Exclusive Right of Sale Listing Agreement

Exclusive Right of Sale Listing Agreement This Exclusive Right of Sale Listing Agreement ("Aareement") is between 2' r and Lawrence A. Moens Associates, Inc. ("Seller) ("Broker). 4 1. Authority to Sell Property: Seller gives Broker the EXCLUSIVE RIGHT TO SELL the real and personal properly 5 (collectively "Property") described below, at the price and terms described below, beginning W February 10, 2015 and terminating at 11:59 p.m. on Auqust 10, 2015 ("Termination Date"). Upon 7 full execution of a contract for sale and purchase of the Property, all rights and obligations of this Agreement will 8 automatically extend through the date of the actual closing of the sales contract. Seller and Broker acknowledge 9 that this Agreement does not guarantee a sale. This Property will be offered to any person without regard to race, to color, religion, sex, handicap, familial status, national origin, or any other factor protected by federal, state, or local II law. Seller certifies and represents that she/he/it is legally entitled to convey the Property and all improvements. 12 2. Description of Propiiiii 13' (a) Street Address: 14 .15' Legal Description: 16' O See Attachment 17' (b)Personal Property, including appliances: O See Attachment to (c)Occupancy: 20' Property o is fig is not currently occupied by a tenant. If occupied, the lease term expires 21 3. Price and Terms: The property is offered for sale on the following terms or on other terms acceptable to Seller: 22' (a) Price: $ 7 , 400, 0 00 . 00 23' (b) Financing Terms: 50 Cash O Conventional O VA O FHA O Other (specify) 24' O Seller Financing: Seller will hold a purchase money mortgage in the amount of $ 25' with the following terms: 26' O Assumption of Existing Mortgage: Buyer may assume existing mortgage for $ plus 27' an assumption fee of $ . The mortgage is for a term of years beginning in 28' at an interest rate of % O fixed O variable (describe) . 29" Lender approval of assumption O is required O is not required O unknown. Notice to Seller: (1) You may 30 remain liable for an assumed mortgage for a number of years after the Property is sold. Check with your 31 lender to determine the extent of your liability. Seller will ensure that all mortgage payments and required 32 escrow deposits are current at the time of closing and will convey the escrow deposit to the buyer at closing. 33 (2) Extensive regulations affect Seller financed transactions. It is beyond the scope of a real estate licensee's 34 authority to determine whether the terms of your Seller financing agreement comply with all applicable laws or 35 whether you must be registered and/or licensed as a loan originator before offering Seller financing. You are 36 advised to consult with a legal or mortgage professional to make this determination. 37' (c) Seller Expenses: Seller will pay mortgage discount or other closing costs not to exceed % of the 38 purchase price and any other expenses Seller agrees to pay in connection with a transaction. 39 4. Broker Obligations: Broker agrees to make diligent and continued efforts to sell the Property until a sales 40 contract is pending on the Properly. 41 5. Multiple Listing Service: Placing the Property in a multiple listing service (the "MLS") is beneficial to Seller 42 because the Property will be exposed to a largo number of potential buyers. As a MLS participant, Broker is 43 obligated to timely deliver this listing to the MLS. This listing will be promptly published in the MLS unless Seller 44 directs Broker otherwise in writing. Seller authorizes Broker to report to the MLS this listing information and price, 45 terms, and financing information on any resulting sale for use by authorized Board / Association members and 46 MLS participants and subscribers unless Seller directs Broker otherwise in writing. Seller and Broker/Sales Associate f ) ( ) at nowiedge receipt of a copy of this page, which is Page 1 el 4. ERS•1 03/14 O2014 Florida Association of Realtors® Lawrence A. Mans Associat Inc. 245 Sunrise Avenue Palm Bea FL 33480 Phone: 124 Parc Monceau EFTA01079116 47 6. Broker Authority: Seller authorizes Broker to: 48 (a) Advertise the Property as Broker deems advisable including advertising the Property on the Internet unless 49 limited in (6)(a)(i) or (6)(a)(ii) below. 50 (Seller opt-out) (Check one if applicable) sr (I) 0 Display the Property on the Internet except the street address. 52' (100 Seller does not authorize Broker to display the Property on the Internet. 53 Seller understands and acknowledges that if Seller selects option (ii), consumers who search for listings 54 on the Internet will not see information about the Property in response to their search. 55' Initials of Seller 56 (b) Place appropriate transaction signs on the Property, including 'For Sale" signs and "Sold" signs (once Seller 57 signs a sales contract) and use Seller's name in connection with marketing or advertising the Property. 58 (c) Obtain information relating to the present mortgage(s) on the Property. 59 (d) Provide objective comparative market analysis information to potential buyers. 60' (e) (Check if applicable) 0 Itlee-a-leelt-bem-eysteca--88--eliew--aliff--eeeese-t4e--Pfetereft eekr-bem-elees-net 61 easere-the-Preper40-seenfity; Seller is advised to secure or remove valuables. Seller agrees that the-leek 62 bex-ie-feeerellefas-benetit-and releases Broker, persons working through Broker and Broker's local Realtor 63 Board / Association from all liability and responsibility in connection with any damage or loss that occurs. 