THIS AGREEMENT is made and entered into this __________ day of _________________, 20 ______, by and between
, (hereinafter referred to as
the "Owner"), and ______________________________________________, (hereinafter referred to as the "Broker").
WITNESSETH:
WHEREAS, the Owner desires to employ the Broker to sell
certain real and personal property of the Owner; and
WHEREAS, the Broker desires to accept such employment and
to use his best efforts to find a purchaser for the property of the Owner;
NOW, THEREFORE, in consideration of the covenants and agreements contained herein, the Owner and the Broker agree as follows:
l. The Broker is duly licensed as a real estate broker in the
State of ________________________ and maintains an office, properly equipped and staffed by employees suitable to render the services contracted for herein.
2. The Owner represents and warrants that he is the fee simple
owner of the property situated in the County of ___________, State of _______________________, described in Exhibit "A", attached hereto and made a part hereof by reference,
(herein after referred to as the "Property"), and that he
has good right and lawful authority to sell and convey said Property, and that said property is free of all encumbrances, except taxes accruing subsequent to , 20 ___, conditions, restrictions, easements, limitations and zoning ordinances of record, if any, and the encumbrances described in Exhibit "B", attached hereto and made a part hereof by reference.
3. In consideration of the Agreement of the Broker to list and
use his best efforts to find a purchaser for the Property of the Owner, and the further Agreement of the Broker to advertise the Property, the Owner hereby gives the Broker the right to sell the Property at the price and upon the terms as are set out in Exhibit "C", attached hereto and made a part hereof by reference, or at any lower price and upon such different terms as may be hereafter accepted by the Owner, without regard to the race, creed, color or place of national origin of any purchaser.
4. The term of this Agreement shall be ________________________
(_______) months, beginning on the date of execution hereof by both parties, and ending on the ___________________ day of _______________________, 20 ______, unless extended by the parties or sooner terminated as set out hereinafter.
5. The Owner agrees that interest on encumbrances, taxes,
insurance, and rents shall be prorated at the time of closing and all existing liens for improvements shall be paid by the Owner, prior to or at the time of closing, including, but not limited to, paving, water or sewer liens, unless otherwise set out herein.
6. The Owner hereby represents and warrants that the property
description, attached hereto as Exhibit "A", is correct and the Owner agrees to indemnify and hold the Broker and any and all others relying thereon, harmless as to any errors therein.
7. In the event that the Broker finds a purchaser for the
Property, the usual and customary procedures for the examination of and providing of merchantable title, and for the closing of transactions of this nature, shall apply, and the Owner agrees to deliver to the purchaser a good and sufficient Warranty Deed, free and clear of all liens and encumbrances, excepting those of record and those which the purchaser assumes as a part of the purchase price, all of
which are specifically set out in the attached Exhibit "B".
8. The Broker agrees to utilize, if available to the Broker,
advertisement of the Property through the local multiple listing service, at the Broker's sole expense; to inspect the Property and obtain complete information with reference thereto and to use its best efforts in securing a purchaser for the Property; to advertise the Property in local newspapers or other publications, as he deems necessary; to supply complete information to and assist cooperating brokers in any closing of a transaction on the Property, when requested; and to take all reasonable precautions to protect the Property of the Owner during the term of this Agreement.
9. The Owner agrees that he will not, during the term of this
Agreement, of any extension hereof, lease the Property or any portion thereof, mortgage or otherwise encumber the Property, without providing the Broker with full details of any such action in writing.
10. The Owner agrees to pay to the Broker, at the time of closing, a commission of ________________________ (_______%) percent of the sales price for the Property, in the event
of a sale or exchange of the Property during the term of
this Agreement, providing said sale is effected by the Broker, any cooperating broker, or any third party, other than Owner, or in the event that within sixty (60) days after the termination of this Agreement, the Owner agrees to sell the Property to a purchaser to whom the property was submitted by the Broker, any cooperating broker, or any third party, other than the Owner, during the term of this Agreement. The Owner hereby grants Broker permission to represent and receive commissions from both parties in any exchange of the Property.
11. In the event that the Owner obtains a Purchaser for the property and said sale was effected solely through the Owner's efforts, it is expressly understood and agreed that the Owner retains the right to enter into a contract for the sale and purchase of the Property with any such purchaser, and to close a sale pursuant thereto, without any liability to the Broker, any cooperating broker, or any third party, for a commission in any amount; however, at the time of closing, the Owner agrees to reimburse the Broker for any and all documented, reasonable out of pocket expenses incurred by the Broker during the term of this Agreement. Within twenty four (24) hours of initial contact with any such prospective purchaser, the Owner agrees to provide the Broker with the name, address and telephone number of any such prospective purchaser, and the exact circumstances under which the prospective purchaser obtained knowledge of the Property.
