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REDEVELOPMENT AGENCY
REPORT 201 0-29 7A
MAY 18, 2010
TO: BELINDA B. ESPINOSA, EXECUTIVE DIRECTOR
FROM: MARY DRAZBA, ECONOMIC DEVELOPMENT MANAGER
SUBJECT: ADOPT AN AGENCY RESOLUTION TO EXTEND THE CONTRACT
WITH COLLIERS INTERNATIONAL, INC. FOR THE SALE OF PARCEL
401 -211-033 LOCATED AT THE CORNER OF PINOLE VALLEY ROAD
AND HENRY AVENUE COMMONLY KNOWN AS GATEWAY EAST
RECOMMENDATION
That the Agency adopt a resolution authorizing a 12 month extension to the contract
with Colliers International, Inc for the sale of Assessors Parcel Number 401-211-033
located at the corner of Pinole Valley Road and Henry Avenue, commonly known as
Gateway East.
BACKGROUND
In January 2008, the City and Redevelopment Agency accepted the Pinole
Redevelopment Agency Program Review, which contained recommendations for
improving asset management. Selling land assets, such as the pad at the Gateway
East site, was recommended to enable the Agency to capture its equity in the land and
redeploy its resources for other public purposes. With the completion of Kaiser, the
medical office pad approved as part of the Gateway East project is ready to be sold for
development.
On April 7, 2009, the Agency authorized entering into a 12 month contract with Colliers
International to sell this property. Colliers International, Inc. was selected through an
interview process as the highest-qualified brokerage team to sell the Gateway East
property. The two senior members of the Colliers team work together to provide
specialized real estate services for medical facilities and medical professionals. The
Medical Division within Colliers was created expressly for medical and dental leasing,
acquisition, sales, and development.
On November 17, 2009 the City Council and the Redevelopment Agency Board
approved a Purchase and Sale Agreement between the Agency and Corlin Commercial
for the disposition of the property. Escrow had been scheduled to close on May 20,
2010.
DISCUSSION
The Purchase and Sale Agreement with Corlin Commercial had a 120 day due diligence
period to allow the developer ample time to secure financing and find a tenant. On
March 30, 2010 the Agency was notified that Corlin Commercial was withdrawing from
escrow.
Redevelopment Agency Report 2010 - 29
May 18, 2010 2
The developer was unable to obtain financing for the acquisition. The buyer indicated
that the lender wanted a signed lease with a tenant before they would finance the
project. The buyer has been working with an architect on the building design and stated
that he intends to continue with the project, concentrating his efforts on securing a
tenant.
The existing contract with Colliers expired April 14, 2010. In order for the brokers to
continue to market the site, an extension to the contract is necessary. Section C of the
Exclusive Authorization to Sell allows an extension upon written notice to the Broker
that the Agency agrees to extend to a new date certain. Staff recommends that the
contract be extended for 12 months to April 14, 2011, with all other terms remaining the
same.
FISCAL IMPACT
Funding of the 6% sales commission will be paid through escrow upon disposition of the
property. There are not other costs to extend the contract term.
ATTACHMENTS
A. Agency Resolution
B. Exclusive Authorization to Sell
RESOLUTION NO. — 2009
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF PINOLE EXTENDING THE
CONTRACT WITH COLLIERS INTERNATIONAL, INC. FOR THE SALE OF PARCEL 401-211-033 LOCATED
AT THE CORNER OF PINOLE VALLEY ROAD AND HENRY AVENUE COMMONLY KNOWN AS GATEWAY
EAST
WHEREAS, on November 22, 1972, the City Council of the City of Pinole (“City”) adopted Ordinance No.
313, establishing the Redevelopment Agency of the City of Pinole (“Agency”) and approving the Redevelopment
Plan for the Pinole Vista Redevelopment Project (“Project Area”), as amended and restated by Ordinance No.
2004-05 on May 5, 2004, and as may be further amended from time to time (‘Redevelopment Plan”); and
WHEREAS, pursuant to California Community Redevelopment Law (Health and Safety Code Section
33000 et. seq.) (“Redevelopment Law”), the Agency is authorized to engage in redevelopment activities that
alleviate blighting conditions within the Project Area and that primarily benefit the Project Area, within the territorial
jurisdiction of the Agency; and
WHEREAS, Agency has adopted an Implementation Plan for redevelopment of the Project Area
(“Implementation Plan”) that identifies the Gateway East site to be developed; and
WHEREAS, Agency has selected Colliers International, Inc. as the broker authorized to market the
property and desires to extend the brokerage contract for 12 months to April 14, 2011.
