8.6. EDSR 01-17-2023 - Laserfiche WebLink

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COMMERCIAL LISTING CONTRACT: EXCLUSIVE 182. Page 5 183. Property located at Multiple Parcels see Lines 292-298 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 180 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 LIST, 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 grants to Broker a security interest in the lease 199. payments from the lease of the Property or proceeds from a sale and any title company or other closer who conducts 200. the closing on the sale and/or lease of the Property is directed to disburse the Broker's compensation provided here 201. to Broker at the time of closing. 202. COMPENSATION DISCLOSURE: Broker ❑X SHALL ❑ SHALL NOT offer compensation to cooperating brokers. --------------- } (Check one.-------------- 203. If SHALL, the compensation to cooperating brokers shall be as follows: 204. ❑ % of the gross sales and/or lease price or $ 205. cooperating brokers representing buyer and/or tenant. 206. ❑ % of the gross sales and/or lease price or $ 207. cooperating brokers assisting buyer and/or tenant. 208. ❑iif Other: See Lines 299-302 209 -_ , whichever is greater, to , whichever is greater, to 210. FORFEITURE OF EARNEST MONEY: If a buyer of the Property defaults and as a result forfeits the earnest money, 211. Seller shall receive 100 percent (%) and Broker shall receive 0 percent (%) of the earnest money. 212. CLOSING SERVICES: 213. NOTICE: THE REAL ESTATE BROKER, LICENSEE REPRESENTING SELLER OR REAL ESTATE 214. CLOSING AGENT HAS NOT EXPRESSED AND, UNDER APPLICABLE STATE LAW, MAY NOT 215. EXPRESS OPINIONS REGARDING THE LEGAL EFFECT OF THE CLOSING DOCUMENTS OR OF 216. THE CLOSING ITSELF. 217. After a purchase agreement for the Property is signed, arrangements must be made to close the transaction. Seller 218. understands that Seller may arrange for a qualified closing agent or attorney to conduct the closing, or Seller may 219. ask Broker to arrange for the closing. Seller understands that Seller may be required to pay certain closing costs 220. which may effectively reduce the 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. ❑X 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 7--ti-NA kcal.,