64' 0 Withhold verbal offers. 0 Withhold all offers once Seller accepts a sales contract for the Property. 65 (f) Act as a transaction broker. 66 (g)Virtual Office Websites: Some real estate brokerages offer real estate brokerage services online. These 67 websites are referred to as Virtual Office Websites ('VOWs"). An automated estimate of market value or 68 reviews and comments about a property may be displayed in conjunction with a property on some VOWs. 69 Anyone who registers on a VOW may gain access to such automated valuations or comments and reviews 70 about any property displayed on a VOW. Unless limited below, a VOW may display automated valuations or 71 comments and reviews about this Property. 72' Ix] Seller does not authorize an automated estimate of the market value of the listing (or hyperlink to such 73 estimate) to be displayed in immediate conjunction with the listing of this Property. 74' MI Seller does not authorize third parties to write comments or reviews about the listing of the Property (or 75 display a hyperlink to such comments or reviews) in immediate conjunction with the listing of this Property. 76 7. Seller Obligations: In consideration of Broker's obligations, Seller agrees to: 77 (a) Cooperate with Broker in carrying out the purpose of this Agreement, including referring immediately to 78 Broker all inquiries regarding the Property's transfer, whether by purchase or any other means of transfer. 79 (b) Provide Broker with keys to the Property and make the Property available for Broker to show during 80 reasonable times. 81 (c) Inform Broker before to leasing, mortgaging or otherwise encumbering the Property. 82 (d)Indemnify Broker and hold Broker harmless from losses, damages, costs and expenses of any nature, 83 including attorney's fees, and from liability to any person, that Broker incurs because of (1) Seller's 84 negligence, representations, misrepresentations, actions or inactions; (2) the use of a lock box; (3) the 85 existence of undisclosed material facts about the Property; or (4) a court or arbitration decision that a broker 86 who was not compensated in connection with a transaction is entitled to compensation from Broker. This 87 clause will survive Broker's performance and the transfer of title. 88 (e)To perform any act reasonably necessary to comply with FIRPTA (Section 1445 of the Internal Revenue Code). 89 (f) Make all legally required disclosures, including all facts that materially affect the Property's value and are not 90 readily observable or known by the buyer. Seller certifies and represents that Seller knows of no such 91 material facts (local government building code violations, unobservable defects, etc.) other than the following: 92' 93 Seller will immediately inform Broker of any material facts that arise after signing this Agreement. 94 (g)Consult appropriate professionals for related legal, tax, property condition, environmental, foreign reporting 95 requirements, and other specialized advice. 96 8. Compensation: Seller will compensate Broker as specified below for procuring a buyer who is ready, willing, 97 and able to purchase the Property or any interest in the Property on the terms of this Agreement or on any other 98 terms acceptable to Seller. Seller will pay Broker as follows (plus applicable sales lax): 99' (a) 5%* % of the total purchase price plus $ OR $ , no 100 later than the date of closing specified in the sales contract. However, closing is net a prerequisite for Broker's 101 fee being earned. 102' (b) 58* ($ or %) of the consideration paid for an option, at the time an option is created. If the option is 103 exercised, Seller will pay Broker the Paragraph 8(a) fee, less the amount Broker received under this 104 subparagraph. Se and Broker/Sales Associate ( ) ( ) acknowledge recoiplol a copy of this page, which is Page 2 of 4. ERS-1 . 03/14 fl9 2014 Florida Association or Realtors. Nada .•ail zWorineby ziplogl 124 Parc MOIICC3U EFTA01079117 105' (e) ($ or %) of gross lease value as a leasing fee, on the date Seller enters into a lease or 106 agreement to lease, whichever is earlier. This fee is not due if the Property is or becomes the subject of a 107 contract granting an exclusive right to lease the Property. 108 (d) Broker's fee is due in the following circumstances: (1) If any interest in the Property is transferred, whether by 109 sale, lease, exchange, governmental action, bankruptcy, or any other means of transfer, regardless of whether HO the buyer is secured by Seller, Broker, or any other person. (2) If Seller refuses or fails to sign an offer at the iii price and terms stated in this Agreement, defaults on an executed sales contract, or agrees with a buyer to 112' cancel an executed sales contract. (3) II, within 120 days after Termination Date ("Protection Period"), 113 Seller transfers or contracts to transfer the Property or any interest in the Property to any prospects with whom 114 Seller, Broker, or any real estate licensee communicated regarding the Property before Termination Date. 115 However, no fee will be due Broker if the Property is relisted after Termination Date and sold through another 116 broker. 