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HomeMy WebLinkAbout00384C - INGRID BADDOUR REALTOR CRA SURPLUS PROPERTY BROKER Ingrid Baddour & Associates f ° EXCLUSIVE AUTHORIZATION AND RIGHT CRA Surplus Property Broker THIS IS INTEWDE BE A LEGALLY BINDING AGREEMENT - REAW AGREEMENT #384C CALIFOR,. ASSOCIATION OF REALTORS°D (C.A.R.) STANDARD t CM Signed, 6-3-98 1, EXCLUSIVE RIGHT TO SELL: Palm Springs Redevelopment Acrencv Ingrid Baddour and Associates ("Broker") the exclusive ano irrevocable right—commencing on June 3 , 1998 and expiring at 11.59 P.M. on December 3 , 1998 ("Listing Period") to sell or exchange the real property in the City of Palm Springs County of Riverside California, described as follows: See Attached Addendum ("Property"). 2. TERMS OF SALE: A. LIST PRICE: The listing price shall be See attached addendum B. PERSONAL PROPERTY: The following items of personal property are Included in the above price: None C. ADDITIONAL TERMS: Minimum commission per transaction $500.00 3. MULTIPLE LISTING SERVICE: Information about this listing X will, ❑will not, be provided to a multiple listing service ("MILS") of Broker's selection and the Property sale, price, terms, and financing will be provided to the MLS for publication, dissemination and use by persons and entities on terms approved by the MLS. Seller authorizes Broker to comply with all applicable MLS rules. 4, TITLE: Seller warrants that Seller and no other persons have title to the Property, except as follows: 5. COMPENSATION TO BROKER: Notice: The amount or rate of real estate commissions is not fixed by law. They are set by each Broker individually and may be negotiable between Seller and Broker. A. Seller agrees to pay to Broker as compensation for services, irrespective of agency relationships, ten percent of the listing price (or If a sales contract is entered into, of the sales price), or $ , AND or a minimum of $500. per transaction whichever is greater as follows: 1. If Broker, Seller, cooperating broker, or any other person, produces a buyer(s) who offers to purchase the Property on the above price and terms, or on any price and terms acceptable to Seller during the Listing Period, or any extension, 2. If within ISO calendar days after expiration of the Listing Period or any extension, the Property is sold, conveyed, leased, or otherwise transferred to anyone with whom Broker or a cooperating broker has had negotiations, provided that Broker gives Seller, prior to or within 5 (or ❑ ) days after expiration of the Listing Period or any extension, a written notice including the name(s) of the prospective purchaser(s). This section shall not apply if Seller enters Into a valid listing agreement with another licensed real estate broker after the final termination of this Agreement; 3. If the Property is withdrawn from sale, conveyed, leased, rented, otherwise transferred, or made unmarketable by a voluntary act of Seller, without Broker's consent, prior to expiration of the Listing Period, or any extension; 4. If completion of the sale Is prevented by default of Seller; 5. If completion of the sale is prevented by a party to the transaction other than Seller, then only if and when Seller collects damages by suit, settlement, or otherwise, and then in an amount equal to one-half of the damages recovered, not to exceed the above compensation, after first deducting title and escrow expenses and the expenses of collection, if any: B. In addition, Seller agrees to pay: C. Broker is authorized to cooperate with other brokers, and divide with other brokers the above compensation in any manner acceptable to Broker; D. Seller hereby irrevocably assigns to Broker the above compensation from Seller's funds and proceeds in escrow. 