STANDARD OPEN LISTING AGREEMENT
Business Name: Address: Seller(s): Business Phone: Business Description: Total Price (excluding real property): Down Payment: Down Payment: Terms: Terms: Total Price Real Property (legal description attached:
1. SELLER hereby employs and appoints BROKER as SELLER'S exclusive agent and grants to BROKER the full and exclusive right to sell, exchange, trade, lease or otherwise dispose of all or any part of the above described business (referred to as BUSINESS), which shall include the conveyance of all or any portion of assets, rights, liabilities or property at the proposed price and terms set forth above, or for any other price and terms acceptable to SELLER. 2. This agency, referred to as LISTING PERIOD, shall commence on the date that the last of the signatures to this agreement was obtained and shall exist and be irrevocable for days past the date that all documents requested herein by BROKER and SELLER are received by BROKER. 3. BROKER attempts to procure a ready, willing and able purchaser for BUSINESS. SELLER grants to BROKER the right to show BUSINESS upon reasonable notification to SELLER and to advertise BUSINESS at BROKER'S discretion. 4. to SELLER agrees to pay BROKER a Commission or damages, as the case may be, in an amount equal ( %) percent of the total purchase price with a minimum fee of ($ ) Dollars and applicable sales and use tax if any of the following occur:
a. BROKER procures a BUYER ready, willing and able to purchase BUSINESS, subject to the prior sales, at the terms set forth above or at any other price and terms acceptable to SELLER; or b. SELLER fails and refuses to complete a lease, trade, or otherwise disposition of BUSINESS to BUYER procured by BROKER after entering into a written agreement to do so; or c. SELLER sells, leases, trades or otherwise disposes of all or any part of the BUSINESS within years from the termination date of LISTING PERIOD to any person, firm, or entity referred to BUSINESS by BROKER, or who became aware of BUSINESS through the efforts of BROKER during LISTING PERIOD. An employment agreement or any joint venture or partnership arrangement between a BUYER procured by BROKER and the SELLER shall be deemed to be a disposition herein. 5. The sale of any or all shares of stock of the BUSINESS to a BUYER procured by BROKER shall be construed to be a sale of the BUSINESS assets at the listed price, and shall be construed according to the terms hereof.
The Commission shall be due and payable immediately upon the occurrence of any of the acts or disposition set out hereinabove, although, in the event of a sale, BROKER may allow for payment of the Commission at closing. If real property owned by SELLER or any shareholder of SELLER is leased or sold to BUYER, such
SELLER, Lessor or shareholder will pay BROKER a Commission equal to percent of the gross rental or sales price. 6. SELLER represents and warrants the following:
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a. SELLER, and such portion of BUSINESS operation as is applicable, is now, and shall otherwise remain, in full compliance with all applicable laws, rules and regulations regarding the commencement, operation and sale of BUSINESS. b. All facts, figures and other information set forth above, and all additional supporting documentation pertaining to BUSINESS, has been provided to the BROKER by the SELLER, and that SELLER'S representatio