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N. AGENCY DISCLOSURES: Indiana/Michigan licensing law, and Broker's corporate policy (Exhibit A), require that the Seller
<br />clearly understand the specific agency responsibilities of the Broker and its Licensees in the contemplated transaction. Licensees
<br />are obligated to describe to the Seller the various agency relationships available, specifically identifying the Licensee's duties in
<br />each type of agency relationship.
<br />The following are the only types of agency relationships possible, along with the duties related thereto:
<br />1. Seller's Agents. A Seller's agent acts solely on behalf of the Seller and as the exclusive representative of, the Seller. A Seller's
<br />agent owes the Seller a duty of trust, loyalty_ confidentiality, accountability, and disclosure. Seller's agents may disclose to the
<br />Seller any and all known information about a potential Buyer which may be used to the benefit of the Seller. A Seller's agent
<br />may not disclose to a Buyer or a Buyer's agent that a Seller will accept less than the listed sales price or lease rate for the
<br />property, that the Seller will accept other contract concessions, or disclose what motivates file Seller/landlord to sell the property.
<br />A Seller's agent has no duty to the Buyer other than an obligation to deal honestly with the Buyer.
<br />2. Buyer's Agents. A Buyer's agent acts solely on behalf of the Buyer. Buyer's agents may disclose to the Buyer any and all
<br />]crown information about the Seller which may be used to benefit the Buyer. Seller should understand that a Buyer's agent has
<br />no duty to the Seller.
<br />3. Limited Agents. A real estate Licensee may be a limited agent, serving as an agent of both the Seller and the Buyer in a
<br />transaction. Limited agency most frequently arises when the listing agent or Broker's principal or managing broker is asked by a
<br />Buyer to show the Property. In such event, a limited agency relationship automatically arises, in which case both the Licensee
<br />and the principal/managing Broker have duties to both the Seller and the Buyer. In a limited agency relationship, the Licensee
<br />may not disclose the following without the informed consent, in writing, of both the Seller and the Buyer: (a) Any
<br />material or confidential information, except (i) adverse material facts or risks actually known by Licensee concerning the
<br />physical condition of the property which could not be discovered by a reasonable and timely inspection of the Property by the
<br />parties, or (ii) facts required by law to be disclosed; (b) That a Buyer would pay more than the offered price for the Property, or
<br />that a Seller would accept less than the listed price for the property; (c) Other terns which would create a contractual advantage
<br />of one party over another; and (d) What motivates a party to buy or sell the Property. In such a limited agency situation, it is
<br />understood that there will be no imputation of knowledge or inforniation between any party and the limited agent, or among
<br />licensees.
<br />Seller is advised that the Property may be sold with assistance of other licensees working as Buyer's agents (including licensees
<br />affiliated with Broker) and that our company policy is to cooperate with and compensate both affiliated and unaffiliated agents.
<br />Our affiliated licensees will disclose to Buyers orally and in writing, in a manner to be consistent with state laws, that they have
<br />a fiduciary responsibility to the Seller. We will advise all cooperating/unaffiliated agents not to make any statements or
<br />representations about the Property, the Seller, or the Seller's motivations/ intentions that are not contained in our company fact
<br />sheets, flyers, or in a written directive from our office.
<br />Seller's agent may show alterative properties not owned by the Seller to a prospective Buyer, may list competing properties for
<br />lease or sale without breaching any duty or obligation to the Seller, and may provide assistance to a Buyer with services in the
<br />ordinary course of a transaction, such as preparing offers to purchase, comm~unicating those offers to the Seller, arranging for
<br />attorneys, inspectrn•s, insurance agents, contractors and similar services. none of which would deemed to violate the terms of this
<br />Agreement with the Seller.
<br />By initialing below, Seller acknowledges the foregoing has been read and understood. Seller voluntarily gives informed consent
<br />to Limited Agency under the conditions set forth above. should it arise during the tern of this Listing Agreement.
<br />O. ADDITIONAL PROVISIONS: Seller and Broker acknowledge that:
<br />1. All persons signing below as Seller have read and understand this Contract and have received a copy of it.
<br />2. This Contract contains the entire a~~reement of the parties and cannot be changed except by their written consent.
<br />3. This Contract is binding upon the parties' heirs, administrators. executors, successors and assigns.
<br />4. Broker war•ants that Broker and Brokers agent hold a valid real estate license in the state in which the property is located.
<br />5. Broker may refer Seller to other professionals, service providers or product vendors, including lenders, loan brokers, title
<br />insurers, escrow companies, inspectors, surveyors, engineers, consultants, environmental inspectors and contractors. Broker
<br />has no responsibility for the perfornlance of any service provider. Seller is free to select providers other than those referred
<br />or recommended to Seller by Broker.
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