2019-243-E Housing - Verbal Realty & Associates 509 Central Ave realty services

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DocuSign Envelope ID:3F2Al lF7-03CF-4959-B256-OF8B9C8B7E17 (c) Buyer's Role. Should Firm become a dual agent,Buyer understands and acknowledges that: (1) Buyer has the responsibility of making Buyer's own decisions as to what terms are to be included in any purchase and sale agreement with a seller client of Firm; (2) Buyer is fully aware of and understands the implications and consequences of Firm's dual agency role as expressed herein to provide balanced and fair representation of Buyer and seller and to encourage and effect communication between them rather than as an advocate or exclusive agent or representative; (3) Buyer has determined that the benefits of dual agency outweigh any disadvantages or adverse consequences; (4) Buyer may seek independent legal counsel to assist Buyer with the negotiation and preparation of a purchase and sale agreement or with any matter relating to the transaction which is the subject matter of a purchase and sale agreement. Should Firm become a dual agent, Buyer waives all claims, damages, losses, expenses or liabilities, other than for violations of the North Carolina Real Estate License Law and intentional wrongful acts, arising from Firm's role as a dual agent. Buyer shall have a duty to protect Buyer's own interests and should read any purchase and sale agreement carefully to ensure that it accurately sets forth the terms which Buyer wants included in said agreement. (d) Authorization(initial only ONE). Buyer authorizes the Firm to act as a dual agent, representing both the Buyer and the seller, subject to the terms and conditions set forth in this Paragraph 14. Buyer desires exclusive representation at all times during this agreement and does NOT authorize Firm to act in the capacity of dual agent.If Buyer does not authorize Firm to act as a dual agent, the remainder of this paragraph shall not apply. (e) Designated Agent Option(Initial only if applicable). Buyer hereby authorizes the Firm to designate an individual agent(s)to represent the Buyer, to the exclusion of any other individual agents associated with the Firm. The individual designated agent(s)shall represent only the interests of the Buyer to the extent permitted by law. NOTE: When dual agency arises, an individual agent shall not practice designated agency and shall remain a dual agent if the individual agent has actually received confidential information concerning a seller client of the Firm in connection with the transaction or if designated agency is otherwise prohibited by law. (f) Dual Agency Compensation. If the Firm acts as a dual agent (including designated agency), the total fee the Firm expects to receive for its services in representing Buyer and the seller shall be N/A (Insert dollar amount, percentage of purchase price, or other method of determining Firm's compensation for each type of property such as resale, new construction and/or land/lot the Buyer may purchase). THIS WILL IN NO WAY AFFECT OR MODIFY THE AMOUNT OF THE FEE SET FORTH IN PARAGRAPH 4 ABOVE THAT FIRM EXPECTS TO RECEIVE FOR ITS SERVICES IN REPRESENTING BUYER UNDER THIS AGREEMENT. In the event Buyer is interested in purchasing a property where the Firm's total fee is different from that described in this subparagraph (f), the Firm shall timely disclose the fee to Buyer and confirm it in writing before Buyer makes or accepts an offer to buy or sell any such property. 15.MEDIATION. If a dispute arises out of or related to this Agreement or the breach thereof, and if the dispute cannot be settled through negotiation, the parties agree first to try in good faith to settle the dispute by mediation before resorting to arbitration, litigation, or some other dispute resolution procedure. If the need for mediation arises, the parties will choose a mutually acceptable mediator and will share the cost of mediation equally. 16.ENTIRE AGREEMENT/CHANGES/TERMINATION. This Agreement constitutes the entire agreement between Buyer and Firm relating to the subject thereof, and any prior agreements pertaining thereto, whether oral or written, have been merged and integrated into this Agreement. This Agreement may be signed in multiple originals or counterparts, all of which together constitute one and the same instrument.No modification of any of the terms of this Agreement shall be valid,binding upon the parties,or entitled to enforcement unless such modification has first been reduced to writing and signed by both Buyer and Firm.Buyer acknowledges and understands that this Agreement constitutes a binding contract between Buyer and Firm. Although Buyer may at any time withdraw from the fiduciary relationship existing between Buyer and Firm, the contract created by this Agreement may not be terminated by Buyer or Firm prior to its Expiration Date without legally sufficient cause. Any such termination shall be by mutually-acceptable written agreement signed by both Buyer and Firm. vs Page 4 of 6 STANDARD FORM 201 Revised 7/2018 Buyer initials Individual agent initials ©7/2018 Produced with zipForm®by zipLogix 18070 Fifteen Mile Road,Fraser,Michigan 48026 www.zir)Lociix.com 509 Central