3.0. EDSR 05-27-1997 \ '' \\ PURCHASE AGREEMENT
This form approved by the Minnesota Association of
REALTORS.which disclaims any liability arising out
of use or misuse of this form.
41111 1. Date 5'- v20 _9 7
2. Page 1 of `o Pages
3. RECEIVED OF die///4 i .. . . - 4 /are , I N A-iv /DSC 7-7-/E4. /_=,4k 2/4/& /
5. the sum of _///4 //4/NpZcD Dollars($-S-434°'O a )
6. by eitiM ASH-NOTE as earnest money to be deposited upon acceptance of Purchase Agreement by all parties, on or
(circle one)
7. before the next business day after acceptance, in the trust account of listing broker but to be returned to Buyer if Purchase
8. Agreement is not accepted by Seller. Said earnest money is part payment for the purchase of the property located at:
9. Street Address: XJx 7NTXls7,Z/.4l Zii'L .
10. City of Fmk Jiiii € County of</-i feRs7?N4- , State of Minnesota,
11. Legally described as: -.41)7--..•1" '4 1< / 1-7--Lk X'/IF/2 ZA,Di/S7 044.4 P=4 RK
12.
13. including the following property, if any, owned by Seller and used and located on said property: garden bulbs, plants, shrubs, and
14. trees; storm sash, storm doors, screens and awnings; window shades, blinds,traverse and curtain and drapery rods; attached lighting
15. fixtures and bulbs; plumbing fixtures, water heater, heating plants (with any burners, tanks, stokers and other equipment used in
16. connection therewith), built-in air conditioning equipment, electronic air filter, Water Softener OWNED/RENTED/NONE built-in humidifier
(crcte one)
17. and dehumidifier, liquid gas tank and controls (if the property of Seller), sump pump; attached television antenna, cable TV jacks
18. and wiring; BUILT-INS: dishwashers, garbage disposals, trash compactors, ovens, cook top stoves, microwave ovens, hood fans,
19. intercom's; ATTACHED: carpeting; mirrors; garage door openers and all controls; smoke detectors; fireplace screens, doors and
20. heatilators; AND:the following personal property:
21.
22.
all of which property Seller has this day agreed to sell to Buyer for sum of: ($S f X'Y/ i i�F 7 Ht 4S,4 iV i )
�o.04 2Dollars,
2 . which Bu er agrees to pay in the following manner: Earnest money of$_,SDO,D d
26. and$ byi_5'4 d cash on AA,4/ D' , /' 97 , the date of closing, and
27. the balance of$ / by financing in accordance with the attached addendum:
28. Conventional FHA VA Assumption Contract for Deed Purchase Money Mortgage Other: C/,5�/
(cede all that appty)
29.This Purchase Agreement IS/ NOT -ubject to a Contingency Addendum. (If answer is IS,see attached addendum.)
-(dr a one)
30.This Purchase Agreement IS/ S NO subject to cancellation of a previously written Purchase Agreement dated .
-(Code one)-
31. Buyer has been made aware of the availability of property inspections. Buy elect have a property inspection performed
32.at Buyer's expense. - leone)-
33.This Purchase Agreement Si,. subject to an Inspection Addendum. (If answer is IS, see attached addendum.)
34.Attached are other addenda which are made a part of this Purchase Agreement. (Enter page or pages on line 2)
35. DEED/MARKETABLE TITLE: Upon performance by Buyer, Seller shall deliver a �E_NEX'G Warranty Deed
36.joined in by spouse, if any, conveying marketable title,subject to:
•
37.(A) Building and zoning laws, ordinances, state and federal regulations; (B) Restrictions relating to use or improvement of the property
38.without effective forfeiture provisions;(C)Reservation of any mineral rights by the State of Minnesota;(D)Utility and drainage easements which
39.do not interfere with existing improvements; (E) Rights of tenants as follows(unless specified, not subject to tenancies):
40. -_
41. (F)Others(Must be specified in writing):
SPECIAL ASSESSMENTS shall be paid as follows:
:
UYER AND SELLER SHALL PRORATE AS OF THE DATE OF CLOSING//SELLER SHALL PAY ON DATE OF CLOSING)installments
(circle one)
44. of special assessments certified for payment with the real estate taxes due and payable in the year of closing.
