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Leasing Commission Agreement
1. Parties. This Agreement is made on [Date] by and between [Name] of [Address], hereinafter referred to as "Owner", and [Name] having principal place of business at [Address], hereinafter referred to as "Broker".
2. Representations. Broker is a real estate broker duly licensed in [State]. Owner is the owner of the Premises located at [Address], including the building and other improvements recently done to it.
3. Tenant Procured by Broker. Broker has procured [Name of tenant] (Tenant) as a party interested in leasing the following space at the Property:
[define exact address, e.g., Suite 1001, Apartment 36A].
If Owner and Tenant execute a lease for such property, then Broker shall be entitled to a leasing commission as provided for in this Agreement.
4. Entitlement to Commission. If Owner and Tenant do not execute a lease of the space identified in Paragraph 3 for any reason, including the fault of either party, then Broker shall be entitled to no commission or any other payment from Owner.
5. Calculation of Commission. Broker's leasing commission shall be ---------- percent (----------%) of the fixed rate payable by Tenant during the first full year the lease is in effect.
5. Calculation of Commission. Broker's commission shall be the following percentage of the base rent payable by Tenant under Tenant's lease with Owner:
First year or any fraction thereof----- percent (-----%)
Second year through [number] year----- percent (-----%)
No commission is payable with respect to any pass through of operating expenses including charges for electricity or real estate taxes [optional clause: or any rent escalation provisions] included in Tenant's lease.
6. Payment of Commission. The leasing commission payable to Broker under this Agreement shall be payable as follows: [time of payment, e.g., at the time of commencement of the term of the lease, or in annual installments payable at the end of each calendar year the lease is in effect].
7. Broker's Obligations. Broker agrees to treat all information received from Owner regarding the Property, including any lease executed with Tenant, as confidential. Such information shall not be disclosed to other prospective tenants or to their brokers. All plans, specifications, leases, and other documents regarding the Property delivered by Owner to Broker shall remain the property of Owner and be returned to Owner on demand.
8. Media Release. Broker shall make no publicity releases regarding the lease between Owner and Tenant without Owner's prior written consent.
9. Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each party to this Agreement will execute and deliver any additional documents and perform any additional acts that may be necessary or appropriate to effectuate and perform its obligations under this Agreement and the transactions contemplated hereby.
10. Entire Agreement. This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.
11. No Representations. Neither party has made any representations nor promises, other than those contained in this agreement or in some further writing signed by the party making the representation or promise.
12. No Assignment. Neither this agreement nor any right or interest thereunder shall be assigned in any respect whatsoever.
13. Exclusion of Oral Statements. This instrument contains all of the agreements of the parties. No oral or other statements shall be binding on either of the parties hereto.
14. Applicable Law. This Agreement shall be governed by the laws of the State of [State].
15. Time of The Essence. Time is the essence of this agreement.
IN WITNESS WHEREOF, the parties have executed this agreement the day and year as first above written at [City], [State].
This Section for Notary:
STATE OF -------)
) ss: [date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]