CCP 09-08-2009 - Laserfiche WebLink

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MBGCOMMERCIAL EXCLUSIVE 4725 Excelsior �eulev saMN 55400 LISTING AGREEMENT - SALE (952) 922-4405 (5) If SELLER contributes or conveys the Property to a partnership, joint venture or other business entity, then the Commission will be due and payable on the date of such transfer. (6) If 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, then the Commission will be due and payable on the date of such transfer. (7) If SELLER takes the Property off the market for reasons beyond BROKER'S control and BROKER has been marketing the Property, SELLER shall pay BROKER ten percent (10%) of the Commission that BROKER would have earned if the Property had sold at the price set forth in the Sale Terms. (8) If the purchaser of the Property pursuant to a Purchase Agreement with SELLER fails to perform and forfeits its earnest money deposit to SELLER, then fifty (50%) percent of the earnest money deposit received by SELLER shall be paid to BROKER as BROKER'S Commission under this Agreement. (9) If in lieu of selling the Property, SELLER elects to lease the Property and BROKER secures a tenant for the Property on terms and conditions reasonably acceptable to SELLER, SELLER shall pay BROKER a fee as indicated in the Commission Schedule on the date SELLER executes such lease. It is acknowledged that the Commission is and shall be deemed a share of all or any portion of any purchase price received by SELLER, and BROKER shall be secured by, and shall have a security interest in, such funds until the brokerage fee is paid. In the event SELLER fails to pay the Commission when due, then from the date due until paid, the delinquent amount shall bear interest at the greater of (a) 12% per annum, or (b) the maximum rate permitted in the state in which the office of the BROKER executing this Agreement is located. If BROKER is required to institute legal action against SELLER relating to this Agreement, BROKER shall be entitled to reimbursement of all BROKER'S reasonable attorneys' fees and costs. D. BROKER's Marketing Efforts. As part of BROKER's efforts to market the Property for sale, BROKER agrees to employ its standard marketing practices and incur costs and expenses in connection with electronic marketing, designing and printing of marketing flyers and/or postcards, completion of prospect mailings and other printed standard marketing materials. If SELLER requests that BROKER provide any marketing services outside the scope of the standard practices mentioned above, then BROKER will obtain SELLER's prior approval of the costs and expenses associated with such additional marketing. 4. BROKER'S Scope of Services. SELLER hereby grants BROKER, during the Term, the exclusive right to market and sell, exchange or convey the Property at the price and on the as mutually agreed upon by SELLER and BROKER. It is agreed that SELLER shall promptly furnish BROKER with complete information concerning any person who during the Term of this Agreement makes inquiry to SELLER regarding the sale, exchange or conveyance of the Property. To the extent that SELLER fails to 3