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• <br />MBS COMMERCIAL EXCLUSIVE 4725 Excelsior Boulevard, suite 500 <br />Mmueapolis, MN 55416 <br />LISTING AGREEMENT - SALE (952) 9224405 <br />This COMMERCIAL EXCLUSIVE LISTING AGREEMENT — SALE (the "Agreement") is <br />entered into this day of , ,2009 by and between MINNESOTA BROKERAGE <br />GROUP ("BROKER") and City of New Brighton, Minnesota ("SELLER") <br />A. SELLER is the owner of that certain property commonly known as Vacant land parcel_ _ <br />more commonly known as the former Caldwell Vet Clinic site and having a PIN # of 29-30-23-13-0023 <br />and consisting of approximately 59,633 square feet or 1.37 acres located at 609 Old Highway 8 NW New <br />Brihton MN 55112 (the "Property"). <br />B. SELLER desires to engage BROKER to undertake to sell the Property and SELLER desires to <br />grant to BROKER the exclusive right to sell or contract to sell the Property during the Term (as defined <br />below) for the sum of See E — "Genergl Understandinga s" upon the following terms, <br />cash, or at any other price, terms or exchange to which the SELLER may consent. <br />AGREEMENT <br />NOTICE: THE COMMISSION RATE FOR THE SALE, LEASE, RENTAL OR <br />MANAGEMENT OF REAL PROPERTY SHALL BE DETERMINED BETWEEN <br />EACH INDIVIDUAL BROKER AND ITS CLIENT. <br />Recitals. The foregoing recitals are incorporated into this Agreement. <br />2. Term. The term of this Agreement is for a period of [Twelve (12)] months (the "Term") <br />commencing on , 2009 and ending at 12:00 p.m. (Midnight) on , 2010. In the <br />event the Property is removed from the market due to the opening of an escrow or acceptance of an offer to <br />purchase the Property during the Term, or any extension thereof, and the sale is not consummated for any <br />reason, then, in that event, the Term shall be extended for a period of time equal to the number of days that <br />the escrow had been opened and/or the Property had been removed from the market, whichever. is longer, <br />provided that, in no event shall such extension(s) exceed 180 days in the aggregate. If, during the Term of <br />this Agreement, an escrow is opened or negotiations involving the sale, transfer, conveyance or leasing of <br />the Property have commenced and are continuing, then the Term of this Agreement shall be extended <br />through the closing of such escrow, the termination of such negotiations or the consummation of such <br />transaction. <br />3. Commission and Related Fees. SELLER shall pay BROKER a brokerage fee (the <br />"Commission") in accordance with the Commission Schedule (hereinafter referred to as the "Schedule") <br />attached hereto and made a part hereof as Exhibit A. <br />A. Commission Earned. The Commission shall be deemed earned by BROKER upon <br />occurrence of any of the following conditions: <br />(1) The sale, contract for sale, lease in lieu of sale, exchange, or conveyance of <br />the Property during the Term of this Agreement procured or facilitated by BROKER or any other person, <br />including but not limited to SELLER, or any other agent or broker not a party to this Agreement, in <br />accordance with the Sale Terms or as otherwise consented to by SELLER; or <br />