45. BUYER SHALL ASSUME/ LLER SHALL PAY n date of closing all other special assessments levied as of the date of this Agreement
(cede one)
46. BUYER SHALL ASSUME/�ER SHALL PROVIDE FOR PAYMENT OF pecial assessments pending as of the date of this Agreement
47. for improvements that have been ordered by the City Council or other assessing authorities. (Seller's provision for payment shall be by
48. payment into escrow of two(2)times the estimated amount of the assessments,or less as required by Buyer's lender.)
49. BUYER SHALL ASSUME ELLER SHALL PAY)n date of closing any deferred real estate taxes (i.e. Green Acres, etc.) or special
(code one,'
50. assessments payment of which is required as a result of the closing of this sale. Buyer shall pay real estate taxes due and payable in
51.the year following closing and thereafter and any unpaid special assessments payable therewith and thereafter,the payment of which is
52. not otherwise provided.As of the date of this Agreement,Seller represents that Seller HASS IsA___129eceived a notice of hearing for a
(circle one)
53. new public improvement project from any governmental assessing authority,the costs of which project may be assessed against the property. If a
54. notice of pending spe i.l - sessment is issued after the date of this Agreement and on or before the date of closing, Buyer shall assume
55. payment of ALL NONE OTHER: of any such special assessments, and Seller shall provide for
56. payment on date of closin NONE/OTHER: of any such special assessments. If such special
(circle one)
57. assessments or escrow amounts for said special assessments as required by Buyer's lender shall exceed $ Al ,4 ,
58. Seller and Buyer Initial: Seller(s) Date Buyer(s) Date
59. MN:PA-1 (8/96)
• 1
PURCHASE AGREEMENT
60. Page 2
•
61. then either party may agree in writing on or before the date of closing to assume, pay or provide for the payment of such excess. In
62. the absence of such agreement,either party may declare this Purchase Agreement null and void;the parties shall immediately sign a
63. cancellation of Purchase Agreement and all earnest money paid hereunder shall be refunded to Buyer. -
64. TITLE &, EXAMINATION: Seller shall, at Seller's option, within a reasonable time after acceptance of
65. this Agreement, provide evidence of title in the form of either (1) a commitment for an owner's policy of title
66. insurance in the amount of the purchase price on a current ALTA form issued by an insurer licensed to write titleJnsurarice in
67. Minnesota; or (2) an abstract of title or a registered property abstract certified to date. Evidence of title shall include proper
68. searches covering bankruptcies, state and federal judgements and liens, and levied and pending Special Assessments.
69. Seller shall (1) pay the entire premium for such title • insurance policy if - no lender's policy is
70. obtained, and only the additional cost of obtaining a simultaneously issued owner's policy if a lender's policy
71. is obtained (Buyer shall pay the premium for the lender's policy);or (2) pay all costs of providing the abstract.
72. If Seller provides a commitment for an owner's policy of title insurance, Seller shall surrender any abstract
73. in Seller's possession or control to Buyer at closing.
74. Seller shall use Seller's best efforts to provide marketable title by the date of closing. In the event Seller has not provided
75. marketable title by the date of closing, Seller shall have an additional 30 days to make title marketable or, in the alternative, Buyer
76. may waive title defects by written notice to the Seller. In addition to the 30 day extension, Buyer and Seller may by mutual agreement
77. further extend the closing date. Lacking such extension, either party may declare this Purchase Agreement null and void; neither
78. party shall be liable for damages hereunder to the other and earnest money shall be refunded to Buyer; Buyer and Seller shall
79. immediately sign a cancellation of Purchase Agreement.
• . .. . ,
, ,
80. SUBDIVISION OF LAND: If this sale constitutes or requires a subdivision of land owned by Seller, Seller shall pay all.subdivision
81. expenses and obtain all necessary governmental approvals. Seller warrants the legal description of the real property to be
82. conveyed has been or will be approved for recording as of the date of closing.
•
83. Seller warrants that the buildings are or will be constructed entirely within the boundary lines of the property. Seller warrants that
84. there is a right of access to the property from a public right of way. These warranties shall survive the_delivery of the deed or contract for deed.
85. Seller warrants that prior to the closing, payment in full will have been made for all labor, materials. machinery,
86. fixtures or tools furnished within the 120 days immediately preceding the closinQri-connection with construction.
- "'
87. alteration or repair of any structure on or improvement to the property.
88. Seller warrants that Seller has not received any notice from any governmental authority as to violation of any law. ordinance or
89. regulation. If the property is subject to restrictive covenants, Seller warrants that Seller has not received any notice from any person
90. or authority as to a breach of the covenants.Any notices received by Seller will be provided to Buyer immediately.
