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Real Estate Broker Services for Listing City-Owned Land for Sale or LeaseCity of Dubuque ITEM TITLE: SUMMARY: SUGGESTED DISPOSITION: Copyrighted April 6, 2020 Action Items # 7. Real Estate Broker Services for Listing City -Owned Land for Sale or Lease City Manager recommending approval of agreements for real estate broker services of Continental Realty & Investment, LTD to sell or lease City -owned land. RESOLUTION Approving Agreements for Real Estate Broker Services between the City of Dubuque, Iowa and Continental Realty & Investment, LTD for the sale or lease of City -owned properties Suggested Disposition: Receive and File; Adopt Resolution(s) ATTACHMENTS: Description Real Estate Broker Services for Listing City -Owned Land for Lease or Sale-MVM Memo Staff Memo List of Parcels Parcel Maps Listing Contract/RFP for Lease Only Listing Contract/RFP for Sale or Lease Agency and Dual Agency Disclosure Addendum to Listing Contract Resolution of Approval Type City Manager Memo Staff Memo Supporting Documentation Supporting Documentation Supporting Documentation Supporting Documentation Supporting Documentation Supporting Documentation Resolutions Masterpiece on the Mississippi Dubuque bitil All-A.aia City 111111 2007.2012.2013 2017*2019 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Real Estate Broker Services for Listing City -Owned Land for Sale or Lease DATE: March 31, 2020 Economic Development Director Jill Connors recommends City Council approval of agreements for real estate broker services of Continental Realty & Investment, LTD to sell or lease City -owned land. I concur with the recommendation and respectfully request Mayor and City Council approval. Mic ael C. Van Milligen MCVM:jh Attachment cc: Crenna Brumwell, City Attorney Teri Goodmann, Assistant City Manager Cori Burbach, Assistant City Manager Jill M. Connors, Economic Development Director Masterpiece on the Mississippi Dubuque Itter All -America City 11111,1 2007►2012*2013 2017*2019 Economic Development Department 1300 Main Street Dubuque, Iowa 52001-4763 Office (563) 589-4393 TTY (563) 690-6678 http://www.cityofdubuque.org TO: Michael C. Van Milligen, City Manager FROM: Jill M. Connors, Economic Development Director SUBJECT: Real Estate Broker Services for Listing City -Owned Land for Sale or Lease DATE: March 6, 2020 INTRODUCTION This memorandum presents for City Council approval agreements for real estate broker services of Continental Realty & Investment, LTD. to sell or lease City -owned land. BACKGROUND On May 6, 2019, the City Council approved the use of real estate broker services in exchange for a fee for any successful lease or sale transaction of City -owned properties. DISCUSSION Following approval to proceed from City Council, staff drafted an RFP, created maps of the identified City parcels to market, and discussed reasonable fees for brokerage services based on customary rates in the industry. Sixteen parcels will currently be offered for sale or lease. A list and maps of the parcels which will be offered are attached. Sample agreements for a sale RFP and a lease RFP are attached. We have worked with Bob Felderman at Continental Realty & Investment, LTD. to develop listing contracts that include the RFP, maps, and fee structure. Felderman will advertise the identified properties on a national database and bring offers to the City for sale or lease. Offers will be brought to City Council for approval. As Seller Agent, Felderman will receive a commission of 0.5% of the sale/lease price on a parcel, with the Buyer/Tenant Agent receiving a commission of 3.0%. If Felderman also represents the Buyer/Tenant, he would receive a total commission of 3.5% of the sale/lease price. RECOMMENDATION/ ACTION STEP I recommend adopting the attached resolution approving the engagement of Continental Realty & Investment, LTD as a broker for City -owned properties for sale or lease. 2 Prepared by: Barry A. Lindahl, Esq. 300 Main Street Suite 330, Dubuque IA 52001 563 583-4113 Return to: Barry A. Lindahl, Esq. 300 Main Street Suite 330, Dubuque IA 52001 563 583-4113 RESOLUTION NO. 119-20 APPROVING AGREEMENTS FOR REAL ESTATE BROKER SERVICES BETWEEN THE CITY OF DUBUQUE, IOWA AND CONTINENTAL REALTY & INVESTMENT, LTD. FOR THE SALE OR LEASE OF CITY -OWNED PROPERTIES Whereas, the City of Dubuque owns the real estate described in the attached list (the Properties); and Whereas, the City Council desires to offer the Properties for sale or lease; and Whereas, Continental Realty & Investment, LTD has proposed to provide broker services to the City for the sale or lease of the properties on the terms and conditions set forth in the attached Listing Contracts; and Whereas, the City Council finds that it would be in the best interests of the City of Dubuque to approve the attached Listing Contracts. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA: Section 1. The Listing Contracts are hereby approved. Section 2. The City Manager is authorized to take such actions as are necessary to offer the Properties for sale or lease, all such sales or leases being subject to approval of the City Council as required by law. Passed, approved and adopted this 16th day of March, 2020. Roy D. Bu , Mayor ATTEST: Kevin E- Firnstahl, City Clerk F:\Users\tsteckle\Lindahl\_Sale & Lease of City Property\ResolutionAprovingListingContracts_030620.docx 2020 List of City of Dubuque -owned Parcels for Sale/Lease Parcel Identification Number Locally Known As Sale or Lease 1118226002 1860 Hawthorne St — Former Bowling & Beyond Sale or Lease 1025434006 Former ABC Supply Building Sale or Lease 1030301002 DICW 6.5 acres Sale or Lease 1512326003 Tech Park 4.34 acres Sale or Lease 1512326001 Tech Park 5.12 acres Sale or Lease 1512376007 Tech Park 2.51 acres Sale or Lease 1119152005 E 16th St 1.96 acres Lease Only 1119152005 E 16th St 2.8 acres Lease Only 1025239001 Old Water Dept. Site Sale or Lease 1119252003 Peosta Channel Lease Only 1130153027 Port of Dubuque Lease Only 1130304001 South Port 3.49 acres Lease Only 1130306003 South Port 4.08 acres Lease Only 1130352001 South Port 1.25 acres Lease Only THE CITY OF DUB All Anefin� E 1u11r► Masterpiece on the Mississippi 2007.2012.2013 2017*2019 Men 0 0.00S.01 0.02 0.03 0.04 Miles % 'N Former Dubuque THE CITY OF All-kureabq DUB E 11 Masterpiece on the Mississippi 2007 2012 2013 2017*2019 @ pply Sale/Lease Available Land Parcels 0 0.0041008 0.016 0.024 0.032 Miles THE CITY OF DUB Dubuque 1111-Inereagly E 'Ip�i► 2007.2012.2013 Masterpiece on the Mississippi 2017.2019 1030301002 Available Land Parks Parcels 0 0.01 0.02 0.04 0.06 CHAVENELLE 0.08 Miles THE CITY OF DUB 1512326003 1512326011 5.12 ac 2.51 ac Dubuque trfirl ui bin n E ;LI11! 2007.2012.2013 1 Masterpiece 0n the Mississippi 2017*2019 Available Land Parks Parcels 0 0.02 0.04 0.08 0.12 0.16 Miles ff THE CITY OF DUB 1119152005 Dubuque mo n Am ui wnn ob E ;IIP' 2007.2012.2013 Masterpiece on the Mississippi 2017.20191 1119152005 Available Land Parks Parcels 0 0.01 0.02 0.04 0.06 0.08 Miles THE CITY OF DUB Dubuque E '1I11.► 2007.2012.2013 apartment Sale/Lease 1025239001 Available Land Parcels 0 0.0050.01 0.02 0.03 0.04 Mile: Masterpiece on the Mississippi 2017*2019 THE CITY OF Dubuque ii DUB E AI nnlib 2007.2012.2013 Masterpiece on the Mississippi 2017*2019 10 0 0.0075015 0.03 0.045 0.06 Miles THE CITY OF DUB Dubuque AII- lIth Gp E �����► Masterpiece on the Mississippi 2007.2012.2013 2017.2019 Lease Available Land Parks Parcels 0 0.005.01 0.02 0.03 0.04 Miles JONES pi*, THE CITY OF DUB E 11111! 2007.2012.2013 Masterpiece on the Mississippi 20v*2019 Dubuque Ittt�! AIFbceNn 64 j 1 i;: 0 0.0128.025 0.05 0.075 0.1 Miles \N A Available Land Parks Parcels MLS onotratare LISTING CONTRACT (RENT OR LEASE) This Listing Contract is to be used only for properties to be filed with ECIMLS, whose members are subject to the Bylaws and Rules & Regulations of ECIMLS, Inc. and the Bylaws of the East Central Iowa Association of REALTORS®, Inc. ECIAR 13 1 of 2 Pages RENT OR LEASE LISTING CONTRACT For and in consideration of the mutual agreements contained herein, the undersigned Lessor/Seller and Broker/Agent agree, as follows: (1)The Lessor/Seller City of Dubuque,Attn: Barry Lindahl, City Attorney hereby EXCLUSIVELY lists for rent, lease, sale or exchange with Continental Realty & Investment, LTD. Brokerage as sole and exclusive agent, the following described property: Address City State ZIP Legally described as, or parcel # Lessor/Seller warrants he/she has the legal right to rent, lease, sell exchange and convey the above described property. (2)Price Terms as agreed in writing (3)From to inclusive, and give possession as agreed in writing (4)Listing Broker/Agent agrees to use his/her best efforts to rent, lease or sell said property both by Multiple Listing and personal solicitation, and agrees to immediately forward this listing and any status changes/sales information to the East Central Iowa Multiple Listing Service, Inc. which shall, in turn, forward the listing information to all members of the East Central Iowa Multiple Listing Service, Inc. at no cost to the Lessor/Seller. (5)Lessor/Seller agrees to pay said Broker a commission of 0.5% to the Listing Broker and 3.0% to the tenant broker of the total lease amount at time of lease contract is in effect. for his/her services. The commission shall be payable whether the real estate is rented or leased, by the Broker, a buyer agent, by the Lessor/Seller, or any other person during the period of this contract or any extension thereof. In addition, Listing Broker is owed the commission upon presentation of an offer to rent or lease with the terms specified herein or, an offer to purchase the terms of which are acceptable to the Seller.. The commission shall also be paid if the property is rented, leased, conveyed, or otherwise transferred within 365 days after the expiration of this contract or any extension thereof to anyone with whom the Lessor/Seller, Broker, any of Broker's agents, or any Cooperating Broker negotiated, presented or personally exhibited by showing the property prior to final expiration, provided Lessor/Seller has received notice in writing, including the name and address of prospective tenants, before expiration of this contract or any extension thereof. However, Lessor/Seller shall not be obligated to pay the commission if a valid listing contract is entered into with another licensed real estate broker during the term of said protection period and the property is rented or leased during the term of said protection period. (6)If the Lessor/Seller decides to offer same property for sale during the term