Registration and commission agreement for CB Commercial Real Estate, 1997

NYC 9/11 Public Portal Document

CB COMMERCIAL REAL ESTATE GROUP, INC. REGISTRATION AND COMMISSION AGREEMENT

CB COMMERCIAL REAL ESTATE GROUP, INC. a Delaware Corporation ("Broker"), has procured THE CITY • OF NEW YORK ("Tenant") as a prospective tenant for the property situated in the City of New York, County of Manhattan, State of New York, is located and further described as Seven World Trade Center.

References herein to the property shall be understood to include any portions thereof.

1. It is expressly understood that this agreement will not be construed as a listing agreement.

2. The term of this Agreement shall be for a period commencing upon execution, and ending at midnight June 30, 1998. Owner further agrees that:

(a) if a lease/sublease is entered into with tenant during the term of this agreement, or

(b) if, within 120 days after the expiration of the term, the property or a portion thereof is leased/subleased to tenant, or if Owner enters into a contract with tenant to lease/sublease the property or a portion thereof, or if negotiations continue, resume or commence and thereafter continue leading to a lease/sublease with tenant, for the property or a portion thereof within said 120 day period, Owner shall pay Broker a commission in accordance with this Agreement.

3. Broker hereby discloses to Owner that Broker represents and is acting as the Agent of the Lessee /Buyer exclusively.

4. Commission Rate and Schedule. Commission shall be payable 100% upon execution of a lease by Owner and Tenant, in accordance with the following rate:

First year up to and including....5% of the total Sixth year up to and including .. 2.5% of the second year base rental Tenth year total base set forth rental set forth in the lease in the lease Third year or fraction thereof.... 3.5% of the Eleventh year and beyond ... 2% of the total base total base rental set forth rental set forth in the lease in the lease Fourth year up to and including .... 3% of the Fifth year total base rental set forth in the lease The above rates are subject to the following provisions:

a. Option(s) or Right(s) of First Refusal to Renew, Extend or Occupy Additional space: If a lease for which a commission is payable hereunder contains (I) an option(s) or rights) of first refusal to renew or extend and a lease term(s) is renewed or extended whether strictly in accordance with the terms of such option(s) or right(s) or otherwise and/or (ii) an option(s) or right(s) of first refusal to expand and a tenant occupies additional space whether strictly in accordance with the terms of such option(s) or right(s) or otherwise, then Owner shall pay a leasing commission in accordance with the provisions of this Schedule on the additional base rental to be paid, except that in the case of a renewal or extension, the commission shall be calculated at the rate applicable hereunder as if such renewal or extension period were included in the initial term of the lease. Said commission shall be earned and payable at the time the extended term commences or the additional space is occupied, as applicable. HCB/Madison COMMERCIAL Advisory Group

NYC-WTC_000170993