91. Seller agrees to allow reasonable access to the property for performance of any surveys or inspections agreed to herein.
92. RISK OF LOSS: If there is any loss or damage to the property between the date hereof and the date of closing, for any reason
•93. including_fire,,vandalism, flood, earthquake or act'of God, the risk of loss shall be on Seller. If the property is destroyed or
94. substantially damaged before the closing date, this Purchase Agreement shall become null and void, at Buyer's option, and earnest
95. money shall be refunded to Buyer; Buyer and Seller shall immediately sign a cancellation of Purchase Agreement.
96. TIME OF ESSENCE: Time is of the essence in this,Purchase Agreement. - --
97. ENTIRE AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda or amendments signed by the parties,
98. shall constitute the entire agreement between Seller and Buyer. and supercedes any other written or oral agreements between
99. Seller and Buyer. This Purchase Agreement can be modified only in writing'signed by Seller and Buyer.
100. ACCEPTANCE: Buyer.understands and agrees that this Purchase Agreement is subject to acceptance by Seller in writing. The
101.delivery of all papers and monies shall be made at the listing broker's office.
102.DEFAULT: If Buyer defaults in any of the agreements herein, Seller may terminate this Purchase Agreement,and payments made
103.hereunder may be retained by Seller as liquidated damages. If this Purchase Agreement is not so terminated, Buyer or Seller may
104.seek actual damages for breach of this Agreement or specific performance of this Agreement;and, as`to specific performance, such
105.action must be commenced within six months after such right of action arises.
.Pojf,
PURCHASE AGREEMENT
----\/-
106. Address XXX r/VD (S1 44.. ./ 1/r.) .
III1 107. Page 3 Date ...5"-.../.4o-q7.
108. REAL ESTATE TAXES shall be paid as follows:
109. Buyer shall pay •RORATED FROM DAY OF CLOSING 1 THS,ALL,NONE real estate taxes due and payable in the year 19 YT .
- .ne
110. Seller shall pay, RORTEDTO DAY OF CLOSIN -12T ALL,NONE real estate taxes due and payable in the year 19 I/ . If the
(circle one)
111. closing date is changed,the real estate taxes paid sha ' prorated,be adjusted to the new closing date. Seller warrants taxes due and
112. payable in the year 19 A/A will be FULL-PAR -homestead classification. If part or non-homestead classification is circled.
-(circle one
113. Seller agrees to pay Buyer at closing$ 4/
A-
114. toward the non-homestead real estate taxes. Buyer agrees to pay any remaining balance of non-homestead taxes when they become
115.due and payable.No representations are made concerning the amount of subsequent real estate taxes.
116. POSSESSION: Seller shall deliver possession of the property not later than IDA-y d 1: Lb2S/N a after closing.
• 117. All interest,homeowner association dues,rents,fuel oil,liquid petroleum gas and all charges for city water,city sewer,electricity,and natural
118. gas shall be prorated between the parties as of date of closing. Seller agrees to remove ALL DEBRIS AND ALL PERSONAL PROPERTY
119. NOT INCLUDED HEREIN from the property by possession date.
120. ENVIRONMENTAL CONCERNS:To the best of the Sellers knowledge there are no hazardous substances,or underground storageeanks,except
121. herein noted:
122.
3. SELLER WARRANTS THAT THE PROPERTY IS DIRECTLY CONNECTED TO:CITY SEWER ❑YES❑NO CITY WATE-G ES 0 NO
12'. SELLER/BUYER AGREES TO PROVIDE WATER QUALITY TEST RESULTS IF REQUIRED BY GOVERNING AUTHORI • D/OR LENDER.