NOW, THEREFORE, THE REDEVELOPMENT AGENCY OF THE CITY OF PINOLE DOES RESOLVE AS
FOLLOWS:
Section 1. Agency hereby finds and determines that the recitals above are true and correct.
Section 2. The Agency hereby finds and determines that redevelopment of the property pursuant to
the implementation plan, will eliminate blight within the Project Area.
Section 3. The Agency hereby finds and determines that the extension of the broker’s contract is
consistent with the provisions and goals of the Agency.
Section 4. The Executive Director of the Agency is hereby authorized on behalf of the Agency to
notify the broker of the Agency’s desire to extend the contract, and to administer the Agency’s obligations,
responsibilities and duties to be performed under the contract and related documents.
APPROVED AND ADOPTED this 18th day of May 2010.
AYES: BOARD MEMBERS:
NOES: BOARD MEMBERS:
ABSENT: BOARD MEMBERS:
ABSTAIN: BOARD MEMBERS:
Patricia Athenour. CMC
Board Secretary, Redevelopment Agency of the City of Pinole
Attachment A
I’.11 R\ \1fO’ ‘I
EXCLUSIVE AUTHORIZATION TO SELL
I Pursuant to this Exclusive Authorization to Sell (“Agreement”), the undersigned Gtjt_efPire1e_Redevelopment Agency of the City Pinole (“Client”) of
hereby irrevocably grants to COLLIERS INTERNATIONAL (“Broker”), the exclusive right to negotiate a Sale of that certain real property hereinafter
described (“Property). The exclusive agency hereby created (“Agency”) shall be for a period commencing on April 13, 2009 date”) and ending (‘start
at midnight on April 14, 2010 (“end date”)(”lnitial Agency Period”).
A. PROPERTY
The Property is located at APN: 401-211-033 the City of Pinole, County of Contra Costa, State of California and further described as an
—, in
approximately 26,090 sq ft or .60 acres 40.Q0-S of vacant land.
B. PRICE AND TERMS
The price and terms of the Sale of the Property shall be as follows: $25.00 $30.00 per square foot or as negotiated by Client and the prospective
-
purchaser of the Property with the assistance of Broker.
C. EXTENSION OF INITIAL AGENCY PERIOD
5 Initial Agency Period can be extended beyo-he_one_yeara ecsar3t..4ate_by the Client’s written notice to Broker that Client agrees to
—The
extend the Agency to a new date certain. In this Agreement, “Agency Period” shall refer to the period of time from the start date to the end of the last
extension of the Agency.
D. COMMISSION SCHEDULE AND PAYMENT
1. AMOUNT OF CoMMissIoN: The that the commission due to Broker under this Agreement shall be six percent (6%) of the gross
parties agree
sales price of the interest to be transferred. [Confirmi
2. Obligation to Pay Commission.
2.1 During the Agency Period. During the Agency Period, Broker shall have earned and Client shall pay the commission to Broker if,
during the Agency Period either (a) the Property or any interest therein is sold, transferred or conveyed by Client; (b) a purchaser is
procured by or through Broker, Client or any other person or entity (including another real estate broker) and said purchaser ready, is
willing and able to purchase the Property or any interest therein and actually does purchase the Property or an interest therein, including
but not limited to the granting of an option or right of first refusal, on the terms stated above or other terms acceptable to Client; or (c) any
contract for the sale, transfer or conveyance of the Property or any interest therein is made directiy or indirectiy with Client resulting the in
actual sale, transfer or conveyance of the Property. For purposes of this Agreement, references to a “Sale” of the Property shall include
any transaction involving a transfer of an interest in the Property, excepting a security interest in support of flnandng or a conveyance to
the City of Pinole.
2.2 After the Agency Period. During the ninety (9O day one-f4-)-3’eac period following the final expiration of the Agency Period, Broker
shall have earned and Client shall pay the commission to Broker on any transaction that would otherwise qualify for a commission under
2.1 above, where the transaction involves Identified Parties.speGiftaalI deRed-parties4ased on acflvitydudng.thAg€ncy—Period,
“Identified Parties” shall mean persons or entities that had contact with Broker during the Agency Period to receive information about the
Property, to make an offer to purchase, or to negotiate for any interest in the Property and that are identified on a written list provided by
Broker to Client within Within 30 days of the final expiration of the Agency
.
