Res 2013-180/Approving a sales listing agreement with CBRE, Inc. for the sale of 32.61 acres of land known as the Leah Tract

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fit SCHEDULE OF SALE COMMISSIONS CBRE, INC. BROKERAGE AND MANAGEMENT LICENSED REAL ESTATE BROKER FOR PROPERTY AT: South IH -35 and Cottonwood Pkwy., San Marcos, Texas As to sales of unimproved /improved real property, Broker's commission shall be * *See attached Exhibit A ** of the gross sales price. Gross sales price shall include any and all consideration received or receivable, in whatever form, including but not limited to assumption or release of existing liabilities. The commission shall be paid when earned or at the close of escrow through escrow, or if there is no escrow, then upon recordation of the deed; provided, however, that if the transaction involves an installment contract, then payment shall be made upon execution of such contract. In the event Owner contributes or conveys the Property or any interest therein to a joint venture, partnership, or other business entity, the commission shall be calculated on the fair market value of the Property, less the value of the interest in the Property retained by or transferred to Owner, as the case may be, and shall be paid at the time of the contribution or transfer. If Owner is a partnership, corporation, or other business entity, and an interest in the partnership, corporation or other business entity is transferred, whether by merger, outright purchase or otherwise, in lieu of a sale of the Property, and applicable law does not prohibit the payment of a commission in connection with such sale or transfer, the commission shall be calculated on the fair market value of the Property, rather than the gross sales price, multiplied by the percentage of interest so transferred, and shall be paid at the time of the transfer. The provisions hereof are subject to the terms and provisions of any Exclusive Sales Listing Agreement, to which this Schedule may be attached and which is executed by the parties hereto. Owner hereby acknowledges receipt of a copy of this Schedule and agrees that it shall be binding upon its heirs, successors and assignees. In the event Owner sells or otherwise disposes of its interest in the Property, Owner shall remain liable for payment of the commissions provided for in this Schedule and any agreement of which it is a part, including, without limitation, the commission obligations set forth hereinabove, unless the purchaser or transferee assumes all of such obligations in writing. The term "Owner" as used herein shall be deemed to include the owner of the Property, a party under contract to acquire the Property. BROKER: CBRE, INC. Licensed Real � ttee Broker By: `'"' V' Name: Scott Senese Title: Senior Managing Director Address: 100 Congress Ave. Suite 500 Austin, TX 78701 Telephone: 512- 499 -4912 Date: i 2 OWNER: City of San Marcos, Texas By: Na : Jim se Title:City Manager Address: 630 East Hopkins, San Marcos Texas Telephone: Is 0 - q3"-` 06 Date: f 1D %C9' 1 -3 10/2011 Texas Page 1 of 1