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HomeMy WebLinkAbout165-15 RESOLUTION113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 166-16 File Number: 2015-0408 REAL ASSETS, INC.: A RESOLUTION TO AUTHORIZE A CONTRACT WITH REAL ASSETS, INC. TO REPRESENT THE CITY IN SELLING APPROXIMATELY 1.25 ACRES OF CITY -OWNED REAL PROPERTY ON OLD WIRE ROAD NEAR GULLEY PARK FOR A SIX PERCENT (6%) COMMISSION WHEREAS, Fayetteville City Code § 34.27(E) authorizes the use of a realtor to assist the City in selling the two houses owned by the City near Gulley Park; and WHEREAS, Real Assets, Inc. submitted the only qualified proposal in response to RFP 15-06. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby authorizes a contract with Real Assets, Inc. to represent the City in selling the two houses near Gulley Park for a six percent (6%) commission. Section 2: That the City Council of the City of Fayetteville, Arkansas hereby sets the listing price for 2634 Old Wire Road at $111,500.00 and for 2648 Old Wire Road at $218,500.00 based on their appraised values. PASSED and APPROVED on 9/15/2015 Page 1 Printed on 9/18115 File Number: 2015-0408 Page 2 165-15 Attest: .� "<,.� Sondra E. Smith, City Clerk Treasurer ttttrirt FAYETTEVILLE. 4A N Page 2 Printed on 9148/95 City of Fayetteville, Arkansas 113 West Mountain Street Fayetteville, Aft 72701 y =t (479) 575-8323 Y Text File File Number: 2015-0408 Agenda Date: 9/15/2015 Version: 1 Status: Passed In Control: City Council Meeting File Type: Resolution Agenda Number: A. 10 REAL ASSETS, INC.: A RESOLUTION TO AUTHORIZE A CONTRACT WITH REAL ASSETS, INC. TO REPRESENT THE CITY IN SELLING APPROXIMATELY 1.25 ACRES OF CITY -OWNED REAL PROPERTY ON OLD WIRE ROAD NEAR GULLEY PARK FOR A SIX PERCENT (6%) COMMISSION WHEREAS, Fayetteville City Code § 34.27(E) authorizes the use of a realtor to assist the City in selling the two houses owned by the City near -Gulley Park; and WHEREAS, Real Assets, Inc. submitted the only qualified proposal in response to RFP 15-06. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby authorizes a contract with Real Assets, Inc. to represent the City in selling the two houses near Gulley Park for a six percent (6%) commission. Section 2: That the City Council of the City of Fayetteville, Arkansas hereby sets the listing price for 263401d Wire Road at $111,500.00 and for 264801d Wire Road at $218,500.00 based on their appraised values. City of Fayetteville, Arkansas Page f Printed on 8/9812015 Connie Edmonston Submitted By City of Fayetteville Staff Review Form osm Legistar File Ili 9/15/2115 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item 8/28/2015 Parks & Recreation / _ Parks & Recreation Department Submitted Date Division / Department Action Recommendation: Approval of a contract with Real Assets, Inc. to sell two single family lots with existing houses situated on 1.2± acres in Gulley Park according to City Ordinance §34.27 —Sale of Municipally Owned Real Property and keep the current zoning of RSF-4. Budget Impact: Account Number Project Number Budgeted Item? NA Current Budget Funds Obligated Current Balance Fund Project Title $ Does item have a cost? NA Item Cost Budget Adjustment Attached? NA Budget Adjustment Remaining Budget $ V20140710 Previous Ordinance or Resolution # 157-14 Original Contract Number: Comments: Approval Date: CITY OF • TayeeIle ARKANSAS TO: Mayor and City Council THRU: Don Marr, Chief of Staff FROM: Connie Edmonston, Parks & Recreation Director DATE: September 11, 2015 SUBJECT: Contract with broker to sell two homes by Gulley Park STAFF MEMO September 15 City Council Consent A. 10. 2015-0408 Real Assets, Inc.: A resolution to authorize a contract with Real Assets, Inc. to represent the city in selling approximately 1.25 acres of city -owned real property on Old Wire Road near Gulley Park for a six percent commission. At the September 8th Agenda Session, Alderman Long asked if the contract with Real Assets, Inc. to sell the two homes by Gulley Park could be changed to remove the six percent cancellation fee (contract item #10) or shorten the length of the contract from 1 year to 6 months with Real Assets, Inc. Long had concerns if the City wanted to cancel the contract prior to the one year period, the City would be responsible for paying six percent of the list price. Staff contacted Mark Brewer, Principal Broker of Real Assets, to request if he would change his contract to reflect either one of the proposed changes. Mr. Brewer expressed he was not interested in negotiating his contract any further. City Staff and Assistant City Attorney are comfortable with the current contract given that Parks Staff had previously tried to sell the property, but was unsuccessful and the fact there was only one proposal for this RFP. This fall is a good time to sell the property and we are anxious to sell it. We have a qualified real estate broker with excellent credentials to sell the homes and I would not want to lose this opportunity. If the contract is not approved, our only option is to re -advertise the RFP and hope we receive a proposal or proposal(s) with this company's qualifications. Meanwhile, Park Staff would need to continue to maintain and secure the property and homes. City Staff is recommending to proceed with the current proposed contract for City Council's consideration. Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 CITY OF '�ttevt e ARKANSAS MEETING OF SEPTEMBER 15, 2015 TO: Mayor and City Council CITY COUNCIL AGENDA MEMO THRU: Don Marr, Chief of Staff Connie Edmonston, Parks and Recreation Director FROM: Byron Humphry, Parks Maintenance Superintendent DATE: August 28, 2015 SUBJECT: Approval of Exclusive Right -to -Sell Agreement with Real Assets, Inc. to sell two homes in Gulley Park RECOMMENDATION: Approval of Exclusive Right -to -Sell Agreement with Real Assets, Inc. to sell two homes in Gulley Park at 2634 Old Wire Rd. and 2648 Old Wire Rd. according to City Ordinance §34.27 — Sale of Municipally Owned Real Property and keep the current zoning of RSF-4 BACKGROUND: Gulley Park was purchased by the City of Fayetteville in 1988 from the Fred Gulley family in order to establish a 28 -acre community park in the northeast section of our city. Gulley Park's walking trail, playgrounds, swings, pavilion, gazebo and open space are actively and highly used by the public, and it is one of the few parks that still retains a somewhat pastoral atmosphere due to the nature of the land and open, non -programmed usable green space. On August 19, 2014, the Fayetteville City Council passed Resolution #157-14 approving the purchase of 11.32 acres for expansion of the park at a cost of $1,100,000. The asking price for the property was $1,300,000; however, the City was given first right of refusal at a price of $1,100,000. The City committed to purchase the property at the appraised value of $970,000 as determined by Reed and Associates, Inc.who was contracted by the City to determine a value of the 10 acres and the two residential houses separately. Citizens actively endorsed the purchase of this property along with the Friends of Gulley Park and the Fayetteville Natural Heritage Association (FNHA). Since there was concern from these groups that a developer would purchase the property, FNHA committed to raise the $130,000 difference in the appraised value and the asking price for a total purchase price of $1,100,000 in their effort to "preserve beautiful and important natural areas and park land." The intention was for the City to sell the two homes and keep the 10.12 acres to offer a total of 38 acres of park land that would continue to preserve the pastoral setting in which people appear to flock. On March 3, 2015, the Fayetteville City Council passed Resolution #61-15 authorizing the City. to offer for sale the ±1.20 acres containing the two single-family homes with a minimum bid based upon their appraised values. The smaller home at 2634 Old Wire Road was appraised at $111,500 and the larger home with the work shop at 2648 Old Wire Road was appraised at Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 $218,500. Park and Recreation staff sent public notices to adjacent property owners, displayed prominent signs on the property and publicized the sale in newspapers and five various social media websites as required by City Code. Bid 15-30 was issued and advertised on March 18, 2015 with a bid deadline of May 4. Six on -site inspection dates were opened to the public to view the homes from March 25th until April 29th. One bid was received at the May 4th bid deadline date for the smaller home at 2634 Old Wire Road. The bid offer was rescinded on June I St. On June 16, 2015, the City Council passed Ordinance 5779 to amend 34.27(E) Sale of Municipally Owned Real Property to authorize the use of a realtor for the sale of the two houses at Gulley Park. The realtor was to be selected in accordance with the City's formal competitive bidding procedures and all offers for the sale or purchase of these two properties is subject to final approval by the City Council. On July 6, 2015, the City issued and advertised REP 15-06, Real Estate Broker Services with a deadline date of July 29, 2015 and received one bid from Real Assets, Inc. The city's professional selection committee met and endorsed the selection of Reals Assets, Inc. to represent the City as Real Estate Broker for the sale of the Gulley Park properties. DISCUSSION: City staff and Mark Brewer, principal broker and president of Real Assets, Inc., have discussed the sale of the two homes considering the appraised value and the unsuccessful efforts to sell the homes previously. Mark believes the market value of the homes is less than the appraised value based on the age and condition of the homes. That being said, staff recommends an asking price of the appraised value with any and all offers to be considered. Mark also believes that a timely response and approval of an offer is crucial to sell these homes. Since all offers for the sale of these two homes are subject to final approval by the City Council, Staff requests that when a viable offer is received the Council is amenable to the offer being walked on to the Agenda or possibly addressed through a special called meeting. The proposed Exclusive Right -to -Sell Agreement for the properties consist of a 6% commission fee and consents that Real Assets, Inc. can represent both the City and the buyer if applicable. The agreement is for a one year period and will be advertised on Internet websites as well as posted realtor signs at each property. The properties are being sold "as is" with no expressed disclosure of the condition of the properties. BUDGET/STAFF IMPACT: Cost for the real estate broker's services will be taken out of the closing costs for the sale of the homes. The exact amount of proceeds from the lot sales will be determined at the point of sale. The sale of the property will come back to City Council for final approval. Attachments: City Ordinance §34.27 — Sale of Municipally Owned Real Property Resolution No. 157-14 Resolution No. 61-15 City Ordinance 5779 2634 and 2648 Old Wire Rd Right to Sell Agreements Real Assets Inc Gulley Property Location Map (3) FAYETTEVILLE CODE OF ORDINANCES TITLE III ADMINISTRATION where such procedures are deemed not feasible Prior to buyer's removal of the hay from the nor practical. site, adjustments as determined by site operating personnel, will be made to the base price for quantity purchases; according to the type of bale purchased; and the relative quality of the harvested hay; and for damage the hay may have received during the harvest. (D) In regard to the marketing and sale of dried biosolids produced by the City of Fayetteville Wastewater Utility: (1) Bulk quantities of dried biosolids (defined as amounts greater than 500 pounds not in a bag or other container) shall be advertised for sale as an organic based fertilizer product at a pre -determined base price twice each year, normally on or about March 1s1 and September 1St of a given year. Bulk quantities, if available, shall be pre - committed for each marketing period on a first call, first commit basis, up to 60% of the projected available amount. Any remaining amount shall be marketed during the marketing period at the same base price on a first call, first commit basis. (2) A base or standard price for bulk quantities of dried biosolids shall be established for each marketing period based on the best information available from fair market value of similar products or from the cooperative • extension service. Adjustments as determined by operating personnel may be made based on current costs of production; • method of delivery; quality of product available; quantities purchased; or other market -driven conditions. (3) Quantities of dried biosolids less than 500 pounds and placed in a bag or other container may be made available to the public via various reputable retail outlets at any given time, according to reasonable terms and conditions as approved by the City Purchasing Manager. The price charged for less than bulk quantities may be adjusted by operating personnel based on current costs of production; method of delivery; quality of product available; quantities purchased; or other market -driven conditions. (E) The City Council may waive the requirements for public auction or formal competitive bids for sales of personal property in exceptional situations CD34:6 (Code 1965, §2-69; Ord. No. 1215, 9-14-59; Ord. No. 1827, 10-4-71; Ord. No. 2006, 5-7-74; Ord. No. 3545, 4-16-91; Code 1991, §34.25; Ord. 4553, 04-06-04; Ord. 4723, 7-19- 05; Ord, 5440, 9-20-11) 34.26 Limited Authority of City Employee To Provide Services To The City An employee of the city shall be permitted to furnish services as an independent contractor to the City only if: (A) The employee fully discloses his or her direct or indirect financial interest in any contract or service agreement to the City Council and such services are approved by City Council Resolution; (B) No favoritism is allowed to the city employee over other possible service providers; (C) Such services are not of the same type as performed by the city employee in his or her regular city job, nor are services for the department wherein the employee works; (D) The employee's immediate supervisor specifically approves such extension of employee service and ensures it will not adversely affect the employee's regular city employment duties; (E) City employees who are not within the Parks and Recreation Department are specifically allowed to work as independent contractors as scorekeepers, referees and umpires for the Fayetteville Parks and Recreation Department without the need for a City Council Resolution. (Code 1965, §2-70: Ord. No. 3013, 6-5-84; Code 1991, §34.26; Ord. 5351, 9-7-10) State law reference(s)--Purchase, lease and sale authorized, A.C.A. §14-42-107. 34.27 Sale Of Municipally Owned Real Property (A) The City may sell real property only after the City Council has passed a Resolution expressly authorizing such sale. The City Council shall determine whether the property should be rezoned or appraised prior to its sale. (B) Such City Council Resolution shall contain a specific finding by the City Council that the subject real property is no longer needed for FAYETTEVILLE CODE OF ORDINANCES TITLE III ADMINISTRATION municipal purposes. (C) Public Notice, that the City Council is considering the sale of the real property at the City Council Meeting with the appropriate date and time of the meeting and which shall include the property's address, acreage, improvements and potential purchase price, shall be given not less than fifteen (15) days before the City Council may consider a Resolution to approve a sale of City real property (except rights of way or easements for public utilities) by all of the following means: (1) First class mail to all adjacent property owners; (2) Prominently displayed signs on the property; and (3) Publication in a newspaper of general circulation in the City. (D) The City may exchange real and personal property with other cities or Washington County only after authorization by ordinance passed by the City Council. The City Council through such ordinance may place limits on the uses that will be allowed of such property as part of the exchange of property agreement. (E) The City Council authorizes the use of a realtor for the sale of the two houses at Gulley Park. The realtor shall be selected in accordance with the City's formal competitive bidding procedures. All offers for the sale or purchase of this City property shall be subject to final approval by the City Council. (Ord. 4358, 1-2-02; Ord. 4380, §1, (Ex. A), 3-19-02; Ord. No. 4651, 12-07-04; Ord. 4752, 9-06-05; Ord. 5465, 12-6-11; Ord. 5497 05-01-12; Ord. 5779, 6-16-15) State law reference(s)--Purchase, lease and sale authorized, A.C.A. §14-54-302; Bidding process, A.C.A. §14- 54-402. 34.28 Purchase By Reverse Internet Auction (A) Bidders shall be provided instructions and individually secured passwords for access to the reverse Internet auction by either the City, or reverse Internet auction vendor; (B) The bidding process shall be timed, and the time, shall be part of the reverse CD34:7 Internet auction specifications; (C) The reverse Internet auction shall be held at a specific date and time; (D) The reverse Internet auction and bidding process shall be interactive with each bidder able to make multiple bids during the allotted time; (E) Each bidder shall be continually signaled his or her relative position in the bidding process; (F) Bidders shall remain anonymous and shall not have access to other bidders or bids; and (G) The City Council shall have access to real-time data including all bids and bid amounts. (H) The City is authorized to pay a reasonable fee to the reverse Internet auction vendor. (1) The fee may be included as part of the bids received during the reverse Internet auction and paid by the winning bidder or paid separately by the City. (a) The City Council retains the right to: Refuse all bids made during the reverse Internet auction; and (ii) Begin the reverse Internet auction process anew if the City Council determines it is in the best interest of the city or town. (Ord. 4724, 7-19-05) 34.29-34.99 Reserved RESOLUTION NO. 157-14 A RESOLUTION TO APPROVE THE ATTACHED OFFER AND ACCEPTANCE CONTRACT IN WHICH THE CITY AGREES TO PURCHASE ABOUT 11 ACRES OF LAND INCLUDING TWO HOUSES AND ANY OUTBUILDINGS FROM MARY L. DUNN FOR THE AMOUNT OF ONE MILLION ONE HUNDRED THOUSAND DOLLARS ($1,100,000.00), TO AUTHORIZE MAYOR JORDAN TO SIGN ALL NECESSARY DOCUMENTS FOR THIS PURCHASE AND TO APPROVE THE ATTACHED BUDGET ADJUSTMENT WHEREAS, Mayor Jordan has signed the attached Offer and Acceptance Contract which is expressly contingent upon approval of the City Council; and WHEREAS, the owner, Mary L. Dunn has also signed the attached Offer and Acceptance Contract. NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves and agrees to the attached Offer and Acceptance Contract in the amount of One Million One Hundred Thousand Dollars ($1,100,000.00) to be paid as specified therein to Mary L. Dunn for the purchase of her property (about 11 acres) and authorizes Mayor Jordan to sign all necessary documents to carry out this purchase including a contract with the Fayetteville Natural Heritage Association, Inc. Section 2: That the City Council of the City of Fayetteville, Arkansas hereby approves the attached budget adjustment for this purchase. PASSED and APPROVED this 191h day of August, 2014. APPROVED: By: ATTEST: By: f a.c KGs _ S N R �+ Sryry��� I ry C 1' /' ,,V' V►►1111 SONDRA E. S1►�IT'H, C1ty L�erRt I r,yiti1�'�� * t i $• CSC a�'. � \ +'-ys ,rt�Ll.,b�;,��,� RESOLUTION NO. 61-15 A RESOLUTION TO AUTHORIZE MAYOR JORDAN TO OFFER FOR SALE APPROXIMATELY 1.25 ACRES OF CITY OWNED REAL PROPERTY ON OLD WIRE ROAD NEAR GULLEY PARK WHEREAS, pursuant to §34.27 of the Code of Fayetteville, the City Council shall issue notice of its authorization to sell city owned real estate by Resolution. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby gives notice and authorization to offer for sale approximately 1.25 acres as described in Exhibit A on Old Wire Road near Gulley Park. Section 2: That the City Council of the City of Fayetteville, Arkansas hereby approves the appraisal dated July 18, 2014, a copy of which is attached to this Resolution and made a part hereof, which estimates the value of the real property located at 2634 Old Wire Road as $111,500.00 and the value of the real property located at 2648 Old Wire Road as $218,500.00 and determines that no new appraisal or rezoning of the property is necessary.. Section 3: That the City Council of the City of Fayetteville, Arkansas hereby determines that this 1.25 acres of real property and the structures located on the property no longer serve a municipal purpose in that proceeds from the sale of this property will contribute more to the expansion of and improvements to city parks than if the City were to retain the land and structures themselves. Section 4: That the City Council of the City of Fayetteville, Arkansas hereby authorizes Mayor Jordan to offer for sale the properties located at 2634 Old Wire Road and 2648 Old Wire Road through a sealed bid process with bids submitted by May 4, 2015, before 2.00 p.m. local time at the City of Fayetteville Purchasing Division office located at 113 W. Mountain Street, Room 306, Fayetteville, AR 72701. Section 5. That the City Council of the City of Fayetteville, Arkansas hereby sets the minimum bid for 2634 Old Wire Road at $111,500.00 and for 2648 Old Wire Road at $218,500.00 based on their appraised values and the City Council shall determine whether to accept or reject any bid that has been submitted. PASSED and APPROVED this 3rd day of March, 2015. ATTEST: 11 By/����� 11 _ ���t`Egrrsrr#xg SONDRA E. SMITH, City Clerk/Treas'=' Yn �`�: ORDINANCE NO. 5779 AN ORDINANCE TO AMEND 34.27 SALE OF MUNICIPALLY OWNED REAL PROPERTY TO AUTHORIZE THE USE OF A REALTOR FOR THE SALE OF THE TWO HOUSES AT GULLEY PARK WHEREAS, on March 15, 2015, the City Council authorized the sale of the two houses at Gulley Park with the minimum bids based upon their appraised values; and WHEREAS, despite considerable staff effort and expense, only one property received a bid which was later rescinded and it is hereby determined that, in this limited circumstance, it is in the City's best interest to hire a realtor for the sale of these properties. NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council of the City of Fayetteville, Arkansas hereby enacts § 34.27(E) of the Fayetteville City Code as follows: "34.27(E) The City Council authorizes the use of a realtor for the sale of the two houses at Gulley Park. The realtor shall be selected in accordance with the City's formal competitive bidding procedures. All offers for the sale or purchase of this City property shall be subject to final approval by the City Council." PASSED and APPROVED this 16'x' day of June, 2015. ATTEST: i��►y�'�"'_ ���tttti�rrrr���i By: o,44'c,f�'• [ Y . SG SONDRA E. SMITH, City Clerk Treas.�', •••�ti 5. FAYETTEVILLE w r L• -v r ti r -:• �kANS1 .•�.� City of Fayetteville, Arkansas 113 West Mountain Sheet Fayetteville, AR 72701 (479) 575-8323 Text File File Number: 2015-0271 Agenda Date: 6/16/2015 Version: 1 Status: Agenda Ready in Control: City Council Meeting File Type: Ordinance Agenda Number: D. 1 AMEND 34.27 SALE OF MUNICIPALLY OWNED REAL PROPERTY AN ORDINANCE TO AMEND 34.27 SALE OF MUNICIPALLY OWNED REAL PROPERTY TO AUTHORIZE THE USE OF A REALTOR FOR THE SALE OF THE TWO HOUSES AT GULLEY PARK WHEREAS, on March 15, 2015, the City Council authorized the sale of the two houses at Gulley Park with the minimum bids based upon their appraised values; and WHEREAS, despite considerable staff effort and expense, only one property received a bid which was later rescinded and it is hereby determined that, in this limited circumstance, it is in the City's best interest to hire a realtor for the sale of these properties. NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council of the City of Fayetteville, Arkansas hereby enacts § 34.27(E) of the Fayetteville City Code as follows: "34.27(E) The City Council authorizes the use of a realtor for the sale of the two houses at Gulley Park. The realtor shall be selected in accordance with the City's formal competitive bidding procedures. All offers for the sale or purchase of this City property shall be subject to final approval by the City Council." City of Fayetteville, Arkansas Page 1 Printed on BI10/2O15 Exclusive Right —to -Sell fli e C2 15ht Agreement (Residential) :79sax.rnan 7 Arkansas eaunLxousFuc REALTQRS'-D Page t of 7 fl A1TOR O0PONTUNFTY ASsociation Form Serial Number: 080765-900143-9395240 1. RIGHT -TO -SELL: In consideration of the services of REAL ASSETS c/a MARK A. BREWER ABR,CRS,GR/,PB (by and through the Principal Broker, or agent thereof assigned by Listing Firm) (hereafter collectively called "Listing Firm") for the purpose of assisting in the possible sale or exchange of the real property described in Paragraph 2 (the "Property"), and THE CITY OF FAYETTEVILLE being the sole owner(s) of the Property (hereafter called "Seller"), Listing Firm and Seller agree that Listing Firm shall have the exclusive right to market the Property for tho Listing Period described in Paragraph 4. Seller does hereby certify and represent that Seller has peaceable possession of the Property, including all improvements and fixtures thereon, and the legal authority and capacity to convey the Property by a good and sufficient general warranty deed, free from any liens, leasehold or other interests, except as may be set forth in Paragraphs 18 and 21. 2. ADDRESS AND LEGAL DESCRIPTION OF THE PROPERTY: 2634 OLD WIRE ROAD (A HOUSE & LOT) PARCEL # 765-16095-000 S -T -R-: 36-17-30 3. OFFERING: Listing Firm agrees to use reasonable effort to solicit an offer(s) to purchase the Property in the amount of $111,500.00 (the "Offering Price") but will present for Seller's consideration any offer to purchase the Property received by Listing Firm regardless of choices in Paragraph 11. Seller agrees to refer to Listing Firm all offers and inquiries received by Seller regarding the Property during the term of this Exclusive Right -to -Sell Agreement. 4. LISTING PERIOD: This listing begins at 12:01a.m. on (month) (day) (year) and expires at 11:59 p.m. on (month) September (day) 30 (year) 2016 , unless extended by mutual written agreement of Seller and Listing Firm (the "Listing Period"). 5, CONVEYANCE: Unless otherwise specified, conveyance of the Property shall be made to any person (hereinafter called "Buyer")submitting an offer that is accepted by Seller, and such conveyance shall be made as directed by Buyer, in fee simple absolute by general warranty deed. Unless expressly reserved herein, Listing Firm may represent to the public that the Property is to be sold inclusive of all mineral rights owned by Seller concerning and located on the Property, if any, Seller warrants and represents to Listing Firm and authorizes Listing Firm to inform prospective buyers that only the signatures set forth below are required to transfer legal title to the Property. Page 1 of 7 Serial#; 090755 409143.9395244 Prepared try. Mark brewer Real Assets markQrealasselsmc.com � -. Copyrigh Exclusive .Ight�to-Sell2015 r Agreement (Residential) Arkansas REALTOPage 2 of 7 REALTOR, OPPORYUNrTy Associationi Form Serial Number:080765-900143-9395240 6. ABSTRACT OR TITLE INSURANCE: Seller has legal ability to furnish Buyer evidence of good and merchantable title by: (i) current and complete abstract of title or (ii) title insurance in the amount of any agreed - upon purchase price. 7. CLOSING PROTECTION: Seller shall have the right to request that title insurer(s), if any, issue closing protection to indemnify against loss of closing funds because of acts of a Closing Agent, title insurer's named employee, or title insurance agent. Any cost for closing protection will be paid by the requesting party(ies), Listing Firm strongly advises Seller to inquire of the Closing Agent(s) about the availability and benefits of closing protection. To insure all funds have been properly disbursed, Seller has been advised of the availability of purchasing a Closing Protection Letter, an additional binder to be added to the Title Insurance Policy at closing. 8. LISTING FIRM'S FEE: If Listing Firm presents to Seller an offer in an amount equal to or greater than the Offering Price, or such lesser price or terms as Seller may accept, or if the Property is otherwise sold or disposed of by Listing Firm or any other person, including Seller, during the Listing Period, Seller agrees to pay Listing Firm a professional fee of either: Ux A. SIX , percent (6%) of the gross amount of any accepted Real Estate Contract or value of any property exchanged for the Property plus $0.00 for professional services rendered; or ❑ B. $ for professional services rendered. If co -brokerage applies, said fee shall be divided: ❑X (I)3.3% of the Purchase Price plus $0.00 to Listing Firm and 2.7% of the Purchase Price to Selling Firm. ❑ (ii) Other: In consideration for Seller's promise contained within this Paragraph 8, Listing Firm promises to Seller that it will use reasonable effort to market the property and solicit an offer regarding the Property with terms and conditions acceptable to Seller, provide additional marketing services as deemed appropriate by Listing Firm and coordinate the closing. Seller agrees that Listing Firm is not required to investigate the financial or other ability of a prospective buyer to consummate any proposed or accepted Real Estate Contract. Seller will not owe a fee to Listing Firm if Buyer does not remove any condition set forth in a Real Estate Contract and cannot close, unless failure to close is the result of breach of a Real Estate Contract by Seller. 9. EXPIRED LISTING CONDITIONS: Seller agrees to pay the professional fee set forth in Paragraph 8 to Listing Firm if the Property is sold or otherwise disposed of: A. during the Listing Period, as defined in Paragraph 4; B. during a period of 30 days (the "Post -Term Period") after the Listing Period when information given by or obtained through Listing Firm during the Listing Period resulted in or contributed in any manner to the sale or disposal of the Property, regardless of procuring cause; or C. at any time after expiration or termination of this Exclusive Right -to -Sell Agreement (including termination by Listing Firm as specified in Paragraph 10 below) when information obtained through Listing Firm during the Listing Period was the procuring cause of the sale or disposal of the Property. However, if Seller employs another real estate firm as exclusive agent for marketing the Property after expiration of this Exclusive Right -to -Sell Agreement, Seller shall pay only one professional fee, and that to the currently employed real estate firm. Page 2 of 7 Sena]L O80765a05163 395240 prepared by: Mark Brewer l Real Mstts 1 marir realasselsinc.com I U " ' ' `' in "' ) ! '' °` €. t siCoht Excluve Ig "1t-t�3l m e Agreement (Re&denti� ) equaa_ ++qus+No Arkansas s REALTORS" Page 3 of 7 REALTORI OPPORTUNITY Association Form Serial Number: 080765-900143-9395240 10. CANCELLATION: Seller may cancel this Exclusive Right -to -Sell Agreement prior to its expiration date without in any manner affecting the indemnities provided by Paragraph 20 and the provisions of Paragraph 9. Such cancellation will be effective only after: 1) Seller has provided written notice to Listing Firm, sent by United States certified mail, return receipt required, and 2) Seven (7) calendar days have elapsed since such written notice was received by Listing Firm. Upon the effective date of cancellation, Seller shall be liable to Listing Firm for a cancellation fee equal to: ® A. SIX percent (_6%) of the Offering Price set forth in Paragraph 3, or ❑ B. the liquidated sum of $ , it being agreed by Seller and Listing Firm the liquidated sum is not a penalty and is agreed to because damages incurred by Listing Firm resulting from cancellation by Seller will be difficult to ascertain, and the amount set forth in the blank (even if $0) shall be in addition to and not a limitation of the sums due Listing Firm pursuant to Paragraph 9 (Expired Listing Conditions) of this Exclusive Right -to -Sell Agreement. Listing Firm may cancel this Exclusive Right -to -Sell Agreement at any time, with or without cause, by providing written notice to Seller. In the event of cancellation by Listing Firm, Seller shall not be responsible for compensation to Listing Firm, unless: (i) Seller shall have breached the terms of this Exclusive Right -to -Sell Agreement or (ii) Listing Firm is entitled to compensation pursuant to Paragraphs 8 and 9. 11. TYPES OF AGENCY: Seller fully understands the agency options available below, and agrees that Listing Firm will be the agent of Seller and will market the Property utilizing the agency options selected below; however, Listing Firm will present to Seller all offers received regardless of agency options selected. In addition to Listing Firm marketing the Property to prospective buyers, Seller chooses to allow Listing Firm to use the following options (Choose as many options as desired to market Property): ❑ A. SUBAGENCY: Seller hereby authorizes Listing Firm to offer Subagency to real estate licensees other than Listing Firm and acknowledges that Seller may be responsible for the actions of Listing Firm and any subagents who accept the offer of Subagency. Listing Firm will provide disclosures and information about the Property necessary to assist Listing Firm and any subagents in performing their duties and responsibilities to Seller. Seller authorizes Listing Firm to pay from Listing Firm's fee agreed upon in Paragraph 8 a share deemed competitive, Listing Firm's policy having been explained to and hereby acknowledged by Seller. NOTE: Seller understands if Subagency is the only option selected any prospective buyers represented by Listing Firm will not be shown the Property. Seller further understands that real estate licensees other than Listing Firm may forego presenting the Property to their clients. ❑ B. BUYER AGENCY: Seller acknowledges Listing Firm is employed by Seller and Selling Firm is employed by Buyer. All licensees associated with Selling Firm are employed by, represent, and are responsible to the Buyer. Seller authorizes Listing Firm to make payment as set forth in Paragraph 8. LJ C. AGENT REPRESENTS BOTH: Seller hereby consents that Listing Firm may represent both Buyer and Seller. Should Listing Firm represent both Seller and Buyer, Seller agrees to the following: (i) Listing/Selling Firm shall not be required to and shall not disclose to either Buyer or Seller any personal, financial or other confidential information concerning the other party without the express written consent of that party; however, Seller agrees Listing/Selling Firm shall disclose to Buyer information known to Listing/Selling Firm related to defects in the Property and such information shall not be deemed "confidential information." Confidential information shall include but not be limited to any price Seller is willing to accept that is less than the Offering Price or any price Buyer is willing to pay that is higher than that offered in writing. (ii) By selecting this option 11 C, Seller acknowledges that when Listing Firm represents both Seller and Buyer a possible conflict of interest exists, and Seller agrees to forfeit individual rights to receive the undivided loyalty of Listing Firm. (iii) Any claim now or hereafter arising out of any conflicts of interest from Listing Firm's representation of both Seller and Buyer is waived. Page 3 of 7 SetialfF: 690765-909143-9395240 t 3 " i Prepared ay: Mark &ewer I Real Assets [ mark@realassel I Exclusive Rl)ght to Sell 015 Copyright Agreement ( esidential)Arkkansas A� 2121 RE~ALTORS� Page 4of7 EQL M. *1J$P"a OPPORTWrITY Association Form Serial Number: 080763-900143-9395240 12. EARNEST MONEY: Seller authorizes and instructs Listing Firm to accept and deposit in Listing Firm's trust account all Earnest Money (if any) received. Should a deposit of Earnest Money (if any) be forfeited, the money shall be divided as follows: Payment shall first be made of all direct expenses incurred in connection with the contemplated transaction, and the balance shall be divided one-half to Listing Firm and one-half to Seller, but in no event shall Listing Firm receive an amount in excess of the fee that would have been received if the sale had been consummated. If a dispute between Seller and any other person or entity arises concerning the Earnest Money (if any), Seller authorizes Listing Firm to interplead the disputed Earnest Money (if any) in a court of law or to an arbitrator and to have Listing Firm's costs and attorney's fees paid from the funds entered for interpleading. Seller acknowledges and understands that Listing Firm is not responsible for obtaining good funds regarding Earnest Money (if any) tendered by prospective or actual buyers. 