3. Time and Manner of Payment: A commission that has been earned by Broker shall be payable in accordance with the following
provisions:
3.1 For sales or exchanges: (a) if such transaction is closed through an escrow, upon the closing of said escrow; (b) if such transaction is
closed without an escrow, upon the eariier of (i) recordation of a deed; or (ii) delivery of a deed or other instrument of conveyance.
Ths form his been provided to you by Colliers International with Commercial Real Estate Offices throughoct the Americas, Europe. Asia Pacific and Africa, as a clerical service for the convenience of the partiento this trar,sactioa It
is not intended as a substitrste for legal advice. It is not intended to provide legal advice. Colliers tnternational strongly urges the parties to retain legal counsel to prepare and/or review any document intended to memorialize thit
transaclioa The parties hereto waive any liability against Colliers International which may be inc,ured as a result of utilizing this form.
www.coUiersparrish.com
Art Independent Member of Colliers International with Commercial Real Estate Offices throughout the Americas, Europe, Middle East, Asia Pacific and Africa ,#j)// A c)
CPI Forms & Templates
1-020 (Rev. 07102104)
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ATTACHMENT B
3.2 For an option or right of first refusal agreement, upon Client’s receipt of payment.
-or agreoment of sale, joint venre agreement, business oppouni’ or ansacfJon not involving the delive of a deed, upon—the
“
execution of the agreement evidencing u... tranDaction.
This form has been provided to you by Colliers International with Commercial Real Estate Offices throughout the Anmesicns, Europe Asia Pacific and Africa, as ucieicaJ service for the convenience of the parties to lids transaction. It
is not intended as a substitute for legal advice. It is not intended to provide legal advice. Colliers International strongly urges the parties to retain legal counsel to prepare and/or review any document intended to memorialize this
transaction The parties hereto waive any liability against Colliers International which may be incurred as a result of utilizing this forum.
www.colliersparrish.com fl hfl, /k
Arm Independent Member of Colliers International with Commercial Real Estate Offices throughout the Asterican, Europe, Middle East, Asia Pacific and Africa
CPlForrns&Tempiates
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E. CLIENT COOPERATION
Broker agrees to use all reasonable efforts to find a purchaser for the Property, and Client agrees to cooperate with Broker in causing a Sale of the
Property to occur. Client shall immediately refer to Broker all inquiries of any party interested in purchasing the Property, a portion thereof or an
interest therein and Broker shall diligentiy pursue all such referrals. All negotiations regarding the Sale of the Property shall be pursued through
Broker or with Broker’s knowledge as to the terms and parties. Client hereby authorizes Broker to accept a deposit from any prospective purchaser
and to transfer such deposit to an escrow agentforthe account of the purchaserforthe purpose of consummating a Sale of the Property. If a Sale is
not consummated, any deposits or payments, including payments for options, liquidated damages and other amounts retained by Client, shall be
I equally divided between Client and Broker, except that Broker’s portion thereof shall not exceed the amount of the commission that would otherwise
have been payable upon the consummation of such transaction pursuant to the terms of this Agreement All written offers received by Broker for the
purchase of the Property shall be promptiy reviewed and responded to by Client and Broker.
F. COOPERATING BROKERS
Client acknowledges that Broker is entitied and encouraged to solicit the cooperation of other real estate brokers. However, Broker may not enter
into any commission arrangements with other brokers that would be inconsistent with the terms of this Agreement or which would increase the total
amount of Client’s liability hereunder, and Client’s sole liability for commissions shall be as provided in this Agreement. Broker has no responsibility
to pay a fee or commission to a cooperating broker, unless and until Client has paid the fee or commission to Broker.
G. NONDISCRIMINATION
Both Client and Broker hereby acknowledge their understanding that it is illegal to refuse to present, sell or lease real property to any person
because of race, color, religion, national origin, sex, marital status, age or physical disability. Client and Broker each agree to comply with all f!:al
state and local laws. rules, regulations. orders and ordinances applicable to the transactions contemplated hereby. including without limitation the
Fair Housing Act, the Unruh Act. the 1964 Civil Rights Act and all amendments thereto.
