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LISTING AGREEMENT RENEWAL AND/OR AMENDMENT

Real Estate Listing Broker Agreement

LISTING
AGREEMENT RENEWAL AND/OR AMENDMENT | Document Parties: INTERSTATE LAND INVESTORS | Grubb  Ellis /Bissell Patrick You are currently viewing:
This Real Estate Listing Broker Agreement involves

INTERSTATE LAND INVESTORS | Grubb Ellis /Bissell Patrick

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Title: LISTING AGREEMENT RENEWAL AND/OR AMENDMENT
Date: 4/9/2004

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Exhibit 10.1

Grubb & Ellis Bissell Patrick
15720 John J. Delaney Drive
Suite 500
Charlotte NC 28277
Phone: 704-248-2100, Fax: 704-248-2101

LISTING AGREEMENT RENEWAL AND/OR AMENDMENT

The LISTING AGREEMENT RENEWAL AND/OR AMENDMENT made this December 15, 2003 revising or amending that listing dated February 21, 2003 entered into by and between:

Interstate Land Investors II

(Seller/Landlord”) and

Grubb & Ellis/Bissell Patrick (“Listing Agency”).

for the Property known as:

York County Tax Parcel #’s 7160000147 and 7180000146

is hereby amended as follow: (Check ALL applicable revisions)

 

 

 

 

 

 

 

x

 

Renewed and extended until midnight, December 31, 2004

 

 

 

 

 

 

 

o

 

Price shall be changed from $ n/a to $ n/a

 

 

 

 

 

 

 

o

 

Other Revisions: n/a

All other terms and conditions shall remain the same.

Seller/Landlord and Listing Agency each hereby acknowledges receipt of a signed copy of this document.

THE NORTH CAROLINA ASSOCIATION of REALTORS®, INC. MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION.

 

 

 

LISTING AGENCY :

 

 Grubb & Ellis/Bissell Patrick

 

 


 

 

 

(Name of Firm)

 

 

 

 

 

 

 

 

 

 

By:

 

/s/ Bailey W. Patrick

 

(SEAL)

 

 

 

 


 

 

 

SELLER/LANDLORD :

 

 

 

 

 

 

 

 

 

Individual:

 

 

 

Business Entity:

 

 

 

 

 

 

 

 

 

 

 

 

 

(SEAL)

 

Interstate Land Investors II

 

 


 

 

 

 


 

 

 

 

 

 

 

(Name of Firm)

 

 

 

 

 

 

 

 

 

 

 

 

 

(SEAL)

 

By:

 

/s/ James A. Gray

 

(SEAL)


 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Title: Asset Manager

 

 

North Carolina Association of REALTORS®, Inc.
PREPARED BY AGENT: Bailey W. Patrick, President
Standard Form 575 Listing Agreement Renewal And/Or Amendment. North Carolina Association of REALTORS®
© 7/2002

 

 

 

 

 

Page 1 of 1

Agent      

 

Seller(s)/Landlord      

 


 

LISTING AGREEMENT OF PROPERTY FOR SALE

This Listing Agreement of Property for Sale is made this 21 st day of February, 2003,

 

 

 

 

 

by and between

 

Grubb & Ellis/Bissell Patrick

 

(“Listing Agency”),

 

 


 

 

 

 

 

(Name of Firm)

 

 

and Interstate Land Investors, II , (“Seller”)

In consideration of Listing Agency’s agreement to list the following described property, hereinafter known as “Property”, for sale and to use its efforts to find a Buyer, the undersigned Seller agrees with Listing Agency as follows: Ó

1. EXCLUSIVE RIGHT TO SELL: For a period extending until midnight on November 30 , 2003, Listing Agency shall have the exclusive right to Sell the Property as agent of Seller at the price and on the terms set forth below, or upon such other terms as may be agreed upon in writing by Seller with any Buyer.

2. BROKER, COOPERATION/AGENCY RELATIONSHIP: Listing Agency has advised Seller of Listing Agency’s general company policy regarding cooperating with Subagents, Buyer’s Agents or Dual Agents. Seller has received and read the “Working with Real Estate Agents” publication, and agrees to authorize the Listing Agency to compensate (subject to paragraphs 7.b.(i) and 7.b.(ii)) and cooperate with the following: (CHECK ALL APPLICABLE AGENCIES)

 

 

 

 

 

 

 

o

 

Subagents representing only the Seller,

 

 

 

 

 

 

 

x

 

Buyer Agents representing only the Buyer

 

 

 

 

 

 

 

x

 

Seller authorizes Listing Agency to act as a Dual Agent representing both the Seller and Buyer in the same transaction. (When Dual Agency occurs, a separate agreement will be executed.)

