REALCO INTERNATIONAL,INC.
REALCO INTERNATIONAL,INC.
17 Meromei Hasodeh Kiryat Xxxxx
Xxxxx Illit,Israel
THIS AGREEMENT made as of the 18th day of February 2014 between Israel RE
Vision Group 60 Nachal Dolev Ramat Beit Shemesh,Israel (hereinafter collectively referred to
as the "Owner"), and Realco International inc. Having offices at 17 Meromei Hasodeh,Kiryat
Xxxxx Xxxxx Illit,Israel (hereinafter referred to as the "Agent").
WITNESSETH
The parties hereto agree as follows:
1:
Hereby accepts appointment, on the terms and conditions
hereinafter provided, as managing Sales agent of new and existing developments of apartments
and residential homes located in Jerusalem, Israel. Realco will receive $5,000 per month from
Israel Re vision group for marketing and services, in addition Realco will be paid 3% for any
new real estate sales by them to be paid at closing
2:
The agent shall perform the following services with due diligence and
care:
(a)
Cause to be hired, paid and supervised, all persons necessary to
be employed in order to market and sell properties being developed that are new construction
as well as existing properties thought Israel
(b)
Cause the Building of these projects to be maintained in such
condition as may be deemed advisable by the contracts of the buyers, including interior and
exterior , preservation or safety of the Building or for the safety of the buyers, or other persons.
(c)
Recommend, and with the approval of the buyer, cause, all such
acts and things to be done in or about the Building as shall be necessary or desirable to comply
with any and all orders or violations affecting the properties, placed thereon by any municipal
authority having jurisdiction thereof, if failure to comply promptly with any such order or violation
would or might expose the Owner, buyer or the Agent to criminal liability, the Agent may cause
such order or violation to be complied without consultation with the buyers
(d)
Oversee all necessary construction and to properly maintain the
Building, make all such contracts and construction are on schedule
(e)
Advise the Owner with respect to proper insurance coverage of
the property, its employees and if requested by the Owner, cause to be effected and/or
maintained, in such amounts and through such carriers as the Owner shall designate or
approve, fire, rent, plate glass, boiler, water damage, liability, directors' and officers' liability,
workers' compensation, employer's liability, disability and any other insurance the owner may
elect to carry; and to cooperate with any independent insurance broker or consultant that the
Owner ,or buyer may designate or approve and engage for the purpose of effecting insurance
and protecting its interests with respect thereto.
(f)
Check all bills received for services, work and supplies ordered in
connection with construction, payments, and operating the Building, mortgage interest,
mortgage amortization, water charges, sewer rent, assessments, real estate taxes and
corporate franchise and other taxes assessed against the owner or the Building as and when
the same shall become due and payable
(g)
If requested by the Owner, list and offer for sale, lease said
properties
(h)
If requested by the Owner, accept applications and references
from prospective buyers or tenants
(i)
Schedule any outside contractors and, to the extent possible,
arrange the dates thereof so that there shall be a minimum of disturbance to the operation of the
Building and of inconvenience to others. .
(j)
Consider and, when reasonable, attend to complaints. If the Agent
shall deem any such complaint unreasonable, it shall advise the Owner of the complaint and the
reason for its opinion that the complaint is unreasonable.
(k)
Cause to be prepared and filed the necessary forms with the local
municipal authority.
(l)
Promptly investigate and notify the Owner of any accident of claim
for damage which Agent has actual notice of relating to the ownership, operation, management
and maintenance of the Building, including any damage or destruction thereto and cooperate
with and make such reports as are required by the Owner's insurers in connection therewith.
(m)
Generally, do all things reasonably deemed necessary or
desirable for the buyer of the property
3:
The Owner authorizes the Agent, for the Owner's account and on its
behalf, to perform any act or do anything reasonably necessary or desirable in order to carry out
the Agent's agreements contained in Article SECOND hereof, and everything done by the Agent
under the provisions of Article SECOND shall be done as agent of the Owner, and all obligations
or expenses incurred there under (for which the Agent is not compensated as provided in Article
SIXTH hereof) shall be at the expense of the Owner subject to the specific limitations set forth
herein.
Any payments made by the Agent hereunder shall be made out of such funds
as the Agent may from time to time hold for the account of the Owner or as may be
provided by the Owner. The Agent shall not be obliged to make any advance to or for the
account of the Owner or to pay any amount except out of funds held or provided as
aforesaid, nor shall the Agent be obliged to incur any extraordinary liability or obligation
unless the Owner shall furnish the Agent with the necessary funds for the discharge thereof.
4:
All funds collected by the Agent for the account of the Owner will be
deposited in a bank or special account or accounts of the Owner and will not be co-mingled with
other funds of the Agent. Such funds will be used only for Building and operations.
5:
The Agent shall not be liable to the Owner for any loss or damage
not caused by the Agent's own misconduct, negligence or failure to comply with its obligations
hereunder. The Owner will indemnify the Agent against and hold the Agent harmless from (a)
any liability, damages, costs and expenses (including reasonable attorneys' fees) sustained or
incurred for injury to any person or property in, about or in connection with the Building, from
any cause whatsoever, unless such injury shall be caused by the Agent's own misconduct,
negligence or failure to comply with its obligations hereunder, and (b) any liability, damages,
penalties, costs and expenses, statutory or otherwise, for all acts properly performed by the
Agent pursuant to the instructions of the Owner; provided, in each of the foregoing instances,
that the Agent promptly advises the Owner of its receipt of information concerning any such
injury and the amount of any such liability, damages, penalties, costs and expenses. The Owner
will carry liability insurance (with limits acceptable to the Agent in its reasonable judgment),
workers' compensation and employer's liability insurance, will include the Agent as a party
insured under the liability policy and will deliver a copy of such liability policy to the Agent or a
certificate evidencing the same. The Agent hereby indemnifies the Owner (and all directors and
officers of the Owner) and holds Owner and such officers and directors harmless from and
against any and all liability, damages, costs and expenses, statutory or otherwise (including
reasonable attorneys' fees), sustained or incurred as a result of Agent's misconduct, negligence,
wrongdoing or failure to comply with Agent's obligations under this agreement or under law.
6:
The Owner shall pay the Agent 3% of whatever is collected as full
compensation for sales.
(a)
Out-of-pocket expenses incurred at the request of Owner,
including the cost of postage and photocopying for mass mailings to all shareholders made at
the request of Owner.
7:
The Agent shall abide by the highest standards of ethics in the
performance of its obligations hereunder.
8:
This agreement shall be governed by, and interpreted in accordance with,
the laws of the State of Nevada.
9:
All prior understandings and agreements between the parties relative
hereto are superseded by this agreement, which is the entire and only agreement between the
parties as to the subject matter hereof. This agreement cannot be altered, modified, amended,
changed or canceled or any provisions waived or abrogated, except by a writing executed by
both of the parties, and except further this agreement may be canceled or terminated by either
party with 10 days written notice.
10:
All notices desired or required to be given by the parties hereunder shall
be deemed to have been properly given and shall be effective when sent by U.S. registered or
certified mail, return receipt requested, or by overnight delivery or by hand delivery, addressed
to the party at the address set forth above. Either party may give the other party notice of a
substitute address for service.