I H. CLIENT REPRESENTATIONS; BROKER REPRESENTATIONS
Except as may be provided in an addendum to this agreement signed by both Client and Broker, Client hereby warrants and represents to Broker
that (1) Client is the owner of record of the Property or has the legal authority to execute this Agreement on behalf of such owner of record, (2) no
person or entity has any right to purchase or sell the Property or any portion thereof by virtue of any agreement, option or right of first refusal, (3)
there are no delinquencies or defaults under any deed of trust, mortgage or other encumbrance of the Property, (4) the Property is not subject to the
jurisdiction of any court in any bankruptcy, insolvency, conservatorship or probate proceeding,-a—()-Reithei-&ekeoc-anysalespson_affihiated
with Broker—has made any promises or representations to or agreementa with Client not contained heroin on the subject matter of this Agreement.
Broker and the persons executing this Agreement on behalf of Broker each represent and warrant that (i) Broker and Broker’s employees and
gents engaged in providing services under this Agreement possess and shall maintain throughout the term of this Agreement all licenses and
permits reguired in connection with the provision of such services, (ii’ the execution of this Agreement has been duly authorized by all requisite
action, and (iii) the persons executinci this Agreement on behalf of Broker have been duly authorized to do so.
I. DISCLOSURES, EXPERT MATTERS AND RESPONSIBILITIES OF CLIENT AND BROKER
1. DISCLOSURES: Client agrees to comply with California law for the disclosure of any and all material facts to prospective purchaser(s). To
meet this requirement, Client acknowledges Broker’s recommendation that Client obtain legal advice from a qualified legal professional.
As between Client and Broker, Client shall have sole responsibility for disclosure to the purchaser(s), Broker is authorized by Client, and
agrees to te-disdose to prospective purchaser(s) any and all material information about the Property that is provided by Client or known to
the Broker. Broker’s responsibility shall be limited to deliver information provided by Client to prospective purchaser(s).
2. DEFENSE, INDEMNITY AND HOLD HARMLESS
This form has been provided to you by Colliers International with Commercial Real Estule Offices throughout the Ame,icas Europe, Asia Pacific and Agica, us a clerical service for the cotveoiescc of the parties to thio tronsuctiom
It
is not intended as a substitute for legal adwcc It is not intended to peovide legal adnice Colliers htternational strongly urges the parties to retain legal counsel to prepare .rsdlcir review any document intesdtd to memorialize this
transactior The parties hereto waive any liability against Colliers International which may be incurred as a result of utilizing this form
www.colliersparrish.com
An Independent Member of Coltiecs lrttematiorral with Commercial Real Estate Offices throughout the Americas, Europe, Middle East. Asia Pacific and Africa
CPI Forms & Templates
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2.1 Client: Client shall defend, indemnify, and hold harmless Broker and each of its agents, employees, directors, shareholders,
contractors and representatives from and against any and all losses, claims, allegations, liabilities, damages, costs and expenses
(including, without limitation, reasonable attorneys’ and experts’ fees), caused by or arising in connection with: (i) information supplied by
Client or Client’s agents, employees, contractors or consultants regarding the Properly; (ii) information known to Client, but not supplied by
Client to Broker regarding the Property; (iii) the negligence or willful misconduct of Client or its agents, employees, contractors or invitees;
and (iv) a breach of Client’s obligations under this Agreement Notwithstanding this provision, Client’s obligation shall not extend to protect
Broker or Broker’s agents, employees, directors, shareholders, contractors and representatives against the Bcokec!sseIeqrosnegligence
or willful misconduct of any of the foregoing.
2.2 Broker: Broker shall defend, indemnify, and hold harmless Client and each of its agents, employees, direotefselected and appointed
officials, ehar2holders, contractors and representatives from and against any and all losses, claims, allegations, liabilities, damages, costs
,
and expenses, ncluding, without limitation, reasonable attorneys’ and experts’ feesi, caused by or arising in connection with: to the extant
they arise out of either (i) Broker’s provision of false information reprocontation to-a-pr-ospective purchaser of information which is false-and
terial—regarding the Property, which material-information Broker knew to be false, er—(ii) Broker’s failure to provide a prospective
purchaser with information known to Broker regarding a material defect concerning the Property, unless such representation or failure
arises directly or indirectly from Client’s representation or failure to disclose information to Broker, (iii) the negligence or willful misconduct
of Broker or its agents, employees, contractors or invitees. or (iv’) a breach of Broker’s obligations under this Agreement Notwithstanding
this provision, Broker’s obligation shall not extend to protect Client against Client’s gg..eofe negligence or willful misconduct
3. EXPERT MATTERS
3.1 Client and Broker acknowLedge and agree that there are a number of potentially significant matters related to commercial properties,
which may be material to a particular transaction, the evaluation of which would require specialized expertise which is beyond the expertise
and/or responsibility of the Broker (“Expert Matters”). Client acknowledges Broker’s recommendation that Client obtain the advice of
qualified professionals and experts of Client’s choice. Client acknowledges that it is not relying on and will not rely on Broker with regard to
Expert Matters, but instead Client will rely entirely on its own investigation and that of qualified professionals and experts.