6, AGENCY RELATIONSHIPS: Broker shall act as the agent for Seller in any resulting transaction. Depending upon the circumstances, It may be necessary or appropriate for Broker to act as an agent for both Seller and buyer, exchange party, or one or more additional parties (''Buyer'). Broker shall, as soon as practicable, disclose to Seller any election to act as a dual agent representing both Seller and Buyer If a Buyer is procured directly by Broker or an associate licensee in Broker's firm, Seller hereby consents to Broker acting as a dual agent for Seller and such Buyer. In the event of an exchange, Seller hereby consents to Broker collecting compensation from additional parties for services rendered, provided there is disclosure to all parties of such agency and compensation. Seller understands that Broker may have or obtain listings on other properties, and that potential buyers may consider, make offers on, or purchase through Broker property the same as or similar to Seller's Property. Seller consents to Broker's representation of sellers and buyers of other properties before, during, and after the expiration of this Agreement 7. BROKER'S AND SELLER'S DUTIES: Broker agrees to exercise reasonable effort and due diligence to achieve the purposes of this Agreement, and Is authorized to advertise and market the Property in any medium selected by Broker. Seller agrees to consider offers presented by Broker, and to act In good faith toward accomplishing the sale of the Property. Seller further agrees to Indemnify and hold Broker harmless from all claims, disputes, litigation, and/or Judgments arising from any Incorrect information supplied by Seller, whether contalned in any document, omitted therefrom, or otherwise, or from any material facts which Seller knows but fails to c ose. Broker and Seller ac o e ri c t of copy of this page,which consti s Page 1 of 2 Pages, Seller's Initlals _} ) Broker's Initials ) ( ) 1HIS STANDARDIZED DOCUMENT HAS BEEN APPROVED By THE LIFORNIA ASSOCIATION OF REALTORS-(C A.R) I FO M N NO REPRESENTATION IS MADE AS TO THE APPROVAL OF THE FORM OF ANY SUPPLEMENTS NOT CURRENTLY PUBUSHED BY C A R OR THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVIS IN ANY SPECIFIC TRANSACTION.IT SHOULD NOT BE USED WITH EXTENSIVE RIDERS OR ADDITIONS A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE TRANSAOTIONS IF YOU DESIRE LEGAL OR TAX ADVICE,CONSULT AN APPROPR E PROFES NAL. The copyright law,of the United Slues(17 Us Code)lorbd the vneulhorved OFFICE USE ONLY r1�'w`T' reprdtluctlpn of this form by any meant including lecsimlle or compuler¢otl lormels ` Zi o9m a " iw�l Reviewed by Broker or Designee 13 f�o�,, r CApynghM 1993-1999,CALIFORNIA ASSOCIATION OF REALTORS' 2503144-0063 525 Soulh Virgil Manus,Loa Angeles,Cel,lornla 9W20 Date 06-03-1966 1o0nl x°um¢ REVISED l)98 F,le;PSCITY ppYaRm9uY EXCLUSIVE AUTHORIZATION AND RIGHT TO SELL (A-14 PAGE 1 OF 2) Property,Address: See Attached Addenda 8. DEPOSIT: Broker is authorized to accept and hold on Seller's behalf a deposit to be applied toward the sales price. 9. LOCKBOX: A LOCKBOX is designed to hold a key to the Property to permit access to the Property by Broker, cooperating brokers, MLS participants, their authorized licensees and representatives ("lockbox users''), and accompanied prospective buyers. Broker, cooperating brokers, MLS and Association/Board of REALTORSGI are not insurers against theft, loss, vandalism, or damage attributed to the use of a LOCKBOX. Seller Is advised to verify the existence of, or obtain, appropriate insurance through Seller's own insurance broker. If Seller does not occupy the Property, Si shall be responsible for obtaining occupant(s)' written permission for use of a LOCKBOX. Seller authorizes Broker to i tall a LOCKBOA (inuial) YES L_/_j NO ( 10. SIGN: Seller authorizes Broker to install a FOR SALE/SOLD sign on the property: (whar) YES L_/ NO L_/_) 11. MEDIATION OF DISPUTES: Broker and Seller agree to mediate any dispute or claim arising bet n t ern out of this contract or any resulting transaction before resorting to arbitration or court action. Mediation fees, if any, shall be divided equally among the parties involved. IF ANY PARTY COMMENCES AN ARBITRATION OR COURT ACTION BASED ON A DISPUTE OR CLAIM TO WHICH THIS PARAGRAPH APPLIES WITHOUT FIRST ATTEMPTING TO RESOLVE THE MATTER THROUGH MEDIATION, THEN IN THE DISCRETION OF THE ARBITRATOR(S) OR JUDGE, THAT PARTY SHALL NOT BE ENTITLED TO RECOVER ATTORNEY'S FEES, EVEN IF THEY WOULD OTHERWISE BE AVAILABLE TO THAT PARTY IN ANY SUCH ARBITRATION OR COURT ACTION. This mediation provision applies whether or not the Arbitration of Disputes provision is initialed. Exclusions are listed in paragraph 13. 