2015-08-12 CC Set Agenda w-Handouts

Home Browse Search

Agreement in lieu of sale of the Property during the term of this Agreement. G. Seller is a partnership or other business entity and an interest in the partnership or other business entity is transferred,whether by merger, outright purchase or otherwise in lieu of sale of the Property during the term of this Agreement.If within 180 days after the end of this Agreement, Seller sells or agrees to sell the Property to anyone who has made an affirmative showing of interesting the Property by responding to an advertisement or by contacting the Broker or salesperson involved or has been physically shown the Property by the Broker or salesperson. It is understood that Broker shall not seek to enforce collection of a commission under this Paragraph G,unless the name of the prospect is on a written list given to Seller within 72 hours after expiration of this Listing Agreement. As security for Broker's commission, Seller hereby grants to Broker a security interest in the proceeds from the sale of the Property described herein and any title company or other closer who conducts the closing on the sale or lease of the Property described herein is directed to disburse the Broker's commission provided hereunder to the Broker at the time of closing. 7. SIGN: Seller shall permit Broker to erect a marketing sign"For Sale" or other applicable signage related to the marketing of said property. Seller shall remove all other"For Sale"signs from the Property during the period of this Agreement. It is further agreed that Seller shall permit Broker to erect a"Sold"sign on the Property for a period of 30 days following the sale or exchange of the Property by Broker at Broker's option. 8. DEPOSIT: Broker is authorized to accept from a Buyer or its representative,a non-interest bearing deposit represented by check or certified funds,and to place said deposit in a federally insured banking or savings institution in Broker's escrow account. Broker shall have no responsibility in case of failure or suspension of said banking or savings institution. In an event of a dispute between Seller and Buyer, Seller understands and agrees that Broker cannot disburse the deposit without the mutual written consent of the Buyer and Seller. 9. CLOSING SERVICES: After a purchase agreement for the property is signed, arrangements must be made to close the transaction. Seller understands that Seller may arrange for a qualified closing agent or attorney to conduct the closing or Seller may ask Broker to arrange for the closing. Seller understands that Seller may be required to pay certain closing costs which may effectively reduce the proceeds from the sale. Seller has indicated his/her/its choice for closing services Seller wishes to have Broker arrange for closing services. (Seller) (Seller) Seller shall arrange for closing services. (Seller) (Seller) 3