(circle one)-
125. SEL R/BUYER AGREES TO PROVIDE SEPTIC SYSTEM CERTIFICATION IF REQUIRED BY GOVERNING A IP"ORITY AND/OR LENDER.
-(circ- •ne)-
• 126. SELLER W•--ANTS THAT CENTRAL AIR CONDITIONING,HEATING,PLUMBING AND WIRING S " EMS USED AND LOCATED ON
127. SAID PROPER ILL BE IN WORKING ORDER ON DATE OF CLOSING.EXCEPT AS NOTE• THIS AGREEMENT.
128. BUYER HAS THE R e -T TO A WALK-THROUGH REVIEW OF THE PROPERTY PRI•- 0 CLOSING TO ESTABLISH THAT THE
129. PROPERTY IS IN SUBS TIALLY THE SAME CONDITION AS OF THE DAT- •F PURCHASE AGREEMENT.
)(
130. BUYER ACKNOWLEDGES THAT NO ORA - PRESENTATIONS HAV : EN MADE REGARDING POSSIBLE PROBLEMS OF WATER
131. IN BASEMENT, OR DAMAGE CAUSED BY 1• R OR ICE B D-UP ON ROOF OF THE PROPERTY AND BUYER RELIES
132. SOLELY IN THAT REGARD ON THE FOLLOWING STA , EN = SELLER:
133. SELLER HAS/HAS NOT HAD A WET BASEMENT,AND •S/ - NOT HAD ROOF,WALL OR CEILING DAMAGE CAUSED BY WATER
-(circle one)- -(circle one
134. OR ICE BUILD-UP. BUYER HAS/HAS NOT REC- ED A SELLER'S PR•- RTY DISCLOSURE STATEMENT. t
-(circle one)-
135. BUYER HAS RECEIVED THE INSPECTIO• 'EPORTS,IF REQUIRED BY MUNICI•• ITY.
136. BUYER HAS RECEIVED THE WELL • .CLOSURE STATEMENT OR A STATEMENT T • NO WELL EXISTS ON THE PROPERTY,
137. AND A SEPTIC SYSTEM DISCLO i RE STATEMENT OR A STATEMENT THAT NO SEPTIC STEM EXISTS ON OR SERVES THE
138. PROPERTY,AS REQUIRED : INNESOTA STATUTES.
139. I ACKNOWLEDG HAT I HAVE RECEIVED AND HAD THE OPPORTUNITY TO REVIEW THE ARBIT• • ION DISCLOSURE AND
140. RESIDENTIA 'EAL PROPERTY ARBITRATION AGREEMENT.
141. SELL `(S) BUYER(S)
1• . SELLER(S) BUYER(S)
143. DUAL AGENCY REPRESENTATION
gli• 144. DUAL AGENCY REPRESENTATIO •OES'•OES NOT APPLY IN THIS TRANSACTION.
- circle one)-
145. Broker represents both the Seller(s)and the Buyer(s)of the property involved in this transaction,which creates a dual agency.This
146. means that Broker and its salespersons owe fiduciary duties to both Seller(s)and Buyer(s).Because the parties may have conflicting
147. interests,Broker and its salespersons are prohibited from advocating exclusively for either party.Broker cannot act as a dual agent in this
148. transaction without the consent of both Seller(s)and Buyer(s).Seller(s)and Buyer(s)acknowledge that:
149. (1) confidential information communicated to Broker which regards price,terms,or motivation to buy or sell will remain confidential
150. unless Seller(s)or Buyer(s)instructs Broker in writing to disclose this information.Other information will be shared;
151. (2) Broker and its salespersons will not represent the interest of either party to the detriment of the other;and
152. (3) within the limits of dual agency,Broker and its salespersons will work diligently to facilitate the mechanics of the sale.
153. With the knowledge and understanding of the explanation above,Seller(s)and Buyer(s)authorize and instruct Broker and its salespersons
154. to act as dual agents in this transaction.
155.
Seller Buyer
156.
Seller Buyer
157.
Date Date
I
PURCHASE AGREEMENT
• 158.Address IXA XNDI/-Srie/14L ,62'41/(�
159.Page 4 Date -5.-.D
160. OTHER:
161.
162. I,the owner of the property,accept this Agreement and authorize I agree to purchase the property for the price and in accordance
163. the listing broker to withdraw said property from the market, with the terms and conditions set forth above and I have reviewed
164. unless instructed otherwise in writing and I have reviewed all all pages of this Purchase Agreement.
165. pages of this Purchase Agreement.
166. X X
(Seller's Signature) (Date) (Buyer's Signature) (Date)
167. X X
(Seller's Printed Name) (Buyer's Printed Name)
168. X X
(Social Security Number) (Marital Status) (Social Security Number) (Marital Status)
• 169. X X
(Seller's Signature) (Date) (Buyer's Signature) (Date)
•
170. X X
(Seller's Printed Name) (Buyer's Printed Name)
171. X X
(Social Security Number) (Marital Status) (Social Security Number) (Marital Status)
172. FINAL ACCEPTANCE DATE
173. MN:PA-3 (8/96) THIS ISA LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS.
IF YOU DESIRE LEGAL OR TAX ADVICE,CONSULT AN APPROPRIATE PROFESSIONAL.
