Exclusive Tenant Listing Contract {ETC59}

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission. (ETC59-8-13) (Mandatory 1-14) THIS IS A BINDING CONTRACT. THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. Compensation charged by brokerage firms is not set by law. Such charges are established by each real estate brokerage firm. DIFFERENT BROKERAGE RELATIONSHIPS ARE AVAILABLE WHICH INCLUDE LANDLORD AGENCY, TENANT AGENCY, SELLER AGENCY, BUYER AGENCY OR TRANSACTION-BROKERAGE. EXCLUSIVE TENANT LISTING CONTRACT TENANT AGENCY TRANSACTION-BROKERAGE Date: 1. AGREEMENT. Tenant and Brokerage Firm enter into this exclusive, irrevocable contract (Tenant Listing Contract) and agree to its provisions. Broker, on behalf of Brokerage Firm, agrees to provide brokerage services to Tenant. Brokerage Firm will receive compensation as set forth in this Tenant Listing Contract. BROKER AND BROKERAGE FIRM. 2.1. Multiple-Person Firm. If this box is checked, the individual designated by Brokerage Firm to serve as the broker of Tenant and to perform the services for Tenant required by this Tenant Listing Contract is called Broker. If more than one individual is so designated, then references in this Tenant Listing Contract to Broker includes all persons so designated, including substitute or additional brokers. The brokerage relationship exists only with Broker and does not extend to the employing broker, Brokerage Firm or to any other brokers employed or engaged by Brokerage Firm who are not so designated. 2.2. One-Person Firm. If this box is checked, Broker is a real estate brokerage firm with only one licensed natural person. References in this Tenant Listing Contract to Broker or Brokerage Firm mean both the licensed natural person and brokerage firm, who serve as the broker of Tenant and perform the services for Tenant required by this Tenant Listing Contract. 3. DEFINED TERMS. 2. 3.1. Tenant: and any other person or entity on whose behalf the named party acts, directly or indirectly, to Lease the Premises. 3.2. 3.3. Brokerage Firm: Broker: 3.4. Premises. Premises means real estate which substantially meets the following requirements or similar real estate acceptable to Tenant: Lease; Purchase. 3.5.1. Lease of the Premises or Lease means any agreement between a landlord and the Tenant to create a tenancy or leasehold interest in the Premises. 3.5.2. If this box is checked, Tenant authorizes Broker to negotiate a purchase of the Premises. Purchase of the Premises or Purchase means the acquisition of any interest in the Premises or the creation of the right to acquire any interest in the Premises, including a contract or lease. It also includes an agreement to acquire any ownership interest in an entity that owns the Premises. 3.6. Listing Period. The Listing Period of this Tenant Listing Contract begins on_________________, and continues through the earlier of (1) completion of the Lease of the Premises or Purchase of the Premises or (2)__________________, and any written extensions (Listing Period). Broker will continue to assist in the completion of any Lease or Purchase for which compensation is payable to Brokerage Firm under § 7 of this Tenant Listing Contract. 3.7. Applicability of Terms. A check or similar mark in a box means that such provision is applicable. The abbreviation "N/A" or the word "Deleted" means not applicable. The abbreviation "MEC" (mutual execution of this contract) means the date upon which both parties have signed this Tenant Listing Contract. For purposes of this agreement, "landlord" includes sublandlord and "tenant" includes subtenant. 3.5. ETC59-8-13. EXCLUSIVE TENANT LISTING CONTRACT Page 1 of 6 American LegalNet, Inc. www.FormsWorkFlow.com 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 Day; Computation of Period of Days, Deadline. 3.8.1. Day. As used in this Tenant Listing Contract, the term "day" means the entire day ending at 11:59 p.m., United States Mountain Time (Standard or Daylight Savings as applicable). 3.8.2. Computation of Period of Days, Deadline. In computing a period of days, when the ending date is not specified, the first day is excluded and the last day is included, e.g., three days after MEC. If any deadline falls on a Saturday, Sunday or federal or Colorado state holiday (Holiday), such deadline Will Will Not be extended to the next day that is not a Saturday, Sunday or Holiday. Should neither box be checked, the deadline will not be extended. BROKERAGE RELATIONSHIP. 4.1. If the Tenant Agency box at the top of page 1 is checked, Broker represents Tenant as Tenant's limited agent (Tenant's Agent). If the Transaction-Brokerage box at the top of page 1 is checked, Broker acts as a Transaction-Broker. 4.2. In-Company Transaction ­ Different Brokers. When the landlord and Tenant in a transaction are working with different brokers, those brokers continue to conduct themselves consistent with the brokerage relationships they have established. Tenant acknowledges that Brokerage Firm is allowed to offer and pay compensation to brokers within Brokerage Firm working with a landlord. 4.3. In-Company Transaction ­ One Broker. If the landlord and Tenant are both working with the same broker, Broker will function as: 4.3.1. Tenant's Agent. If the Tenant Agency box at the top of page 1 is checked, the parties agree the following applies: 4.3.1.1. Tenant Agency Only. Unless the box in § 4.3.1.2 (Tenant Agency Unless Brokerage Relationship with Both) is checked, Broker represents Tenant as Tenant's Agent and must treat the landlord as a customer. A customer is a party to a transaction with whom Broker has no brokerage relationship. Broker must disclose to such customer Broker's relationship with Tenant. 4.3.1.2. Tenant Agency Unless Brokerage Relationship with Both. If this box is checked, Broker represents Tenant as Tenant's Agent and must treat the landlord as a customer, unless Broker currently has or enters into an agency or Transaction-Brokerage relationship with the landlord, in which case Broker must act as a Transaction-Broker. 4.3.2. Transaction-Broker. If the Transaction-Brokerage box a