3.2 Expert Matters may indude, but are not limited to, the following: the use, generation, storage or presence of hazardous or toxic
substances and underground storage tanks; natural hazards, such as fire, flood, or earthquake; building safety and structural integrity of
roof, walls, and foundations or any improvements located on the Property; operation or condition of mechanical, plumbing, utility or life
safely systems; mold, fungus, water damage, or effects of moisture; compliance with Americans with Disabilities Act (ADA); compliance
with building and fire codes; tax, accounting, or legal effects or consequences of the proposed transaction; survey, linear or area
measurements of the Property; availability of utilities and utility connections, adequacy, availability and condition of sewer lines and/or
connections, public transportation, or other infrastructure; zoning and permitted land uses; insurance policies and premiums; architectural
design or engineering; geotechnical/soil condition; termites or other pests or rodents; statements of income and expense or other financial
statements; the financial soundness of a prospective tenant or subtenant; condition of title; or existing taxes, assessments or liens.
3.3 Under this Agreement, Broker has no responsibility to, has not made and will not make an independent investigation or determination
with respect to any Expert Matters. Any information communicated to Client by Broker regarding any of the Expert Matters arises from
third party sources and has not been and will not be independently verified by Broker.
4. MI of the provisions of this Section (j shall survive the expiration or earlier termination of this Agreement.
1)
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J. DUAL AGENCY AUTHORIZED
Client agrees that Broker may represent a potential purchaser (“Purchaser”) of the Property. In the negotiation of a potential Sale of the Property by
Client, Client authorizes Broker to act as a dual agent representing both Client and Purchaser. When performing as a dual agent, Client agrees that
Broker shall not disclose to Client the best terms upon which Purchaser is willing to purchase the Property, unless authorized to do so by Purchaser.
Similady, Broker agrees not to disclose to Purchaser the best terms upon which Client is willing to sell the Property, unless authorized to do so by
Client.
KK. INTENTIONALLY OMITTED. MEDIATION OF DISPUTES
parties cannot agree on a modiator, either ntrlv mw ntitinn the Superior Court of the County where the Property is located, which Court shall-tie
Ths form has been provided to you by Colbeen International mOb Commercial Real Estate Offices throughout the Aine,ica Europe, Asia Pacific end Aflica, as a clerical service for the convenience of the parties to this transaction. it
is not intended as a substitate thr legal advice, it is not intended to provide legal advice Colliers International arongly urges the patties to retain legal counsd to prepare andlor review any docenent intended to memorialize this
transaction. The parties hereto waive any liability against Coliiers International which may be incurred as a result of utilizing this fom
www.coIflersparrish.com
Ar, Independent Member of Colliers International with Commerctal Real Estate Offices thioughccit the Americas, Europe, Msictie East, Asia Pacific and Africa
CPI Forms & Templates
1-020 (Rev. 07102104) Page4of4
4ft*f
authorized to appoint a mediator. The parties shall cooperate to promptly schedule the mediation. The mediator may conduct more than one sessioi
and both parties to the dispute shall pay fees equally. Matters that are within the jurisdiction of the small daime court are excluded from mediatico,
fri the eveit-a perty pursues legal action without first seeking mediation, that party shall not be en-titled to recover prevailing party attorney fees_ec
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L. GENERAL PROVISIONS
1. BINDING ON SUCCESSORS: The parties intend for and agree that their respective successors, assigns, heirs and transferees shall be
bound by this Agreement
2. AMENDMENTS AND MODIFICATION: No amendments to or modifications of this Agreement nor the termination of this Agreement shall be
valid or binding unless made in writing and signed by both Client and Broker. Any purported amendment, modification or termination of
this Agreement that is oral, or that is in writing but not signed by both Client and Broker, shall be void and of no effect whatsoever.
