Registration and commission agreement for CB Commercial Real Estate, 1997

NYC 9/11 Public Portal Document

9. Owner has no objection and consents to Broker contacting the Owner's lender for purposes of obtaining said lender's guarantee of the payment of any commission that might be earned by Broker under this Agreement.

10. In the event Owner fails to make payments within the time limits set forth herein, then from the date due until paid the delinquent amount shall bear interest at the maximum rate permitted in the State of New York. If either party is required to institute legal action against the other for any dispute between Owner and Broker relating to this agreement, the Property or Owner or Broker's performance hereunder, the prevailing party shall be entitled to reasonable attorney's fees and costs.

11. Each signator to this agreement represents and warrants that it has full authority to sign this agreement on behalf of the party for whom he signs and that agreement binds such party.

12. This agreement constitutes the entire agreement between Owner and Broker and supersedes all prior discussions, negotiations and agreements, whether oral or written. No amendment, alteration, cancellation or withdrawal of this agreement shall be valid or binding unless made in writing and signed by both Owner and Broker. This agreement shall be binding upon, and shall benefit, the heirs, successors and assignees of the parties. 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 part, including without limitation, the commission obligations set forth in paragraphs (a), (b), (c), and (d) of Section 4, unless the purchaser of 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, a tenant under a ground lease and tenant of the Property wishing to effect a sublease, lease assignment, or lease cancellation. The term "tenant" as used herein shall be deemed to include any subtenant, or assignee of a tenant, and the term "lease" shall be deemed to include a sublease or lease assignment.

APPROVED THIS day of 19

OWNER:

BY:

TITLE:

BY:

TITLE:

Licensed Real Estate Broker

BY:

COMPANY:

TITLE:

DATE:

3/97 J:WAOI8ONlCUENTW»CUW3£NC*»UYOFF«MO\7WrC<»M.\M>O

HCB/MADISON COMMERCIAL Advisory Group

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