13. FAIR HOUSING: Seller agrees Listing Firm will market the Property to interested persons without regard to race, color, religion, sex, national origin, handicap, sexual orientation or familial status. Additionally, Seller agrees that Listing Firm and Seller must comply with all state and federal laws while performing this Exclusive Right -to -Sell Agreement. 14. LEAD -BASED PAINT DISCLOSURE: Seller agrees to provide a Lead -Based Paint Disclosure (as required by Federal Law) if the subject Property or any of the improvements were constructed prior to 1978. 15. MULTI -LIST SERVICE AND INTERNET: Seller warrants, represents and authorizes Listing Firm to offer the Property in a multi -list or co-op brokerage, subject to the options selected in Paragraph 11, and comply with all rules and regulations associated with multi -list or co-op brokerage. Seller makes the following elections regarding the transfer of Property information by the Listing Firm's Multiple Listing Service to other Internet websites: (Choose Option A or B) EJ A. Seller elects to allow the transfer of Property information to other Internet websites to be displayed on the Internet. ® Seller elects to allow the address of the Property to be displayed on these Internet websites. Q Seller elects to allow the Property to have an auto valuation on these Internet websites. ® Seller elects to allow written comments or reviews (blogging) when the Property is displayed on these Internet websites. (if checking A, check all above that apply.) ❑ B. Seller elects NOT to allow the transfer of Property information to other Internet websites. Seller understands and acknowledges that consumers who conduct searches for listings on the Internet may not see information about the Property in response to their search. This election covers the transfer of information to other Internet websites by the Listing Firm's Multiple Listing Service. Listing Firm cannot control Property information appearing on Internet websites which obtain information from sources other than the Listing Firm's Multiple Listing Service. Page 4 of 7 Serial# Q8075.80Qtd3838$2G0_ Prepared by:i {v{atk $rW�r i FiBal%ssefs mars JFealasislrto;torn Exclusive Right4oSeH 2015ht Agreement (Residential) I Arkansas EQUAL HOUSING REALTORSf Page 5 of 7 REALTOR ^ OPhorrtu 1YY Association Form Serial Number:080765-900143-9395240 16. SELLER WARRANTY, REPRESENTATION AND AUTHORIZATION: Seller warrants and represents to Listing Firm that no other exclusive representation or exclusive agency agreement is in force. Seller understands that if the warranty representation contained herein is not true, Seller is strongly encouraged to seek legal advice concerning the possibility of liability for two or more commissions before signing this Exclusive Right -to -Sell Agreement. Unless otherwise specified, Seller warrants, represents and authorizes Listing Firm to take the following actions as deemed appropriate by Listing Firm: A. divulge, with Seller's approval, the existence of offers on the property in response to inquiries from potential buyers or cooperating brokers; B. display a For Sale and Sold sign as deemed appropriate by Listing Firm; C. use a key or lock box for entry when Seller is absent, and access the Property by using a keyed or keyless lock -box system; D. acquire loan, utility and other financial information reasonably necessary to market the Property; E. add or change descriptive information when necessary to market the Property; F. use reasonable effort to distribute to all prospective buyers any disclosure form provided unless contrary wishes are conveyed to Listing Firm by a prospective buyer; G. use reasonable effort to discover other information that has a material effect on the value or desirability of the Property (Seller agrees that any disclosure form, if provided, contains all information that has a material effect on the value or desirability of the Property to Seller's knowledge); H. hold an Open House or advertise the Property when Listing Firm believes it is advantageous in marketing the Property; I. photograph, videotape or reproduce the image of the interior and exterior of all Property described herein by any prospective buyer (including those produced by sub -agents or agents representing a person or entity other than Seller); and J. engage, at no cost to Seller, the services of a centralized appointment scheduling service to contact Seller for the purpose of scheduling appointments to view the Property to assist Listing Firm (and sub -agents thereof) and agents for persons interested in viewing the Property. Seller acknowledges such service will not be performed by licensed real estate agents or persons licensed with or employed by Listing Firm. 17. HOME -WARRANTY PLANS: Seller understands the benefits of a home -warranty contract, which may include coverage for most major appliances, plumbing, electrical, heating and air-conditioning systems. The home -warranty contract covers unexpected mechanical failures due to wear and tear and is subject to a per -claim deductible. The availability of a home -warranty contract, cost and applicable deductible have been explained to Seller and Seller chooses: A. No home -warranty contract concerning the condition of any real or personal Property to be conveyed from Seller to Buyer for any period after the closing or for Seller during the Listing Period. ❑ B. A limited home -warranty plan will be provided to Buyer concerning the condition of the Property and will be paid for by Seller at a cost not to exceed $ plus sales tax. This home -warranty contract will not imply any warranty by Seller after closing, and the items covered by said home -warranty contract will be agreed to by a separate agreement between Seller, Buyer and Warranty Company. Coverage's vary and the coverage received will be solely set forth in the home -warranty documents between Buyer and Home Warranty Company, , and no representation or explanation will be provided by Seller, Selling Firm or Listing Firm, Buyer being solely responsible to determine the extent and availability of coverage. Listing Firm and/or Selling Firm may receive compensation from the warranty company. ❑ C. Other Warranty: Page 5 of 7 Serial!;: 080765-900143-9395240 Prepared by: Mark &newer I Real Assets I markCrealassetsinc.corn I - ' Exclusive Rlght�to-Sell C2015 opyright Agreement (Residential) Arkansas 60UAL HOUSING REALTORS' Page 6 of 7 REALTOR' OPPORIUmTr Association FORM SERIAL NUMBER:080765-900143.939524© 18. FIXTURES AND ATTACHED EQUIPMENT: Unless specifically excluded herein, Listing Firm may represent to the public that all fixtures and attached equipment, if any, are included in the Offering Price set forth in Paragraph 3. Such fixtures and attached equipment shall include but not be limited to the following: dishwasher, disposal, trash compactor, ranges, ovens, water heaters, exhaust fans, heating and air-conditioning systems, plumbing and septic systems, electrical system, intercom system, ceiling fans, window air conditioners, carpeting, indoor and outdoor light fixtures, window and door coverings and related hardware, gas or electric grills, awnings, mail boxes, garage door openers and remote controls, water softeners, antennas, television satellite receiving equipment, propane and butane tanks, fireplace inserts, and all items bolted, nailed, screwed, buried, or otherwise attached to the Property in a permanent manner, except the following: 19. SELLER'S STATEMENT: Seller warrants that all information furnished to Listing Firm concerning the Property, including without limitation the information set forth in any disclosure form that may be attached hereto and incorporated herein, is complete and accurate to Seller's knowledge and that no material facts have been withheld from Listing Firm. Unless a potential buyer desires not to obtain a copy of a disclosure form (as evidenced by an oral statement or in a Real Estate Contract), Listing Firm is authorized to use reasonable effort to disclose to any member of the public interested in the Property any disclosure form that may be attached hereto, or any other material information known or made known to Listing Firm about the Property, including without limitation any defects relating to the Property. Seller agrees to defend, indemnify, save and hold Listing Firm harmless from all liability or claims arising from Seller's incorrect or undisclosed information. Seller agrees to notify Buyer and Listing Firm in writing of any changes in any disclosure form or otherwise concerning the Property that become known to Seller. 20. LIMITATION OF RESPONSIBILITY: Listing Firm shall not be responsible for the maintenance, repair or condition of the Property or for damage of any nature affecting the Property, unless such responsibility is assumed by Listing Firm by separate agreement. Seller hereby covenants and agrees to indemnify Listing Firm and hold Listing Firm harmless from any and all liability, obligations or demands made by third parties against Listing Firm as a result of Listing Firm's marketing of the Property, including but not limited to damage or injury to Property or persons and reasonable attorney's fees. Listing Firm encourages Seller to maintain insurance coverage to adequately protect the Property and those individuals who may be on the Property. Seller understands Listing Firm does not insure the Property in any way. 21. SPECIAL CONDITIONS.PROPERTY IS BEING SOLD AS IS, WHERE is, HO W IS . PER APPROVAL BY THE CITY OF FAYETTEVILLE,AR 72701 22. GOVERNING LAW: This Exclusive Right -to -Sell Agreement shall be governed by the laws of the State of Arkansas. 23. SEVERABILITY: The invalidity or unenforceability of any provisions of this Exclusive Right -to -Sell Agreement shall not affect the validity or enforceability of any other provision of this Exclusive Right -to -Sell Agreement, which shall remain in full force and effect 24, MERGER CLAUSE: This Exclusive Right -to-Sell Agreement, when executed by both Listing Firm and Seller, shall contain the entire understanding and agreement between Listing Firm and Seller with respect to all matters referred to herein and shall supersede all prior or contemporaneous agreements, representations, discussions and understandings, oral or written, with respect to such matters. 25. ATTORNEY'S FEES: Should Listing Firm or Seller initiate any type of administrative proceeding, arbitration, mediation or litigation against the other (or against an agent for the initiating party or agent for the non -initiating party), it is agreed by Listing Firm and Seller (aforementioned agents being third -party beneficiaries of this Paragraph 25) that all prevailing parties shall be entitled to an award of their respective costs and attorney's fees incurred in defense of such initiated action against the non -prevailing party. Paqe 6 of 7 Seriat#: 080765.900143-935520.0 ,., i 8reparedby:MEir drkever � RealAssets � mark@reaiassetsinc.com i Exclusive Right4o-Sell Agreement (Residential) Page 7 of 7 Copyright 2015 O3 ____ Arkansas REALTOR' EQUAL HOUSING ovroMrnelty REALTORS" Association FORM SERIAL NUMBER:080765.900143-9395240 26. ENTIRE AGREEMENT, MODIFICATION LIMITED: This Exclusive Right -to -Sell Agreement constitutes the entire agreement concerning the subject matter hereof between Seller and Listing Firm and supersedes all prior or contemporaneous agreements, representations, discussions and understandings, oral or written, with respect to such matters. This Exclusive Right -to -Sell Agreement may not be modified except in writing executed by both Seller and Listing Firm. Any contract entered into by Seller and Buyer shall not affect this Exclusive Right -to -Sell Agreement. 27. TIME: Seller and Listing Firm agree time is of the essence with regard to all times and dates set forth in this Exclusive Right -to -Sell Agreement. Uriiess otherwise specified, days as it appears in this Exclusive Right -to -Sell Agreement shall mean calendar days. Further, all times and dates set forth in this Exclusive Right -to -Sell Agreement refer to Arkansas Central time and date. 28. COUNTERPARTS: This Exclusive Right -to -Sail Agreement may be executed in multiple counterparts each of which shall be regarded as an original hereof but all of which together shall constitute one in the same. THIS IS A LEGALLY BINDING AGREEMENT WHEN SIGNED BY THE PARTIES BELOW. READ IT CAREFULLY. YOU MAY EMPLOY AN ATTORNEY TO DRAFT THIS FORM FOR YOU. IF YOU DO NOT UNDERSTAND THE EFFECT OF ANY PART, CONSULT YOUR ATTORNEY BEFORE SIGNING. REAL ESTATE AGENTS CANNOT GIVE YOU LEGAL ADVICE. THE PARTIES SIGNED BELOW WAIVE THEIR RIGHT TO HAVE AN ATTORNEY DRAFT THIS FORM AND HAVE AUTHORIZED THE REAL ESTATE AGENT(S) TO FILL IN THE BLANKS ON THIS FORM. THIS FORM IS PRODUCED AND COPYRIGHTED BY THE ARKANSAS REALTORS* ASSOCIATION, THE SERIAL NUMBER BELOW IS A UNIQUE NUMBER NOT USED ON ANY OTHER FORM. THE SERIAL NUMBER BELOW SHOULD SE AN ORIGINAL PRINTING, NOT MACHINE COPIED, OTHERWISE THE FORM MAY HAVE BEEN ALTERED. DO NOT SIGN THIS FORM IF IT WAS PREPARED AFTER DECEMBER 31, 2015. FORM SERIAL NUMBER:080765-900143-9395240 The above xclusive Right -to -Sell Agreement is executed on (month) iJi4m (day) J, (year) QZOIS , at , 00 ❑( .m.) REAL. ASSETS c% e Printed Nana MARK A. BR _E BR,CRS,GRI,PB Printed Name: jCITOFFAYETTEIL.E Principal or, ; tiveJ3rokr' ,-7 --- ell Signature: Printed Name: ARK A. E A ti1L1 Printed Name: Seller Page 7of7 SersaTe 48476S 9441439396244 is 3 .f i :' i ,3 I Prepared by. Mark Brewer I Real Assets I mark@reelasselsinc.eorn r Exclusive Right -to Sell Copyright RP;,lL t5SP,e4 �2t]1� Agreement (Residential) avv.sat.6aoo n Ajrykan(sRS a EQUAL11OUSINO REALTORS Page 1 of 7 REM TOR' OPPORTUNITY Association Form Serial Number; 060289-200143-9395170 1. RIGHT -TO -SELL: In consideration of the services of REAL ASSETS c/o MARK A. BREWER ABR,CRS,GRI,Pk3 (by and through the Principal Broker, or agent thereof assigned by Listing Firm) (hereafter collectively called "Listing Firm") for the purpose of assisting in the possible sale or exchange of the real property described in Paragraph 2 (the "Property"), and CITY OFFAYETTEVILLE being the sole owner(s) of the Property (hereafter called "Seller"), Listing Firm and Seller agree that Listing Firm shall have the exclusive right to market the Property for the Listing Period described in Paragraph 4. Seller does hereby certify and represent that Seller has peaceable possession of the Property, including all improvements and fixtures thereon, and the legal authority and capacity to convey the Property by a good and sufficient general warranty deed, free from any liens, leasehold or other interests, except as may be set forth in Paragraphs 18 and 21. 2, ADDRESS AND LEGAL DESCRIPTION OF THE PROPERTY. 2648 OLD WIRE RD, FAYETTEVILLE, AR (A HOUSE & LOT PARCEL # 76'5-16092-000 S -T -R-: 36-17-30 3. OFFERING: Listing Firm agrees to use reasonable effort to solicit an offer(s) to purchase the Property in the amount of $218,500.00 (the "Offering Price") but will present for Seller's consideration any offer to purchase the Property received by Listing Firm regardless of choices in Paragraph 11. Seller agrees to refer to Listing Firm all offers and inquiries received by Seller regarding the Property during the term of this Exclusive Right -to -Sell Agreement. 4. LISTING PERIOD: This listing begins at 12:01a.m. on (month) (day) , (year) and expires at 11:59 p.m. on (month) September (day) 30 , (year) 2016 , unless extended by mutual written agreement of Seller and Listing Firm (the "Listing Period"). 5. CONVEYANCE. Unless otherwise specified, conveyance of the Property shall be made to any person (hereinafter called "Buyer")submitting an offer that is accepted by Seller, and such conveyance shall be made as directed by Buyer, in fee simple absolute by general warranty deed. Unless expressly reserved herein, Listing Firm may represent to the public that the Property is to be sold inclusive of all mineral rights owned by Seller concerning and located on the Property, if any. Seller warrants and represents to Listing Firm and authorizes Listing Firm to inform prospective buyers that only the signatures set forth below are required to transfer legal title to the Property. Page lot 7 Serialfl; 060289.29 014 393 9 51 7 0 a Y: s F i Prepared by:Mark 8mver I Real Assets I mark@_realasselsinc.com Exclusive Right4oSeH Copyright 2015 Agreement Arkansas (Residential) Page 2 of 7 EOUALNGUSING REALTOR- OPPORTUNITY REALTORS® Association Form Serial Number:060289-200143-9395170 6. ABSTRACT OR TITLE INSURANCE: Seller has legal ability to furnish Buyer evidence of good and merchantable title by: (i) current and complete abstract of title or (ii) title insurance in the amount of any agreed - upon purchase price. 7. CLOSING PROTECTION: Seller shall have the right to request that title insurer(s), if any, issue closing protection to indemnify against loss of closing funds because of acts of a Closing Agent, title insurer's named employee, or title insurance agent. Any cost for closing protection will be paid by the requesting party(ies). Listing Firm strongly advises Seller to inquire of the Closing Agent(s) about the availability and benefits of closing protection. To insure all funds have been properly disbursed, Seller has been advised of the availability of purchasing a Closing Protection Letter, an additional binder to be added to the Title Insurance Policy at closing. 8. LISTING FIRM'S FEE: If Listing Firm presents to Seller an offer in an amount equal to or greater than the Offering Price, or such lesser price or terms as Seller may accept, or if the Property is otherwise sold or disposed of by Listing Firm or any other person, including Seller, during the Listing Period, Seller agrees to pay Listing Firm a professional fee of either: x❑ A. six percent (6%) of the gross amount of any accepted Real Estate Contract or value of any property exchanged for the Property plus $0.00 for professional services rendered; or B. $ for professional services rendered. If co -brokerage applies, said fee shall be divided: ®(i O (ii) Other: 3.3% of the Purchase Price plus $0.00 Z7% of the Purchase Price to Selling Firm. to Listing Firm and In consideration for Seller's promise contained within this Paragraph 8, Listing Firm promises to Seller that it will use reasonable effort to market the property and solicit an offer regarding the Property with terms and conditions acceptable to Seller, provide additional marketing services as deemed appropriate by Listing Firm and coordinate the closing. Seller agrees that Listing Firm is not required to investigate the financial or other ability of a prospective buyer to consummate any proposed or accepted Real Estate Contract. Seller will not owe a fee to Listing Firm if Buyer does not remove any condition set forth in a Real Estate Contract and cannot close, unless failure to close is the result of breach of a Real Estate Contract by Seller. 