No. 2416 approving and accepting a counteroffer for the acquisition of property in the South Bend Central Development Area

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DISCLOSURE REGARDING REAL ESTATE AGENCY RELATIONSHIP ROBERT BRADLEY ASSOCIATES, LLC D/B/A CB RICHARD ELLIS ~ BRADLEY Public law requn~es real estate licensees who are acting as agents of sellers (landlords) or buyers (tenants) of real property to advise the parties with whom they work of the policy and nature of their company with respect to agency relationships and to disclose to the parties all types of agency relationships available and the licensee's duties that each agency relationship creates, prior to the disclostue by the party to the licensee of any confidential infornation. Before you disclose confidential information to a real estate licensee regarding a real estate transaction, you should understand what type of agency relationship you have with that licensee. We believe that it is in the best interests of the seller/landlord to effectively selUlease the property and we therefore will cooperate with seller's/landlord's subagents (cooperating real estate brokers) and buyer's/tenant's agents (tenant representatives) to share comnussions in connection with selling/leasing the seller's/landlord's property. We will advise all cooperating agents who elect subagency status not to make any statements or representations about the property, the sellers/landlord's motivation or intentions to buyers/tenants that are not contained in our company fact sheets, flyers or in a written directive fi~om our office. Landlord's Agents/Exclusive Landlord's Agency/Seller's Agents A Seller's (landlord's) agent, under a listing agreement with the landlord, acts solely on behalf of the seller (landlord). A seller/landlord can authorize aseller/landlord's agent to work with subagents, buyer's agents and/or h~ansaction coordinators. A subagent is one who has agreed to work with the listing agent, and who, like the listing agent, acts solely on behalf of the sellers landlord's agents and subagents will disclose to the seller/landlord known information about the potential buyer/tenant which may be used to the benefit of the seller/landlord- A seller's/landlord's agent may not disclose that aseller/landlord will accept less than the listed sales price or lease rate for the ~operty or other contract concessions or «~hat motivates the seller/landlord to sell lease the property. Tenant's Agents/Exclusive Tenant's Agency/Buyer's Agents A buyer's/tenant's agent (tenant representative), render a buyer's%tenant's agency agreement with the buyer/tenant acts solely ou behalf of the buyer/tenant. Buyer's/tenant's agents and subagents will disclose to the buyer/tenant known information about the seller/landlord which maybe used to benefit the buyer/tenant. Limited Agents/Buyer's/Tenant's or Seller's/Landlord's Agency A real estate licensee can be the agent of both the seller/landlord and the buyer/tenant in a transaction, but only with the knowledge and informed consent, in writing, of both parties. In such a limited agency situation, the licensee will not be able to disclose all known information to either the seller/landlord or the buyer/tenant. The obligations of a limited agent are subject to any specific provisions set forth in any agreement between the limited agent, the seller/landlord and the buyer/tenant. Company Policy/Licensee Disclosru~e Robert Bradley Associates, LLC d/b/a CB Richard Ellis South Bend, brokers and salespersons are obligated to perforn7 under the following guidelines with respect to principals and customers. The seller's/landlord's agent owes the following affirmative obligations: To the principal: a. A fiduciary duty of utmost care, integrity, honesty and loyalty, obedience and confidentiality in dealings with the landlord.