SCHEDULE OF COMMISSIONS
A. SALES, EXCHANGES AND JOINT VENTURES:
1. Unimproved Property: (acreage substantially lacking amenities necessary for urban development such as roads, utilities and zoning): 10% of the gross sales price
2. Improved Property: 6% of the gross sales price.
3. Exchange: Each party to the exchange shall pay a full commission in accordance with this Schedule, based upon the fair market values of the respective properties.
4. Joint Venture: If a joint venture is effected in lieu of a sale, a commission shall be paid based upon the fair market value of the property contributed.
5. Business Opportunity: 10% of the total consideration.
B. LEASES:
1. Gross Lease (where the Landlord pays for taxes, maintenance, and fire and extended coverage insurance):7% of the total base rental for the term of the lease.
2. Net Lease (where the Tenant is responsible for all or any portion of the real property taxes on the premises, to maintain the premises or any portion thereof, and/or responsible for all or any portion of the cost of fire and extended coverage insurance; rent is deemed not to include Tenant's share of such taxes, insurance or CAM charges):7% of the total base rental for the term of the lease.Ground Lease (where the Tenant is responsible for all of the real property taxes on the premises. Rent is deemed not to include Tenant's share of such taxes.):5% of the total base rental for the first 60 months in which rent is to be paid, plus2-1/2% of the rent for the second five years, plus1-1/2% of the rent for the balance of the term.
3. Build to Suit, New Construction, or Tenant Improvements: When a lease covered hereunder provided for or gives rise to a build to suit, new construction or tenant improvements costing in excess of $25,000.00, the commission rate for said lease during the first five years of the term shall be increased by 1/2% for each of five years.
4. Extension or Renewal of Lease or Additional Space Taken: Should the lease term be extended, the lease renewed or a new lease entered into between Landlord and Tenant upon expiration or termination of the original lease, or should the Tenant lease additional space from Landlord, then the regular leasing commission as computed from this Schedule shall be paid to the Broker at the time of such extension renewal, new lease and/or leasing additional space, using the commission rates applicable as if (notwithstanding the provisions of Paragraph B-8 of this Schedule) the initial term of the lease included such extension, renewal or new lease, or the premises originally leased had included such additional space.
5. Option to Purchase: Should the Tenant, his successor, nominee or assignee, purchase or enter into a contract to purchase the leased property or any portion thereof during the term of the lease, any renewals or extensions thereof or within 180 days after the expiration of the lease or of any renewals or extensions of the lease, then a sales commission shall be paid at such time as the purchase is consummated in accordance with paragraph C-1 hereof. Said sales commission shall be computed as set forth herein, less the amount of paid up lease commissions relating to that portion of the lease extending beyond the effective date of said purchase; provided, however, that there shall be no rebate in the event the sales commission be less than the paid-up lease commission.
6. Month to Month Tenancy: The commission shall be the greater of 50% of the first month's rent or $350.00.
7. Term of Twenty Five Years: If the initial lease term of any lease covered herein is in excess of twenty-five (25) years, then the commission for such initial term shall be calculated only upon the rental to be paid for the first twenty-five (25) years of said initial term.
C. PAYMENT OF COMMISSIONS:
1. Sales, Exchanges and Joint Ventures: Commissions shall be paid through Escrow upon the closing thereof and this signed Schedule shall constitute an irrevocable instruction to the Escrow to pay Broker upon close of Escrow the commissions due Broker in accordance with this Schedule; absent an Escrow, commissions shall be paid upon recordation of a deed; in the event of an installment sale contract, a commission shall be paid upon execution of the contract. If a joint venture agreement is effected in lieu of a sale, the commission shall be paid upon execution of the joint venture agreement.
2. Leases: Commissions shall be due and payable within five (5) days of the execution of a lease by Landlord and Tenant. Broker is hereby authorized to apply any funds held in its trust account on behalf of Landlord to the payment of its commission(s) hereunder; should said funds be less than the full commission(s) due Broker, then the Owner shall promptly pay the difference to Broker in accordance herewith.
3. Interest: Owner shall pay to Broker, in addition to commissions referenced herein, interest on any and all outstanding balances over sixty (60) days from due date herein specified at an annual percentage rate of fifteen (15%) percent calculated and billed monthly.
D. MISCELLANEOUS:
1. The term Owner when used herein and in the attached authorization or Proposal shall be deemed to mean and include where applicable the owner of the property, a landlord, or any tenant desiring to effect subleases.
2. This Schedule is binding on and shall inure to the benefit of the respective heirs, successors and assigns of the parties.
3. In the event of an action by Broker to recover a commission or other payment due it as a result of or arising out of this Schedule, or as a result of any facts based upon or involving this Schedule, the prevailing party shall be entitled to receive from the non-prevailing party or parties such prevailing party's attorney's fees, court costs, expert witness fees and other expenses related to such attempt to recover, including such fees, costs, expenses on appeal. Furthermore, in the event any commissions or other payments are due and owing hereunder to Broker and not promptly paid when due and owing, they shall, from the date of such default bear interest at the maximum non-usurious rate of interest to which the parties could contract in writing for the forbearance of money under Nevada and Federal law, on the date of such default.
4. This Schedule is for use only in transactions in which Coldwell Banker Commercial is involved and is not to be distributed to others.
The Undersigned Owner hereby acknowledges receipt of a copy of this Schedule and agrees to pay a commission(s) as provided herein.
Dated: Dated:
OWNER: BROKER: Coldwell Banker Commercial
By:______By:______
Charles Tyler Clay, Broker Owner
By:______
Address: Address: 294 E. Moana Lane, Suite 27
Reno, NV 89502
Telephone: ( Telephone: (775) 823-3354
(REV. 11/94) Page 1 of 3 Form 150