Common use of Duties of Broker Clause in Contracts

Duties of Broker. Broker accepts the relationship of trust and confidence established between Broker and Owner under this Agreement. Broker agrees to take all actions reasonably required or helpful in selling the Property as promptly as possible, including, but not limited to, promoting and marketing the Property for sale, using its diligent and best efforts, skill, judgment, and abilities to show the Property, offering the Property for sale, procuring prospective purchasers for Property, cooperating with outside brokers representing such prospective purchasers, obtaining financial and reference information on prospective purchasers, promptly submitting all offers to purchase the Property to Owner, taking photographs of the Property, making monthly inspections of the Property, and other actions as may be directed by Owner from time to time including, but not limited to, as a when requested by Owner, using best efforts to assist Owner with obtaining tenant estoppel certificates and subordinations. Inquiries regarding the Property shall be referred to Broker and related negotiations shall be handled by or under direction of Broker, subject to the approval and review of Owner and subject to the participation of legal counsel selected and retained by Owner to assist as necessary in preparation and negotiation of the sale contract and to institute and defend any and all legal proceedings associated with the sale of the Property; provided that no such legal proceedings or compromises or settlements of such legal proceedings shall be undertaken or defended without, in each instance, the prior written approval of Owner. Without limiting the generality of the foregoing, Broker specifically agrees to provide monthly activity reports to Owner on or before the 20th day of each calendar month, detailing the activities undertaken by Broker in connection with the sale of the Property, including, but not limited to, any outstanding offers, prospects shown the Property, active prospects, and other marketing activities. To extent permitted by applicable law, Broker agrees to retain Secured Capital Corp (“SCC”) as an advisor pursuant to an advisory agreement (the “Advisory Agreement”) in substantially the form attached hereto as Exhibit 1 to assist Broker with the discharge of the duties and obligations of Broker pursuant to the terms and conditions of this Agreement. To the extent permitted by applicable law and without limiting the scope or nature of the duties which Broker and SCC may perform hereunder, Broker and SCC shall allocate their duties in connection with efforts to sell the Property in the manner set forth in the Advisory Agreement. Broker shall be responsible for coordinating and supervising all services provided by SCC and any other cooperating brokers as necessary to facilitate the timely and proper performance of the services and activities required by this Agreement. The costs of any services performed by any of the cooperating brokers, including, but not limited to, SCC, are included in the compensation for the Broker’s services established by this Agreement. The retention of any cooperating brokers other than SCC shall be subject to the prior approval of Owner. Notwithstanding anything to the contrary herein or elsewhere, Broker shall perform its duties under this Agreement at its own expense and shall be entitled to no reimbursement of costs other than as expressly provided in Sections 4, 5 and 6 of this Agreement.

Duties of Broker. Broker accepts the relationship of trust and confidence established between Broker and Owner under this Agreement. Broker agrees to take all actions reasonably required or helpful in selling the Property as promptly as possible, including, but not limited to, including promoting and marketing the Property for sale, using its diligent and best efforts, skill, judgment, and abilities to show the Property, offering the Property for sale, procuring prospective purchasers for Property, cooperating with outside brokers representing such prospective purchasers, obtaining financial and reference information on prospective purchasers, promptly submitting all offers to purchase the Property to Owner, taking photographs of the Property, making monthly inspections of the Property, and other actions as may be directed by Owner from time to time including, but not limited to, as a when requested by Owner, using best efforts to assist Owner with obtaining tenant estoppel certificates and subordinationstime. Inquiries regarding the Property shall be referred to Broker Broker, and related negotiations shall be handled by or under direction of Broker, subject to the approval and review of Owner and subject to the participation of legal counsel selected and retained by Owner to assist as necessary in preparation and negotiation of the sale contract and to institute and defend any and all legal proceedings associated with the sale of the Property; provided that no such legal proceedings or compromises or settlements of such legal proceedings shall be undertaken or defended without, in each instance, the prior written approval of Owner. Without limiting the generality of the foregoing, Broker specifically agrees to provide monthly activity reports to Owner on or before the 20th day of each calendar month, detailing the activities undertaken by Broker in connection with the sale of the Property, including, but not limited to, any outstanding offers, prospects shown the Property, active prospects, and other marketing activities. To extent permitted by applicable law, Broker agrees to retain Secured Capital Corp (“SCC”) as an advisor pursuant to an advisory agreement (the “Advisory Agreement”) in substantially the form attached hereto as Exhibit 1 to assist Broker with the discharge of the duties and obligations of Broker pursuant to the terms and conditions of this Agreement. To the extent permitted by applicable law and without limiting the scope or nature of the duties which Broker and SCC may perform hereunder, Broker and SCC shall allocate their duties in connection with efforts to sell the Property in the manner set forth in the Advisory Agreement. Broker shall be responsible for coordinating and supervising all services provided by SCC and any other cooperating brokers as necessary to facilitate the timely and proper performance of the services and activities required by this Agreement. The costs of any services performed by any of the cooperating brokers, including, but not limited to, SCC, are included in the compensation for the Broker’s services established by this Agreement. The retention of any cooperating brokers other than SCC shall be subject to the prior approval of Owner. Notwithstanding anything to the contrary herein or elsewhere, Broker shall perform its duties under this Agreement at its own expense and shall be entitled to no reimbursement of costs other than as expressly provided in Sections 4, 5 and 6 of this Agreement.