3. ATrORNEY’s FEES, COSTS AND INTEREST: If any claim or controversy arises concerning the performance or interpretation of this Agreement,
the prevailing party shall be entitled to reasonable attorney’s fees, court costs, expert witness fees andlor other expenses relating to said
claim or controversy, through appeal, if any. For the purposes of this Agreement, “prevailing party” shall mean the party that received
substantially the relief requested, whether by settlement, dismissal, summary judgment, mediation, arbitration, judgment or otherwise. If
there is a failure to make any payment to Broker at the time required herein, the delinquent sum(s) shall bear interest at the rate of jaht
tweWe-percent (84-%) per year or the maximum non-usurious interest rate for loans permitted by law, whichever is lower.
4. ENTIRE AGREEMENT OF PARTIES: This Agreement supersedes any and all agreements, either oral or written, between the parties hereto
with respect to the Property. Both parties to this Agreement acknowledge that no representations, inducements, promises, or agreements,
oral or otherwise, have been made by any party, or anyone acting on behalf of any party, that are not embodied herein, and that no other
agreement, statement, or promise not contained in this Agreement shall be valid or binding.
5. PARTIAL INVAUDFrY: If any provision in this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the
remaining provisions will nevertheless continue in full force and effect without being impaired or invalidated in any way.
6. GOVERNING LAw: This Agreement will be governed by and construed in accordance with the laws of the State of California. In the event of
any legal action, jurisdiction and venue shall be in the Superior Court of the State of California, for the County in which the Property is
located.
7. NOTICES: Notices under this Agreement shall be provided to the other party by regular U.S. mall addressed to the a 4ciowi address
shown below the signature of the party.
—r-.su--agrce that time is of the cscnce-with regard to the matters prevded-fei-in4his-Agfeement
DOCUMENTS; APPROVAL BY CLIENT’S GOVERNING BOARD: Client reserves the right to provide purchase and sale or other
contractual agreements to be used for the sale of the Property or conveyance of an interest therein. Broker acknowledges that the sale of
the Property and the conveyance of any interest therein is subiect to the approval of Client’s governing board.
9. NO ASSIGNMENT: Broker shall not assign this Agreement or any right or obligation hereunder without the prior written consent of Client
which may be withheld in Clients sole discretion.
10. COUNTERPARTS: This Agreement may be executed in counterparts, each of which shall be an original and all of which, taken together
shall constitute the same agreement.
M. OTHERTERMS AND CONDITIONS
This form bus been provided to you by Colliers International with Commercial Real Estate Offices throughout the Americas, Europe Asia Pacific and Africa, as a cle,icai service for the convenience of the pasties to this transaction It
is not intended as a substitute for legal advic It in not intended to provide legal edvice, Colliers International strongly urges the pasties to retain legni counsel to prepare and/or review any dostmteat intended to memo,ialize this
transac1ior The pasties hereto waive any lability against Colliers International which may be incurred as a result of utilizing this fomi
www.colliersparrish.com
An Independent Member of Colliers International with Commercial Real Estate Offices throughout the Americas, Europe. Middle East, Asia Pacific and Africa
CPI Forms & Templates
1-020 (Rev. 07102104) age so
___________________
The undersigned Client has read and understood and hereby agrees to be bound by the foregoing.
BROKER: COLLIERS PARRISH INTERNATIONAI, INC. Client: City of Pinole Redevelopment Agency
By:
EdDeIB roSenior ananartner Date
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e b arom s: eth
Date
E-Mail: dperry @colliersparlish.com Its:
By: 46l.rt.3 Phone: Fax:
7 OD
,/Sonny -iak, Broker Date
E-Mail: sodrobinak colIiersparrish.com E-Mail:
Address for Notices: /15o Address for Notices: 21 3 P
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This form has been provided to you by Colliers International ivith Commercial Real Estate Oces throughout the Americas Europe, Asia Pacific and Africa, as a clerical service for the convenience of the pasties to this transactioo It
is not intended as a anbstitule for legal advice. It is not intended to provide legal advice. Colliers International strongly urges the parties to retain tegal counsel to prepare and/or review any document intended to memorialize this
transaction The pasties hereto waive any liability against Colliers tntesnational which may be incurred as a result of utilizing this form.
www.colliersparrish.com
An Independent Member of Colliers International wfth Commercial Real Estate Olfices throt.sghout the Americas, Europe, Middle East, Asia Pacific and Mtica
CPI Forms & Templates
1-020 (Rev. 07102/04) Page 6 of 4
