1
EXHIBIT 10(a)
MARKETING AGREEMENT
This Agreement is entered into by and between Xxxxxx Income Properties II, Ltd.
(Owner), and Xxxxxx Realty Investors IX, Inc. (Manager).
In consideration of the covenants herein contained, the parties agree as
follows:
1. Owner hereby appoints Manager as the leasing agent for the property known
as 0000 Xxxxxxxxxx Xxxxx, Xxxxx Xxxxxxx, Xxxxx (the Property). Owner hereby
authorizes Manager to exercise such powers with respect to the Property as
may be necessary for the performance of Manager's obligations under the
terms of this Agreement and Manager accepts such appointment under the
terms and conditions hereinafter set forth.
2. Manager shall list and offer for Owner's account, for rental, all space in
the Property that is available for lease and use diligence to obtain
desirable tenants. Manager is authorized, at Owner's expense, to advertise
the Property, to prepare marketing plans, and to list the Property with
brokers who shall be paid by Owner for space leased in accordance with the
commission schedule set forth below.
3. Commissions shall be payable in accordance with the following payment
schedule:
A. New leases and expansions: four and one half percent (4.5%) of
the total base rent for the first ten years of the lease and
two and one quarter percent (2.25%) of the total base rent
beyond the first ten years where no third party broker is
involved and six percent (6%) of the total base rent for the
first ten years of the lease and four and one half percent
(4.5%) of the total base rent beyond the first ten years of the
lease where a third party broker is involved.
B. Extensions and renewals: Two and one quarter percent (2.25%) of
the total base rent.
4. The commission for a new lease will be payable one-half (1/2) upon execution
of the lease and one-half (1/2) upon actual occupancy by the tenant. The
total commission payable for an expansion, extension, or renewal shall be due
upon execution of the expansion, extension or renewal by Owner and tenant. 5.
This agreement shall commence August 4, 1998 and shall continue for a period
of twelve (12) months and thereafter on a month-to-month basis, but may be
terminated with or without cause by Owner or Manager upon no less than thirty
(30) days written notice from the party so terminating.
In witness whereof, the parties hereto have executed this agreement on September
1, 1998.
OWNER: MANAGER:
Xxxxxx Income Properties II, Ltd. Xxxxxx Realty Investors IX, Inc.
By: Xxxxxxx Partners IX, Ltd.
Its: General Partner
By:/s/ XXXX XXXXXXX By:/s/ XXXXX XXXX
----------------------------- ---------------------------
Xxxx Xxxxxxx Xxxxx Xxxx
Title: General Partner Title: Executive Vice President