Compensation Agreement Between Broker & OwnerStep 1 of 812%1. PARTIESOwner:Name:(Required) First Last Address:(Required) Street Address Address Line 2 City AlabamaAlaskaAmerican SamoaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaGuamHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaNorthern Mariana IslandsOhioOklahomaOregonPennsylvaniaPuerto RicoRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahU.S. Virgin IslandsVermontVirginiaWashingtonWest VirginiaWisconsinWyomingArmed Forces AmericasArmed Forces EuropeArmed Forces Pacific State ZIP Code Phone(Required)Email/Fax(Required)Broker:Name:(Required) First Last Address:(Required) Street Address Address Line 2 City AlabamaAlaskaAmerican SamoaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaGuamHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaNorthern Mariana IslandsOhioOklahomaOregonPennsylvaniaPuerto RicoRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahU.S. Virgin IslandsVermontVirginiaWashingtonWest VirginiaWisconsinWyomingArmed Forces AmericasArmed Forces EuropeArmed Forces Pacific State ZIP Code Phone(Required)Email/Fax(Required)License No.(Required)2. PROPERTY:“Property” means the following real property in Texas, together with all its improvements and fixtures:Address:(Required) Street Address Address Line 2 City AlabamaAlaskaAmerican SamoaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaGuamHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaNorthern Mariana IslandsOhioOklahomaOregonPennsylvaniaPuerto RicoRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahU.S. Virgin IslandsVermontVirginiaWashingtonWest VirginiaWisconsinWyomingArmed Forces AmericasArmed Forces EuropeArmed Forces Pacific State ZIP Code Legal Description (Identify exhibit if described on attachment):(Required)3. ASKING PRICE:Owner is presently asking:A. $______ to sell the Property(Required)B. $______ to lease the Property.(Required)4. REGISTRATION:Broker registers _______________ (Prospect) with Owner:(Required)5. TERMS:This Agreement begins on(Required) and ends at 11:59 pm on(Required) 6. BROKER'S FEE:Owner is not obligated to pay Broker a fee until such time as Broker’s fee is Earned and Payable. Broker’s fees are Earned when Owner enters into a binding agreement to sell or lease all or part of the Property at any price to Prospect or if Owner breaches this Agreement. Broker’s fees are Payable in the amounts stated below at the specified times.A. Sales:(Required)If Owner agrees to sell all or a part of the Property to Prospect at any price during the Term, Owner will pay Broker a fee equal to: % of the sales price $___________%(Required)$_______(Required)B. Leases 1) Primary Lease:(a) If Owner agrees to lease all or part of the Property to Prospect, on any terms, during the Term, Owner will pay Broker a fee equal to:(Required) ___% of one full month’s rent Prospect is obligated to pay under the lease ___% of all rents Prospect is obligated to pay under the primary term of the lease $___________%(Required)$__________(Required)(b) The fee is Payable during the Term or after it ends in accordance with the following schedule:(Required) In one payment upon In two payments as follows: one-half of the fee at the time the lease is executed and the remainder on the date the lease commences. $________In one payment upon date(Required) $________(Required)(2) Renewals: If Prospect leases all or part of the Property during the Term and subsequently, either during the Term or after it ends, extends, renews, or expands the lease, (including new leases for more, less, or different space in the same building or complex), Owner will pay Broker, at the time the extension, renewal, or expansion commences, a fee equal to:Renewals:(Required) ___% of one full month’s rent Prospect is obligated to pay under the lease ___% of all rents to be paid for the term of the extension, renewal, or expansion $___________%(Required)$_________(Required)(3) Subsequent Sale to a Tenant: If Prospect leases all or part of the Property during the Term and subsequently, either during the Term or after it ends, agrees to buy all or part of the Property within the term of the lease or within 180 days after the date the lease ends, Owner will pay Broker, at the closing of the sale, a fee equal to:Subsequent Sale to a Tenant:(Required) ___% of the gross sales price $___________%(Required)$_________(Required)7. BROKER'S REPRESENTATION:A. Owner acknowledges receipt of the attached Information About Brokerage Services which is incorporated into this Agreement for all purposes. During negotiations for the sale or lease of the Property, Broker:(Required) will represent Owner only will represent Prospect only will act as an intermediary between Owner and Prospect8. ADDENDA:Addenda and other related documents which are part of this Agreement are Information About Brokerage Services and(Required)