Listing Agency agrees to inquire of all agents at the time of initial contact as to their agency status. A written disclosure of agency shall be provided to Seller in connection with the presentation of any contract pursuant to this Listing Agreement. Ó

3.

 

PROPERTY: (Address) Goldhill Road at Interstate 77 in Fort Mill, South Carolina
(Legal Description/Description) York County Tax Parcel #’s 7180000147 and 7180000146

 

 

 


 

 

 

 

 

 

x See attached Exhibit A for legal description/description of premises.

 

 

 

4.

 

LISTING GUIDELINES:

 

 

 

 

 

 

Seller Price

 

 

 

Other Terms

 

 


 

 


 

Seller Financing Terms

 

Cash at Closing


 

 

$103,000 Per Acre for Tract 1A (17 Acres)


 

 

 

 

 

$32,500 Per Acre for Tract 1D (31.23 Acres)


 

 


 

 

 

 

 

 


 

 


 

Possession Delivered

 

at Closing

 

 

 

 


 

 


 

SIGNS: You x may o may not place a sign on the Property. Seller agrees to remove all other signs.

ADVERTISING: You x may o may not advertise the Property.

DATABASE LISTING: This listing x may be o may not be entered in available database listings.

MARKETING EXPENSE: In the event that the Property does not sell during the term of this Agreement, Seller shall nonetheless be obligated to reimburse Listing Agency for actual expenses incurred in marketing the Property up to the amount of $ -0- .

5.

 

SPECIAL PROVISIONS (an addendum if attached, is incorporated herein by reference):

 

 


 

          See Addendum


 

 


 

Page 1 of 4

 

 

 

 

 

 

 

North Carolina Association of REALTORS®, Inc.

 

 

 

 

 

STANDARD FORM 571

 

 

 

 

 

 

© 7/2002

Agent Initials       Sellers Initials              

 

   

 

 

 

 


 

6. COOPERATION WITH LISTING AGENCY:

a. EXCLUSIVE RIGHTS : Seller agrees to cooperate with Listing Agency (or agents acting for or through it) to facilitate the sale of the Property. The Property may: be shown only by appointment made by or through Listing Agency. Seller shall refer to Listing Agency all inquiries or offers it may receive regarding this Property. Seller agrees to cooperate with Listing Agency in bringing about a sale of the Property to furnish Listing Agency with a copy of any lease or master lease affecting the Property and to immediately refer to Listing Agency all inquiries by anyone interested in the Property. All negotiations shall be conducted through Listing Agency. Listing Agency shall be identified as the contact firm with all state and local economic development agencies being notified of the Property’s availability.

b. SERVICES : No management services, repair services, collection services, notices, legal services or tax services shall be implied as being provided by the Listing Agency by this agreement In the event that the Listing Agency does procure any of these services at the request of the Seller, it is understood and agreed that Listing Agency shall only be acting in the capacity of procurer for the Seller and shall accrue no liability or responsibility in connection with any services so obtained on behalf of Seller. This exclusion of liability and responsibility shall not apply in the event that Listing Agency directly contracts with Seller to provide any such service.

c. LATER SALE TO PROSPECT : If within 90 days after the expiration of the exclusive listing period Seller shall directly or indirectly sell or agree to sell the Property to a party to whom Listing Agency (or any other agent acting for or through Listing Agency) has communicated concerning the Property during this exclusive period, Seller shall pay Listing Agency the same commission to which it would have been entitled had the sale been made during the exclusive listing period; provided, that names of prospects are delivered or postmarked to the Seller within 30 days after the expiration of the exclusive listing period. In the event the subject Property is exclusively listed for sale with another agency after the expiration of this agreement and a registered prospect options or contracts to purchase the Property within 90 days of the expiration of this agreement, then the Seller shall pay to the Listing Agency 100% of the commission provided for in Paragraph 7 below. It is not Listing Agency’s intention to hereby obligate Seller to two commissions; Seller should insure that any prospects registered pursuant to this subparagraph are excluded from any subsequent listing agreement. The number of prospects Listing Agency may register upon expiration of the listing period is limited to (5) five.

7. COMMISSIONS: The amount, format or rate of real estate commissions is not fixed by law. Commissions are set by each broker individually and may be negotiable between principal and broker.

      a. Sales Commissions:

     (i) Listing Agency’s commission shall be calculated according to the schedule in Paragraph 7a.(ii). Commissions shall be paid in cash or by bank check. Gross sales price shall include any and all consideration received or receivable, in whatever form, including, but not limited to, the assumption or release of existing liabilities. The commission shall be paid upon delivery of the deed or other evidence of transfer of title or interest; provided, however, if the transaction involves an installment contract, then payment shall be made upon the signing of such installment contract. In the event


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