CCP 09-08-2009 - Laserfiche WebLink

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COMMERCIAL EXCLUSIVE 4725 Excelsior Boulevard, site 500 MBG Minneapolis, MN 55416 LISTING AGREEMENT - SALE (952) 922-4405 (2) SELLER contributes or conveys the Property to a partnership, joint venture or other business entity; or (3) . SELLER is a corporation partnership or other business entity and an interest in such corporation, partnership or other business entity is transferred, whether by merger, outright purchase or otherwise, in lieu of a sale of the Property; or (4) The Property is acquired by, or an agreement to acquire the Property is reached with, a public authority by direct purchase; or (5) The institution of eminent domain proceedings to acquire the Property by a public authority. B. Termination and Protection. (1) The sale, contract for sale which subsequently closes, lease in lieu of sale, exchange, or conveyance of the Property within 180 days after the expiration of the Term to any prospect (i) with whom BROKER has negotiated; (ii) to whom BROKER has exhibited said Property; (iii) with whom BROKER had active, substantive negotiations during the Term (collectively, the "Protected Parties"), and the names of such Protected Parties were disclosed to SELLER, in writing, by BROKER not later than seventy-two (72) hours after the expiration of the Term; however, if a written offer has been submitted then it shall not be necessary to include the offeror's name on the list of Protected Parties. SELLER also agrees that if discussions, contact and/or negotiations remain ongoing and continue after expiration of the Term of this Agreement, then the above -referenced 180 day period shall be extended from the last discussion, contact or negotiation until such discussions, contact or negotiations cease. IF SELLER RELISTS THE PROPERTY WITH ANOTHER AGENT OR BROKER WITHIN THE ABOVE -REFERENCED 180 DAY PERIOD AND THEN SELLS THE PROPERTY TO ANY OF THE PROTECTED PARTIES ON THE LIST PROVIDED BY BROKER, THEN SELLER COULD BE LIABLE FOR FULL COMMISSIONS TO BOTH BROKERS. IF THIS NOTICE IS NOT FULLY UNDERSTOOD, SEEK COMPETENT ADVICE; or (2) In the event SELLER fails to perform upon a Purchase Agreement with a purchaser who is ready willing and able to purchase the Property on the same or better terms than those set forth in the Sale Terms. C. Payment of Commission. (1) The entire Commission shall be due and payable when earned or at the close of escrow of a Purchase Agreement between SELLER and the purchaser, or if there is no escrow, then upon delivery of the deed. (2) If the Property is conveyed by means of a contract for deed or other installment contract, then the Commission will be due and payable upon execution of such contract for deed or installment contract. (3) If a Commission is due as a result of an option to purchase the Property, the Commission will be due and payable in full upon SELLER'S execution of such option. 2