HomeMy WebLinkAbout10-24-2011 ITEM III-E Resolution No. 4766 No. 6 doc6. COMMISSION. Firm shall be entitled to a commission if: (a) Firm leases or procures a purchaser or
lessee on the terms of this Agreement, or on other terms acceptable to Owner; (b) Owner leases or sells
the Property through any other real estate firm during the term of this Agreement; (c) Owner leases or
sells the Property within six months after the expiration or sooner termination of this Agreement to a
person or entity that submitted an offer, Letter of Intent to purchase or lease, or has expressed interest to
purchase or lease the Property during the term of this Agreement or that appears on any registration list
provided by Firm pursuant to this Agreement or an "Affiliate" of such a person or entity that submitted an
offer or that appears on the registration list; (d) the Property is made unleasable by an otherwise
acceptable tenant/lessee due to the Owner's voluntary act; or (e) Owner cancels this Agreement, or
otherwise prevents Firm from leasing the Property after the Firm has produced an acceptable
tenant/lessee. The commission for any completed transaction shall be calculated as follows: Six Percent
(6.0%) of all gross lease revenues throught the term of the first twenty (20) years of the lease. If a sale,
then six percent (6.0%) of the gross sales price, with no offset or deduction whatsoever.The Firm's
compensation will in no event be less than Six Percent (6.0%) for any transaction, including a long term
land lease, contemplated
in this Agency Agreement. Payment of lease commissions shall be paid one half (1/2) upon lease signing,
and one half (1/2) upon tenant taking possession of the Leased Premesis. Sales commissions will be paid
in full at closing with no offset or deduction whatsoever. Firm shall submit any registration list to Owner
within 15 days after the expiration or sooner termination of this Agreement and shall only include on the
registration list persons or entities to whose attention the Property was brought through the signs,
advertising or other action of Firm, or who received information secured directly or indirectly from or
through Firm during the term of this Agreement. Owner shall provide the registration list to any other
brokers that assist the Owner with this Property. "Affiliate" means, with respect to any person or entity that
submitted an offer during the term of this Agreement or that appears on the registration list, a person or
entity which has more than a 10% ownership or voting interest in such an entity or any entity in which
more than 10% of the ownership or voting interests are owned or controlled by such a person or entity.