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COREEXCLUSIVE SALES LISTING AGREEMENT (_TEXAS)
<br />CBRE, INC.
<br />BROKERAGE AND MANAGEMENT
<br />LICENSED REAL ESTATE BROKER
<br />I . In consideration of listing for sale the real property hereinafter described (the "Property ") by CBRE, Inc. ( "Broker ") and Broker's
<br />agreement to use commercially reasonable efforts to effect a sale of same, City of San Marcos, Texas ( "Owner ") hereby grants to
<br />Broker the exclusive right to list for sale the Property for a period commencing March 1, 2015 and ending midnight Feb 28, 2016
<br />(the "Term "), at a price of $3.00 /sq.ft. on +/- 32.61 (1,420,491.60 sq. ft.) gross acres or any other price and terms acceptable to
<br />Owner. The Property is situated in the City of San Marcos, County of Hays, State of Texas, and is further described as South IH-
<br />35 and Cottonwood Pkwy. References herein to the Property shall be understood to include portions of the Property.
<br />Subject to the requirements of Section 253.014 of the Texas Local Government Code, Owner agrees to pay Broker a sales
<br />commission in accordance with Broker's Schedule of Sale Commissions (the "Schedule "), a copy of which is executed by Owner,
<br />attached hereto and hereby made a part hereof. This commission shall be earned for services rendered, if, during the Term: (a) the
<br />Property is sold to a purchaser procured by Broker, Owner, or anyone else; (b) a purchaser is procured by Broker, Owner, or
<br />anvone else who is ready, willine and able to purchase the Propertv at a price and on terms aereeable to Owner, (c) Owner
<br />voluntarily removes the Property from the market; (d) Owner contributes or conveys the Property to a partnership, joint venture,
<br />or other business entity. Broker is authorized to cooperate with and to share its commission with other licensed real estate brokers,
<br />provided said broker(s) represents prospective purchasers. Payment to cooperating or outside brokers shall be per separate
<br />agreement between brokers.
<br />As used in this Agreement the tern "sale" shall include an exchange of the Property, joint venture and also the granting of an
<br />option to purchase the Property. Owner agrees that in the event such an option or joint venture is granted or entered into, Owner
<br />shall pay Broker a sales commission in accordance with the Schedule on the price paid for the option and for any extensions
<br />thereof. In the event Owner contributes or conveys the Property or any interest therein to a joint venture, partnership, or other
<br />business entity, the commission shall be calculated on the fair market value of the Property, less the value of the interest in the
<br />Property retained by or transferred to Owner, as the case may be, and shall be paid at the time of the contribution or transfer. This
<br />commission shall be paid upon receipt by Owner of any such payment(s). In the event such an option is exercised, whether during
<br />the Term or thereafter, Owner shall also pay Broker a sales commission on the gross sales price of the Property, in accordance
<br />with the Schedule. Notwithstanding the foregoing, to the extent that all or part of the price paid for the option or any extension
<br />thereof is applied to the sales price of the Property, then any commission previously paid by Owner to Broker on account of such
<br />option payment(s) shall be credited against the commission payable to Broker on account of the exercise of the option.
<br />Owner further agrees that Owner shall pay Broker a commission in accordance with the Schedule, if, within one hundred twenty
<br />(120) calendar days after the expiration or termination of the Term the Property is sold to, or Owner enters into a contract of sale
<br />of the Property with, or negotiations continue, resume or commence and thereafter continue leading to a sale of the Property to
<br />any person or entity (including his/her /its successors, assigns or affiliates) with whom Broker has negotiated (either directly or
<br />through another broker or agent) or to whom the Property has been submitted prior to the expiration or termination of the Term.
<br />Broker is authorized to continue negotiations with such persons or entities. Broker agrees to submit a list of such persons or
<br />entities to Owner no later than fifteen (15) calendar days following the expiration or termination of the Term, provided, however,
<br />that if a written offer has been submitted it shall not be necessary to include the offeror's name on the list.
<br />5. Commissions shall be payable hereunder when earned or at the earlier of closing of escrow, recordation of the deed, or taking of
<br />possession by the purchaser.
<br />6. Unless otherwise provided herein, the terms of sale shall be, at the option of the purchaser, either cash or cash to any existing
<br />loan. Anv offer may contain normal and customary contingencies such as those relating to the condition of the Property, title
<br />report, and timing of closing.
<br />%. Owner agrees to cooperate with Broker in bringing about a sale of the Property and to refer immediately to Broker all inquiries of
<br />anyone intPrPctPd in the PrnnPrty All neantiatinnc art- in he thrnnah Rrnkt-r RrnlcPr is nnthnrized to argent a rlenncit frnm anv
<br />prospective purchaser and to handle it in accordance with the instructions of the parties unless contrary to applicable law. Broker
<br />is exclusively authorized to advertise the Property and, exclusively, to place a sign(s) on the Property if, in Broker's opinion, such
<br />8/--- S
<br />Texas
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