2024-279-E-AMS-Pickett Sprouse Commercial Real Estate-1616 Ferguson Rd

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Page 1 of 4 This form approved by: North Carolina Association of REALTORS®, Inc. Client Initials _______ _______ Firm Rep. Initials _______ STANDARD FORM 530 Revised 7/2022 © 7/2023 EXCLUSIVE BUYER/TENANT REPRESENTATION AGREEMENT The undersigned, ____________________________________________________________________________________ ("Client"), hereby employs ______________________________________________________________________________________ ("Firm"), as Exclusive Representative to secure for Client acceptable properties and assist in negotiating terms and conditions accepta ble to Client for the purchase or lease of such properties in accordance with the terms of this Agreement. 1. This Agreement shall commence this date and terminate at 11:59pm (based upon the time at the locale of the Firm’s office) on ___________________________. Client represents that, as of the commencement date of this Agreement, Client is not a party to a buyer/tenant representation agreement with any other person or firm. 2. General requirements and purposes of the properties and transactions sought will be outlined by specifications. In the e vent Client modifies these specifications, Client will notify Firm in writing of the new requirements and/or purposes. These requirements and purposes are informational only in nature and are not a condition of this Agreement. 3.Client understands that other prospective buyers or tenants represented by Firm may seek property, submit offers, and contract to purchase or lease property through Firm, including the same or similar property as Client seeks to purchase or lease. Client acknowledges, understands and consents to such representation of other prospec tive buyers or tenants by Firm. 4. The geographic scope of this Agreement contemplates any properties within: ___________________________________________ __________________________________________________________________________________________________________. 5. In consideration of this exclusive right to represent Client, Firm will pursue diligently the location of acceptable prop erties and transactions as specified by Client. Any purchase or lease of property by Client during the term of this exclus ive right will be subject to the terms of this Agreement. 6. In consideration of the services to be performed by Firm, Client agrees to compensate Firm for each property purchased or leased by payment of a fee as follows: Purchase: When a seller accepts an unconditional offer from Client or when all conditions have been met following a seller’s acceptance of a conditional offer from Client, then Client shall pay Firm a fee equal to ___________________________ percent (_______________________________________________________%) of the gross sales price of the property, or the sum of _______________________________________________________________ ($ ___________________), whichever is greater. Gross sales price includes any and all consideration received or receivable, in whatever form, by Seller including, but not limited to, the assumption or release of existing liabilities. Lease: If Client and a landlord directly or indirectly leases or agrees to the lease of a property, Client shall pay Firm ____________________ percent (___________%) of the total rent for the first________ months in which rent is to be paid, plus _________________ per cent (__________%) of the total rent for the remainder of the term; or $ ______________________________ (flat fee), whi chever is greater. Other: (Retainer Fee, Bonus, Incentives, etc.) Orange County Pickett Sprouse Commercial Real Estate 09/30/2024 Five miles of 1616 Ferguson Road, Chapel Hill, NC ten thousand 10,000 10,000 See Attached DocuSign Envelope ID: BA26D1D2-FE7B-4CE7-ADA9-EAB20084596E