9. EXPIRED LISTING CONDITIONS: Seller agrees to pay the professional fee set forth in Paragraph 8 to Listing Firm if the Property is sold or otherwise disposed of: A. during the Listing Period, as defined in Paragraph 4; B. during a period of 30 days (the "Post -Term Period") after the Listing Period when information given by or. obtained through Listing Firm during the Listing Period resulted in or contributed in any manner to the sale or disposal of the Property, regardless of procuring cause; or C. at any time after expiration or termination of this Exclusive Right -to -Sell Agreement (including termination by Listing Firm as specified in Paragraph 10 below) when information obtained through Listing Firm during the Listing Period was the procuring cause of the sale or disposal of the Property. However, if Seller employs another real estate firm as exclusive agent for marketing the Property after expiration of this Exclusive Right -to -Sell Agreement, Seller shall pay only one professional fee, and that to the currently employed real estate firm. Paae 2 of 7 Serials: 080283 200143-9395170 [. t j . , Prepared by: Mark Brewer I Real Assets ( ma[kia realassetsinc.com I .r' Copyright Exclusive Right -to- ell 2015 Agreement (Residential) Arkansas EQUAL IMUSU10 REALTORS,3 Page 3 of 7 REA1TOA OPPORTUNITY Association Form Serial Number: 060289-200743-9395170 10. CANCELLATION: Seller may cancel this Exclusive Right -to -Sell Agreement prior to its expiration date without in any manner affecting the indemnities provided by Paragraph 20 and the provisions of Paragraph 9. Such cancellation will be effective only after: 1) Seller has provided written notice to Listing Firm, sent by United States certified mail, return receipt required, and 2) Seven (7) calendar days have elapsed since such written notice was received by Listing Firm. Upon the effective date of cancellation, Seller shall be liable to Listing Firm for a cancellation fee equal to: x❑ A. six percent (_6%) of the Offering Price set forth in Paragraph 3, or ❑ B. the liquidated sum of $ , it being agreed by Seller and Listing Firm the liquidated sum is not a penalty and is agreed to because damages incurred by Listing Firm resulting from cancellation by Seller will be difficult to ascertain, and the amount set forth in the blank (even if $0) shall be in addition to and not a limitation of the sums due Listing Firm pursuant to Paragraph 9 (Expired Listing Conditions) of this Exclusive Right -to -Sell Agreement. Listing Firm may cancel this Exclusive Right -to -Sell Agreement at any time, with or without cause, by providing written notice to Seller. In the event of cancellation by Listing Firm, Seller shall not be responsible for compensation to Listing Firm, unless: (i) Seller shall have breached the terms of this Exclusive Right -to -Sell Agreement or (ii) Listing Firm is entitled to compensation pursuant to Paragraphs 8 and 9. 11. TYPES OF AGENCY: Seller fully understands the agency options available below, and agrees that Listing Firm will be the agent of Seller and will market the Property utilizing the agency options selected below; however, Listing Firm will present to Seller all offers received regardless of agency options selected. In addition to Listing Firm marketing the Property to prospective buyers, Seller chooses to allow Listing Firm to use the following options (Choose as many options as desired to market Property): ❑ A. SUBAGENCY: Seller hereby authorizes Listing Firm to offer Subagency to real estate licensees other than Listing Firm and acknowledges that Seller may be responsible for the actions of Listing Firm and any subagents who accept the offer of Subagency. Listing Firm will provide disclosures and information about the Property necessary to assist Listing Firm and any subagents in performing their duties and responsibilities to Seller, Seller authorizes Listing Firm to pay from Listing Firm's fee agreed upon in Paragraph 8 a share deemed competitive, Listing Firm's policy having been explained to and hereby acknowledged by Seller. NOTE: ' Seller understands if Subagency is the only option selected any prospective buyers represented by Listing Firm will not be shown the Property. Seller further understands that real estate licensees other than Listing Firm may forego presenting the Property to their clients. xQ B. BUYER AGENCY: Seller acknowledges Listing Firm is employed by Seller and Selling Firm is employed by Buyer. All licensees associated with Selling Firm are employed by, represent, and are responsible to the Buyer. Seller authorizes Listing Firm to make payment as set forth in Paragraph 8. ® C. AGENT REPRESENTS BOTH: Seller hereby consents that Listing Firm may represent both Buyer and Seller. Should Listing Firm represent both Seller and Buyer, Seller agrees to the following: (i) Listing/Selling Firm shall not be required to and shall not disclose to either Buyer or Seller any personal, financial or other confidential information concerning the other party without the express written consent of that party; however, Seller agrees Listing/Selling Firm shall disclose to Buyer information known to Listing/Selling Firm related to defects in the Property and such information shall not be deemed "confidential information." Confidential information shall include but not be limited to any price Seller is willing to accept that is less than the Offering Price or any price Buyer is willing to pay that is higher than that offered in writing. (ii) By selecting this option 11C, Seller acknowledges that when Listing Firm represents both Seller and Buyer a possible conflict of interest exists, and Seller agrees to forfeit individual rights to receive the undivided loyalty of Listing Firm. (iii) Any claim now or hereafter arising out of any conflicts of interest from Listing Firm's representation of both Seller and Buyer is waived. Page 3 of 7 Sea: 090299-2001143-93K170 : -; Prepared try: Mark Brewer I Real Assets r mark@realasselsine.tem I Exclusive Right -t® -Sell fli e1c201i5nt Agreement (Residential) '° Arkansas rOUALMOU8INO REALTORS" Page 4 of 7 REALTOROPPORTU]IITY Association Form Serial Number: 060289-200743-9395770 12. EARNEST MONEY: Seller authorizes and instructs Listing Firm to accept and deposit in Listing Firm's trust account all Earnest Money (if any) received. Should a deposit of Earnest Money (if any) be forfeited, the money shall be divided as follows: Payment shall first be made of all direct expenses incurred in connection with the contemplated transaction, and the balance shall be divided one-half to Listing Firm and one-half to Seller, but in no event shall Listing Firm receive an amount in excess of the fee that would have been received if the sale had been consummated. If a dispute between Seller and any other person or entity arises concerning the Earnest Money (if any), Seller authorizes Listing Firm to interplead the disputed Earnest Money (if any) in a court of law or to an arbitrator and to have Listing Firm's costs and attorney's fees paid from the funds entered for interpleading. Seller acknowledges and understands that Listing Firm is not responsible for obtaining good funds regarding Earnest Money (if any) tendered by prospective or actual buyers. 13. FAIR HOUSING: Seller agrees Listing Firm will market the Property to interested persons without regard to race, color, religion, sex, national origin, handicap, sexual orientation or familial status. Additionally, Seller agrees that Listing Firm and Seller must comply with all state and federal laws while performing this Exclusive Right -to -Sell Agreement. 14. LEAD -BASED PAINT DISCLOSURE: Seller agrees to provide a Lead -Based Paint Disclosure (as required by Federal Law) if the subject Property or any of the improvements were constructed prior to 1978. 15, MULTI -LIST SERVICE AND INTERNET: Seller warrants, represents and authorizes Listing Firm to offer the Property in a multi -list or co-op brokerage, subject to the options selected in Paragraph 11, and comply with all rules and regulations associated with multi -list or co-op brokerage. Seller makes the following elections regarding the transfer of Property information by the Listing Firm's Multiple Listing Service to other Internet websites: (Choose Option A or B) 0 A. Seller elects to allow the transfer of Property information to other Internet websites to be displayed on the Internet. ❑x Seller elects to allow the address of the Property to be displayed on these Internet websites. EI Seller elects to allow the Property to have an auto valuation on these Internet websites. EI Seller elects to allow written comments or reviews (blogging) when the Property is displayed on these Internet websites, (If checking A, check all above that apply.) ❑ B. Seller elects NOT to allow the transfer of Property information to other Internet websites. Seller understands and acknowledges that consumers who conduct searches for listings on the Internet may not see information about the Property in response to their search. This election covers the transfer of information to other Internet websites by the Listing Firm's Multiple Listing Service. Listing Firm cannot control Property information appearing on Internet websites which obtain information from sources other than the Listing Firm's Multiple Listing Service. Scriaitt: 060269-20Q443•S395770 r€ C I j e Prepared by: Mark [hewer j Real Assets I markc(rilrealassetsinc:Com '.` ,•U•` '' ' ' a yi Exclusive Right4oSeU Copyright Agreement ( esidentlal)REALTORS' Page 5 of 7 REALTOR T OPPORTUTnTY Association Form Serial Number:°60289-200143-9395170 16. SELLER WARRANTY, REPRESENTATION AND AUTHORIZATION: Seller warrants and represents to Listing Firm that no other exclusive representation or exclusive agency agreement is in force. Seller understands that if the warranty representation contained herein is not true, Seller is strongly encouraged to seek legal advice concerning the possibility of liability for two or more commissions before signing this Exclusive Right -to -Sell Agreement. Unless otherwise specified, Seller warrants, represents and authorizes Listing Firm to take the following actions as deemed appropriate by Listing Firm: A. divulge, with Seller's approval, the existence of offers on the property in response to inquiries from potential buyers or cooperating brokers; B. display a For Sale and Sold sign as deemed appropriate by Listing Firm; C. use a key or lock box for entry when Seller is absent, and access the Property by using a keyed or keyless lock -box system; D. acquire loan, utility and other financial information reasonably necessary to market the Property; E. add or change descriptive information when necessary to market the Property; F. use reasonable effort to distribute to all prospective buyers any disclosure form provided unless contrary wishes are conveyed to Listing Firm by a prospective buyer; G. use reasonable effort to discover other information that has a material effect on the value or desirability of the Property (Seller agrees that any disclosure form, if provided, contains all information that has a material effect on the value or desirability of the Property to Seller's knowledge); H. hold an Open House or advertise the Property when Listing Firm believes it is advantageous in marketing the Property; 1. photograph, videotape or reproduce the image of the interior and exterior of all Property described herein by any prospective buyer (including those produced by sub -agents or agents representing a person or entity other than Seller): and J. engage, at no cost to Seller, the services of a centralized appointment scheduling service to contact Seller for the purpose of scheduling appointments to view the Property to assist Listing Firm (and sub -agents thereof) and agents for persons interested in viewing the Property. Seller acknowledges such service will not be performed by licensed real estate agents or persons licensed with or employed by Listing Firm. 17. HOME -WARRANTY PLANS: Seller understands the benefits of a home -warranty contract, which may include coverage for most major appliances, plumbing, electrical, heating and air-conditioning systems. The home -warranty contract covers unexpected mechanical failures due to wear and tear and is subject to a per -claim deductible. The availability of a home -warranty contract, cost and applicable deductible have been explained to Seller and Seller chooses: ® A. No home -warranty contract concerning the condition of any real or personal Property to be conveyed from Seller to Buyer for any period after the closing or for Seller during the Listing Period. ❑ B. A limited home -warranty plan will be provided to Buyer concerning the condition of the Property and will be paid for by Seller at a cost not to exceed $ plus sales tax. This home -warranty contract will not imply any warranty by Seller after closing, and the items covered by said home -warranty contract will be agreed to by a separate agreement between Seller, Buyer and Warranty Company. Coverage's vary and the coverage received will be solely set forth in the home -warranty documents between Buyer and Home Warranty Company, , and no representation or explanation will be provided by Seller, Selling Firm or Listing Firm, Buyer being solely responsible to determine the extent and availability of coverage. Listing Firm and/or Selling Firm may receive compensation from the warranty company. ❑ C. Other Warranty: Page 6 of 7 Senallt: 96028.21101 A3.939i70 Prepared by: Mark &elver I Real Assets I mark@ raalas5g1$inC.4amI ' ' ',{'-' I ' ` '' Exclusive Right4o-Sell 20115ht Agreement (Residential) LII IJ Arkansas REA1.T0RSe EQUAtj,oUSINo Page 6 of T REALTORS' oaAORFUIwe Association FORM SERIAL NUMBER:06o289 200343-9395770 18. FIXTURES AND ATTACHED EQUIPMENT: Unless specifically excluded herein, Listing Firm may represent to the public that all fixtures and attached equipment, if any, are included in the Offering Price set forth in Paragraph 3. Such fixtures and attached equipment shall include but not be limited to the following: dishwasher, disposal, trash compactor, ranges, ovens, water heaters, exhaust fans, heating and air-conditioning systems, plumbing and septic systems, electrical system, intercom system, ceiling fans, window air conditioners, carpeting, indoor and outdoor light fixtures, window and door coverings and related hardware, gas or electric grills, awnings, mail boxes, garage door openers and remote controls, water softeners, antennas, television satellite receiving equipment, propane and butane tanks, fireplace inserts, and all items bolted, nailed, screwed, buried, or otherwise attached to the Property in a permanent manner, except the following: 19. SELLER'S STATEMENT: Seller warrants that all information furnished to Listing Firm concerning the Property, including without limitation the information set forth in any disclosure form that may be attached hereto and incorporated herein, is complete and accurate to Seller's knowledge and that no material facts have been withheld from Listing Firm. Unless a potential buyer desires not to obtain a copy of a disclosure form (as evidenced by an oral statement or in a -Real Estate Contract), Listing Firm is authorized to use reasonable effort to disclose to any member of the public interested in the Property any disclosure form that may be attached hereto, or any other material information known or made known to Listing Firm about the Property, including without limitation any defects relating to the Property. Seller agrees to defend, indemnify, save and hold Listing Firm harmless from all liability or claims arising from Seller's incorrect or undisclosed information. Seller agrees to notify Buyer and Listing Firm in writing of any changes in any disclosure form or otherwise concerning the Property that become known to Seller. 20. LIMITATION OF RESPONSIBILITY: Listing Firm shall not be responsible for the maintenance, repair or condition of the Property. or for damage of any nature affecting the Property, unless such responsibility is assumed by Listing Firm by separate agreement. Seller hereby covenants and agrees to indemnify Listing Firm and hold Listing Firm harmless from any and all liability, obligations or demands made by third parties against Listing Firm as a result of Listing Firm's marketing of the Property, including but not limited to damage or injury to Property or persons and reasonable attorney's fees. Listing Firm encourages Seller to maintain insurance coverage to adequately protect the Property and those individuals who may be on the Property. Seller understands Listing Firm does not insure the Property in anyway. 21. SPECIAL CONDITIONS:PROPERTYIS BEING SOLD AS IS, WHERE IS, HOWIS,PER THE CITY OF FAYETTEVILLE AR 22. GOVERNING LAW: This Exclusive Right -to -Sell Agreement shall be governed by the laws of the State of Arkansas. 23. SEVERABILITY: The invalidity or unenforceability of any provisions of this Exclusive Right -to -Sell Agreement shall not affect the validity or enforceability of any other provision of this Exclusive Right -to -Sell Agreement, which shall remain in full force and effect 24. MERGER CLAUSE: This Exclusive Right -to-Sell Agreement, when executed by both Listing Firm and Seller, shall contain the entire understanding and agreement between Listing Firm and Seller with respect to all matters referred to herein and shall supersede ail prior or contemporaneous agreements, representations, discussions and understandings, oral or written, with respect to such matters. 25. ATTORNEY'S FEES: Should Listing Firm or Seller initiate any type of administrative proceeding, arbitration, mediation or litigation against the other (or against an agent for the initiating party or agent for•the non -initiating party), it is agreed by Listing Firm and Seller (aforementioned agents being third -party beneficiaries of this Paragraph 25) that all prevailing parties shall be entitled to an award of their respective costs and attorney's fees incurred in defense of such initiated action against the non -prevailing party. Page 6 of 7 Seriai#: 66926-260143.9395i1O 5'.. . . Prepared W: Mark Bremer I Real Assess I mmk(c realasselsinc.com I Exclusive ih t® -Sell Copyght Agreement (Residential) I Ar205 kansas REALTORSa Page 7 of 7 ounLwause+e rI' OPPORTION:Tv Association FORM SERIAL NUMBER:0602s9-200143-9395170 26. ENTIRE AGREEMENT, MODIFICATION LIMITED: This Exclusive Right -to -Sell Agreement constitutes the entire agreement concerning the subject matter hereof between Seller and Listing Firm and supersedes all prior or contemporaneous agreements, representations, discussions and understandings, oral or written, with respect to such matters. This Exclusive Right -to -Sell Agreement may not be modified except in writing executed by both Seller and Listing Firm. Any contract entered into by Seller and buyer shall not affect this Exclusive Right -to -Sell Agreement. 