12. ARBITRATION OF DISPUTES (If initialed by Broker and Seller): Any dispute or claim in law or equity arising between Broker and Seller out of this contract or any resulting transaction, which is not settled through mediation, shall be decided by neutral, binding arbitration. The arbitration shall be conducted in accordance with Part III, Title 9 of the California Code of Civil Procedure. Judgment upon the award of the arbitrator(s) may be entered in any court having jurisdiction. The parties shall have the right to discovery in accordance with Code of Civil Procedure §1283.05. Exclusions are listed in paragraph 13. "NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT OF THE MATTERS INCLUDED IN THE `ARBITRATION OF DISPUTES' PROVISION DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE `ARBITRATION OF DISPUTES' PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY." "WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION TO NEUTRAL ARBITRATION." Broker's Initials / Seller's Initials 13. EXCLUSIONS FROM MEDIATION AND ARBITRATION; The following matters are excluded from mediation and arbitration hereunder: (a) judicial or non-judicial foreclosure or other action or proceeding to enforce a deed of trust, mortgage, or installment land sale contract as defined in Civil Code §2985; (b) an unlawful detainer action; (c) the filing or enforcement of a mechanic's lien; (d) any matter which is within the jurisdiction of a probate or small claims court; and (e) an action for bodily injury or wrongful death, or for latent or patent defects to which Code of Civil Procedure §337.1 or §337.15 applies. The filing of a court action to enable the recording of a notice of pending action, for order of attachment, receivership, Injunction, or other provisional remedies, shall not constitute a violation of the Mediation of Disputes and Arbitration of Disputes provisions. 14. EQUAL HOUSING OPPORTUNITY: The Property is offered for sale in compliance with federal, state, and local anti-discrimination laws. 15. ATTORNEY'S FEES: In any action, proceeding, or arbitration arising out of this Agreement, involving Seller and/or Broker(s), the prevailing party shall be entitled to reasonable attorney's fees and costs, except as provided in paragraph 11. 16. ENTIRE CONTRACT: All prior discussions, negotiations, and agreements between the parties concerning the subject matter of this Agreement are superseded by this Agreement, which constitutes the entire contract and a complete and exclusive expression of their agreement with respect to its general subject matter, and may not be contradicted by evidence of any prior agreement or contemporaneous oral agreement. This Agreement and any supplement, addendum, or modification, including any photocopy or facsimile, may be executed in counterparts. Seller warrants that Seller is the owner of the Property or has the authority to execute this contract. Seller acknowledges that Seller has read and understands this Agreement, and has received a copy. Pz�xl Date 1. , 1998 P 1 SiDrinas , California Telephone 323-&24,6 Fax Seller Address Seller City Palm Springs State CA Zip 92262 Date June 3 1998 at Palm springs California Telephone 322-9032 Fax 327-4549 Broker (Firm) rid Baddour & Associates Address 1401 N. Palm Canyon Dr. #200 By (AgenC� /l!OLULIQ �Slc�♦�Pn��(/pLn/r City/MANAGER Springs State CA Zip 92262 This form Is available for use by the entire real estate industry The use APPROVED BY Y�V EE CIT I �,III�'4�NAGER of In,s form,s nol,olended In identify the user es e REALTOR-. © _� OFFICE USE ONLY REALTOR°Is a reg,slered collective membership mark which may bely ZtPccmrMXC" usetl only by members of the NATIONAL ASSOCIATION OF Reviewed by Broker or Designee' sr fires sn"" REALTORSO who subscribe to a Code of Ethics. 25oa144'OOg8a2 Page 2 of 2 Pages. Date i PSCITY eeaoei USING EXCLUSIVE AUTHORIZATION AND RIGHT TO SELL (A-14 PAGE 2 OF 2)