Agency to sell lots in subdivision.
This agreement entered into _________[date] between _________, a _________ corporation, (principal), and _________, doing business under the firm name of _________, not incorporated, (realty company), witness:
Principal is exclusive agent for the sale of lots in the subdivision known as _________ subdivision at _________; and
Realty company is organized to conduct a general real estate and brokerage business and desires to be appointed exclusive sales agent for a certain portion of the above-mentioned subdivision, all upon the terms and conditions set forth below.
Therefore, in consideration of mutual agreements contained below, it is agreed between the parties as follows:
1. Principal grants to realty company exclusive right to sell any or all of the unsold lots in that part of _________ subdivision at _________, which is bounded by _________ Avenue, _________ Road, _________ Street and _________ Avenue, such unsold lots being numbered as follows: _________.
Such right to sell is granted in accordance with provisions of the exclusive agreement of principal to sell such lots and such sales are to be made by realty company on the following terms and conditions.
2. All lots sold by realty company under the terms of this agreement, shall be sold at prices not less than those shown on the plat attached and made part of this agreement, and on the terms as shown on the plat, a new plat with higher prices to be used after _________[date], to be prepared by principal. In event that a _____% discount is allowed for cash, the commission as provided for to be paid to realty company is to be figured on the full sales price of such lot before the _____% discount is deducted. All contracts for the sale of the above lots which shall be sold by realty company shall be drawn up and prepared by principal upon its regular form of contract and such contracts of sale are to be signed by principal.
3. On all sales of above-mentioned lots made by realty company, it is to receive a commission, which commission shall be as follows: _________.
4. The term of this agreement shall commence on _________[date] and shall run for _________ months with agreement that in case realty company shall sell and turn in executed contracts covering not less than _________ of lots above mentioned during such period of _________ months, then the term of this agreement shall be extended for an additional thirty days and for successive periods of thirty days each, so long as during each of such thirty-day period realty company shall sell and deliver executed contracts covering the sale of not less than _________ of the above-mentioned lots. In case realty company shall not sell these _________ lots during the first _________ months' period or shall not sell at least _________ lots during each succeeding thirty-day period, then at the end of such period wherein realty company shall not sell these lots as above provided for, this agreement shall cease and terminate.
5. Realty company will not hire or interfere with any of the sales people that are now or may in the future be connected with principal and principal agrees not to interfere or hire any of the sales people connected with realty company.
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