27. TIME: Seller and Listing Firm agree time is of the essence with regard to all times and dates set forth in this Exclusive Right -to -Sell Agreement. Unless otherwise specified, days as it appears in this Exclusive Right -to -Sell Agreement shall mean calendar days. Further, all times and dates set forth in this Exclusive Right -to -Sell Agreement refer to Arkansas Central time and date. 28. COUNTERPARTS; This Exclusive Right -to -Sell Agreement may be executed in multiple counterparts each of which shall be regarded as an original hereof but all of which together shall constitute one in the same. THIS IS A LEGALLY BINDING AGREEMENT WHEN SIGNED BY THE PARTIES BELOW. READ IT CAREFULLY. YOU MAY EMPLOY AN ATTORNEY TO DRAFT THIS FORM FOR YOU. IF YOU DO NOT UNDERSTAND THE EFFECT OF ANY PART, CONSULT YOUR ATTORNEY BEFORE SIGNING. REAL ESTATE AGENTS CANNOT GIVE YOU LEGAL ADVICE. THE PARTIES SIGNED BELOW WAIVE THEIR RIGHT TO HAVE AN ATTORNEY DRAFT THIS FORM AND HAVE AUTHORIZED THE REAL ESTATE AGENTS) TO FILL IN THE BLANKS ON THIS FORM. THIS FORM IS PRODUCED AND COPYRIGHTED BY THE ARKANSAS REALTORS* ASSOCIATION. THE SERIAL NUMBER BELOW IS A UNIQUE NUMBER NOT USED ON ANY OTHER FORM. THE SERIAL NUMBER BELOW SHOULD BE AN ORIGINAL PRINTING, NOT MACHINE COPIED, OTHERWISE THE FORM MAY HAVE BEEN ALTERED. DO NOT SIGN THIS FORM IF IT WAS PREPARED AFTER DECEMBER 31, 2015. FORM SERIAL NUMBER: 060289-200143-9395170 The above "xclusive Right -to -Sell Agreement is executed on (month) (day) , (year) L 1$, at : 00 ❑(1.m.) LI(p.m.). REAL ASSETS c%o MARK A. Signature: r �/G„ � � ) Sign Printed Name: ,MARK BROWkRABR,CRS,GR1,A�6 - .,printed Name: LMTYOFFAYETTEVILLE Principe —1=ic r i Seller Signature: ..�✓ Signature: Printed Name: MARK A. BREWER AfrR, CRS, GR1,PB Printed Name: f SAIlnr Page 7 of 7 Serial#: 060289.20014 -9395170 a , : U, „. •.., . Prepared by: Marie Chewer � E2eaf fusels I markQreatassalsirsc.com � } 2648 Old .w fr "' Wire Road 3<LL ° a ri. _ �-.; iE £t i;: a;a'�.%a�'' x�,'a ✓. ,.:-. : _ 2634 Old # Wire Road i� ik�.s S.a! i'{F 1#Sm'PT >�f 4�£ §{y`I ✓' # � d^a h r^rt4dp # r gY yXg'�j Gulley Park as 'i •^;+ � �xs�, a ₹ SS�'�'' �"' w .r s� � E-�- t °^ i �? S ;^ 3 s ��(fiy rj�bs�y ` � € � } � � f }s 3 .i6. »ia•->..,�� =3 2 si.. <.:. 2 F `''"' s t a� _ l� `a ix "acsec< - ssa< t a t: 2634 and 2648 Old Wire Road Fayetteville, AR o 30 60 120 180 24 Feet MarkewerTT Real Assets, Inc. «Urge Enough to e Professional, Small ersor��l. Enough to be Personal." " by Chris Metcalf • photography by Jason Hendon, PhotoGraphix of Northwest Arkansas Mark Brewer doesn't httveain off switch. His engine.is always running in overdrive and lte is almost always thinking about one thing? Real Estate. As principal.brokerfpresk lent.of Real Assets, Iuc:, in 1"•apettiwille, Brewer oversees a growing business that has expanded from residential real estate to commercial, property management and construction. Like the Northwest Arkansas community, his company, and affiliated businesses have seen dramatic growth. In nearly 25 years in the business, Brewer has built companies based on one simple philosophy and that is relationships. "I can look back and recall families 1 helped get into their first home`and nC'hi necrm �.... ..... today I am helping their children and grandchildren buy and sell their homes' Mark says. "Almost every transaction I have been a part of was either the beginning or because of an existing relationship. It is more important than the house or the land or the price." He bought his first trailer when he was just 17 and enjoyed everything about it, from scraping together the down payment to taking the keys for the first time to improving it and selling it fora pt`ofit. He recognized right away the power of real estate and the need it fulfilled, "I started to attend the U of A but I was too excited about getting into real estate and couldn't wait so I jumped tight in with both feet. I was young, but I learned an awful lot at a young age." h veterans of the industry and through ses and failures. He also dedicated truing through professional and lucation, eventually attaining the ALTORS5 Institute (GRI), Accredited resentative (ABR) and the (CRS)— dential Specialist designations. He msas state president of CRS in 2005. lave to stay current with education and Is within the industry to offer customers best service. I have always viewed cation and professional designations is tools in providing great service and counsel to my clients. The CRS designation and professional requirements that go along with it really help to increase the professionalism of our industry" His sales production puts Brewer among the top REALTORS °° in the state. He is a life member of the Multi -Million Dollar Club and reached the heralded level of Diamond with the Metro Board of REALI'ORST. He personally closed more than $21.7 million in 2005. His company had transactions totaling more than $40 million. He has coined the phrase "large enough to be professional, small enough to be personal," Even though his sales put him among the elite, he remains down to earth and humble in his relationships. Brewer built his residential business through the 80's and into the 90's when he began to diversify into property management and commercial projects. The boom in development along e,:' 1-540 has been nothing short of phenomenal and his knowledge of the area from childhood gave him ; insights as his customers looked to capitalize on the market. His early ventures into the commercial segment included coordination of the property purchase and development at 1-540 near the Wagon Wheel exit, and subsequent sale of portions of the property. The location captures the essence of rapid property valuation in Northwest Arkansas. The original 22 acres were purchased for $380,000 in 1995 and 20 of the remaining acres recently sold for $2.5 million. "Commercial just keeps getting more exciting around here. It seems-' that not a day goes by that a new purchase is announced or a new development gets underway. This industry has recognized the 'great value properties in the area offer for both development and investment." Along with the residential. and commercial, growth has come an influx of new residents into the area Brewer saw the potential in property management two decades ago and has steadily increased his holdings to include rental°homes, apartments and commercial properties. Property management has also required increasing his staff to include sales agents, office staff, property managers, maintenance and construction, His team can handle virtually any project from massive remodel to repairs to landscaping. The newest segment of Brewer's business is new home construction, He entered this market slowly and gradually over the years; increasing his company's project workload from remodeling to general contracting. MAB Builders, his construction company, started with spec homes in several communities underdevelopment and has expanded to develop entire sections of new neighborhoods. Another company lie owns, Brewer, Inc., takes new neighborhood development projects from the planning stage through platting and construction: "Doing new home construction right requires :experience. I am very pleased with our progress over the years, growing from spec houses here and there to offering complete development solutions." He has hit upon a segment in new construction that he believes will drive the next phase of many developments. He cites a glut of available new and recent homes in the $250,000-$400,000 segment. Homes in this niche have been over -built in recent years r,A V. LIT11,"Real Assets'' ding Construction, nance,and Sales. and a market slowdown, along with increasing mortgage rates, is leaving many of these properties on the market and often empty. Under the expertise of his construction foreman, Brewer is now building homes in the 1,700-1,900 square foot range with prices from $150,000 to $180,000 in Greenland, Springdale, West Fork and other communities. This market fits very well with the demographic makeup of Northwest Arkansas. He plans to soon introduce new homes in the 1,300 to 1,500 square foot range and priced at $150,000 and below. This plan is a definite departure from most builders who have been increasing the size of their homes in recent years. "I know this market putty well after 25 years and I can see that new home prices are going to have €o come down in order for many first-time homebuyers and young families to be able to afford them. We are meeting the demands of a changing market with our models." The elements of Brewer's comprehensive plan for his businesses come into focus. His commercial property division can locate and coordinate the purchase of land. His Brewer, Inc. and MAB Builders companies can take the land from dirt to developed and the sales associates of Real Assets market the properties. He and the team at Real Assets work closely with brokers and REALTORSfrom across the area in selling properties. All agents are welcome to visit any homes listed by Real Assets. "We want the agent community to know we have plenty of inventory of homes immediately available for purchase and move -in and more in the pipeline. We have great relationships BROKLR AGENT magazine with many, many real estate professionals and took forward to working with them on both ends of the deal. Anyone is welcome to give me a call at any time to learn about our properties." As his businesses have grown, Brewer has kept his eye on others in the industry. He knows he has to work a little harder and a little smarter in order to remain competitive in an industry dominated by large corporations with franchise locations and builders with hundreds of properties under development in communities across the state and the nation. One way he has competed is to attract the very best talent available. His team of REALTORS ° represents a vast array of expertise and talent, from agents new to the business to seasoned professionals who have been with him several years. in the Metro Board or REALTORS'. He invests in their success by marketing properties through advertising in various mediums and networking other REALTORS" and affiliated professions. "If there is one thing I can teach agents it is to build relationships constantly. And never let a relationship fall apart over something that can be corrected. You never know when you will need to call upon that relationship to help you in the future." Another aspect Brewer encourages everyone within his companies to do is find balance in their lives. The demands of real estate can be taxing and take up valuable time away from family, friends or activities needed to recharge the batteries. Brewer finds the time to enjoy his passions of sports cars, travel and being a master -rated SCUBA diver. Even when he's away from it all, Brewer still revs his engines to enjoy life to the fullest. * "I am only as good as the people around me," Brewer adds_ "Whether it is construction, repairs, commercial or residential sates, my team Contact Mark Brewer must be the very best. I am always looking to expand my sales force with experienced agents and those new to the industry who are looking to at (479) 521 -MARK do what it takes to invest their resources and time in order to succeed." mark@realassetsinc.com. NORTHWEST ARKANSAS BOARD of REALTORS July 21, 2015 To Whom It May Concern: Mark Brewer is a member in good standing of the Northwest Arkansas Board of REALTORS®. His 2015 REALTOR® dues have been paid to NAR, ARA, and NABOR. His 2015-2016 MLS dues have been paid. His NRDS ID is 130024531. 1f you have any questions, please contact me at 479-770-0241 or email me at Kevin c®c nwarealtors.org. Sincerely, Kevin Shipp Executive Assistant Mark A. Brewer Biography for Publication Mark A. Brewer AI3R,CRS,GR[,pB is President and Principal Broker of Real Assets, Inc., serving customers in buying and selling residential, multi -family, and commercial properties. Mark has more than 30+ years of experience in Real Estate in Northwest Arkansas, Leasing, Building, Land development amounting to over $300,000,000 in closed listings & sales. Lifetime Member Multi — Million Dollar Club . Mark having held licenses in General Contracting( building 38 homes ,priced from 511 5,000.00 to 5400,000.00) , Holding a Class I landfill licenses , Car dealer in the State of Arkansas , Has been the President of MAB Builders, Inc., Brewer, Inc. and Brewer Classic Cars. Mark is a GR[ (Graduate of the Real Estate Institute), AI3R (Accredited Buyers' Representative), and CRS (Certified Residential Specialist). He was president of the Arkansas CRS Chapter in 2005 and vice president in 2003-2004. • City of Fayetteville, Arkansas Purchasing Division - Room 306. 113 W. Mountain Fayetteville, AR 72701 Phone: 479.575.8220 TDD (Telecommunication -Device for the Deaf): 479.521.1316 REQUEST FOR PROPOSAL: RFP 15-06, Real Estate Broker Services DEADLINE: Wednesday, July 29, 2015 before 2:00:00 PM, local time RFP DELIVERY LOCATION: Room 306.113 W. Mountain, Fayetteville, AR 72701 PURCHASING AGENT: Andrea Foren Rennie, CPPO, CPPB, aforen@fayet�ville-argv DATE OF ISSUE AND ADVERTISEMENT: Monday, July 06, 2015 Real estate brokers intending to respond are strongly encouraged to register as an interested party. Registration will insure you receive any changes in the RFP process. To register, e-mail aforent fayetteville-ar. ov with your contact information. No late proposals shall be accepted. RFP's shall be submitted in sealed envelopes labeled with the project number and name as well as the name and address of the firm. All proposals shall be submitted in accordance with the attached City of Fayetteville specifications and bid documents attached hereto. Each Proposer is required to fill in every blank and shall supply all information requested; failure to do so may be used as basis of rejection. Any bid, proposal, or statements of qualification will be rejected that violates or conflicts with state, local, or federal laws, ordinances, or policies. The undersigned hereby offers to furnish & deliver the articles or services as specified, at the prices & terms stated herein, and in strict accordance with the specifications and general conditions of submitting, all of which are made a part of this offer. This offer is not subject to withdrawal unless upon mutual written agreement by the Proposer/Bidder and City Purchasing Agent. Narne of Firm: E Ar . . Contact Person: A At r j t&1t. .it Title: E -Mail: j fij4l� ccve_Cfr Phone: _22L 1 Q. Business Address: kb City: • State: _&(.. 6Zj i'' Signature; Date: 'oe City of Fayetteville.AR RFP 15-06, Real Estate Broker Services Page 1 of 19 City of Fayetteville RFP 15-.06, Real Estate Broker Services Advertisement City of Fayetteville, AR Request for Proposal RFP 15-06, Real Estate Broker Services The City of Fayetteville, Arkansas, invites prope€•ly° licensed real estate brokers to accompany the City in the sale of two residential properties located at 2634 Old Wire Rd. and 264g Old Wire Rd-, both in Washington County, Fayetteville, AR, These properties are being sold in as -is condition with no warranty. To be considered, proposals shall be received at the City Administration Building, City Hall, Purchasing — Room 306, 113 West Mountain, Fayetteville, Arkansas, by Wednesdayjuly29, 2015 before 2:0000 PM, local time. No late submittals shad he accepted, Solicitation forms & addendurrts can be downloaded from the City's w/ebsite at wwvv.fayettevi ile-ar.gov• All questions regarding the process should be directed to Andrea Foren Rennie, CPPO, 1-PPR at aforen2fa ettevilje-ar. gy or (479) S75-8220- Proposals submitted shall be qualified to do business and licensed in accordance w th all applicable laws of the state and local governments where th.e project is located, Pursuant to Arkansas Code Annotated §22 9.203 The City of Fayetteville encourages all qualified small, minority and women business enterprises to bid on and receive contracts for goods, services, and construction, Also, City of Fayetteville encourages all general contractors to subcontract Portions of their contract to qualified small, minority and women business entercrises. The City of Faayettevilie reserves the right to reject any or all Proposals and to waive irregularities therein, and all parties agree that such resection shall he without liability on the part of the City of Fayetteville for any damage or claim brought by any interested party because of such rejections, nor shall any interested party seek any recourse of any kind against the City of Fayetteville because of such rejections. The filing of any Statement in response to this invitation shall constitute an agreement of the interested party to these conditions. CITY OF FAYETTEVILLE By: Andrea Foren Rennie, CPPO, CPPB Title: Purchasing Agent 479-575-8220 aforen@fayetteviile ar,gov Ad date: 07/06/2015 City of Fayettev€Ile, AR RFP 15-06, Real Estate Broker Services Page 2 of 19 City of Fayetteville RFP 15-06, Real Estate Broker Services SECTION A: General Terms & Conditions 1. SUBMISSION OF A PROPOSAL SHALL INCLUDE: Each proposal shall contain the following at a minimum. Proposer must also address detailed requirements as specified in the Scope of Work. a. A written 'narrative describing the method or manner in which the Proposer proposes to satisfy requirements of this RFP in the most cost effective manner. b A description of the Proposer's experience in providing the same or similar services as outlined in the RFP. This description should include the names of the person(s) who will provide the services, their qualifications, and the years of experience in performing this type of work. Also, include the reference information requested in this RFP. c. The complete fee and cost to the City for all services outlined in this RFP. d. Statement should be no more than twenty five (25} pages; single sided, standard, readable, print on standard 8,5x11 papers. Proposers shall also submit a three (3) page (maximum) executive summary. The following items will not count toward the page limitations: appendix, cover sheet, 3 -page executive summary, resumes (resumes shall be no more than 1 page per person), and forms provided by the City for completion. e, All Proposers shall submit six 6) sets of their posal as well as cane fl} electronic co on a properly labeled CD or other electronic media device. The electronic copy submitted should be contained into one (1) file, The use of Adobe PDF documents is strongly recommended, Files contained on the CD or electronic media shall not. be restricted against saving or printing. The electronic copy shall be identical to the original papers submitted. Electronic copies shall not be submitted via e-mail to City employees by the Proposer. -------- f. Proposals will be reviewed following the stated deadline, as shown on the cover sheet of this document. Only the names of Proposer's will be available after the deadline until a contract has been awarded by the Fayetteville City Council. All interested parties understand proposal documents will not be available until after a valid contract has been executed, g. Proposers shall submit a proposal based on documentation published by the Fayetteville Purchasing Division. h. Proposals shall be enclosed in sealed envelopes or packages addressed to the City of Fayetteville, Purchasing Division, Room 306, 113 W. Mountain, Fayetteville, AR 72701. The name, address of the firm and Bid, RFP, or RFQ number shall be on the outside of the packaging as well as on any packages enclosed in shipping containers or boxes. City of Fayetteville, AR RFP 1.5-06, Real Estate Broker Services Page 3 of 19 Proposals must follow the format of the RFP. Proposers should structure heir {responses ';o follow the sequence c.f the RPP. Proposers shall have experience in work of the same or similar nature, and must Jrovl_de ref_'rer-cr=_s _ki.at will satisfy the City of Fayetteville. Proposer shall rl rr', sh a reference list of clients for whom they have performed similar services and must provide information as tequestted in this document. k. Proposer is advised that exceptions to any of the terms contained if) tnis RFP or the attacne{.Y se€vice agreement must he identified in its response to the ..FP. Failure to do so may lead the ;city to declare any such term non- iegot'abie. Proposers desire to take exception to ,a non negotiable term will not disqua!i'y it from consideration for award. Local time shall be defined as the time in Fayetteville, Arkansas on the due date of the deadline. Documents shall be received before the deadline time as shown ₹by the atomic clock located in the P'urchasir.c Division Office. 