of this contract, this contract shall also serve as an EXCLUSIVE RIGHT TO SELL LISTING CONTRACT and Lessor/Seller agrees to pay Broker a commission the greater of 3.5 % (percent) of the sale price or $ for his/her services. (7)Lessor/Seller authorizes Broker to disburse part of the commission to other brokers, including a buyers' broker. The commission split is as follows: Cooperating Broker RENT OR LEASE 0.5% to listing broker, 3.0% to tenant broker. LESSOR/SELLER INITIALS LESSOR/SELLER INITIALS SALE N/A for his/her services. ECIAR 13 2 of 2 Pages Address City State ZIP (8)Lessor/Seller agrees to immediately refer to Broker all prospective tenants, purchasers or Brokers who contact Lessor/Seller for any reason and to provide Broker with their names and addresses. (9)The Lessor/Seller warrants and represents that no government agency has served any notice to Lessor/Seller requiring repairs, alterations or corrections of any existing conditions EXCEPT (if none state so) None (10)Equipment and Fixtures to be included in the property are: As Is. (11)Lessor/Seller permits use of: Keys®Yes['to; Lockbox®Yesialo; Yard Sign ®YesDNo; Internet®YesDNo interior photos ®Yes Qaro Lessor/Seller of real property is hereby informed that the Lockbox is not designed or intended as a security device. Lessor/Seller is responsible for notifying any tenants accordingly. (12) Authorize listing agent to inform other afzents with competing offers that there are multiple offers ®YES ❑ NO Virtual Office Website (VOW) — The following options are available if the Lessor/Seller so desires. Lessor/Seller: afadvises Brokerage that Lessor/Seller does not want the listed property to be displayed on any internet VOW: or bfladvises Brokerage that Lessor/Seller does not want the address of the listed property to be displayed on any VOW. Lessor/Seller understands and acknowledges that if option a. is selected, consumers who conduct searches for listings on the VOW will not see information about Lessor/Seller's listed property in their search results. (12)Remarks: Listing/Seller Agency commission is 0.5% of lease amount price (including any special funding or financing) for the term of contract and Buyer/Tenant Agency commission is 3.5% of the lease amount for term of the contract. NOTICE: Any notice required under this Contract shall be deemed delivered when it is received or provided either by hand delivery, facsimile, electronic communication or certified mail. IF A RENT/LEASE/PURCHASE CONTRACT IS ACCEPTED WITHIN THE PERIOD OF THE LISTING, THE TERMS OF THIS LISTING CONTRACT SHALL REMAIN ENFORCEABLE THROUGH SETTLEMENT. Lessor/Seller(s) request that Broker select prepare and complete form documents as authorized by Iowa law or rule. (Iowa Supreme Court Rule 118A3) THIS PROPERTY IS OFFERED WITHOUT REGARD TO RACE, COLOR, CREED, SEX, AGE, RELIGION, NATIONAL ORIGIN, MENTAL & PHYSICAL DISABILITY, GENDER IDENTITY, FAMILIAL STATUS OR SEXUAL ORIENTATION. IF THIS FORM IS USED FOR AN ILLINOIS TRANSACTION: IT INLCUDES ANCESTRY, AGE, MARITAL STATUS, AND ANY OTHER CLASS PROTECTED BY ARTICLE 3 OF THE ILLINOIS HUMAN RIGHTS ACT. THIS IS A LEGALLY BINDING CONTRACT. If not understood, consult with the lawyer of your choice. Lessor Print Name City of Dubuque, Attn: Barry Lindahl, Ciy Attorney (Date Lessor Date Print Name 50 W,. 13th St, Dubuque, IA 52001 Address City Phone5635834113 Lessor/Seller e-mail balesq@cityofdubuque.org Broker Office Continental Realty Agent Signature: Office Phone 5632130398 Agent e-mail: Robertfelderman@gmail.com ECIAR 13 4/18 State ZIP ©Copyright 2018 East Central Iowa Multiple Listing Service Inc. For Member Use Only %4 ? Q C r._ ECIAR 9 Page 1 of 3 Pages AGENCY/POLICY DISCLOSURE AND DUAL AGENCY POTENTIAL/CONSENT AGREEMENT REQUIRED TO BE PROVIDED TO EACH PARTY IN A TRANSACTION (Should be presented at earliest possible convenience - must be signed by Seller or Buyer prior to making or reviewing an Offer) When you enter into a discussion with a Brokerage (and their affiliated real estate licensees) regarding a real estate transaction, you should understand how the Brokerage is representing each party in the transaction. More importantly, you should understand how that agency relationship impacts your relationship with the licensee. The term "Broker" or "Brokerage" shall hereinafter refer to: (Brokerage/firm) Continental Realty & Investment, LTD. , and Brokerage's affiliated licensees (brokers and salespersons). The term "Seller" shall hereinafter refer to seller, landlord or optionor. The term "Buyer" shall hereinafter refer to buyer, tenant or optionee. A "Client" is a party to a transaction who has an agency agreement with a broker for brokerage services. A "Customer" means a consumer who is not being represented by a licensee but for whom the licensee may perform ministerial acts. A. TYPES OF AGENCY REPRESENTATION AND THE POLICY BROKERAGE MAY ELECT UNDER EACH. Prior to Buyer or Seller giving confidential information they should understand a variety of representation options exist in real estate transactions. Below are a list of representation options available and the policy Brokerage may elect in regard to each. Brokerage will provide a separate Agreement establishing which agency relationship is offered to Buyer or Seller. Brokerage has "checked" the appropriate box(es) for the policy that applies to Brokerage: 01. SELLER AGENCY. Single Seller Agency exists when Brokerage and Seller enter into a real estate "Exclusive Listing Agreement' and the property is sold to a "Customer" of a different real estate company. Brokerage and Broker's affiliated licensees' policy is to represent the Seller as a "Client" in this case. In Single Seller Agency, Broker does not also represent the Buyer in the transaction. 02. BUYER AGENCY. Single Buyer Agency exists when Brokerage and Buyer enter into a "Buyer Agency Agreement" and Brokerage or an affiliated licensee assist Buyer in writing an offer to purchase property and the property is listed with a different real estate company or offered by owner. Brokerage and Broker's affiliated licensees' policy is to represent Buyer as a "Client" in this case. In this type of agency representation Broker may receive compensation for the transaction from the listing real estate company pursuant to a cooperation agreement between the two companies. In Single Buyer Agency, Broker does not also represent the Seller in the transaction. 03. APPOINTED/DESIGNATED AGENCY. a. Appointed/Designated Seller Agency exists when Brokerage appoints/designates an affiliated licensee, the listing agent, to act on Seller's (Client's) behalf to the exclusion of all other affiliated licensees of Brokerage. b. Appointed/Designated Buyer Agency exists when Brokerage appoints/designates an affiliated licensee, the selling agent, to act on Buyer's (Client's) behalf to the exclusion of all other affiliated licensees of Brokerage. c. In the event an Appointed/Designated Licensee personally represents both Seller and Buyer in the same transaction, that Appointed/Designated Agency is considered to be a Consensual Dual Agency (see 4. below). 04. CONSENSUAL DUAL AGENCY. a. When Brokerage (or an Appointed Seller or Buyer Agent, as defined in 3a. and 3b. above) both lists and sells the property, it is the policy of Brokerage and Brokerage's affiliated salespersons to represent both Seller and Buyer as a Consensual Dual Agency. Under this circumstance, before signing an offer to buy or accepting an offer to buy, please see the "Dual Agency Consent Agreement" for detailed information as to the duties of Brokerage to Seller and Buyer, as well as procedures to be followed. b. When Brokerage and Buyer enter into a "Buyer Agency Agreement", whether exclusive or non-exclusive, and Brokerage or an affiliated salesperson assist Buyer in writing an offer to purchase property and the property is also listed with Brokerage, it is the policy of Brokerage to represent both the Seller and Buyer as a Consensual Dual Agency. Under this circumstance, before signing an offer to buy or accepting an offer to buy, please see the "Dual Agency Consent Agreement" for detailed information as to the duties of Brokerage to Seller and Buyer, as well as procedures to be followed. c. Representing more than one party to a transaction can create a conflict of interest since both "Clients" may rely on the Licensee's advice. Buyer and Seller are not required to consent to dual agency. 05. If not already in a written Agency Relationship with a brokerage, a person(s), partnership, or company (buying or selling) may represent themselves in a transaction. If a Buyer or Seller elects to represent themselves in a transaction, it is the policy of Brokerage to treat that Buyer or Seller as a "Customer" and not as a "Client". "Clients" are responsible for commission which may be owed as to the terms and conditions of previously agreed contracts. Under this circumstance, before signing an offer to buy or accepting an offer to buy, please see the "Self Representation Agreement" for detailed information as to the duties of Brokerage to Seller and Buyer, as well as procedures to be followed. B. DUTIES OF A REAL ESTATE LICENSEE TO ALL PARTIES TO THE TRANSACTION. In providing brokerage services to all parties to a transaction, "Client" and "Customer" alike, a licensee (the Brokerage and its broker associates And salespersons), regardless of the type of agency representation agreed to, shall do all of the following: 1. Provide brokerage services to all parties to the transaction honestly and in good faith. 2. Diligently exercise reasonable skill and care in providing brokerage services to all parties. 3. Disclose to each party all material adverse facts (i.e. significant defects or negative circumstances) that the licensee knows except: a. Material adverse facts known by the party. b. Material adverse facts the party could discover through a reasonably diligent inspection and which would be discovered by a reasonably prudent person under like or similar circumstances. c. Material adverse facts the disclosure of which is prohibited by law. d. Material adverse facts that are known to a person who conducts an inspection on behalf of the party. 4. Account for property coming into the possession of a licensee that belongs to any party within a reasonable time of receiving the property. AGENCY /POLICY DISCLOSURE AND DUAL AGENCY CONSENT AGREEMENT (Continued) Page 2 of 3 Pages C. DUTIES OF A REAL ESTATE LICENSEE TO A CLIENT. A licensee providing brokerage services to a client, regardless of the type of agency representation agreed to, shall do all of the following: 1 . Place the client's interests ahead of the interests of any other party, unless loyalty to a client violates the licensee's duties under provisions of the Iowa Code (such as with Appointed Agency or Consensual Dual Agency) or any other applicable law. 2. Disclose to the client all information known by the licensee that is material to the transaction and that is not known by the client or could not be discovered by the client through a reasonably diligent inspection. 