•
VACANT LAND ADDENDUM
This form approved by the Minnesota Association of
REALTORS®, which disclaims any liability
arising out of use or misuse of this form.
1. Date - ----c./•-•=2
2. Page -5 of So Pages
•
3.Addendum to Purchase Agreement between parties dated s- . O , 1917 pertaining to the purchase
4.and sale of the property at XXX 2N DI1S77 'J AL &✓D L oT .L k
5.
6.SPECIAL CONTINGENCIES: This Purchase Agreement is subject to the following contingencies and if the following contingencies checked
7.below cannot be satisfied or waived, in writing, by Buyer by 3 -JL 7 , 1977 , this Purchase Agreement shall become
8.null and void and all earnest money shall be refunded to the Buyer.Buyers and Sellers agree to sign a cancellation of the Purchase Agreement.
9. Select appropriate o• ions a-h)
10. It (a) BUYER Ci shall provide a certificate of survey of the property, at BUYER ELLER cpense, not later than
(cede, _ (c,,de a.
11. s "a7 , 199y .
12. 0 (b) Buyer obtaining approval of city/township of proposed building plans and specifications at BUYER/SELLER expense.
(drde orta)
13. 0 (c) Buyer obtaining approval of city/township of proposed subdivision development plans at BUYER/SELLER expense.
(arca one)
14. 0 (d) Buyer obtaining approval of city/township for rezoning or use permits at BUYER/SELLER expense.
(CtrCle ate)
15. 0 (e) Buyer obtaining at BUYER/SELLER expense, percolation tests which are acceptable to Buyer.
(cede one)
16. (f) Buyer obtaining l /SELLER expense,soil tests which indicate that the property may be improved without extraordinary building
Alk17. methods or cost. r"°one)
8. 0 (g) Buyer obtaining approval of building plans and/or specifications in accordance with any recorded subdivision covenants and approval of
19. the architectural control committee.
20. ❑ (h) OTHER:
21.
22.Seller's expenses for these contingencies (if any) shall not exceed $.5:0 D• 0 L
23.Seller grants permission of access to the property for testing and surveying purposes.
24.PLEASE NOTE: Buyer may incur additional charges improving the property including but not limited to: Hook-up and/or access charges,
25.municipal charges, costs for sewer access, stubbing access, water access, park dedication, road access, utility connection and connecting
26.fees, curb cuts and tree planting charges.
27 SPECIA WARRANTIE • - er warrants that the property described in this Purchase regiment consists of
28. 7 V3 SQUARE FEET and is currently zoned 2/V Du s t/,a L
(cycle one,
29.Seller warrants that the pro rty IS IS NO in the designated 100 year flood plain area.
30.Seller warrants that the pro rty DOESDOES NOT)urrently receive preferential tax treatment (i.e., Green Acres, etc.).
(ar
31.OTHER:
•
32.
(seller) (Date) (Burl Pale)
33.
(Seller) (Dale) (Buyer) (Date)
34. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS.
35. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
36.MN:VLA(8/93)
ADDENDUM TO
/ PURCHASE AGREEMENT
BLANK
This form approved by the Minnesota Association of
REALTORS®: Minnesota Association of REALTORS®
disclaims any liability arising out of use or misuse of this form.
• 1. Date S-� --4Y7
2. Page 6 of Pages
3. Addendum to Purchase Agreement between parties dated .5- -6 , 19"71 pertaining to the purchase
4. and sale of the property at )(X X IND i15772./AL . 2 l'D
5. i. A -C ir�4 is i1/ , S S -
6
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9.
9-75er"-°/-2-81-t- r`
ID 0 T
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31.
32.
3a
34.
35.
(SO ) (Date) (Buyer) (Date)
36.
(set (Date) (Buyer) (Dere)
37. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS.
38. MN:APA(5/88) IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. Q
AGENCY RELATIONSHIPS IN REAL ESTATE TRANSACTIONS
IIIlIfinnesota law requires that early in any relationship, real estate brokers or salespersons discuss with consumers what type of
agency representation or relationship they desire.(1) The available options are listed below. This is not a contract. This is an
agency disclosure form only. If you desire representation, you must enter into a written contract according to state
law (a listing contract or a buyer representation contract). Until such time as you choose to enter into a written contract for
representation or assistance, you will be treated as a customer of the broker or salesperson and not represented by the
brokerage. The broker or salesperson would then be acting as a Seller's Broker(see paragraph I below), or as a nonagent
(see paragraph IV below).