2. WRITTEN REQUESTS FOR INTERPRETATIONS OR CLARIFICATION: No oral interpretations will be made to any firms as to the meaning of specifications or any other contract documents. All questions pertaining to the terms and conditions or scope of work of this proposal must be sent in writing via e-mail to the Purchasing Department. Responses to questions may be handled as an addendum if the response would provide clarification to the requirements of the proposa€. All such addenda shall become part of the contract documents. The City will rot. he responsible for any ether explanation or interpretation of the proposed RFP made or given prior to the award of the contract. 3. DESCRIPTION OF SUPPLIES AND SERVICES: Any manutacturer�s names, trade name, brand name, catalog number, etc, used if soecifications are for the purpose of describing and establishing general quality levels. Such references ore NOT intended to he restrictive. Proposals shall be considered for all brands that meet the quality of the :;e c fications ii silt_.; for any items. 4. RIGHTS OF CITY OF FAYETrEVILLE IN REQUEST FOR PROPOSAL PROCESS_ n addition to ail other rights of the City of Fa •ei:teville under state law; the City specifically iCserves the following: a. The City of Faye teville reserves the rigli_ to rank firms and negotiate: with the h gliust ;anksn firm. Negotiation with an individual Pro[7oser does not requir-e negotiation with others. b. The City reserves the right to select the proposal it believes will serve the best int'ere.st of the amity. .,. the City of Fayetteville reserves the right to accept or reject any or a!l proposals. City of Fayetteville, AR RFP 15-05, Real Estate Crater Services Page 4u119 a. The City of PveTfevrli= reserves th? right cancel i the entire request _ co al . _;� �. , �c�, t" � ;:�r ur.,�3s.. e, The C:ty of 1"a'y'e'tt'''vi re ₹'eseries the righ}' to remedy or waive t ch₹li:.(fi or ;i'F-trf':atiarl I errors in the request for proposal or in prop osa s submitted. f, [he City of Fayetteville reserves the rigra to rz2q est 3n" / necessary clarifications, additic a inrorr'sat:on or proposal data W''itr ollt changing the terms of me pro tosai. The Cityof Fa' ettelil to re"er ev the right make s; e --the D $ to perform the Y _ � � _ ;;.;t to r <.i<e �_.I�..ai of : roi�o. er ��.: forrti serer ces required o€' the basis of the original proposals §V'throut negoba:ioni. 5. EVALUATION CRITERIA; The evaluation criterion defines site factors that ..ill be used by the selection committee to eval1 i c aLr and score responsive, responsible and qualified proposals, Proposers shill include sufficient information to allow the selection committee to thoroughly evaluate and score iproposa s. Exert proposal submitted shall be evaluated and ranke.J by a selection committee. Me contract will he awarded so t<;se most qualified Proposer, per the. evaluation criteria listed in this RFP, P oposers are not guaranteed to be ranked. 5. COSTS INCURRED BY PROPOSERS: Ail expenses Invcilvea with the preparation and submission of oroposai:; to the City, or any work performed in connection therewith, shall be borne solely by the Proposeer(s). No payment will be made for any responses received, or for any other effort required of, or made by, :=;E'. Proposers) prior to contract commencement. 7. ORAL PRESENTATION: An oral prese,,imluon and/or interview may he requested of any firm, at the selection, committee's discretion, 8. CONFLICT OF 1N1ERE5T: a she Proposer reoresents that it preserlt y has no int'err s . eon shall acciuire r=.o interest, either fiirecs - i^.i'I€rectt: �.;-( .d conflict €i cry ..c.lsl' r'•fili.:ii ifm reticcrequired .,,� ..... ... _ �-�3 'Lh; ii41�, Y' k'r, =1_ I or t, �;F11'�..��' hereunder, as provided in Ct'y of Fayetteville Cone urectic;t≥ =i.ef) title "Lmfed Authority of City Employee to Prov€de Services to the City . o- l i r ti <.' I I ii. The Proposer Snas promptly r`"'f• Andrea. i= n. City r "if of cif i +i..:.; 'I r�n'f. Gf';,.'t, .�_It) t.lr :ilc Ir1� Agent, f"� W�t I:,i₹`:�; potential conflicts of interest for any Drospective business association, €€itE rest, or other circumstance which may influence or appear to influence the propos r S judgment or quality of services being 17f;7'videcl. Such written %ot f at:,fir ';halt identify the prospective business association, interest or circumstance, the nature of which the Proposer may undertake ;gnu request an opinion to the City as to minether the association, rn .erCst rtr circumstance wouid, in the opinion of the City, constitute a conflict of interest_ if enterCd into by the Proposer. The City City of r-.,attev€ Ie, AR tFP IS -O , Rez, =state Broker Services Paof _Y agrees to coi'nrr�unEcate with t'ne Proposer its opinion Via e-mail or first-class mail within thirty days of receipt of not�hoatigin. 9, WITHDRAWAL OF PRlOPOSAL: A proposal may be withdra=Evn prior to' t<e Larne set for tine proposal submittai based on a written request from an authorized representative of the firm, however, a proposal shall not be withdrawn after the time set for the proposal. 10. LATE PROPOSAL OR MODIFICATIONS: a. Proposal and mod€t cat on; received after the t me set for inc proposal submittal shall not be considered. Modifications in writing received prior to the deadline will be accepted. The City will not be responsible for misdirected bids. Proposers should call the Purchasing Division at (479) 575-•8220 to insure receipt ct their submittal documents prior to opening time and date listed. iJted. b. The time set for the deadline shall de local time for Fayettevilie, AR on the date listed, All proposals shall be received in the Purch.astn g Division BEFORE the deadline stated. The official clock to determine local time shall be the atomic clock located in the :Purchasing Di€€vision, Roorn, 306 of City l -lad, 113W, Mountain, Favetteville, AR, 11. LOCAL, STATE, AND FEDERAL COMPLIANCE REQUIREMENTS; a. The laws of the Stare of Arkansas apply to any purchase made under this request fcr ,proposal, Proposers shall :ornply with ail oca , state, and federal directives, orders and laws as apulicable to this proposal and su Sequent contract(s) including but not limited to Equal Employment i oortonit'' Disadvantaged F Ri. sine5•� Enterprise (ORE). '� 'Sapplicable `, P. (EEO), g s `D(3_ & OSHA to this contract. b. Pursuant to Arkansas Code Annotated §229203 rlhe City of may'ettev'ille encourages all puatifled small, minority and women n business enterprises to bid on and receve contracts lam goods, services, and construction, Also, City of Fayettevil e encourages all general contractors to _subcontract portions of their contract to quail led small, minority and women nusi`nips: enterpri;ses_ 12. PROVISION FOR OTHER AGENCIES: Unless otherwise stipuictec by the Proposer, the Proposer agrees to snake available to all GoVPrmment agencies, department;, ni unicipalities, aria counties: the proposal prices s i,.)mitted in accordance with said proposal terms and conditions tnerelr', should any said governmental entity desire to buy under this prposal. Eligible users shall mean cli stn to of Arkansas agencies, the legislative and judicial branches. political subdivisions (counties, local district school boards, community colleges, municipal ties, counties, or other public agencies or authorities), which may desire to purchase_ under tl".e term; and condition; of the contract. City of Faywtteviile, AR ≥RFP 15-06, Real Estate Broker Servicas Page 5 of 19 13. Wt I;1SION- The Proposer; by affix!r€g h s or her signature to this proposal, agrees to the fallowing: "Pr opcsei'ert:ilies that his proposal is made without previous unclerstandii1g, agreement, or connection wi€h soy person, �a Or cure rat.on mas ng a o"opoSal for the same Item($( and/or services is U . I- �, �:_: \'I =s arid .S in 1.. '5'; fair, rl:.i`::,ti; outside conrrc€r, coillusion, frr"ion, or otherwise illegal action" 14, RIGHT TO AUDITFDIA, AND JURISDICITON: a. The City of Fay Ile fesarves the privilege auditingvendor's records u r•. - i f.. :[ }j! `.)f a �_f;[J _try .�('.Q. �€j such r) [.CUtws relate between etw .� t .•e . ] 'I : S .l� t.', r3iar:'I1ct5�', FD ,�€• eY.� :r City ;.nr. S::tl=', .�R-ldor eeof a 1 t Act. C, t i t and documents zil I:r. r._�� O€?'1 .f1'"i..rr€.a�.lc_.=� City [1�n:`,rr�,i;,5 4.111.: C�4CLirr!c.[lt5 �1�l:il'c_' p`.:.r.ri„•„'s^:t "tV contractual work are subject to the Arkansas Freedom oInformation Act. €i a €' ed 'm of information Act request is presented to the City of Fayettevllie, the (contractor) wll do e-,>erytrlrrig possible to provide the documents in a prompt and timely manner as Gres+"".€" I'1 toe Arkansas reedo€n o' information Act (A,C.A. §25'19-1"1 et. seq.). Only lc gaIiy euthorired photocopying costs pursuant to toe FOIA may be assessed for th's compliance. C. Legal jurisdi otion to resolve solveany disputes shall be Arkansas with h Arkansas 7" � r. S<. � t �i ISati law aiS,.•yi:'3� ... the case, 15. CITY INDEMNIFICATION: i he successful Pr sarFsi indemnify a 1, rr rn e s C 1 o against ' ns O}, G.,_•7ai ,��i��5 to t`I, City and bold l' M":.- �, fi'{).C. coo :al' !�=ar: �, I'O,ai!rt . loss, carnage or expe#l5c, including but not limited to counsel rees, arising tram or by reason of any actual or ciciirrraci traciernark, pa€_ent or couyr!ghlt. €#niringement or litsgatOrl based thereon, with resoect to the services or any part trif r_of covered Gv this order, an uch obligation aill e!-€: - of e 'J� vl� ��t€�€� Ji3 _'r. survive iM {.... .I� '.�i! _ T.I se re ce s and payment thereof by the City. 16. VARIANCE FROM STANDARD TERMS & CONDITIONS: Ali stanoardi terms end condit_io€`„ stated in this request for proposal apply r his i except "7:'Gs appy to this •f:r i'. ":i C'i a.;.,cl ; c e r-Ufira ly stated in the r I 'q ant 4 doof h€ r eriL which take precedence.and shp id .. fu ly p .� e }.,`sc. I.r�. _c ! n this ao.,f.,m r ';. u nderstoori by Pro +oss s prior to suarrri1:1rrg a prop•cisei on this re;lir!rement 17. ADA REQUIREMENT FOR PUBLIC NOTICES & TRANSLATION: Pei v'4ttl disahlnties requ nng easona le ccorr.m.oda i n 4r - rr a .. c''.: t o J C;cl:=.iC'=i;.�1'i. ,n i:!';�;: I}:.JC�_.�Cai'i�:fr:'J(;'?` s m d call 479,521.13 b (telecommunications devi f r e e. fi, 'i .a er € e` t. l riot ] Jays prior _2 0 the deaf Y t :old s._ir'_i. ;f t., deadline. Persons needing tran i don of this document shall contact the City of Fyttvlle, Purchasing Cvsior;, immediately. City of Eavertevsale, Alt RFP .^i..5A)6c-ai, Ssiate Bru «r Services Page 7 of 19 18. CERTIFICATE OF INSURANCE. The successful Proposer Shall provide a Certificate of Insurance in accordance with specifications Listed in this request or proposal, prior to .commencement of any work. Such certificate shall list the City of ayettevilie as an adcitior•9ai insured, Insurance shall remain valid throughout project torn lotion 19. PAYMENTS ANDINVOiCING: The Pro; esor must specify in t eir proposal the exact company name and address a"✓oicri must be the same as invoices submitted for payment a> a result of award: of this RFP. Furt 1≥ r, the successful Proposer is re;pons ble for immediately notifying the Purchasing Division of any company name change, which would cause invoicing to change from the name used at the tirr`:e of the original RFP. Payment will '.•e made within thirty days of invoice received. The City of Favetteville is very credit worthy and will not pay a€?/ interest or penalty s lr untimely pavrn€nts. Payments can be processed through Proposer's acceptance of Visa at no additional costs to the City for expedited payment processing. The City will not agree to allow any increase in hourly rates by the contract without PRIOR Fayettevifle City Council approval. 20. CANCELLATION: a. Toe City reserves the right to cancel this contract without cause by Rivirip thirty (3!0) days prior notice to the Contractor In writing of the intention to cancef or with cause if at any time the Contractor tails to fulfill or abide by any of the terms or conditions specified, b. Fa€lure of the contractor to comply with any of the provisions of the con'tracl: shall be considered a material breach of contract and shall be cause for immediate terniln3tion of the contract at the discretion of the City of Fayetteville, c. In addition to all other Legal remedies available to the City of Fayetteville, the City reserves the righf: to cancel and obtain; from another source, any Itern; and/or services which have not been delivered wt`hin the period of time from the date of order as deter tined by the City •:3f Fayetteville. d. In the event suff',ient budgeted funds are not av;ailaole For a new f seal 1eriocL the City ;hall notify he vendor of such occurrence, and contract shall terminate of the last nay of te current fiscal period without penalty o:' expense to toe City. 21. ASSIGNMENT, SUBCONTRACTING, CORPORATE ACQUISITIONS AND/OR_MERGERS; a. The Contactor shall perform th s contract. ivC ass€gI- dent of U S' ont'd!'tl ; shell be a'iloaved bvithout prior written consent of the City. If a Proposer intends to subcontract a portion: of this wont, the Proposer shall disclose such intent in the prcoosal submitted as a resu t of this RFP. b. in the event of a corporate acquisition and/or merger. the Contractor shall provide written notice to the City within thirty (30) calendar days of Contractor's notice of such action or LI )Orl the occurrence of said action, whichever occurs first. The right to terminate this contract, which Shall not be unreasonably exercised by the City, shall include, but not be limited to. instances in City or G;!y8ttevrslu, AR ri=P 15-o6, Reci 5state :smoker Serstces Page8ofJ.9 lrrlilch a corperale acquisition and/or €r r e' ree,res :^i; a ocr I.ct of ;n ,res contrary i. to t or are.1 ary local, state, or fedie ai laws ACLiOn too t'.• n ?r i `.; .:�var i F;. _ ,a€ tva iii'lrl that has Ctisciosed its intent to assign or Slif}4t)(11'r s^i::;; its r?scorise to the REP,withi:)l.₹C ecept'on shoo constitute approval foe rpose of this Agreemer=:r. 22. NO -EXCLUSIVE CONTRACT: .-AvJard of [his REP shall impose no ohi€griiionthe i ,mil -e n '3 work type, 'iJ ;, on t'-�•. City tc•' r.� the vendor for �_' Svc. k o� this _i�•, which may develica during the contract period, This is not an exc:ius =;e contract. the € it`I S '° CI'1:;ally =_" SE ₹r'iea the right 3t to concurrently contract with other companies for similar work :f it deems slid': an action in be 1n the : FIZf S best it terest In tole case of multiple-.hase contracts, F.�. :. shah E: .I, tothisseparately each item. 23. LOBBYING: Lobbying of alecUon committee members, t ( F € a Ica ? :or elected ff s r-,< e , -I---v ayettevill.. rnp'..yti;:.s, I, d officials regarding request for proposals, request for c ualiticatons, bids or contracts. during t e pendency of bid r rotes':, by the hhidder%proposeriprotcstoi, or any member o`:' the biG:ler 5 Jpo r's/protestor'o staff, and agent of the bidder/proposer/protestor, or any person emi ed by are• ii:':� l entity `+' f hl 1 i pit.' zrese •..` :, t �, ^.,V Y : 1LI s c iJ;c �:.::"i ;r fei ' .n. lr,g l: organization that is res— riding to the request for proposal, r@quest 1',s.=' :3€:;alifii:e;'Cion. bid or contract, or has a lending hid pretests strictly prohibited either €uoor advertisement or on a dates established by :'1/_ City of ayetteville and shall be prohibited until either or award is final or the protest is finally resolved by Me _=ty of Fayetteville, pro?bided, however, nothing herein shall prohibit a p rospcctiv'e/brdd rj`pro ose.' from contacting the Purchasing Division to address situations such as clarif ica and/or ues'tions related to the procurement process. For purposes of this provision lobbying arc1_ vit es shall inch ide but riot be Si -nl—' ed to, influencing or attempting to influence acton or ncin action connection with any request for provosal, request for r ui lifiCatron. l' d or contract throng director indirect oral F„ ; written or - w o tip. i:. en communication ca ion an attempt to obtain goodwill of persons arid/ it entities Specif ieo in this provision Such actions may cause any request for -proposal, request for 1ualif cation, bid or contrac€_ to 1:)e 1'' e-:tel. 24. ADDITIONAL REQUIREMENTS: The City reserves the right to request additional services relating to this REP from the Proo`)S' r When approve/ by tie City .s an amendment to the contact , u 'd' n, is s work, rll CUr C" and a,.t=1CrI..._:i I, 'rvE . ₹i : i} ; <. i+lc-. Contractor tractor sisal provide such addit :, i, :7I re:quirornen to as may beco rr+_:. nco essa 25. SERVICES AcREEMFNT: A written agreement, in sUbsi:antialiythe form i Coro )r ti t he RP non i s.. sslul _)roo )sal ( T==. .ice i r flL': ..