12. This Agreement may be terminated by either party, prior to a contract for sale and purchase being executed, upon written notice to the other party. In the event this Agreement is terminated by the Owner, the Owner agrees to reimburse the Broker for any and all documented, reasonable out of pocket expenses incurred by the Broker prior to termination hereof. The Owner understands and agrees that in the event the property is sold during the period following cancellation to the original expiration date of this Agreement, to any person, which sale was effected through the efforts of the Broker, any cooperating broker, or any third party, other than the Owner, then the cancellation shall be considered void and the Owner will be obligated to pay the Broker the agreed upon commission as set out herein.
13. The Broker, any cooperating broker, or any authorized escrow agent, is hereby authorized to accept and hold, on behalf
of the Owner, any and all money paid as a deposit or binder in regard to the Property, in accordance with the laws of the State of _______________, and it is expressly understood and agreed that, in the event of a forfeiture by a prospective purchaser, the Broker may retain fifty (50%) percent of any such deposit, or a sum equal to the commission which would have been paid to the Broker pursuant to the sale, whichever is less, as compensation.
14. It is expressly understood that this Agreement in no way guarantees a sale of the Property; however, the Broker does guarantee that it will use its continued best efforts to sell same during the term of this Agreement.
15. The Broker (may) (may not) use the name of the Owner in
connection with marketing or advertising the Property either before or after any sale pursuant hereto.
16. The Broker (may) (may not) utilize a lockbox system for purposes of access to the property by the Broker and cooperating brokers. The Owner expressly understands that use of a lockbox system may subject the property to damage and/or theft, and the Owner expressly indemnifies the Broker, any cooperating broker, and any person or entity connected therewith, from any and all liability in connection with any loss resulting therefrom.
17. The Owner hereby authorizes the Broker to solicit and obtain any and all information concerning the property and all mortgages and other encumbrances thereon, and the Owner agrees to execute any and all documents required for this purpose.
18. In the event that any one or more of the provisions of this Agreement shall for any reason be held to be invalid, such invalidity shall not affect any other provision of this Agreement.
20. This Agreement contains the entire agreement of the parties and no oral statements or prior agreements shall have any force and effect. This Agreement shall not be modified except by a writing executed by both parties hereto.
20. This agreement, and all transactions contemplated hereby, shall be governed by, construed and enforced in accordance with the laws of the State of ______________________. The parties herein waive trial by jury and agree to submit to
the personal jurisdiction and venue of a court of subject matter jurisdiction located in ______________ County, State of _________________. In the event that litigation results from or arises out of this Agreement or the performance thereof, the parties agree to reimburse the prevailing party's reasonable attorney's fees, court costs, and all other expenses, whether or not taxable by the court as costs, in addition to any other relief to which the prevailing party may be entitled. In such event, no action shall be entertained by said court or any court of competent jurisdiction if filed more than one year subsequent to the date the cause(s) of action actually accrued regardless of whether damages were otherwise as of said time calculable.
21. The covenants and agreements contained herein are binding upon the parties hereto and their respective heirs, successors, legal representatives and assigns, as the case may be.
22. It is expressly agreed that this Agreement will not be recorded in any form in the public records of any county.
IN WITNESS WHEREOF, the parties have hereunto set their
hands and seals the day and year first above set out.
"OWNER"
The street address of the property is:
(Description of Personal Property Included)
EXHIBIT "B"
Schedule of Encumbrances Against the Property
l. Mortgage Loan Number _____________________________________,
in favor of: ____________________________________________, whose address is _________________________________________, executed by _____________________________________________ on the __________ day of _________________________, 20 ______, in the original principal amount of $_____________________, with interest thereon at the rate of ______________________ (_______%) percent per annum, and payable as to principal
and interest in monthly installments of $_________________. Said Mortgage (is) (is not) assumable.
2. Mortgage Loan Number _____________________________________,
in favor of: ____________________________________________, whose address is __________________________________________,
executed by _____________________________________________ on the ________ day of ___________________________, 20 ______, in the original principal amount of $_____________________, with interest thereon at the rate of ______________________ (_______%) percent per annum, and payable as to principal and interest in monthly nstallments of $_________________. Said Mortgage (is) (is not) assumable.
3. Mortgage Loan Number _____________________________________,
in favor of: _____________________________________________, whose address is __________________________________________, executed by _____________________________________________ on the ________ day of ___________________________, 20 _______, in the original principal amount of $_____________________, with interest thereon at the rate of _______________________ (_______%) percent per annum, and payable as to principal
and interest in monthly installments of $__________________. Said Mortgage (is) (is not) assumable.
4. There are no other liens or encumbrances against the
Property, except as are hereafter described: ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ ___________________________________________________________.
EXHIBIT "C"
Price and Terms Acceptable to Owner
l. The Owner will accept a gross sales price for the Property
in the amount of $ _____________.
2. The Owner (will) (will not) assist in financing the purchase
of the Property by taking a Purchase Money Note and
Mortgage, in and amount and upon the terms set out
hereinafter, or in an amount and upon such terms as are hereafter agreed to by the Owner, as a portion of the Sales Price:
3. Additional terms of sale, if any, required by Owner:
.