Seller and/or Lessor shall not apply if the damage, loss, or injury is the result of the gross negligence 264. or willful misconduct of the Broker. MNC:LC:E-6 (8/20) Minnesota Realtors* TRANSACTIONS TrIAW On0esk Editbn