3. Fulfill any obligation that is within the scope of this Agency Disclosure, except those obligations that are inconsistent with other duties that the licensee has under the Real Estate Brokers and Salespersons provisions of the Iowa Code or any other law. 4. Keep their client(s) confidential information confidential unless they have written permission to reveal. 5. Disclose to a client any financial interests the licensee or the brokerage has in any company or business entity to which the licensee or brokerage refers a client for any service or product related to the transaction. The client is not obligated to use any such recommended company, and may select a different company. NOTE: Broker/Licensee (circle applicable) has a financial interest in or an affiliate relationship with the following companies or business entities: None D. DESCRIPTION OF BROKER'S SERVICES. Broker may do the following for Sellers and Buyers: (1)Assist Buyer with financing qualification guidelines; (2)Provide helpful information about the property and area; (3)Respond accurately to questions about the property; (4)Disclose all material facts about the property that are known to Broker; (5) Disclose financial qualifications of the Buyer to the Seller; (6) Explain real estate terms and procedures; (7) Explain to Seller and Buyer the benefits of having the property inspected; (8) Explain closing costs and procedures; (9) Help the Seller and Buyer compare financing alternatives; (10) Provide information about comparable properties so Seller and Buyer may make an informed decision on what price to accept and/or offer; (1 1 )Assist with all standard forms, including those that include the necessary protection and disclosures for the Seller and Buyer; and, (12) Work diligently to facilitate the sale and closing. (13) Keep their client(s) confidential information confidential unless they have written permission to reveal. The preceding list of services is not intended to be all inclusive, nor will all services listed be necessary in every case. Licensees are not required to answer questions outside of the scope of their real estate license. NOTE: Broker neither offers sub agency to, nor accepts sub agency from, other brokerage companies. E. GUIDELINES FOR SELLER AND BUYER. If you are the "Customer" in the transaction, you are advised not to disclose your negotiating position about such things as whether you as Seller would take less than the asking price, or you as Buyer are willing to pay more than the price you offer. Except for information required to be disclosed, if you as either a "Client" or a "Customer", have reason to believe any confidential information, such as your financial status, motivation to sell or buy as well as other personal information will adversely affect your negotiating position, this should not be disclosed to anyone. Each party to the transaction has the responsibility to protect their own interests. ACKNOWLEDGEMENT The undersigned have read this disclosure and understand the type of representation which may be provided by Broker. The undersigned acknowledge receipt of a copy of this agency disclosure. This is not a contract; rather it is intended to be only a disclosure notice. Signing of the disclosure does not obligate you in any way. If you do not understand this document, seek the advice of the legal counsel of your choice, before signing. This document is not a Buyer Broker or Listing Agreement. Buyer Agent for Broker Dar Seller Sell( Date Date Date REQUEST TO COMPLETE FORM DOCUMENTS Buyer/Seller request that Broker select prepare and complete form documents as authorized by Iowa Law or Rule. Buyer Buyer )ate Seller Date Seller )ate Date Page 3 of 3 Pages AGENCY /POLICY DISCLOSURE AND DUAL AGENCY POTENTIAL/CONSENT AGREEMENT (Continued) DUAL AGENCY POTENTIAL/CONSENT AGREEMENT (For in-house showings/sales when Seller & Buyer are "clients") F. DUAL AGENCY POTENTIAL should be completed by Seller/Buyer to acknowledge the Potential for Dual Agency. This consent should be done before engaging in any activities of a dual agent. (i.e. Before showing any client's property or acquiring confidential information.) 1. DUAL AGENCY POTENTIAL. Seller, or Buyer acknowledge that in order for (Broker/Agent) Robert Felderman Listing(s) to be exposed to all Buyer clients of Brokerage, the potential for dual agency exists. Seller or Buyer understand that, in the process of searching for all property meeting the needs of Buyer, Buyer may want detailed information about, and to possibly see property of Seller clients of Brokerage, and therefore a potential for dual agency exists. Seller or Buyer acknowledges that when Brokerage presents detailed information or shows a Seller client's property to a Buyer client, that Brokerage is immediately a dual agent, undertaking a Consensual Dual Agency representation. Buyer (®agrees) (Ddoes not agree) to the Potential for Dual Agency representation. Seller (El agrees) (12does not agree) to the Potential for Dual Agency representation Buyer Buyer /ate: Seller )ate: ate: Seller te: If Brokerage becomes a Dual Agent for Property, Seller/Buyer shall need to read, confirm and agree to Dual Agency Consent for the Representation by completing PART G prior to any Offer for Real Estate. Brokerage and both the Buyer AND Seller acknowledge and Consent to Dual Agency prior to offer. G. DUAL AGENCY CONSENT Property Address City State: ZIP 1. The Seller and Buyer acknowledge that Broker is undertaking a Consensual Dual Agency representation in the sale of The above specific property. Seller and Buyer have previously been informed of the potential of a dual agency. 2. Termination of Negotiations or sale. In the event Seller and Buyer do not enter into an agreement for the purchase and sale of Seller's property to Buyer, or they do enter into an agreement and the sale does not close, the dual agency role of Broker under this Agreement shall be deemed by all parties to have been terminated. Broker will then become the agent of each, Seller and Buyer, on the terms and conditions previously agreed upon. I (we) have read and understand this agreement and acknowledge receipt of a copy. Buyer and Seller are each encouraged to consult with their own legal counsel. Buyer Buyei Buyer Agent ECIAR 9 Date: Seller Date: Selle Seller Agent. 2/10 © Copyright 2010 East Central Iowa Multiple Listing Service - For Member use Only 121 ® ECIAR 6A ADDENDUM TO LISTING CONTRACT (ATTACHED TO LISTING CONTRACT) Seller(s):City of Dubuque Address of Property: Address Date of Listing Contract: City State ZIP the undersigned Seller(s) hereby agree to the following:For any leases, the Lessor agrees to pay said Listing Broker a commission of 3.5% for the entire term of any lease or rent, with 0.5% to the Listing Agent and 3.0% to the Tenant Agent for their services. The commission shall be payable whether the real estate is rented or leased by the Broker, buyer/tenant agency, the Lessor/Seller, or any other person during the period of this contract or any extension thereof. In addition, Listing Broker is owed the commission upon presentation of an offer to rent or lease with the terms specified herein or, an offer to purchase the terms of which are acceptable to the Seller. The commission shall also be paid if the property is rented, leased, conveyed, or otherwise transferred within 365 days after the expiration of this contract or any extension thereof to anyone with whom the Lessor/Seller, Broker, any of Broker's agents, or any Cooperating Broker negotiated, presented or personally exhibited by showing the property prior to final expiration, provided Lessor/Seller has received notice in writing, including the name and address of prospective tenants, before expiration of this contract or any extension thereof. However, Lessor/Seller shall not be obligated to pay the commission if a valid listing contract is entered into with another licensed real estate broker during the term of said protection period and the property is rented or leased during the term of said protection period. The herein agreement, upon its execution, is herewith made an integral part of the aforementioned Listing Contract. All other contract terms are to remain the same. Seller Seller Agent Dat flat/ Date ECIAR 6A 12/18 Copyright © 2018 East Central Iowa Multiple Listing Services, Inc. For Member use Only REQUEST FOR PROPOSALS (RFP)/OFFERS TO LEASE CITY OF DUBUQUE REAL ESTATE The City of Dubuque (City) hereby requests proposals for the lease of real estate currently owned by the City of Dubuque, while listed for lease with Continental Realty & Investment, LTD, Robert Felderman, (Broker). I. Property Details. The property is described in Attachment A and in the East Central Iowa Multiple Listing Service listing. All information provided by City and/or Broker should be independently verified. II. Terms and Conditions of Lease. The lease of a parcel will be subject to, but not limited to, the following conditions: (1) Minimum Bid. City reserves the right to reject any proposal to purchase a parcel for an amount less than $ , without further notice to the Bidder/Tenant. (2) Opportunity for Inspection. City will allow a Bidder/Tenant to enter the property at the Bidder/Tenant own risk for the purposes of surveying, testing, inspecting, or investigating the property to determine if the property is suitable for the Bidder/Tenant purposes; provided, however, that the Bidder/Tenant must execute a Site Access Agreement and coordinate access to the property with City through the Broker. (2) Assumption of Responsibility for Inspection. The Bidder/Tenant will be responsible for approving all inspections, investigations, tests, surveys and other due diligence deemed necessary by the Bidder/Tenant in connection with the lease of the property, and City and/or Broker shall assume no responsibility to the Bidder/Tenant for the scope and approval of any such due diligence. (3) No Representations or Warranties from City and/or Broker. The Bidder/Tenant must enter into an agreement with the intention of relying upon its own investigation and review of the physical, environmental, economic use, compliance, and legal conditions of the property and the Bidder/Tenant must acknowledge that