`it' rCw`w'- :1` will be prepared by toe City,5 ned by the? S iCC'?5=,rli proposer and i t" ` of Ka; i �` p signed Froe 3SE. �rl presented file City . J TC.rte, vii e "`0r approval and signature of the Mayor. 26. INTEGRITY OF REQUEST FOR PROPOSAL (RFP) DOCUMENTS: Cityo ayettevii.1e, AR RF:' 1.5•-06, € ea', Estate Broker Se`vites ≥saga 9 of 19 Proposers shall use the original R,' P €orm(s) provided by the Purchasing Division and enter information only n the spaces where r? a response is requested. Proposers may use an attachment as an addendum to the.. RFP 'Orrn(s} if sufficient space is not available on the original form for the Proposer to enter a complete response. Any modifications or alterations to the original RFP documents by the Proposer, whether intentional or otherwise, will constitute grounds for rejection of such RFP response. Any such n=oclifi:,at ons or alterations a ProposerProposerw isf es a impose shall be clearly stated in the Pro ;oser's RFP ; espouse and presented in the farm of an addendum to the original '?FP documents. 27. OTHER GENERAL CONDITIONS; a. Proposers must provide the City with their ooposals signed by air employee having legal authority to su'hrnit proposals or: behalf of the Proposer. The entire cost of preparing and pr:oviuing responses shall be borne by the Proposer. b. € he City reserves the right to request any addit€o: al information it deems necessary from any or all Proposers after the submission deadline, c, 1 h=s solicitation is not to ne construed as an offer, a contract, or a commitment of any kind; nor does it commit the city to pay for any cos_s incurred by Proposer in preparation. It sl3al; be clearly understood that any costs incurred by the Proposer in responding to this request for proposal is at the Pro ,user's own risk and expense as a cost of doing business. The City of Fayetteville shall not be liable for reimbursement to the Proposer for any expense so incurred, regardless of whether or not the proposal is accepted. ci, If products, components, or services other than those described in this bid document are proposed, the Proposer must include compete descriptive literature for each. Al' requests for additional information must, on r; ceivo within five working days following the request. e. Any uncertainties shall be brought to the attention to Andrea Foren immediately via telephone (479.575.8220) or e-mail (aforen(n�faZettevifle-ar.eov), it is the intent and goal of the City of Fayetteville Purchasing Division to provide documents providing a clear and accurate understanding of the scope of work to be completed and/or goods to be provided. We encourage all interested parties to ask questions to enable all Proposers to be on equal terms. Any i utF='.rigs or requests for explanation in regard to the ( ity s re filirements should be made pr-orr pdy to Andre.) 1 orer', ;- t.',r of Fayettevll e, Purchasing agent via e-mail taforen= faye t.;;-v=lie' rr. o!! Car teIphorie (479.5 75.8220 . No oral interpretation or clarifications will be given as to the meaning of any part. of this re=gLiest for proposal. All questions, clar.flcations, and reClUestS, together with answer's, if any, will be pmvi ed to all firms via vvrittCo addendum. r7 . Names of firms submitting any quesrtor's, clarifications, or requests will riot be r3€sclosed until after a contract is in place. g. At the discretion of the City, one or more firms ITray be asked for more detailed information before final ranking of th firms, which may also includie oral interviews. City of to ettevi le AR RFP .15 06, Real ts:are Broker Services Gag 10 �f7.9 li. Any information provided herein is intended to assist the Proposer in the preparation of proposals necessary to properly respond to this PFP: The RF' is designed to provide puaiifie: Proposers with sufficient basic information to submit proposals meeting ri;inimum specifications and/or test requirements, but is not intended to limit a RFP'S content or to exclude any relevant or essential data, Proposers irrevocably consent that any legal action or proceeding against it under, arising cut of ,:1r in any manner relating to this Contract shall be controlled by Arkansas law. Proposer hereby expressly and irrevocably waives any claim or defense in any said action or oroceading based on any alleged lack of iUrisdiction or improper venue or 'trly sirnila basis, The successful Proposer shall nor the whole 0r any part of "h s �,:;fr3C.t r a', '' ri -- assign or is monies du or to De;""_on't`o` due hereunder without written consent of City of Fayetteville, in case the successful Proposer assigns all or any part of any monies due or to become due under this Contract, the Instrument of assignment shall contain a clause substantially to the effect that is agreed that the right of the assignee irl and to any monies due or to become clue to the successful Proposer shall be subject to p='lor liens of all persons, firms, and torpor„tioris far sc?vl_ s rendered or materials supplied for the performance of the services called for in tKs contract, k. the successful Proposer's attention is directed to the fact that all applicable Federal and State laws, municipal ordinances, and the rules and regulations of all authorities having jurisdiction over the services shall apply to the contract throughout, and they will he deemed to be included in the contract as though written out in full herein, The successful Proposer shall keep himself/herself fully informed of all laws, ordinances and regulations of the Federal, State, and municipal governments or authorities in any manner affecting those engaged or employed in providing these services or in any way affecting the conduct of the services and of all orders and decrees of bodies or tribunals having any jurisdiction or authority over same. IT any discrepancy or inconsistency should be discovered in these Contract Documents or in the specifications he_rem rei;=rred to, irl relation to any sues n law, ordinance, regulation, order or decree, s/he shall herewith report tint same in writing to the City of Fayetteville. 2S. PERIOD OF CONTRACT: Ser'v€fes performed pursuant ato tb iContract c^"%,is agreement _ ,,. r)u:.:i_t,�nt i.iiS :hail commence r_ upon execution of �cw and continue until r'. ect is completed unless 1. s canceled ed t i .h' ?3C lee , continue .. until r; �_ �:t .1.. _ �a �3iiw .. ., or termmated a within ... if: y' iu -r calendar �y� v�irit',.'.-y notice by either party. In the event of termination, claims for Conlcensatiori owes by he .„t\' shall ne limited to verifiable ser'1es reiidcrcu. City cf Fayetteville, AR RFP'15 06, tReaf Estate Broker Services Page Li of 19 City of F"jyettevihe RFP 15-06, Real Estate Broker Services SECTION 8: Scope of Services and General Information 1. PURPOSE: The Oty of Fayetteville, Arkansas, hereinafter referred to as "the City", seeks proposals in response to this Request for Proposal from experienced and r_l_lal€fied firms to provide real estate broker services for the sale of propel ties located at 2634 Old Wire Road and 2648 Old Wire Road, The City desires to enter into a listing agreement with a real estate broker for the right to list, market, and sell the properties. The Eength of the listing is negotiable. The asking price For the properties is negotiable based on input from the selected Broker and agreement by the City ciu,-)r,il. Payment 'or services will be commission based only. All sales are contingent upon anCi require City Council approval. The City reserves the right to reject any or all responses not deemed acceptable. Se ection will be primarily based upon the qualifications of Agents to perform the services outlined with this PEP 2. MINIMUM QUALIFICATIONS: Proposers shall demonstrate resources and capability to provide the materials and services as described herein. All Proposers shall submit documentation with proposal indicating compliance with the minimum qualifications. Failure to include any of the required documentation may be cause 1O1 proposal to be deemed non -responsive and rejected. The following criteria shall be €:net in order to be eligible for this contract: a. Proof of current Arkansas Real Estate Broker's license. Provide a Copy ,of current license. b. Have a nlinimurn of five S} years' experience working in residential real estate transactions; c. Demonstrate relevant experience In - arketiing residential properties; 4. Have or obtain any arid all necessary insurance including liability risuraic.e. INTENT: The City purchased the two, houses from the Dunn family in 2014 along ovith the adj ;in ng 10i - acreage to the norm h of Gulley Park. The houses were purchased witlh the intent of reselling to recover some of the expense of purchasing the pasture for the expansion of Guily Park. . TI,t-,_Ity alter efforts to sell by 3,,vner, is now seeing to sell the properties with the assistance of a iicerisei real estate broker. 4. PROPERTY DETAILS : - 2634 Old Wire Road, Fayetteville, Arkansas I. Single Family, Residential, One story, finish: brick veneer ii. Approximately :,316 square feet, more or less III. Year Built: Approximately 1963 iv. Property Acreage: 0.467--± Acres v. Current Zoning: RSF-4, Residential Single Family, 4 Units Per Acre City of Payetteville, AR RFP 15-06, Real Estate Broker Services Page 12 of 19 vi. Utility Information: 1. Water provided by: CIC,, of FaetteviUe 2. Natural Gas provided by: Source Gas 3. Electricity provided by: AEP SWEPCO 4. Sewer is provided by: City of Faye:tev Ile S. Trash services is provided by: City cr Fayetteville 6. Fire protection is provided by: City of Eavetteviiie b. 2648 Old Wire Road, Fayettevrile, Arkansas i. Single Family, Residential, One stor{, finish: brick veneer U. Approximate y ?,551 square feet, more or less iii. Year Built: Approximately 1961 iv. Property Acreage: 0.729± Acres v. Current Zoning:. RSF-4, Residential S:,n le Family, 4 Ur•uts Per Acre vi. Utility lnformatiar; 1. Water provided by: City of Fayetteville 2. Natural Gas provided by: $a:J'"ce jas 3. Erectric=Cy provided by: A;=P S>A=EPCO 4. Sewer is provided IJy: City Cf I- S. Trash, srr vi ces is provided by. -ity cf i=ayetir�viile 6, i'ire protecticin.:. i, pro ideci U.>': Cit'J of `;ayettevkle FPM. i���� � ,,//� • � , 5 "� .6 ffr. ° •�� rQ� `�' '`,;' � V city 0i Fayerteviilr_-, AR RIP €5-06, Real Est,,te Oroker Service; Page 13 0 l9 5. SCOPE OF WORK: All proposals sha i he made on the basis o`, and either meet or exceed, the requirements contained herein. While the exact range and extent or services is subject to negotiation, it is anticipated that the selected firm shall provide, at -) minimum, , arofessional broker services and adequately experienced dedicated personnel necessary to perform the following: a. Represent and assist the City with the sale of the properties. The Broker shall be paid by the :C�ty. The buyer is not required to use the Clays Broker if the buyer has his/her own representation but must submit offer through City's Broker. b. Be responsible for providing standard real estate contracts using the Arkansas Realtors Association NW Arkansas Board of Realtors Sales Contract and its accompanying documents and various banks addendums, €- applicable. c. Be responsible for cornniunicati€'g toe current market conditions to the City re r 5e nodal e(si by preparing a Brokers Price Opinion {BPO) on the sale of the properties. BPO shall be provided based an the most up to date market sales data available. d. Coordinate details of all ratified real estate contracts to ensure that contract requirements are melt in accordance with the contract timelines. These items include but are not limited to: appraisal, borne inspections, other inspections, order title work; schedule settlement, and coordinate all contract post ratification addendums with other parties involved in the transaction. e. Provide purchasers of City -owned .property with represent.at€or', in the event such buyer does not have third party representation. f. Coordinate with the se=et:trd title company to ensure lariat ail parties have submitted necessary documentation to settlement within the contract nimelines and/or dead lines, I Be available within a reasonable amount of time to show properties for the City. n. Participate in ano dccl.!'11c.'.. r negotiation an;; acgl is'tion activities which may include, but are not imit:erf to, phone calls, indiv€dual meetings, multiple- party meetings, settlement agreements, counter proposals, ob ectior s to any matters of record or issues presented, tustfications Contradictory to or in support of any issues, iegai ?roceedings and/or matters of title to property i. Advertise and market the p'opertles thrcug . various menla ;'r,J approaches io garner significant nterest in the properties. j. Present offersto yy co offers ere ,ed F ale. Gt. and :I<3 counter to the rrC . _. _ )artier: k. Provide City with monthly reports - including a list of contacts made.!, ether in response to inq€.dries or Agent initiated. I. Assist in the Title - Escrow process on behalf of the City. City par Fayettevile, AR RP 15-U6, Real Estate! l=inker Si ry cos P��gf' 14 of 19 6. PROPOSAL CONTENTS: Structure; Proposals shah heprepared simply and economically, providing a, straight forvfarci, concise description of its ab!lit'y Co meet the reouiYements for the project. Fancy nindirigs, colored dpI.:iv s, r nri N•"•amphonal material are not required. Emphasis s should be on completerees5 car clarity of content. All documents should be typewritten on standard BW K 11' white pa --,pees and bound in one volume. Exceptions Should be schematics, exhibits or other lntormation necessary to Ciodeate the. City of Fayetteville's ab1ity to accurately evaluate the proposal. Proposers shall limit pioposail to twenty..rive (2.x;1 pages or less, r `enc forms e � excluding J(lt;';43 -� raarfl resumes, f'ei�e di..NS, 3Yn}. required �Il:-`':.'fJ o` if`�. City for completion, and :af /chvider sheets, a. Backgrnund I. Connpany/Broker History, Staff Experience & Resumes -- ail proposals shah p'ov €'.lea brief history of the company including experience and resumes : nd eccoiripl€shmer':ts tha, ar.^-, r'levaant to the scope of worx stated in this proposal. li. Annual s&Cs volume of the Proposing Broker in the following tirne'fr mes 1. 2.013 total sales volu₹neMacedo, Keith cmace @fayettevil;e_ar o Becker, Paul < ibecker@fayettev₹ile-ar.gcv>; Marr, Dor dmarr@ e neviiee k' gnv' Leach, Irish ris `: <ple.er,i'i@f; yetteviile-ar.gov>; Hert'ywec k, Marsha <rnhertbveck(bJf3}tz.•ttevilie-ar.go`„°>; Partairl, Cheryl ccpartain@fayetteviltt-a:`gov%; Bec iho`d, Michele <rnb chhold@favetteWPe ar. clv;> 2. 2014 total sales volume 3. 2(x.1.5 total .albs volume, as of 06/30/2015 iii. .Proof of CUrrent Arkansas Real Estate Broker -'s license. iv. Services provided by the firm that relate to the real estate transaction process; v. Experience, credentials and association memberships of start that wili wor( on this proect. vi. Provide sample protects similar in scope and process within the past five years. vii, Provide information on relevant experience working with government agencies. viii. Provide a general description of the fm, its history, primary types of vvor''C, orgdnizar:iorral structure, etc. b. Administration, Organization, Staffing, & Work Plan r. NsIgnate agents within the office to be assigned i:o the City in performing rile serv€c:es :-:r n - _z. -I J(.•,.. tract _ _ le : _ .. 3e I.' � _. /: _._ter _� page ... ... •• ;r?v��r ;.e..., :-ril�e.�..e�e�•-..�f'ts.a�E.Agent(s) single W�i�,�' rese.€r'e�e; jiia"s€ €'e e{'';il.;t �:.: v°Ji.n Proposal in addition to a copy or the Agent(s) current Arkansas Real Estate i..i::;''_{'see. r,distinguishes�r'•='rservice°f 1 cf otbe r . ,tplain what your and zlppr oaOr frxiY dio, . S. iii. Work Plan — All arc�osa s shall provide a detailed work p exo a r; ,g h"' C. SERVICES 1%i w.lv I(:� how `ci`v ��.... out;€ned in the SCOPE. OF SER ICES section of this proposal vv lE be aC-co'el= $`. eC',E. a..d delivered to `e City. This shall be inclusive of a proposed sciedule. iv, Statement of how C..orripany/3roKer'v'vill acvertise and promote the laroperties i" feel, v. Describe ',v l it information and recommendations will be included in :he real .e tc i s transaction. tion. vi. Explain the roles and r-'espon5ioilities during thee re ai estate i} zocess both of the suomitirtg firer and the City. Cat; =l t'ay tevi ie, AR RE? 1506, Real Estate Brorer:Srrvices Page 15 of is vu. Fxpaic theemp'etalloris of Me Cit'e's boards and .staff during the real estate VanSactlon c_ References. Provide. three (3} ciient "'eferefice's, incftidirg name, title, ore d:ai: con, telephone number, and emai; adia ess for W-iich you nave performed similar scope of work for wit'lin the past five (5) years. d. Fees: Provide proposed `ees for the services defined herein. The fee shah iris ludo .ml exposes to ne reimbursed, and any other cost to be incurred by -ne City of Fayettevi.Iie The "eo structure shall be ,resented as a ;6 of the finalized and acceoteo offer, e. City Forms: Fill out and include with the proposal all City forcris included with this RFP. 7. CONTRACT FORMATION: if the negotiation produce's mutual agreement, i draft contract is a part of this package shall be constructed and forwarded to she Fayetteville City CS)WICil for final approvoi. If le rat!ai..ions with the highest ranking Proposer fall, negotiations shall be initiated withthe next hghest :'anRing Proposer until an agreement is reached. The City reserves the right to releot au l offers and end the. process W:tl"io St executing a contract. act. 8. SELECTION CRITERIA: The following criteria will be used by the City to evaluate and score responsive proposals. Proposers shall include sufficient information to allow the City to thoroughly evaluate and score the proposal. Each proposal submitted is not rer uired to be ranked by the selection committee; novvev'dr, all proposals will be etia'tiEl:eci. The contract may „e awari ed to trie most qualified firm., per the ['_VaiilatlClncriteria :Is;"ed below, based on the evaluation of tbf;; selrctk{)=.'