Duties of Broker. Broker accepts the relationship of trust and confidence established between Broker and Owner under this Agreement. Broker agrees to take all actions reasonably required or helpful in selling leasing vacant space in the Property as promptly as possible, includingincluding promotional, but not limited to, promoting marketing and marketing the Property for salelease up activities, using its diligent and best efforts, skill, judgment, and abilities to show space available for lease within the Property, offering the Property offer such space for salelease, procuring prospective purchasers procure tenants for Propertysuch space, cooperating cooperate with outside brokers representing such prospective purchaserstenants, obtaining obtain financial and reference information on prospective purchasers, promptly submitting all offers to purchase the Property to Owner, taking photographs of the Property, making monthly inspections of the Propertysuch tenants, and negotiate term sheets and leases of such space with such tenants, in accordance with the economics (e.g. full service rates per rentable square foot, minimum and maximum lease terms, expense stops or base years, etc.) and other actions terms and conditions as may be directed by Owner from time to time including, but not limited to, as a when requested by Owner, using best efforts time. Broker further agrees to assist Owner with obtaining tenant estoppel certificates and subordinationstake all actions reasonably required to effectuate the renewal or extension of any lease during the term of this Agreement. Inquiries regarding for any leases, renewals or extensions or other agreements for the rental, use or occupancy of the Property shall be referred to Broker Broker, and related negotiations shall be handled by or under direction of Broker, subject to the approval and review of Owner and subject to the participation of legal counsel selected and retained by Owner to assist as necessary in preparation and negotiation of leases and other documentation, to provide legal advice in connection with leasing issues at the sale contract Property, and to institute and defend any and all legal proceedings associated with the sale of leasing at the Property; provided that no such legal proceedings or compromises or settlements of such legal proceedings shall be undertaken or defended without, in each instance, the prior written approval of Owner. Without limiting the generality of the foregoing, Broker specifically agrees to (a) provide monthly activity reports to Owner on or before the 20th day of each calendar month, detailing the activities undertaken by Broker in connection with status of the sale leasing progress of the Property, includingand reflecting leases or renewals or extensions out for signature, but not limited to, any outstanding offersproposals outstanding, prospects shown space within the Property, active prospects, the stacking plan for the Property, and other marketing activities. To extent permitted by applicable law, Broker agrees to retain Secured Capital Corp and (“SCC”b) as an advisor pursuant to an advisory agreement (cooperate in the “Advisory Agreement”) in substantially the form attached hereto as Exhibit 1 to assist Broker with the discharge preparation of the duties Budget and obligations of Broker pursuant revisions to the terms Budget relating to the ownership and conditions of this Agreement. To the extent permitted by applicable law and without limiting the scope or nature operation of the duties which Broker and SCC may perform hereunder, Broker and SCC shall allocate their duties in connection with efforts to sell the Property in the manner set forth in the Advisory Agreement. Broker shall be responsible for coordinating and supervising all services provided by SCC and any other cooperating brokers as necessary to facilitate the timely and proper performance of the services and activities required by this Agreement. The costs of any services performed by any of the cooperating brokers, including, but not limited to, SCC, are included in the compensation for the Broker’s services established by this Agreement. The retention of any cooperating brokers other than SCC shall be subject to the prior approval of OwnerProperty. Notwithstanding anything to the contrary herein or elsewhere, Broker shall perform its duties under this Agreement at its own expense and shall be entitled to no reimbursement of costs other than as expressly provided in Sections 4, 5 and 6 of this Agreement.