it is not now relying, and will not later rely, upon any representations and warranties made by City and/or Broker or anyone acting or claiming to act, by, through, under or on City and/or Broker behalf concerning the property. The Bidder/Tenant will review, prior to entering into an agreement with City, all items which in the Bidders/Tenants sole judgment affect or influence the Bidder's/Tenant's lease and use of the Property. Accordingly, the City will only agree to lease the Property in and on an "AS IS, WHERE IS, WITH ALL FAULTS" 013120 Addendum basis, and City and/or Broker will make no representations or warranties of any kind whatsoever, either express or implied, in connection with any matters with respect to the property. The Bidder/Tenant must be willing to accept the lease of the property on an "AS IS" and "WHERE IS" basis, with all faults and subject to any and all latent and patent defects, and, except as expressly set forth herein, without any representation or warranty, all of which City and/or Broker hereby disclaims. No warranty or representation will be made by City and/or Broker as to (a) fitness for any particular purpose, (b) merchantability, (c) design, (d) quality, (e) condition, (f) the operation of, or the income to be derived from, the property, (g) the feasibility or advisability of the Bidder's/Tenant's proposed redevelopment of the property. (h) absence of defects, (i) absence of hazardous or toxic substances, (j) absence of faults, (k) flooding, (I) compliance with laws and regulations including, without limitation, those relating to health, safety, and the environment, or (m) any other matter with respect to the property except as expressly set forth herein. In particular, by way of example but not of limitation, City and/or Broker will make no representations or warranties with respect to: the suitability of the property for any and all development activities and uses which the Bidder/Tenant may conduct thereon; the use or condition of the property, including, without limitation, the condition of the soils or groundwater of the property and the presence or absence of asbestos, lead -based paint, toxic materials or hazardous substances in, on or under the property; compliance with applicable statutes, laws, codes, ordinances, regulations or requirements relating to zoning, subdivision, planning, building, fire safety, health or environmental matters; compliance with covenants, conditions and restrictions, including deed restrictions; and compliance with other local, municipal, regional, state or federal requirements or other statutes, laws, codes, ordinances, regulations or requirements. (4) Release of City from Liability for Property Condition. The Bidder/Tenant, for itself and its agents, employees, affiliates, successors and assigns, must agree to release and forever discharge City, its officers, and employees, from any and all rights, claims and demands at law or in equity, whether known or unknown at the time of the execution of an agreement, which the Bidder/Tenant has or may have in the future, arising out of the physical or environmental condition of the property, including, without limitation, claims in tort or contract and claims for indemnification or contribution arising under the Comprehensive Environmental Response, Compensation, and Liability Act (42 U.S.C. Section 9601, et seq.) or to the extent allowable under any similar federal, state or local statute, rule or regulation now or hereafter in effect. The foregoing release will be set forth in the lease from the City. City reserves the right to impose other conditions on the lease of the property. III. Proposal or Lease Offer Requirements. Proposal or Lease Offers should include the following items: (1) Proposed Lease price; 2 (2) A description of the proposed use/reuse of the property; (3) Redevelopment budget; (4) Names, addresses, background, qualifications, experience and expertise of the Bidder/Tenant/Development team with similarly sized developments; (5) The name, address and telephone number of the contact person for the Bidder/Tenant; and (6) Explanation of the Bidder's/Tenant's history of completing and maintaining projects, including a minimum of two project references. IV. Submission. All Bidders/Tenants are encouraged to visit the property prior to submitting a proposal. The property will be available for a walk-through inspection, by appointment only. Contact the Listing Broker to coordinate with City (City of Dubuque Economic Development Department at 563-589-4393) to schedule an appointment. In addition, all information provided by City and/or Broker should be verified by the Bidder/Tenant before a proposal is submitted. All proposals or lease offers will be reviewed by City of Dubuque staff so a recommendation may be made to the Dubuque City Council. All information submitted may be used in the evaluation of a proposal. Four copies of each proposal and/or lease agreement should be submitted through Broker to the Economic Development Department, addressed as follows: Jill Connors Economic Development Director City Hall Annex 1300 Main Street Dubuque IA 52001 RE: Response to Request for Proposal or Lease Offers of Real Estate City reserves the right: (1) to cancel this RFP and/or ECIAMLS Listing Agreement at any time for any reason; (2) to accept or reject any and all proposals and (3) to request additional information prior to or upon the final selection of a Bidder/Tenant/Developer. In its selection of a proposal, City reserves the right to negotiate with any or all Bidders/Tenants including without limitation by negotiating all or portions of different proposals or by requesting additional offers from any or all Bidders/Tenants, and to waive requirements of the RFP if it is in the best interest of City to do so. 3 A proposal to lease the real estate will be subject to final approval by the City Council of the City of Dubuque of a Development Agreement as required by law. 4 ATTACHMENT A PROPERTY DETAILS 5 Dubuque THE CITY OF ( l \ IFIallone DUB E 20074012.2013 Masterpiece on the Mississippi 2017+2019 01.10irvimr LISTING CONTRACT (EXCLUSIVE RIGHT TO SELL) This Listing Contract is to be used only for properties to be filed with ECIMLS, whose members are subject to the Bylaws and Rules & Regulations of ECIMLS, Inc. and the Bylaws of the East Central Iowa Association of REALTORS®, Inc. ECIAR 11 1 of 2 Pages EXCLUSIVE RIGHT TO SELL LISTING CONTRACT For and in consideration of the mutual agreements contained herein, the undersigned Seller and Broker/Agent agree, as follows: (1)The Seller City of Dubuque, Attn: Barry Lindahl, City Attorney hereby EXCLUSIVELY lists for sale or exchange with Continental Realty Brokerage as sole and exclusive agent, the following described property: Dubuque, IA 52001 Address City State ZIP Legally described as, or parcel # To be added by addendum for each of many properties. Seller warrants he/she has the legal right to sell and convey the above described property. (2)Price Per Addendum Terms Cash, Financing, Other as agreed in writing (3)From to inclusive, and give possessionAs agreed in Writing, per addendum (4)Listing Broker/Agent agrees to use his/her best efforts to sell said property both by Multiple Listing and personal solicitation, and agrees to immediately forward this listing and any status changes/sales information to East Central Iowa Multiple Listing Service, Inc. which shall, in turn, forward the listing information to all members of the East Central Iowa Multiple Listing Service, Inc. at no cost to the Seller. (5)Seller agrees to pay said Broker a commission the greater of 3.5 % (percent) of the sale price or $ for his/her services. The commission shall be payable whether the real estate is sold or exchanged by the Broker, a buyer agent, by the Seller, or any other person during the period of this contract or any extension thereof. In addition, Listing Broker is owed the commission upon presentation of an offer to purchase with the terms specified herein or, an offer to purchase the terms of which are acceptable to Seller. The commission shall also be paid if the property is sold, conveyed, or otherwise transferred within 365 days after the expiration of this contract or any extension thereof to anyone with whom the Seller, Broker, any of Broker's agents, or any Cooperating Broker negotiated, presented or personally exhibited by showing the property prior to final expiration, provided Seller has received notice in writing, including the name and address of prospective purchasers, before expiration of this contract or any extension thereof. However, Seller shall not be obligated to pay the commission if a valid listing contract is entered into with another licensed real estate broker during the term of said protection period and the sale, lease or exchange of the property is made during the term of said protection period. (6) If the Seller decides to offer same property for rent during the term of this contract, this contract shall also serve as an EXCLUSIVE AGENCY RENTAL CONTRACT and Seller agrees to pay Broker a commission the greater of3.5 % (percent) of the RENTAL price or $as agreed in writing for his/her services. The Seller agrees that this property will not be leased during the term of this contract, unless the lease specifically provides that the property may be shown for sale at all reasonable hours. (7)Seller authorizes Broker to disburse part of the commission to other brokers, including a buyers' broker. The commission split is as follows: Cooperating Broker SALE3.0%/.5% LEASEN/A for his/her services. (8) Seller agrees to immediately refer to Broker all prospective purchasers or Brokers who contact Seller for any reason and to provide Broker with their names and addresses. (9)The Seller warrants and represents that no government agency has served any notice to Seller requiring repairs, alterations or corrections of any existing conditions EXCEPT (if none state so)none SELLER INITIALS J I SELLER INITIALS I I ECIAR 11 2 of 2 Pages Dubuque, IA 52001 Address City State ZIP (10)Seller agrees to provide a seller's disclosure or property condition report, lead based paint disclosure and radon disclosure if required with the listing, unless exempt by law. (Required for residential property one through four units) (11)Seller authorizes Listing Broker to use earnest funds forfeited by Buyer to pay transaction expenses (such as abstracting, legal fees and/or inspection costs) prior to providing balance of those funds to Seller. (12)Seller agrees to furnish buyer a warranty deed, or other deed deemed appropriate by buyer's attorney. (13)Seller permits use of: Keys QJ I