44-P fe)Retaleeel-Depeelkm-As-eeffeiciefetien-Sec-Bfeherze-sepoieesr litteker-ie-eMitied-te-feeeiwt 'K. ef•-ell 448 119 Paragraph-8(e) fee. 120 9. Cooperation with and Compensation to Other Brokers: Notice to Seller: The buyer's broker, even if 121 compensated by Seller or Broker, may represent the interests of the buyer. Broker's office policy is to cooperate 122 with all other brokers except when not in Seller's best interest and to offer compensation in the amount of 123' l 2.500 % of the purchase price or $ to a single agent for the buyer. on 2.500 % of the 124' purchase price or $ to a transaction broker for the buyer; and D % of the purchase 125' price or $ to a broker who has no brokerage relationship with the buyer. $26' O None of the above. (If this is checked, the Property cannot be placed in the MLS.) 127 Brokerage Relationship: Broker will act as a transaction broker. Broker will deal honestly and fairly; will account 128 10. for all funds; will use skill, care, and diligence in the transaction; will disclose all known facts that materially affect 129 the value of the residential property which are not readily observable to the buyer; will present all offers and 130 counteroffers in a timely manner unless directed otherwise in writing; and will have limited confidentiality with 131 Seller unless waived in writing. 132 11. Conditional Termination: At Seller's request, Broker may agree to conditionally terminate this Agreement. If 133 Broker agrees to conditional termination, Seller must sign a withdrawal agreement, reimburse Broker for all direct 134' expenses incurred in marketing the Property, and pay a cancellation fee of $ all ad costs plus 135 applicable sales tax. Broker may void the conditional termination, and Seller will pay the fee stated in Paragraph 136 8(a) less the cancellation fee if Seller transfers or contracts to transfer the Property or any interest in the Property 137 during the time period from the date of conditional termination to Termination Date and Protection Period, if 138 applicable. 139 12. Dispute Resolution: This Agreement will be construed under Florida law. All controversies, claims, and other 140 matters in question between the parties arising out of or relating to this Agreement or the breach thereof will be 141 settled by first attempting mediation under the rules of the American Mediation Association or other mediator 142 agreed upon by the parties. If litigation arises out of this Agreement, the prevailing party will be entitled to recover $43 reasonable attorney's fees and costs, unless the parties agree that disputes will be settled by arbitration as follows: $44' Arbitration: By initialing in the space provided, Seller ( ) ( ), Sales Associate ( ) and Broker ( ) 145 agree that disputes not resolved by mediation will be settled by neutral binding arbitration in the county in which 146 the Properly is located in accordance with the rules of the American Arbitration Association or other arbitrator 147 agreed upon by the Parties. Each party to any arbitration (or litigation to enforce the arbitration provision of this 148 Agreement or an arbitration award) will pay its own fees, costs, and expenses, including attorney's fees, and will 149 equally split the arbitrator's fees and administrative fees of arbitration. iso 13. Miscellaneous: This Agreement is binding on Seller's and Broker's heirs, personal representatives, 151 administrators, successors, and assigns. Broker may assign this Agreement to another listing office. This 152 Agreement is the entire agreement between Seller and Broker. No prior or present agreements or representations 153 will be binding on Seller or Broker unless included in this Agreement. Electronic signatures are acceptable and 154 will be binding. Signatures, initials, and modifications communicated by facsimile will be considered as originals. 155 The term 'buyer" as used in this Agreement includes buyers, tenants, exchangers, optionees, and other categories 156 of potential or actual transferees. Se and Broker/Sales Associate ( ) > acknowledge receipt of a copy of this page, which is Page 3 of 4. ERS-16th Rev. 03/14 O2014 Florida Association of Realtors® PIDIKA30 am. by *Ugh 11070 hIP0011 Mb Med. I mar. lAchlEtan 40025 124 Parc Monceau EFTA01079118 157' 14. Additional Terms: *In the event that Lawrence A. Moans Associates, Inc. should secure a 160 Buyer for the Property, solely and without the cooperation of another real estate 159 entity, then the commission shall be reduced to 4.5% of the total purchase price. 160 161 162 163 164 165 166 167 168 169 170' Seller's SignatureX Date: 124 Pare Monccau LLC in' Home Telephone: Work Telephone: Facsimile: 172' Address: 173' Email Address: 174' Sellers Signature: 175' Home Telephone: Work Telephone: Facsimile: tie' Address: 177' Email Address: 178' Authorized Sales Associate or Broker: Date: 17W Brokerage Firm Name: Lawrence A. Moens Associates, Inc. 180. Address: Date: 181' Telephone: Copy returned to Seller on by 0 email 0 facsimile 0 mail 0 personal delivery. The Florida Association of REALTORS® makes no representation as to the legal vahlty or adequacy of any provision cil this form in any spotlit transaction. This standardized lean should not be used in complex transactions or with extensive riders or additions. This form is avant* for use by the entire veal estate industry and is not intended to Identify the use as REALTORS. REALTORS Is a registered collective membership mark which may be used only by real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® and who subsea:* to its Code or Elh4s. The copyright laws of the United Slates (11 U.S. Code) forbid the unauthorized reproduction of this loan by any means Inducing lacelmle or computerized forms. Sell and Broker/Sales Associate ( ) ( ) acknowledge receipt of a copy of this page, which is Page 4 of 4. ERS I 03/14 2014 Florida Association of Realtors® 124 fare Monceau EFTA01079119