Duties of Broker. Broker accepts shall use the relationship of trust and confidence established between Broker and Owner under this Agreement. Broker agrees to take all actions reasonably required or helpful in selling the Property as promptly as possible, including, but not limited to, promoting and marketing the Property for sale, using its diligent and best efforts, skill, judgment, and abilities to show the Property, offering the Property for sale, procuring prospective purchasers for Property, cooperating with outside brokers representing such prospective purchasers, obtaining financial and reference information on prospective purchasers, promptly submitting all offers to purchase the Property to Owner, taking photographs of the Property, making monthly inspections of the Property, and other actions as may be directed by Owner from time to time including, but not limited to, as a when requested by Owner, using best efforts to assist Owner Landlord in planning the layout of the Project and in marketing and leasing the Project, all in conformity with obtaining Landlord's financial objectives. Broker will use its best efforts to fully lease Phase I of the Project within twelve (12) months of the date hereof. Broker's obligations include, without limitation, (i) serving Landlord as a retail and leasing consultant by advising Landlord and its architects, designers, consultants, and other agents with respect to the conceptual layout and design of the Project and the tenant estoppel certificates mix and subordinations. Inquiries regarding leasing prospects of the Property Project; (ii) timely preparation and submission to Landlord of a complete merchandising plan for the entire Project, which merchandising plan shall be referred acceptable to Broker Landlord in its discretion; (iii) timely production and related negotiations submission to Landlord of marketing and promotional materials for leases for leasing the Subject Premises for Conforming Uses, which marketing and promotional materials shall be handled by or under direction acceptable to Landlord in its discretion; (iv) making available and utilizing the services of the individuals named on Exhibit "B" attached hereto, for the purposes of faithfully, responsively, and timely performing Broker, subject 's obligations hereunder and achieving Landlord's objectives with respect to the approval Project; (v) identification and review solicitation of Owner and subject to the participation of legal counsel selected and retained by Owner to assist as necessary in preparation prospective tenants and negotiation of (but not agreement to or execution of) Subject Leases with such prospective tenants; and (vi) such other tasks as Landlord reasonably requests (including advising upon prospective restaurant leases) in order to assist Landlord in achieving its projected per square foot rental rates, percentage rental rents, and common area maintenance charges at the sale contract Project and to institute and defend any and in achieving its goal of completing all legal proceedings associated with the sale leasing of the Property; provided that no such legal proceedings or compromises or settlements of such legal proceedings shall be undertaken or defended without, in each instance, the prior written approval of Owner. Without limiting the generality first phase of the foregoing, Broker specifically agrees to provide monthly activity reports to Owner on or before the 20th day of each calendar month, detailing the activities undertaken by Broker in connection with the sale of the Property, including, but not limited to, any outstanding offers, prospects shown the Property, active prospects, and other marketing activities. To extent permitted by applicable law, Broker agrees to retain Secured Capital Corp (“SCC”) as an advisor pursuant to an advisory agreement (the “Advisory Agreement”) in substantially the form attached hereto as Exhibit 1 to assist Broker with the discharge of the duties and obligations of Broker pursuant to the terms and conditions of this Agreement. To the extent permitted by applicable law and without limiting the scope or nature of the duties which Broker and SCC may perform hereunder, Broker and SCC shall allocate their duties in connection with efforts to sell the Property in the manner set forth in the Advisory AgreementProject during 1997. Broker shall be responsible for coordinating not, and supervising all services provided by SCC and any other cooperating brokers as necessary to facilitate the timely and proper performance of the services and activities required by this Agreement. The costs of any services performed by any of the cooperating brokers, including, but not limited has no authority to, SCCexecute any lease or other agreement on behalf of Landlord or in any way incur any obligation on behalf of, are included in the compensation bind, or make any representation or warranty for the Broker’s services established by this AgreementLandlord. The retention of In negotiating any cooperating brokers other than SCC shall be subject to the prior approval of Owner. Notwithstanding anything to the contrary herein or elsewhereSubject Leases, Broker shall perform its duties under this Agreement at its own expense advise all prospective tenants that Broker is not an agent of Landlord, and shall be entitled has no actual or apparent authority to no reimbursement bind Landlord to any lease, agreement, or other obligations, which can only occur upon the execution by Landlord of costs other than as expressly provided in Sections 4, 5 and 6 of this Agreementa written Subject Lease.