es❑No; Lockbox ®Yes❑No; Yard Sign ®Yes aro; Internet ®Yes ❑No interior photos ®Yes❑No Seller of real property is hereby informed that the Lockbox is not designed or intended as a security device. Seller is responsible for notifying any tenants accordingly. Virtual Office Website (VOW) — The following options are available if the Seller so desires. Seller: a. ❑ advises Brokerage that Seller does not want the listed property to be displayed on any internet VOW: or b. ❑ advises Brokerage that Seller does not want the address of the listed property to be displayed on any VOW. Seller understands and acknowledges that if option a. is selected, consumers who conduct searches for listings on the VOW will not see information about Seller's listed property in their search results. (14)List any personal property included with the sale of the real estate:None unless written into offers. (15)Remarks: Listing/Seller Agency commission is 0.5% of sale price (including any special funding or financing), and Buyer Agency commission is 3.0% of the sale price. (16) ® Other form(s) attached (please list) (17)Multiple Offers: Authorize listing agent to inform agents with competing offers that there are multiple offers ®YESONO NOTICE: Any notice required under this Contract shall be deemed delivered when it is received or provided either by hand delivery, facsimile, electronic communication or certified mail. IF A PURCHASE/LEASE CONTRACT IS ACCEPTED WITHIN THE PERIOD OF THE LISTING, THE TERMS OF THIS LISTING CONTRACT SHALL REMAIN ENFORCEABLE THROUGH SETTLEMENT. REQUEST TO COMPLETE FORM DOCUMENTS Seller(s) request that Broker select prepare and complete form documents as authorized by Iowa law or rule. (Iowa Supreme Court Rule 118A.3) THIS PROPERTY IS OFFERED WITHOUT REGARD TO RACE, COLOR, CREED, SEX, AGE, RELIGION, NATIONAL ORIGIN, MENTAL & PHYSICAL DISABILITY, GENDER IDENTITY, FAMILIAL STATUS OR SEXUAL ORIENTATION. IF THIS FORM IS USED FOR AN ILLINOIS TRANSACTION: IT INLCUDES ANCESTRY, AGE, MARITAL STATUS, AND ANY OTHER CLASS PROTECTED BY ARTICLE 3 OF THE ILLINOIS HUMAN RIGHTS ACT. THIS IS A LEGALLY BINDING CONTRACT. If not understood, consult with the lawyer of your choice. Date Seller Print Name City of Dubuque, Attn: Barry Lindahl, as Attorney for City of Dubuque Seller Date Print Name 50 W. 13th Street, Dubuque, IA 52001 Address City PhoneS635834113 Seller e-mailbalesq@cityofdubuque.org State ZIP Broker Office Continental Realty Agent Signature; Office Phone5632130398 Agent e-mail:Robertfelderman@gmail.com ECIAR 11 4/18 ©Copyright 2018 East Central Iowa Multiple Listing Service Inc. For Member Use Only Cr ECIAR 9 Page I of 3 Pages AGENCY/POLICY DISCLOSURE AND DUAL AGENCY POTENTIAL/CONSENT AGREEMENT REQUIRED TO BE PROVIDED TO EACH PARTY IN A TRANSACTION (Should be presented at earliest possible convenience - must be signed by Seller or Buyer prior to making or reviewing an Offer) When you enter into a discussion with a Brokerage (and their affiliated real estate licensees) regarding a real estate transaction, you should understand how the Brokerage is representing each party in the transaction. More importantly, you should understand how that agency relationship impacts your relationship with the licensee. The term "Broker" or "Brokerage" shall hereinafter refer to: (Brokerage/firm) Continental Realty & Investment, LTD. , and Brokerage's affiliated licensees (brokers and salespersons). The term "Seller" shall hereinafter refer to seller, landlord or optionor. The term "Buyer" shall hereinafter refer to buyer, tenant or optionee. A "Client" is a party to a transaction who has an agency agreement with a broker for brokerage services. A "Customer" means a consumer who is not being represented by a licensee but for whom the licensee may perform ministerial acts. A. TYPES OF AGENCY REPRESENTATION AND THE POLICY BROKERAGE iv1AY ELECT UNDER EACH. Prior to Buyer or Seller giving confidential information they should understand a variety of representation options exist in real estate transactions. Below are a list of representation options available and the policy Brokerage may elect in regard to each. Brokerage will provide a separate Agreement establishing which agency relationship is offered to Buyer or Seller. Brokerage has "checked" the appropriate box(es) for the policy that applies to Brokerage: 01. SELLER AGENCY. Single Seller Agency exists when Brokerage and Seller enter into a real estate "Exclusive Listing Agreement' and the property is sold to a "Customer" of a different real estate company. Brokerage and Broker's affiliated licensees' policy is to represent the Seller as a "Client" in this case. In Single Seller Agency, Broker does not also represent the Buyer in the transaction. 02. BUYER AGENCY. Single Buyer Agency exists when Brokerage and Buyer enter into a "Buyer Agency Agreement" and Brokerage or an affiliated licensee assist Buyer in writing an offer to purchase property and the property is listed with a different real estate company or offered by owner. Brokerage and Broker's affiliated licensees' policy is to represent Buyer as a "Client" in this case. In this type of agency representation Broker may receive compensation for the transaction from the listing real estate company pursuant to a cooperation agreement between the two companies. In Single Buyer Agency, Broker does not also represent the Seller in the transaction. 03. APPOINTED/DESIGNATED AGENCY. a. Appointed/Designated Seller Agency exists when Brokerage appoints/designates an affiliated licensee. the listing agent, to act on Seller's (Client's) behalf to the exclusion of all other affiliated licensees of Brokerage. b. Appointed/Designated Buyer Agency exists when Brokerage appoints/designates an affiliated licensee, the selling agent, to act on Buyer's (Client's) behalf to the exclusion of all other affiliated licensees of Brokerage. c. In the event an Appointed/Designated Licensee personally represents both Seller and Buyer in the same transaction, that Appointed/Designated Agency is considered to be a Consensual Dual Agency (see 4. below). 04. CONSENSUAL DUAL AGENCY. a. When Brokerage (or an Appointed Seller or Buyer Agent, as defined in 3a. and 3b. above) both lists and sells the property, it is the policy of Brokerage and Brokerage's affiliated salespersons to represent both Seller and Buyer as a Consensual Dual Agency. Under this circumstance, before signing an offer to buy or accepting an offer to buy, please see the "Dual Agency Consent Agreement" for detailed information as to the duties of Brokerage to Seller and Buyer, as well as procedures to be followed. b. When Brokerage and Buyer enter into a "Buyer Agency Agreement", whether exclusive or non-exclusive, and Brokerage or an affiliated salesperson assist Buyer in writing an offer to purchase property and the property is also listed with Brokerage, it is the policy of Brokerage to represent both the Seller and Buyer as a Consensual Dual Agency. Under this circumstance, before signing an offer to buy or accepting an offer to buy, please see the "Dual Agency Consent Agreement" for detailed information as to the duties of Brokerage to Seller and Buyer, as well as procedures to be followed. c. Representing more than one party to a transaction can create a conflict of interest since both "Clients" may rely on the Licensee's advice. Buyer and Seller are not required to consent to dual agency. 05. If not already in a written Agency Relationship with a brokerage, a person(s), partnership, or company (buying or selling) may represent themselves in a transaction. If a Buyer or Seller elects to represent themselves in a transaction, it is the policy of Brokerage to treat that Buyer or Seller as a "Customer" and not as a "Client". "Clients" are responsible for commission which may be owed as to the terms and conditions of previously agreed contracts. Under this circumstance, before signing an offer to buy or accepting an offer to buy, please see the "Self Representation Agreement" for detailed information as to the duties of Brokerage to Seller and Buyer, as well as procedures to be followed. B. DUTIES OF A REAL ESTATE LICENSEE TO ALL PARTIES TO THE TRANSACTION. In providing brokerage services to all parties to a transaction, "Client" and "Customer" alike, a licensee (the Brokerage and its broker associates And salespersons), regardless of the type of agency representation agreed to, shall do all of the following: 1. Provide brokerage services to all parties to the transaction honestly and in good faith. 2. Diligently exercise reasonable skill and care in providing brokerage services to all parties. 3. Disclose to each party all material adverse facts (i.e. significant defects or negative circumstances) that the licensee knows except: a. Material adverse facts known by the party. b. Material adverse facts the party could discover through a reasonably diligent inspection and which would be discovered by a reasonably prudent person under like or similar circumstances. c. Material adverse facts the disclosure of which is prohibited by law. d. Material adverse facts that are known to a person who conducts an inspection on behalf of the party. 4. Account for property coming into the possession of a licensee that belongs to any party within a reasonable time of receiving the property. AGENCY /POLICY DISCLOSURE AND DUAL AGENCY CONSENT AGREEMENT (Continued) Page 2 of 3 Pages C. DUTIES OF A REAL ESTATE LICENSEE TO A CLIENT. A licensee providing brokerage services to a client, regardless of the type of agency representation agreed to, shall do all of the following: 1 . Place the client's interests ahead of the interests of any other party, unless loyalty to a client violates the licensee's duties under provisions of the Iowa Code (such as with Appointed Agency or Consensual Dual Agency) or any other applicable law. 2. Disclose to the client all information known by the licensee that is material to the transaction and that is not known by the client or could not be discovered by the client through a reasonably diligent inspection. 3. Fulfill any obligation that is within the scope of this Agency Disclosure, except those obligations that are inconsistent with other duties that the licensee has under the Real Estate Brokers and Salespersons provisions of the Iowa Code or any other law. 4. Keep their client(s) confidential information confidential unless they have written permission to reveal. 