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51 A. EXCLUSIVE LISTING. The parties understand and agree that this is an exclusive right to sell, option, exchange or
<br />52 lease listing, and Broker shall be entitled to the commission hereinafter established which shall be payable in U.S.
<br />53 Dollars upon the occurrence of any of the following events:
<br />54 1. at the time the Property is sold, optioned, exchanged or leased by any person, including the Seller, to
<br />55 any person during the term of this contract or any renewal or extension thereof,
<br />56 2. at the time Seller, Broker, or any other real estate licensee secures a buyer or lessee ready, willing and
<br />57 able to purchase, option, exchange or lease the Property for such price and terms as specified, or such
<br />58 other price or terms as Seller may accept,
<br />59 3. at the time an agreement is entered into sell, exchange, option or lease during the term of this contract
<br />60 or any renewal or extension thereof, and ultimately completed after the termination of this contract,
<br />61 4. the Property is sold, optioned, leased, or exchanged by Seller or any person within days
<br />62 after termination of this Listing Contract to any person procured in whole or in part by the efforts of
<br />63 Broker, any cooperating broker, or Seller, provided, however, this extension clause shall not apply if
<br />64 this Exclusive Listing Contract terminates and the Property is listed exclusively with another licensed
<br />65 broker, or
<br />66 5. at the time of default by Seller to any valid, fully executed, written agreement to sell, option, exchange, or
<br />67 lease the Property.
<br />68
<br />69 Any commission required to be paid under items 1, 3. and 4. above shall be due and payable at the closing of
<br />70 the transaction when title to or any interest in the Property is transferred to a buyer or lessee. Any commission
<br />71 required to be paid under items 2. and 5. above shall be due and payable upon demand by Broker. In the event that
<br />72 commission is not paid when due, then Broker shall be entitled to interest rate of ----% per annum until commission
<br />75 is paid.
<br />76
<br />77 If the Seller and a Buyer sign a Purchase Agreement, Option to Purchase Real Estate, Lease or the closing of the
<br />78 sale of the Property will not take place until after the term of this contract, then this contract shall automatically be
<br />79 extended to coincide with the closing date or term of the lease.
<br />80
<br />81 B. BROKER'S COMMISSION. The broker's commission charged by the listing Broker for services rendered, with respect
<br />82 to any listing is solely a matter of negotiation between Broker and Seller and is not set by law, fixed, controlled,
<br />83 suggested, recommended or maintained by the Indiana Association of REALTORS®, Inc., the local
<br />84 Board/Association of REALTORS®, the listing service (if applicable) or any person not a party to the contract.
<br />85
<br />86 C. LISTING BROKER COMPENSATION. Seller shall pay in cash in U.S. Dollars to Listing Broker Company for
<br />87 services performed by Listing Broker a commission as follows:
<br />88 a. --------% of the selling/exchange price or option selling price, but not less than S U.S. Dollars.
<br />89 b. In the event of a purchase option, the Seller agrees to compensate Broker ----------% of
<br />90 the consideration paid for an Option to Purchase.
<br />91 c. In the event of a lease, the Seller agrees to compensate Broker % of all amounts to be paid
<br />92 by a lessee to Seller over the term of the lease.
<br />93 d. It is understood by Seller the amount above DOES NOT include any compensation fora Buyer's Broker.
<br />94
<br />95 Seller understands that a Buyer may include in the terms of any Purchase Agreement a request that Seller agree
<br />96 to pay compensation to a Buyer Broker, or to reimburse the Buyer to allow the Buyer to do so.
<br />97
<br />98 D. SELLER CONCESSIONS. Seller['is ®is not offering seller concessions: Seller ['does ® does not
<br />99 authorize Broker to advertise that Seller may be willing to consider offering seller concessions, payable to or on
<br />100 behalf of a Buyer at closing.
<br />101
<br />102 E. COMMISSION; ATTORNEY FEES. For purposes of this contract, the parties understand and agree that
<br />103 Broker's commission is deemed to be a share of the purchase money received by Seller. If any action is filed in
<br />104 relation to this Listing Contract, the unsuccessful party shall pay to the successful party a reasonable sum for the
<br />105 successful party's attorneys fees and court costs.
<br />414 North William Street, South Bend, IN 46601
<br />(Property Address)
<br />Page 2 of 6 (Listing Agreement)
<br />COPYRIGHT IAR 2025
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