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2. Term of Agency. The term of this Agreement shall be for a period of two years <br /> commencing on June 28, 2011 and terminating on June 27, 2013; provided, however, that this <br /> Agreement may be terminated earlier in accordance with the provisions of paragraph 9 hereof. <br /> 3. Acceptance by Agent and Duties of Agent. Agent hereby accepts such agency <br /> and agrees to perform all services appropriate and necessary for the sale of the Property. Agent <br /> at its sole cost shall: <br /> a. Use its best efforts to procure and follow up with qualified purchasers for <br /> the Property and assist City and its agents or representatives (to the extent <br /> requested by City) in the negotiation of all contracts and related <br /> documents for the sale of the Property. Agent shall not have the right to <br /> sign any contract or agreement on behalf of City; and it is expressly <br /> understood that all agreements or other documents in connection therewith <br /> shall be submitted to City and be executed as owner. City shall have the <br /> absolute right, in its sole discretion, to accept or reject any proposed <br /> purchase, and to change its requirements as to the terms and form of an <br /> acceptable sales contract and related documents, whether before or after <br /> submission to a proposed purchaser. Agent shall have no right to grant <br /> any options to purchase the Property, to lease the Property or any of the <br /> City's other properties, or to negotiate for any other transaction <br /> whatsoever other than the sale of the Property upon such terms as City <br /> may designate. <br /> b. Prepare a sales brochure describing the Property and the market, obtain for <br /> and provide to prospective purchasers such information regarding the <br /> Property pertinent to the proposed purchasers with respect to the sale of <br /> the Property, and conduct an aggressive canvassing campaign in the <br /> market area and on a regional level to identify and communicate with <br /> qualified purchasers. <br /> c. Post sales brochure and other pertinent site marketing information on <br /> Agent's website and/or database, the MNCAR exchange website, <br /> LOOPNET, Costar and other websites as commercially prudent and as <br /> directed by City. <br /> d. Conduct a direct mail campaign and broker fax and/or e-mail program at <br /> least quarterly. <br /> e. Erect marketing signage at area(s) located on the site as directed by City. <br /> 2 <br />