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14. In the event that the Property comes under the jurisdiction of a bankruptcy court, Owner shall immediately notify Broker of the
<br />same, and shall promptly take all steps necessary to obtain court approval of Broker's appointment, unless Broker shall elect to
<br />terminate this Agreement upon said notice.
<br />15. In the event that the Property becomes the subject of foreclosure proceedings prior to the expiration of this Agreement, then
<br />Broker may, in its sole and absolute discretion (i) suspend this Agreement until such time as Broker may elect, in its sole and
<br />absolute discretion, to reinstate this Agreement, or (ii) terminate this Agreement and be free to enter into a listing agreement with
<br />any receiver, the party initiating the foreclosure, the party purchasing the Property at a foreclosure sale, or any other person having
<br />an interest in the Property.
<br />17. In the event of any dispute between Owner and Broker relating to this Agreement, the Property or Owner or Broker's performance
<br />hereunder, Owner and Broker agree that such dispute may be resolved upon mutual agreement of the parties through alternative
<br />dispute resolution methods such as mediation or arbitration. However, neither party shall be obliged to agree to alternative dispute
<br />resolution and may pursue any remedy available at law or in equity to resolve a dispute. The prevailing party in any litigation
<br />arising from a dispute under this Agreementshall be entitled to recover its expenses, including the costs of litigation and
<br />reasonable attorneys' fees from the non - prevailing party. This Agreement shall be governed by the laws of the State of Texas.
<br />Venue for any dispute shall be in Hays County, Texas, or if in federal court, the United States District Court for the Western
<br />District of Texas, Austin Division.
<br />18. 19. Each signatory to this Agreement represents and warrants that (s)he has full authority to sign this Agreement on behalf of the
<br />party for whom (s)he signs and that this Agreement binds such party.
<br />20. This Agreement constitutes the entire agreement between Owner and Broker and supersedes all prior discussions, negotiations and
<br />agreements, whether oral or written. Owner and Broker each represent and warrant to the other that in entering into this
<br />Agreement, they are not relying upon any discussions, representations, understandings or agreements, other than the matters
<br />specifically stated herein. No amendment, alteration, cancellation or withdrawal of this Agreement shall be valid or binding unless
<br />made in writing and signed by both Owner and Broker. This Agreement shall be binding upon, and shall benefit, the heirs,
<br />successors, and assignees of the parties. In the event any clause, provision, paragraph or term of this Agreement shall be deemed
<br />to be unenforceable or void based on any controlling state or federal law, the remaining provisions hereof, and each part, shall
<br />remain unaffected and shall continue in full force and effect.
<br />21. The parties hereto agree to comply with all applicable federal, state and local laws, regulations, codes, ordinances and
<br />administrative orders having jurisdiction over the parties, property or the subject matter of this Agreement, including, but not
<br />limited to, the 1964 Civil Rights Act and all amendments thereto, the Foreign Investment In Real Property Tax Act, the
<br />Comprehensive Environmental Response Compensation and Liability Act, and The Americans With Disabilities Act. Owner and
<br />Broker agree that the Property will be offered in compliance with all applicable anti - discrimination laws. Notwithstanding
<br />anything to the contrary in this Agreement, Broker agrees that it shall be subject to and comply with the requirements of section
<br />253.014 of the Texas Local Government Code and other applicable laws and no actions taken contrary to such statute or laws
<br />shall be binding upon or enforceable against Owner.
<br />22. This firm is licensed and regulated by the Texas Real Estate Commission (TREC). TREC administers two recovery funds which
<br />may be used to satisfy judgments against inspectors and real estate licensees involving a violation of the law. Complaints or
<br />inquiries should be directed to the Texas Real Estate Commission, P.O. Box 12188, Austin, Texas 78711 -2188, (512) 465 -3960.
<br />23. Owner acknowledges having received, prior to the execution of this Agreement, a copy of TREC Form No. OP -K, "Information
<br />About Brokerage Services" from Broker.
<br />24. Broker has a right to claim a lien under the Texas Broker's and Appraiser's Lien on Commercial Real Estate Act, Texas Property
<br />Code, Section 62.001 et seq. The waiver of Broker's right to such lien, or a release given for the purpose of releasing Broker's
<br />lien before the commission is satisfied or forgiven, is void under Tex. Prop. Code § 62.022(a).
<br />8/2013
<br />Texas
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