12-21-2016 ADDITIONS Packet - Laserfiche WebLink

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1 AUTHORIZATION FOR EXCLUSIVE LISTING - SALE TRANSACTION City of Little Canada ("Owner") hereby appoints Avison Young – Michigan LLC, or its nominees, associates or affiliates (collectively “AY”) as its sole agent and grants to AY the exclusive right to sell the real property described below (“Property”). i. PROPERTY: Located at 53 South Owasso Boulevard West and 167 South Owasso Boulevard West in the city of Little Canada, County of Ramsey, State of Minnesota, as more particularly described in Exhibit “A” attached hereto and by reference incorporated herein, including all buildings and improvements thereon and all fixtures and appurtenances, (all of the foregoing being collectively referred to hereinafter as the “Property”). ii. LISTING PRICE: The Property shall be offered unpriced (the “Listing Price”) and shall be payable upon the following terms and conditions: Cash or conventional financing. The Owner is not obligated to accept any purchase agreement from AY until the terms of said purchase are approved by the Owner’s City Council. iii. TERM: The term of this Agreement begins on December 13th, 2016 and will end at midnight on December 12th, 2017. This agreement shall be cancellable by either party with 30 days’ notice. iv. SERVICES: AY will enlist the best efforts of its firm to secure a satisfactory purchaser(s) for the Property at a sales price to be determined by Owner and/or on such other terms as are acceptable to Owner in its sole discretion. If AY deems it necessary, AY will also solicit the cooperation of other licensed real estate brokers. AY will negotiate the terms of any sale on behalf of Owner and in Owner’s interest. v. AGENCY RELATIONSHIP DISCLOSURE: Unless subsequently modified in writing by both Owner and AY, by entering into this Agreement an exclusive agency relationship will exist between Owner as seller and AY as agent. AY designates Bruce Bahneman, and Matt Angleson, as Owner’s designated agents pursuant to this Agreement. AY reserves the right to substitute other qualified representatives for the above-referenced designated agent(s) upon written notice to Owner. vi. OWNER REFERRALS: Owner will refer to AY all inquiries and offerings received by Owner regarding the Property, and negotiations will be conducted solely by AY or under AY’s direction, subject to Owner's review and final approval. vii. ADVERTISING: Owner authorizes AY to advertise and to place signage on the Property. AY, at its expense, will provide its standard signage. Any additional advertising and promotion will be done at Owner’s expense pursuant to a program and budget agreed upon by Owner and AY and will identify AY as exclusive agent of Property. The Owner consents to the collection, use, and disclosure of information by the Brokerage for the purpose of listing and marketing the Property. viii. COMMISSION: If, during the term hereof, Owner sells all or any interest in the Property, Owner will pay to AY a commission in accordance with the attached Commission Schedule. Within 30 days after the end of the term, AY will provide to Owner a written list of prospective purchasers (the "List") to whom the Property was submitted (by AY, Owner or any third party) during the term. If a prospective purchaser, appearing on the List, enters into a purchase contract or option to purchase the Property within 180 days after the end of the term, and the purchase thereafter closes, Owner will pay a commission to AY as provided above. ix. OUTSIDE BROKERS: If AY recognizes an outside broker representing the purchaser in a transaction for which a commission is payable hereunder, AY will request such broker to agree to accept, as its compensation, the commission computed and payable in accordance with the annexed Schedule, and if such other broker so