I. Seller's Broker: A broker who lists a property, or a salesperson who is licensed to the listing broker, represents the
Seller and acts on behalf of the Seller. A broker or salesperson working with a Buyer may also act as a subagent of the
Seller, in which case the Buyer is the broker's customer and is not represented by that broker. A Seller's broker owes to
the Seller the fiduciary duties described below.(2) The broker must also disclose to the Buyer any material facts of which
the broker is aware that could adversely and significantly affect the Buyer's use or enjoyment of the property. If a broker
or salesperson working with a Buyer as a customer is representing the Seller, he or she must act in the Seller(s)'
interests and must tell the Seller(s) any information disclosed to him/her. In that case, the Buyer will not be represented
and will not receive advice and counsel from the broker or salesperson.
II. Buyer's Broker: A Buyer may enter into an agreement for the broker or salesperson to represent and act on behalf of
the Buyer. The broker may represent the Buyer only, and not the Seller, even if s/he is being paid in whole or in part by
the Seller. A Buyer's broker owes to the Buyer the fiduciary duties described below.(2) The broker must disclose to the
Buyer any material facts of which the broker is aware that could adversely and significantly affect the Buyer's use or
enjoyment of the property.
III. Dual Agency - Broker Representing both Seller and Buyer: Dual agency occurs when one broker or salesperson
represents both parties to a transaction, or when two salespersons licensed to the same broker each represent a party to
a the transaction. Dual agency requires the informed consent of all parties, and means that the broker and salesperson
owe the same duties to the Seller, and the Buyer. This role limits the level of representation the broker and salespersons
can provide, and prohibits them from acting exclusively for either party. In a dual agency, confidential information about
price, terms and motivation for pursuing a transaction will be kept confidential unless one party instructs the broker or
salesperson in writing to disclose specific information about him or her. Other information will be shared. Dual agents
may not advocate for one party to the detriment of the other.(3)
Within the limitations described above, dual agents owe to both Seller and Buyer the fiduciary duties described below.(2)
Dual agents must disclose to Buyers any material facts of which the broker is aware that could adversely and
significantly affect the Buyer's use or enjoyment of the property.
IV. Nonagent: A broker or salesperson may perform services for either party as a nonagent, if that party signs a
nonagency services agreement. As a nonagent the broker or salesperson facilitates the transaction, but does not act on
behalf of either party. THE NONAGENT BROKER OR SALESPERSON DOES NOT OWE ANY PARTY ANY OF THE
FIDUCIARY DUTIES LISTED BELOW, UNLESS THOSE DUTIES ARE INCLUDED IN THE WRITTEN NONAGENCY
SERVICES AGREEMENT. The nonagent broker or salesperson owes only those duties required by law or contained in
the written nonagency services agreement.
ACKNOWLEDGMENT: I/We acknowledge that I/We have been presented with the above-described options. I/We
understand that Buyers who have not signed a Buyer representation contract or nonagency services
agreement are not represented by the broker/salesperson and information given to the broker/salesperson will
be disclosed to the Seller. I/We understand that written co- ent is req ired for a dual agency relationship.
This is a disclosure only, NOT a contract for representa So,.
i 4d11 - ,_C-2-0-97
• Seller Date Buyer OW ED 4 . Date
Seller Date Buyer Date
(1) This disclosure is required by law in any transaction involving property occupied or intended to be occupied by one to four
families as their residence.
(2) The fiduciary duties mentioned above are listed below and have the following meanings:
Loyalty- broker/salesperson will act only in client(s)' best interest.
Obedience - broker/salesperson will carry out all client(s)' lawful instructions.
Disclosure - broker/salesperson will disclose to client(s) all material facts of which broker/salesperson has knowledge
which might reasonably affect the client's rights and interests.
Confidentiality - broker/salesperson will keep client(s)' confidences unless required by law to disclose specific
information (such as disclosure of material facts to Buyers).
Reasonable Care - broker/salesperson will use reasonable care in performing duties as an agent.
Accounting- broker/salesperson will account to client(s) for all client(s)' money and property received as agent.
(3) If Seller(s) decides not to agree to a dual agency relationship, Seller(s) may give up the opportunity to sell the property to
Buyers represented by the broker/salesperson. If Buyer(s) decides not to agree to a dual agency relationship, Buyer(s)
may give up the opportunity to purchase properties listed by the broker.
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