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at closing with a Well Disclosure Certificate or certification of no known <br /> wells. <br /> C. Promptly notify Broker of any notices pertaining to the Property which are <br /> hereafter received during the term of this Agreement. <br /> NOTICE: THE COMPENSATION RATE FOR THE SALE, LEASE, RENTAL <br /> OR MANAGEMENT OF REAL PROPERTY SHALL BE DETERMINED <br /> BETWEEN EACH INDIVIDUAL BROKER AND ITS CLIENT. <br /> 6. BROKERAGE FEE: Seller agrees to pay Listing Broker a brokerage fee of <br /> Seven Percent(7%), of the gross sale price for which the Property is sold or <br /> exchanged. Commission shall be reduced to Five Percent(5%)if there is no Co- <br /> Broker. Broker shall have earned a commission upon the occurrence of any of the <br /> following conditions: <br /> A. The sale,contract for sale,exchange, or conveyance of the Property during <br /> the period of this Agreement by Broker or any other person, including,but <br /> not limited to Seller,or any other agent or broker not a party to this <br /> Agreement, in accordance with the price,terms, or exchange as set forth <br /> herein or as otherwise consented to by Seller. <br /> B. If a Buyer is procured,whether by Broker, Seller, or any one else,who is <br /> ready,willing, and able to purchase the Property at the price and terms set <br /> forth above and Seller refuses to sell. <br /> C. If Seller agrees to sell the Property before this contract expires, the Seller <br /> refuses to close the sale. <br /> D. Seller removes Property from the market before expiration of this Listing <br /> Agreement. <br /> E. If Seller grants an option to purchase the Property, Seller shall pay <br /> Brokers a sales commission in the percentage provided herein based on <br /> the price paid for the option and for any extensions thereof. This <br /> commission shall be paid upon receipt by Seller of any such payments. In <br /> the event such option is exercised,whether during the terms of this <br /> Agreement, or within(12)months thereafter, Seller shall also pay Broker <br /> a sales commission on the gross sales price of the Property in accordance <br /> with the provisions herein. Notwithstanding the foregoing,to the extent <br /> that all or part of the price paid for the option or any extension thereof is <br /> applied to the sales price of the Property,then any commission previously <br /> paid by Seller to Broker on account of such option payments shall be <br /> credited against the commission payable to Broker on account of the <br /> exercise of the option. <br /> F. Seller contributes or conveys the Property or any interest therein to a <br /> partnership,joint venture or other business entity during the term of this <br /> 2 <br />