5. Disclose to a client any financial interests the licensee or the brokerage has in any company or business entity to which the licensee or brokerage refers a client for any service or product related to the transaction. The client is not obligated to use any such recommended company. and may select a different company. NOTE: Broker/Licensee (circle applicable) has a financial interest in or an affiliate relationship with the following companies or business entities: None D. DESCRIPTION OF BROKER'S SERVICES. Broker may do the following for Sellers and Buyers: (1)Assist Buyer with financing qualification guidelines; (2 )Provide helpful information about the property and area; (3)Respond accurately to questions about the property; (4)Disclose all material facts about the property that are known to Broker; (5) Disclose financial qualifications of the Buyer to the Seller; (6) Explain real estate terms and procedures; (7) Explain to Seller and Buyer the benefits of having the property inspected: (3) Explain closing costs and procedures; (9) Help the Seller and Buyer compare financing alternatives: (10) Provide information about comparable properties so Seller and Buyer may make an informed decision on what price to accept and, or offer; (1 ()Assist with all standard forms, including those that include the necessary protection and disclosures for the Seller and Buyer: and, (12) Work diligently to facilitate the sale and closing. (13) Keep their client(s) confidential information confidential unless they have written permission to reveal. The preceding list of services is not intended to be all inclusive, nor will all services listed be necessary in every case. Licensees are not required to answer questions outside of the scope of their real estate license. NOTE: Broker neither offers sub agency to, nor accepts sub agency from, other brokerage companies. E. GUIDELINES FOR SELLER AND BUYER. If you are the "Customer" in the transaction, you are advised not to disclose your negotiating position about such things as whether you as Seller would take less than the asking price, or you as Buyer are willing to pay more than the price you offer. Except for information required to be disclosed, if you as either a "Client" or a "Customer", have reason to believe any confidential information, such as your financial status, motivation to sell or buy as well as other personal infornation will adversely affect your negotiating position. this should not be disclosed to anyone. Each party to the transaction has the responsibility to protect their own interests. ACKNOWLEDGEMENT The undersigned have read this disclosure and understand the type of representation which may be provided by Broker. The undersigned acknowledge receipt of a copy of this agency disclosure. This is not a contract; rather it is intended to be only a disclosure notice. Signing of the disclosure does not obligate you in any way. If you do not understand this document, seek the advice of the legal counsel of your choice, before signing. This document is not a Buyer Broker or Listing Agreement. Buyer Buyer date Dat Seller Sells Agent for Broker Date Date Date REQUEST TO COMPLETE FORM DOCUMENTS Buyer/Seller request that Broker select prepare and complete form documents as authorized by Iowa Law or Rule. Buyet Buyer Jate Seller Date Seller date Date Buyer Buye Page 3 of 3 Pages AGENCY /POLICY DISCLOSURE AND DUAL AGENCY POTENTIAL/CONSENT AGREEMENT (Continued) DUAL AGENCY POTENTIAL/CONSENT AGREEMENT (For in-house showings/sales when Seller & Buyer are "clients") F. DUAL AGENCY POTENTIAL should be completed by Seller/Buyer to acknowledge the Potential for Dual Agency. This consent should be done before engaging in any activities of a dual agent. (i.e. Before showing any client's property or acquiring confidential information.) 1. DUAL AGENCY POTENTIAL. Seller, or Buyer acknowledge that in order for (Broker/Agent) Robert Felderman Listing(s) to be exposed to all Buyer clients of Brokerage, the potential for dual agency exists. Seller or Buyer understand that, in the process of searching for all property meeting the needs of Buyer, Buyer may want detailed information about, and to possibly see property of Seller clients of Brokerage, and therefore a potential for dual agency exists. Seiler or Buyer acknowledges that when Brokerage presents detailed information or shows a Seller client's property to a Buyer client, that Brokerage is immediately a dual agent, undertaking a Consensual Dual Agency representation. Buyer (0agrees) (El does not agree) to the Potential for Dual Agency representation. Seller (Dagrees) (Ddoes not agree) to the Potential for Dual Agency representation tate: Seller ate: te: )ate: Seller If Brokerage becomes a Dual Agent for Property, Seller/Buyer shall need to read, confirm and agree to Dual Agency Consent for the Representation by completing PART G prior to any Offer for Real Estate. Brokerage and both the Buyer AND Seller acknowledge and Consent to Dual Agency prior to offer. G. DUAL AGENCY CONSENT Property Address City State: ZIP 1. The Seller and Buyer acknowledge that Broker is undertaking a Consensual Dual Agency representation in the sale of The above specific property. Seller and Buyer have previously been informed of the potential of a dual agency. 2. Termination of Negotiations or sale. In the event Seller and Buyer do not enter into an agreement for the purchase and sale of Seller's property to Buyer, or they do enter into an agreement and the sale does not close, the dual agency role of Broker under this Agreement shall be deemed by all parties to have been terminated. Broker will then become the agent of each, Seller and Buyer, on the terms and conditions previously agreed upon. I (we) have read and understand this agreement and acknowledge receipt of a copy. Buyer and Seller are each encouraged to consult with their own legal counsel. Buyer Buyei Date: Date: Buyer Agent Seller Seller Seller Agent ECI.YR 9 2/10 © Copyright 2010 East Central Iowa Multiple Listing Service - For Member use Only ® ..... ��. ECIAR 6A ADDENDUM TO LISTING CONTRACT (ATTACHED TO LISTING CONTRACT) Seller(s):City of Dubuque Address of Property: Address Date of Listing Contract: City State ZIP the undersigned Seller(s) hereby agree to the following: For any leases, the Lessor agrees to pay said Listing Broker a commission of 3.5% for the entire term of any lease or rent, with 0.5% to the Listing Agent and 3.0% to the Tenant Agent for their services. The commission shall be payable whether the real estate is rented or leased by the Broker, buyer/tenant agency, the Lessor/Seller, or any other person during the period of this contract or any extension thereof. In addition, Listing Broker is owed the commission upon presentation of an offer to rent or lease with the terms specified herein or, an offer to purchase the terms of which are acceptable to the Seller. The commission shall also be paid if the property is rented, leased, conveyed, or otherwise transferred within 365 days after the expiration of this contract or any extension thereof to anyone with whom the Lessor/Seller, Broker, any of Broker's agents, or any Cooperating Broker negotiated, presented or personally exhibited by showing the property prior to final expiration, provided Lessor/Seller has received notice in writing, including the name and address of prospective tenants, before expiration of this contract or any extension thereof. However, Lessor/Seller shall not be obligated to pay the commission if a valid listing contract is entered into with another licensed real estate broker during the term of said protection period and the property is rented or leased during the term of said protection period. The herein agreement, upon its execution, is herewith made an integral part of the aforementioned Listing Contract. All other contract terms are to remain the same. Seller Selle� Agent ECIARI6A flat liar Date 12/18 Copyright © 2018 East Central Iowa Multiple Listing Services, Inc. For Member use Only REQUEST FOR PROPOSALS (RFP)/OFFERS FOR THE SALE OR LEASE OF CITY OF DUBUQUE REAL ESTATE The City of Dubuque (City) hereby requests proposals for the sale or lease and redevelopment of real estate currently owned by the City of Dubuque, while listed for sale or lease with Continental Realty & Investment, LTD, Robert Felderman, (Broker). 1. Property Details. The property is described in Attachment A and in the East Central Iowa Multiple Listing Service listing. All information provided by City and/or Broker should be independently verified. II. Terms and Conditions of Sale or Lease. The sale or lease of a parcel will be subject to, but not limited to, the following conditions: (1) Minimum Bid. City reserves the right to reject any proposal to purchase or lease a parcel for an amount less than $ , without further notice to the Bidder/Buyer. (2) Opportunity for Inspection. City will allow a Bidder/Buyer to enter the property at the Bidder's/Buyer's own risk for the purposes of surveying. testing, inspecting, or investigating the property to determine if the property is suitable for the Bidder's/Buyer's purposes; provided, however, that the Bidder/Buyer must execute a Site Access Agreement and coordinate access to the property with City and/or Broker. (2) Assumption of Responsibility for Inspection. The Bidder/Buyer will be responsible for approving all inspections, investigations, tests, surveys and other due diligence deemed necessary by the Bidder/Buyer in connection with the acquisition of the property, and City and/or Broker shall assume no responsibility to the Bidder/Buyer for the scope and approval of any such due diligence. (3) No Representations or Warranties from City and/or Broker. The Bidder/Buyer must enter into an agreement with the intention of relying upon its own investigation and review of the physical, environmental, economic use, compliance, and legal conditions of the property and the Bidder/Buyer must acknowledge that it is not now relying, and will not later rely, upon any representations and warranties made by City and/or Broker or anyone acting or claiming to act, by, through, under or on City and/or Broker behalf concerning the property. The Bidder/Buyer will review, prior to entering into an agreement with City, all items which in the Bidder's sole judgment affect or influence the Bidder's acquisition and use of the Property. Accordingly, the City will only agree to sell the Property in and on an "AS IS, WHERE IS, WITH ALL FAULTS" basis, and City 013120 Addendum and/or Broker will make no representations or warranties of any kind whatsoever, either express or implied, in connection with any matters with respect to the property. The Bidder/Buyer must be willing to accept the title to the property on an "AS IS" and "WHERE IS" basis, with all faults and subject to any and all latent and patent defects, and, except as expressly set forth