Duties of Broker. In addition to the above, the Broker, acting as Owner’s Agent, shall perform the following Uniform Duties: Broker accepts the relationship of trust will exercise reasonable skill and confidence established between Broker and Owner under this Agreement. Broker agrees to take all actions reasonably required or helpful in selling the Property as promptly as possiblecare for Owner, including, but not limited toto the following: Performing the terms of any written or oral agreement with Owner; Presenting all offers to and from Owner in a timely manner regardless of whether the Property is subject to a lease or letter of intent to lease; Disclosing to Owner adverse material facts actually known by Broker; Advising Owner regarding the transaction and obtaining expert advice as to material matters about which Broker knows but the specifics of which are beyond the expertise of Broker; Accounting in a timely manner for all money and property received; and Keeping Owner fully informed regarding the transaction. Broker shall not disclose the following information without the informed consent of Owner: That Owner is willing to accept less than the asking lease rate for the Property; What Owner’s motivating factors are for leasing the Property; That Owner will agree to lease terms other than those offered; Any material information about Owner unless disclosure is required by law or failure to disclose such information would constitute fraud or dishonest dealing; or Any facts or suspicions regarding circumstances that could psychologically impact or stigmatize the Property. Owner consents to Broker’s disclosure of Owner’s confidential information to the supervising broker or designee for the purpose of proper supervision, promoting provided such supervising broker or designee shall not further disclose such information without consent of Owner or use such information to the detriment of Owner. Brokerage Firm has agreements with other owners to market and marketing lease their property. Broker may show alternative properties not owned by Owner to other prospective tenants and list competing properties for lease. If all or a portion of the Property is subject to a lease or letter of intent to Lease obtained by Broker, Broker shall not be obligated to seek additional offers to lease such portion of the Property. Broker has no duty to conduct an independent inspection of the Property for salethe benefit of tenant and has no duty to independently verify the accuracy or completeness of statements made by Owner or independent inspectors. Owner shall not be liable for the acts of Broker unless such acts are approved, using its diligent directed or ratified by Owner. Broker is a limited agent of Owner, with the following additional duties: Promoting the interests of Owner with the utmost good faith, loyalty and best effortsfidelity. Seeking rental rates and terms that are acceptable to Owner. Counseling Owner as to any material benefits or risks of a transaction that are actually known to Broker Broker shall assist in obtaining settlements on insurance or other claims, skill, judgment, and abilities if necessary. Broker shall not be required to show the Property, offering inspect the Property for sale, procuring prospective purchasers for Property, cooperating with outside brokers representing such prospective purchasers, obtaining financial and reference information on prospective purchasers, promptly submitting all offers to purchase the Property to Owner, taking photographs of the Property, making monthly inspections of the Property, and other actions as may be directed by Owner from time to time including, but not limited to, as a when requested by Owner, using best efforts to assist Owner with obtaining tenant estoppel certificates and subordinationsperiodic or routine basis. Inquiries regarding the Property shall be referred to Broker and related negotiations shall be handled by or under direction of Broker, subject to the approval and review of Owner and subject to the participation of legal counsel selected and retained by Owner to assist as necessary in preparation and negotiation of the sale contract and to institute and defend any and all legal proceedings associated with the sale of the Property; provided that no such legal proceedings or compromises or settlements of such legal proceedings shall be undertaken or defended without, in each instance, the prior written approval of Owner. Without limiting the generality of the foregoing, Broker specifically agrees to provide monthly activity reports to Owner on or before the 20th day of each calendar month, detailing the activities undertaken by Broker in connection with the sale of the Property, including, but not limited to, any outstanding offers, prospects shown the Property, active prospects, and other marketing activities. To extent permitted by applicable law, Broker agrees to retain Secured Capital Corp (“SCC”) as an advisor pursuant to an advisory agreement (the “Advisory Agreement”) in substantially the form attached hereto as Exhibit 1 to assist Broker with the discharge of the duties and obligations of Broker pursuant to the terms and conditions of this Agreement. To the extent permitted by applicable law and without limiting the scope or nature of the duties which Broker and SCC may perform hereunder, Broker and SCC shall allocate their duties in connection with efforts to sell inspect the Property in prior to and subsequent to each tenant occupying the manner set forth in the Advisory AgreementProperty. Broker shall be responsible for coordinating and supervising investigate all services provided by SCC and any other cooperating brokers as necessary to facilitate the timely and proper performance of the services and activities required by this Agreementpossible tenants’ credit history. The costs of any services performed by any of the cooperating brokers, including, but not limited to, SCC, are included in the compensation for the Broker’s services established by this Agreement. The retention of any cooperating brokers other than SCC shall be subject to the prior approval of Owner. Notwithstanding anything to the contrary herein or elsewhere, Broker shall perform its duties under this Agreement at its own expense require all possible tenants to complete an application and shall be entitled to no reimbursement of costs other than as expressly provided in Sections 4, 5 and 6 of this Agreementwill run a credit report on the tenant. Disclosure.