herein, without any representation or warranty, all of which City and/or Broker hereby disclaims. No warranty or representation will be made by City and/or Broker as to (a) fitness for any particular purpose, (b) merchantability, (c) design, (d) quality, (e) condition, (f) the operation of, or the income to be derived from, the property, (g) the feasibility or advisability of the Bidder's proposed redevelopment of the property. (h) absence of defects, (i) absence of hazardous or toxic substances; (j) absence of faults, (k) flooding, (I) compliance with laws and regulations including, without limitation, those relating to health, safety, and the environment, or (m) any other matter with respect to the property except as expressly set forth herein. In particular, by way of example but not of limitation, City and/or Broker will make no representations or warranties with respect to: the suitability of the property for any and all development activities and uses which the Bidder/Buyer may conduct thereon; the use or condition of the property, including, without limitation, the condition of the soils or groundwater of the property and the presence or absence of asbestos, lead -based paint, toxic materials or hazardous substances in, on or under the property; compliance with applicable statutes, laws, codes, ordinances, regulations or requirements relating to zoning, subdivision, planning, building, fire safety, health or environmental matters; compliance with covenants, conditions and restrictions, including deed restrictions; and compliance with other local, municipal, regional, state or federal requirements or other statutes, laws, codes, ordinances, regulations or requirements. (4) Release of City from Liability for Property Condition. The Bidder/Buyer, for itself and its agents, employees, affiliates, successors and assigns, must agree to release and forever discharge City, its officers, and employees, from any and all rights, claims and demands at law or in equity, whether known or unknown at the time of the execution of an agreement, which the Bidder has or may have in the future, arising out of the physical or environmental condition of the property, including, without limitation, claims in tort or contract and claims for indemnification or contribution arising under the Comprehensive Environmental Response, Compensation, and Liability Act (42 U.S.C. Section 9601, et seq.) or to the extent allowable under any similar federal, state or local statute, rule or regulation now or hereafter in effect. The foregoing release will be set forth in the deed from the City. City reserves the right to impose other conditions on the sale or lease of the property. III. Proposal or Purchase Offer Requirements. Proposals or Purchase Offers should include the following items: (1) Proposed purchase price; 2 (2) A description of the proposed use/reuse of the property; (3) Redevelopment budget; (4) Names, addresses, background, qualifications, experience and expertise of the Bidder/Buyer/development team with similarly sized developments: (5) The name, address and telephone number of the contact person for the Bidder; and (6) Explanation of the Bidder's/Buyer's history of completing and maintaining projects, including a minimum of two project references. IV. Submission. All Bidders/Buyers are encouraged to visit the property prior to submitting a proposal. The property will be available for a walk-through inspection, by appointment only. Contact the Listing Broker to coordinate with City (City of Dubuque Economic Development Department at 563-589-4393) to schedule an appointment. In addition, all information provided by City and/or Broker should be verified by the Bidder before a proposal is submitted. All proposals or purchase offers will be reviewed by City of Dubuque staff so a recommendation may be made to the Dubuque City Council. All information submitted may be used in the evaluation of a proposal. Four copies of each proposal and/or purchase agreement should be submitted through Broker to the Economic Development Department, addressed as follows: Jill Connors Economic Development Director City Hall 50 West 13th Street Dubuque IA 52001 RE: Response to Request or Proposals or Purchase Offers for the Sale or Lease of Real Estate City reserves the right: (1) to cancel this RFP and/or ECIAMLS Listing Agreement at any time for any reason; (2) to accept or reject any and all proposals and (3) to request additional information prior to or upon the final selection of a purchaser/developer. In its selection of a proposal, City reserves the right to negotiate with any or all Bidders including without limitation by negotiating all or portions of different proposals or by requesting additional offers from any or all Bidders, and to waive requirements of the RFP if it is in the best interest of City to do so. A proposal will be subject to final approval by the City Council of the City of Dubuque of a Development Agreement as required by law. F. UserstsfeckieVLindaht'Agreements%to LISTING_AGREEMENT_ADDENDUM-REQUEST FOR PROPOSALS_SaIeOfCityOfDuouqueRealEstate_J11620bal.docx 4 ATTACHMENT A PROPERTY DETAILS 5 THE CITY OF DUB Masterpiece on the Mississippi Former Dubuque Leal In risge E 'I11I' 2007.2012.2013 2017+2019 0 0.004).008 Available Land Parcels 0 016 0.024 For `Sale/Lease___ 0.032 Miles ECIAR 9 Page 1 of 3 Pages AGENCY/POLICY DISCLOSURE AND DUAL AGENCY POTENTIAL/CONSENT AGREEMENT REQUIRED TO BE PROVIDED TO EACH PARTY IN A TRANSACTION (Should be presented at earliest possible convenience - must be signed by Seller or Buyer prior to making or reviewing an Offer) When you enter into a discussion with a Brokerage (and their affiliated real estate licensees) regarding a real estate transaction, you should understand how the Brokerage is representing each party in the transaction. More importantly, you should understand how that agency relationship impacts your relationship with the licensee. The term "Broker" or "Brokerage" shall hereinafter refer to: (Brokerage/firm) Continental Realty Dubuque , and Brokerage's affiliated licensees (brokers and salespersons). The term "Seller" shall hereinafter refer to seller, landlord or optionor. The term "Buyer" shall hereinafter refer to buyer, tenant or optionee. A "Client" is a party to a transaction who has an agency agreement with a broker for brokerage services. A "Customer" means a consumer who is not being represented by a licensee but for whom the licensee may perform ministerial acts. A. TYPES OF AGENCY REPRESENTATION AND THE POLICY BROKERAGE MAY ELECT UNDER EACH. Prior to Buyer or Seller giving confidential information they should understand a variety of representation options exist in real estate transactions. Below are a list of representation options available and the policy Brokerage may elect in regard to each. Brokerage will provide a separate Agreement establishing which agency relationship is offered to Buyer or Seller. Brokerage has "checked" the appropriate box(es) for the policy that applies to Brokerage: 01. SELLER AGENCY. Single Seller Agency exists when Brokerage and Seller enter into a real estate "Exclusive Listing Agreement' and the property is sold to a "Customer" of a different real estate company. Brokerage and Broker's affiliated licensees' policy is to represent the Seller as a "Client" in this case. In Single Seller Agency, Broker does not also represent the Buyer in the transaction. 0 2. BUYER AGENCY. Single Buyer Agency exists when Brokerage and Buyer enter into a "Buyer Agency Agreement" and Brokerage or an affiliated licensee assist Buyer in writing an offer to purchase property and the property is listed with a different real estate company or offered by owner. Brokerage and Broker's affiliated licensees' policy is to represent Buyer as a "Client" in this case. In this type of agency representation Broker may receive compensation for the transaction from the listing real estate company pursuant to a cooperation agreement between the two companies. In Single Buyer Agency, Broker does not also represent the Seller in the transaction. 03. APPOINTED/DESIGNATED AGENCY. a. Appointed/Designated Seller Agency exists when Brokerage appoints/designates an affiliated licensee, the listing agent, to act on Seller's (Client's) behalf to the exclusion of all other affiliated licensees of Brokerage. b. Appointed/Designated Buyer Agency exists when Brokerage appoints/designates an affiliated licensee, the selling agent, to act on Buyer's (Client's) behalf to the exclusion of all other affiliated licensees of Brokerage. c. In the event an Appointed/Designated Licensee personally represents both Seller and Buyer in the same transaction, that Appointed/Designated Agency is considered to be a Consensual Dual Agency (see 4. below). 04. CONSENSUAL DUAL AGENCY. a. When Brokerage (or an Appointed Seller or Buyer Agent, as defined in 3a. and 3b. above) both lists and sells the property, it is the policy of Brokerage and Brokerage's affiliated salespersons to represent both Seller and Buyer as a Consensual Dual Agency. Under this circumstance, before signing an offer to buy or accepting an offer to buy, please see the "Dual Agency Consent Agreement" for detailed information as to the duties of Brokerage to Seller and Buyer, as well as procedures to be followed. b. When Brokerage and Buyer enter into a "Buyer Agency Agreement", whether exclusive or non-exclusive, and Brokerage or an affiliated salesperson assist Buyer in writing an offer to purchase property and the property is also listed with Brokerage, it is the policy of Brokerage to represent both the Seller and Buyer as a Consensual Dual Agency. Under this circumstance, before signing an offer to buy or accepting an offer to buy, please see the "Dual Agency Consent Agreement" for detailed information as to the duties of Brokerage to Seller and Buyer, as well as procedures to be followed. c. Representing more than one party to a transaction can create a conflict of interest since both "Clients" may rely on the Licensee's advice. Buyer and Seller are not required to consent to dual agency. 0 5. If not already in a written Agency Relationship with a brokerage, a person(s), partnership, or company (buying or selling) may represent themselves in a transaction. If a Buyer or Seller elects to represent themselves in a transaction, it is the policy of Brokerage to treat that Buyer or Seller as a "Customer" and not as a "Client". "Clients" are responsible for commission which may be owed as to the terms and conditions of previously agreed contracts. Under this circumstance, before signing an offer to buy or accepting an offer to buy, please see the "Self Representation Agreement" for detailed information as to the duties of Brokerage to Seller and Buyer, as well as procedures to be followed. B. DUTIES OF A REAL ESTATE LICENSEE TO ALL PARTIES TO THE TRANSACTION. In providing brokerage services to all parties to a transaction, "Client" and "Customer" alike, a licensee (the Brokerage and its broker associates And salespersons), regardless of the type of agency representation agreed to, shall do all of the following: 1. Provide brokerage services to all parties to the transaction honestly and in good faith. 2. Diligently exercise reasonable skill and care in providing brokerage services to all parties. 3. Disclose to each party all material adverse facts (i.e. significant defects or negative circumstances) that the licensee knows except: a. Material adverse facts known by the party. b. Material adverse facts the party could discover through a reasonably diligent inspection and which would be discovered by a reasonably prudent person under like or similar circumstances. c. Material adverse facts the disclosure of which is prohibited by law. d. Material adverse facts that are known to a person who conducts an inspection on behalf of the party. 4. Account for property coming into the possession of a licensee that belongs to any party within a reasonable time of receiving the property. AGENCY /POLICY DISCLOSURE AND DUAL AGENCY CONSENT AGREEMENT (Continued) Page 2 of 3 Pages C. DUTIES OF A REAL ESTATE LICENSEE TO A CLIENT. A licensee providing brokerage services to a client, regardless of the type of agency representation agreed to, shall do all of the following: 1 . Place the client's interests ahead of the interests of any other party, unless loyalty to a client violates the licensee's duties under provisions of the Iowa Code (such as with Appointed Agency or Consensual Dual Agency) or any other applicable law. 2. Disclose to the client all information known by the licensee that is material to the transaction and that is not known by the client or could not be discovered by the client through a reasonably diligent inspection. 3. Fulfill any obligation that is within the scope of this Agency Disclosure, except those obligations that are inconsistent with other duties that the licensee has under the Real Estate Brokers and Salespersons provisions of the Iowa Code or any other law. 4. Keep their client(s) confidential information confidential unless they have written permission to reveal. 5. Disclose to a client any financial interests the licensee or the brokerage has in any company or business entity to which the licensee or brokerage refers a client for any service or product related to the transaction. The client is not obligated to use any such recommended company, and may select a different company. NOTE: Broker/Licensee (circle applicable) has a financial interest in or an affiliate relationship with the following companies or business entities: None D. DESCRIPTION OF BROKER'S SERVICES. Broker may do the following for Sellers and Buyers: (1)Assist Buyer with financing qualification guidelines; (2)Provide helpful information about the property and area; (3)Respond accurately to questions about the property; (4)Disclose all material facts about the property that are known to Broker; (5) Disclose financial qualifications of the Buyer to the Seller; (6) Explain real estate terms and procedures; (7) Explain to Seller and Buyer the benefits of having the property inspected; (8) Explain closing costs and procedures; (9) Help the Seller and Buyer compare financing alternatives; (10) Provide information about comparable properties so Seller and Buyer may make an informed decision on what price to accept and/or offer; (11)Assist with all standard forms, including those that include the necessary protection and disclosures for the Seller and Buyer; and, (12) Work diligently to facilitate the sale and closing. (13) Keep their client(s) confidential information confidential unless they have written permission to reveal. The preceding list of services is not intended to be all inclusive, nor will all services listed be necessary in every case. Licensees are not required to answer questions outside of the scope of their real estate license. NOTE: Broker neither offers sub agency to, nor accepts sub agency from, other brokerage companies. E. GUIDELINES FOR SELLER AND BUYER. If you are the "Customer" in the transaction, you are advised not to disclose your negotiating position about such things as whether you as Seller would take less than the asking price, or you as Buyer are willing to pay more than the price you offer. Except for information required to be disclosed, if you as either a "Client" or a "Customer", have reason to believe any confidential information, such as your financial status, motivation to sell or buy as well as other personal information will adversely affect your negotiating position, this should not be disclosed to anyone. Each party to the transaction has the responsibility to protect their own interests. ACKNOWLEDGEMENT The undersigned have read this disclosure and understand the type of representation which may be provided by Broker. The undersigned acknowledge receipt of a copy of this agency disclosure. This is not a contract; rather it is intended to be only a disclosure notice. Signing of the disclosure does not obligate you in any way. If you do not understand this document, seek the advice of the legal counsel of your choice, before signing. This document is not a Buyer Broker or Listing Agreement. Buyer Buyer Agent for Broker )ate Seller ate Seller )ate ate 'Date REQUEST TO COMPLETE FORM DOCUMENTS Buyer/Seller request that Broker select prepare and complete form documents as authorized by Iowa Law or Rule. Buyer Buyer )ate Date Seller Selle )ate ate Page 3 of 3 Pages AGENCY /POLICY DISCLOSURE AND DUAL AGENCY POTENTIAL/CONSENT AGREEMENT (Continued) DUAL AGENCY POTENTIAL/CONSENT AGREEMENT (For in-house showings/sales when Seller & Buyer are "clients") F. DUAL AGENCY POTENTIAL should be completed by Seller/Buyer to acknowledge the Potential for Dual Agency. This consent should be done before engaging in any activities of a dual agent. (i.e. Before showing any client's property or acquiring confidential information.) 1. DUAL AGENCY POTENTIAL. Seller, or Buyer acknowledge that in order for (Broker/Agent) Robert Felderman Listing(s) to be exposed to all Buyer clients of Brokerage, the potential for dual agency exists. Seller or Buyer understand that, in the process of searching for all property meeting the needs of Buyer, Buyer may want detailed information about, and to possibly see property of Seller clients of Brokerage, and therefore a potential for dual agency exists. Seller or Buyer acknowledges that when Brokerage presents detailed information or shows a Seller client's property to a Buyer client, that Brokerage is immediately a dual agent, undertaking a Consensual Dual Agency representation. Buyer (®I agrees) p does not agree) to the Potential for Dual Agency representation Seller (10agrees) (does not agree) to the Potential for Dual Agency representation. Buye Buye r r ate: ate: Selle Selle r r te: te: If Brokerage becomes a Dual Agent for Property, Seller/Buyer shall need to read, confirm and agree to Dual Agency Consent for the Representation by completing PART G prior to any Offer for Real Estate. Brokerage and both the Buyer AND Seller acknowledge and Consent to Dual Agency prior to offer. G. DUAL AGENCY CONSENT Property Address City State: ZIP 1. The Seller and Buyer acknowledge that Broker is undertaking a Consensual Dual Agency representation in the sale of The above specific property. Seller and Buyer have previously been informed of the potential of a dual agency. 2. Termination of Negotiations or sale. In the event Seller and Buyer do not enter into an agreement for the purchase and sale of Seller's property to Buyer, or they do enter into an agreement and the sale does not close, the dual agency role of Broker under this Agreement shall be deemed by all parties to have been terminated. Broker will then become the agent of each, Seller and Buyer, on the terms and conditions previously agreed upon. I (we) have read and understand this agreement and acknowledge receipt of a copy. Buyer and Seller are each encouraged to consult with their own legal counsel. Buye Buye r r ate: ate: Buyer Agent Selle Selle r r Selling Agent ECIAR 9 2/10 © Copyright 2010 East Central Iowa Multiple Listing Service - For Member use Only ECIAR 6A ADDENDUM TO LISTING CONTRACT (ATTACHED TO LISTING CONTRACT) Seller(s):City of Dubuque, Barry Lindahl, City Attorney Address of Property: Address Date of Listing Contract: City State ZIP the undersigned Seller(s) hereby agree to the following: For any leases, the City agrees to pay said Listing Broker a commission of 3.5% for up to 5-years of any lease or rent, and 3.5% for the sale of property, with 0.5% to the Listing Broker and 3.0% to the Tenant or Buyer Agent for their services. The selling/leasing commission shall be payable whether the real estate is rented or leased by the Listing Broker, a broker with buyer/tenant agency, or any other person during the period of this contract or any extension thereof. If the City is the procuring cause of the sale or lease, only the Listing Broker commission of 0.5% will be paid. In addition, Listing Broker is owed the 0.5% commission upon presentation of an offer to rent or lease with the terms specified herein or, an offer to purchase or lease the terms of which are acceptable to the City. The commission shall also be paid if the property is rented, leased, sold, conveyed, or otherwise transferred within 365 days after the expiration of this contract or any extension thereof to anyone with whom the Listing Broker, any of Broker's agents, or any Cooperating Broker negotiated, presented or personally exhibited by showing the property prior to final expiration, provided Lessor/Seller has received notice in writing, including the name and address of prospective tenants, before expiration of this contract or any extension thereof. However, Lessor/Seller shall not be obligated to pay the commission if a valid listing contract is entered into with another licensed real estate broker during the term of said protection period and the property is rented or leased during the term of said protection period. The herein agreement, upon its execution, is herewith made an integral part of the aforementioned Listing Contract. All other contract terms are to remain the same. Seller Dar Seller Dat Agent Date ECIAR 6A 12/18 Copyright © 2018 East Central Iowa Multiple Listing Services, Inc. For Member use Only