? committee. following t1¢ evaluation of the proposals, the Selection Committee rriay request that the top ranking firm(s) make an oral presentation or be interviewed, Presentations, if applicable, %VIII take place in Fayetteville, Arkansas, Notices will be Sent by the Purchasing Division. :r 75% Qualifications in Relation to Specific Project to be Performed: Information reflecting qualifications of the firer, !1=icated specialised experience and competence of the firm in connection `:Vice the type and complexity of the senate required. 55uhcor'iu'actor'5, if ;500, shall be listed with information. i 25% FxperiencP., Competence, and Capacity for Performance. nfor r€ation reflecting the names, titles, and qualifications (including experience and competence) of the. major t er sonnel assigned to this specific project, 3) 20% Proposed Method of Doing Work: A proposed + project i•.1 work plan ,i,c?S:-l:lti0ri of how the rc _ wou d be conducted as :'veli as other facts concerning approach) inoicatirig methods and schedules for accomplishing scope of work. Include with this the „;Mount of work presently underway. 4) 15% Past Performance: Previous evaluations shall be considered. If previous evaluations with the City are not available, the professional firm's past perfoi"riia€lCt recoros with City and others will be used, including quality of work, 'timely performance, diligence, and any City of Fat etterfle, All UP 151i6, Real Estate Broker Services Page 16 of 19 other pertinent informaton, Fin -n will provide a list of sim iar jobs performed and nerso(i whom the City can contact for infor mattion. 5 15% Ctrstft'ees Proposers rs Sildil list :iii Fees and expenses ses t:;5 be paid by tile_ C,rty and shall be structured it a not to exceed manner. 9. Af3t?tTiONAL DOCUMENTS AND INFORM T£ N: The following documents rrer is are included with this sclkdtatiorr as additional information. a. AppentlixA: Ordinance 5779 b. Appendix B: Property Appr'a€sal:x Provided by Reed & Associates, Inc:.. C. Appendix C: Property Surveys provided by McCieilanal C:a rsuitl i,Engineers,, €nc, 10, ANTICIPATED PROJECT TlELUN£: (subject to change) Date Time Description Monday. July 06, 2015 N/A Advertisement of RFP Wednesday, July 29, 2015 Before 2:00:00 PM, Deadline to submit sealed Proposals to the City of local tirtie Fayetteville — Room 306 in City Hall City of Fayetteville, AR RFP 15-.06, Real Estate Broker Services Page 17 ar 19 City of Fayetteville RFP 15-06, Real Estate Broker Services SECTION C: Signature Submittal 1. DISCLOSURE INFORMATION Proposer must disclose any possible conflict of interest with the City of Fayetteville, including, but not limited to, any relationship with any City of Fayetteville employee. Proposer response must disclose if a known relationship exists between any principal or employee o€ your firm and any City of Fayetteville employee or elected City of Fayetteville official, If, to your knowledge, no relationship exists, this should also be stated in your response. Failure to disclose such a relationship may result in cancellation of a purchase and/or contract as a result of your response. This form must be completed and returned in order for your bid/proposal to be eligible for consideration. PLEASE CHECK ONE OF THE FOLLOWING TWO OPTIONS, AS IT APPROPRIATELY APPLIES TO YOUR FIRM: 1) NO KNOWN RELATIONSHIP EXISTS At 2) RELATIONSHIP EXISTS (Please explain: of >everA.1 p4► e- t 2. I certify that; as an officer of this organization, or per the attached letter of authorization, am duly authorized to certify the information provided herein are accurate and true; and my organization shall comply with all State and Federal Equal Opportunity and Non -Discrimination requirements and conditions of employment. 2. PRIMARY CONTACT INFORMATION At the discretion of the City, one or more firms may be asked for more detailed information before final ranking of the firms, which may also include oral interviews. NOTE: Each Proposer shall submit to the City a primary contact name, e-mail address, and phone number (preferably a cell phone number) where the City selection committee can call for clarification or interview via telephone. Corporate Name of Firm; Primary Contact: - r 1t~/Z. Title of Primary Contact: _ ~� ,' ✓ 1 e �_ Phone#1 (cell preferred): 7?=, - -75 Phone#2: 9'7 S 2-e - � E_4 E -Mail Address: 3. ACKNOWLEDGEMENT OF ADDENDA Acknowledge receipt of addenda for this invitation to bid, request for proposal, or request for qualification by signing and dating below. All addendums are hereby made a part of the bid or F FP documents to the same City of Fayetteville, AR RFP 1S-©6, Real Estate Broker Services Page 18 of 19 extent as though it were originally included therein. Proposers/Bidders should indicate their receipt of same in the appropriate blank listed herein. Failure to do so may subject vendor to disqualification. ADDENDUM NO. SIGNATURE AND PRINTED NAME DATE ACKNOWLEDGED 4. PRICING: Pricing shall be attached as a separate form. Reference Proposal Contents section for details on how pricing snail be structured. 5.DEBARMENT CERTIFICATION: As an interested party on this project, you are required to provide debarment/suspension certification indicating in compliance with the below Federal Executive Order. Certification can be done by completing and signing this form. Federal Executive Order (E.O.) 12549 "Debarment and Suspension" requires that all contractors receiving individual awards, using federal funds, and all sub -recipients certify that the organization and its principals are not debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded by any Federal department or agency from doing business with the Federal Government. Signature certifies that neither you nor your principal is presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation in this transaction by any federal department or agency. Questions regarding this form should be directed to the City of Fayetteville Purchasing Division. NAME OF COMPANY: A t4/ - {c PHYSICAL ADDRESS: xs De4 MAILING ADDRE55:.._.. A iy PRINTED NAME: M AtUc i -• t ..a r;- i4X€ j:: (2 PHONE; 2f3 ( C)7C� FAX: t r ,J�? E-MAIL: 5 -_ SIGNATURE: �" TITLE: DATE; , _ "-- :L____ City of Fayetteville, AR RFP 15-06, Real Estate Broker Services Page 19 of 19 The preceding value estimate is based upon the following Extraordinary Assumptions: 1. That the subject and adjacent properties are in compliance with all applicable EPA regulations; 2. That the subject excess acreage does not need a second point of ingress/egress; 3. That the subject dwellings are structurally sound, and are not adversely affected by the presence of mold or other environmental issues; 4. That the plumbing, electrical, and HVAC systems in the subject dwellings are in proper working order: and, 5. That the subject land and dwelling sizes are approximately as indicated. If any, or all, of these Extraordinary Assumptions prove to be untrue, the preceding value estimate could be influenced. The reader is referred to additional Assumptions and Limiting Conditions appearing in the Introduction Section of this report. The estimated exposure time for the subject property is one± year or less. This was determined from an analysis of market conditions and comparable sales. At the request of the client, the contributory value of each of the subject parts to the market value of the subject whole property is broken down as follows: 2634 Old Wire Rd. Hontesite (0.50± AC) _ $111,500 2648 Old Wire Rd. Homesite (0.75± AC) = $218,500 9.7± ACS of Excess Land = $640,000 Sincerely, Brian J. Kenworthy, CG3496 REED & ASSOCIATES, INC, Exclusive Right -to ell Capyri5 2015 lit Agreement (Residential) f.� ? �, fnL11 A�rrkan/saas C0VaI-A{0U31?!F REAL 7 T0RV Page 1 of RF ki.Til'c 0F"O TJ',s1'Y Association Form Serial Number: 006221-00074.3-75©8326 1. RIGHT -TO -SELL: In consideration of the services of REAL ASSETS INC / MARK A. BREWER ABR,CRS GR1 PRINCIPLE BROKER . (by and through the Principal Broker, or agent thereof assigned by Listing Firm)(hereafter collectively called "Listing Firm"),for the purpose of assisting in the possible sale or exchange of the real property described in Paragraph 2 (the "Property"), and 2634 OLD WIRE RD -- & 2648 OLD WIRE ROAD FAYETTEVILLE, AR -CITY OF FAYETTEVILLE being the sole owner(s) of the Property (hereafter called "Seller"), Listing Firm and Seller agree that Listing Firm shall have the exclusive right to market the Property for the Listing Period described in Paragraph 4. Seller does hereby certify and represent that Seller has peaceable possession of the Property, including all improvements and fixtures thereon, and the legal authority and capacity to convey the Property by a good and sufficient genera! warranty deed, free from any liens, leasehold or other interests, except as may be set forth in Paragraphs 18 and 21, 2. ADDRESS AND LEGAL DESCRIPTION OF THE €PROPERTY: 2634 OLD WIRE ROAD FAYETTEVILLE, ARK :LEGAL TO FOLLOW. 2648 OLD WIRE ROAD FAYETTEVILLE, ARK: LEGAL TO FOLLOW. 3. OFFERING: Listing Firm agrees to use reasonable effort to solicit an offer(s) to purchase the Property in the amount of $0.00 (the "Offering Price") but will present for Seller's consideration any offer to purchase the Property received by Listing Firm regardless of choices in Paragraph 11. Seller agrees to refer to Listing Firm all offers and inquiries received by Seller regarding the Property during the term of this Exclusive Right -to -Sell Agreement. 4. LISTING PERIOD: This listing begins at 12:01a.m. on (month) .July (day) 21 , (year) 2015 and expires at 11:59 p.m. on (month)______ (day)_. 30 , (year) 281 , unless extended by mutual written agreement of Seller and Listing Firm (the "Listing Period"). 5. CONVEYANCE: Unless otherwise specified, conveyance of the Property shall be made to any person (hereinafter called "Buyer")submitting an offer that is accepted by Seller, and such conveyance shall be made as directed by Buyer, in fee simple absolute by general warranty deed, Unless expressly reserved herein, Listing Firm may represent to the public that the Property is to be sold inclusive of all mineral rights owned by Seller concerning and located on the Property, if any. Seller warrants and represents to Listing Firm and authorizes Listing Firm to inform prospective buyers that only the signatures set forth below are required to transfer legal title to the Property. Page 1 of 7 S [trial1 966227-6Q�1743.750@326 Prep and by: Ma'k 9ea,er i Real l', se,s :nark ru���" asaetsi.[,,.cain i Exclusive Right -to -Sell zany fl,�a015 Agreement (Residential) .wrrr Arkansas Page 2 of 7 EQUAL RQW no REALTORS tr nt ray OPPQiF�4_FY Association Form Serial Number -,006227-000143-7508326 6. ABSTRACT OR TITLE INSURANCE: merchantable title by: (i) current and complete upon purchase price. Seller has legal ability to furnish Buyer evidence of good and abstract of title or (ii) title insurance in the amount of any agreed - 7. CLOSING PROTECTION: Seller shall have the right to request that title insurer(s), if any, issue closing protection to indemnify against loss of closing funds because of acts of a Closing Agent, title insure€'s named employee, or title insurance agent. Any cost for closing protection will be paid by the requesting party(ies). Listing Firm strongly advises Seller to inquire of the Closing Agent(s) about the availability and benefits of closing protection. To insure all funds have been properly disbursed, Seller has been advised of the availability of purchasing a Closing Protection Letter, an additional binder to be added to the Title Insurance Policy at closing. 8. LISTING FIRM'S FEE: If Listing Firm presents to Seller an offer in an amount equal to or greater than the Offering Price, or such lesser price or terms as Seller may accept, or if the Property is otherwise sold or disposed of by Listing Firm or any other person, including Seller, during the Listing Period, Seller agrees to pay Listing Firm a professional fee of either: ❑x A. SIX percent (_6%) of the gross amount of any accepted Real Estate Contract or value of any property exchanged for the Property plus $0.00 for professional services rendered; or ❑ B. $ for professional services rendered. If co -brokerage applies, said fee shall be divided: (i) % of the Purchase Price plus $ to Listing Firm and of the Purchase Price to Selling Firm. J (ii) Other: SIX % OF THE SALES PRICE - SPLIT BETWEEN BROKER /CO AS THERE MAY BE A LIST BROKER & A SELLING BROKER FIRM. I SALE 93% OF ALL MY LISTINGS In consideration for Sellers promise contained within this Paragraph 8, Listing Firm promises to Seller that it will use reasonable effort to market the property and solicit an offer regarding the Property with terms and conditions acceptable to Seller, provide additional marketing services as deemed appropriate by Listing Firm and coordinate the closing. Seller agrees that Listing Firm is not required to investigate the financial or other ability of a prospective buyer to consummate any proposed or accepted Real Estate Contract. Seller will not owe a fee to Listing Firm if Buyer does not remove any condition set forth in a Real Estate Contract and cannot close, unless failure to close is the result of breach of a Real Estate Contract by Seller. 9. EXPIRED LISTING CONDITIONS: Seller agrees to pay the professional fee set forth in Paragraph 8 to Listing Firm if the Property is sold or otherwise disposed of: A. during the Listing Period, as defined in Paragraph 4; B. during a period of 30 days (the "Post -Term Period") after the Listing Period when information given by or obtained through Listing Firm during the Listing Period resulted in or contributed in any manner to the sale or disposal of the Property, regardless of procuring cause; or C. at any time after expiration or termination of this Exclusive Right -to -Sell Agreement (including termination by Listing Firm as specified in Paragraph 10 below) when information obtained through Listing Firm during the Listing Period was the procuring cause of the sale or disposal of the Property. However, if Seller employs another real estate firm as exclusive agent for marketing the Property after expiration of this Exclusive Right -to -Sell Agreement, Seller shall pay only one professional fee, and that to the currently employed real estate firm. Page 20f7 Seri a!m. 006227.000143-7509320 Fred bv; MK F#reNer ! Heal Aase!a I Ia ssPlg.r:L.00r15 Exclusive Right -to -Sell Agreement (Residential) Arkansas WuAL,ruasm REALTORS' Page 3 of 7 I moAssociation Form Serial Number: 006x27 -000143-750832G 10. CANCELLATION: Seller may cancel this Exclusive Right -to -Sell Agreement prior to its expiration date without in any manner affecting the indemnities provided by Paragraph 20 and the provisions of Paragraph 9. Such cancellation will be effective only after: 1) Seller has provided written notice to Listing Firm, sent by United States certified mail, return receipt required, and 2) Seven (7) calendar days have elapsed since such written notice was received by Listing Firm. Upon the effective date of cancellation, Seller shall be liable to Listing Firm for a cancellation fee equal to: 1J A. THREE _percent (__ 3%) of the Offering Price set forth in Paragraph 3, or ❑ B. the liquidated sum of $__________ it being agreed by Seller and Listing Firm the liquidated sum is not a penalty and is agreed to because damages incurred by Listing Firm resulting from cancellation by Seller will be difficult to ascertain, and the amount set forth in the blank (even if $0) shall be in addition to and not a limitation of the sums due Listing Firm pursuant to Paragraph 9 (Expired Listing Conditions) of this Exclusive Right -to -Sell Agreement, Listing Firm may cancel this Exclusive Right -to -Sell Agreement at any time, with or without cause, by providing written notice to Seller. In the event of cancellation by Listing Firm, Seller shall not be responsible for compensation to Listing Firm, unless: (i) Seller shall have breached the terms of this Exclusive Right -to -Sell Agreement or (ii) Listing Finn is entitled to compensation pursuant to Paragraphs 8 and 9. 11. TYPES OF AGENCY: Seller fully understands the agency options available below, and agrees that Listing Firm will be the agent of Seller and will market the Property utilizing the agency options selected below; however, listing Firm will present to Seller all offers received regardless of agency options selected. In addition to Listing Firm marketing the Property to prospective buyers, Seller chooses to allow Listing Firm to use the following options (Choose as many options as desired to market Property): ❑ A. SUBAGENCY: Seller hereby authorizes Listing Firm to offer Subagency to real estate licensees other than Listing Firm and acknowledges that Seller may be responsible for the actions of Listing Firm and any subagents who accept the offer of Subagency. Listing Firm will provide disclosures and information about the Property necessary to assist Listing Firm and any subagents in performing their duties and responsibilities to Seller. Seller authorizes Listing Firm to pay from Listing Firm's fee agreed upon in Paragraph 8 a share deemed competitive, Listing Firm's policy having been explained to and hereby acknowledged by Seller. NOTE: Seller understands if Subagency is the only option selected any prospective buyers represented by Listing Firm will not be shown the Property. Seller further understands that real estate licensees other than Listing Firm may forego presenting the Property to their clients. ® B. BUYER AGENCY: Seller acknowledges Listing Firm is employed by Seller and Selling Firm is employed by Buyer. All licensees associated with Selling Firm are employed by, represent, and are responsible to the Buyer. Seller authorizes Listing Firm to make payment as set forth in Paragraph 8, C C. AGENT REPRESENTS BOTH: Seller hereby consents that Listing Firm may represent both Buyer and Seller. Should Listing Firm represent both Seller and Buyer, Seller agrees to the following: (1) Listing/Selling Firm shall not be required to and shall not disclose to either Buyer or Seller any personal, financial or other confidential information concerning the other party without the express written consent of that party; however, Seller agrees Listing/Selling Firm shall disclose to Buyer information known to Listing/Selling Firm related to defects in the Property and such information shall not be deemed "confidential information." Confidential information shall include but not be limited to any price Seller is willing to accept that is less than the Offering Price or any price Buyer is willing to pay that is higher than that offered in writing. (ii) 8y selecting this option 11C, Seller acknowledges that when Listing Firm represents both Seller and Buyer a possible conflict of interest exists, and Seller agrees to forfeit individual rights to receive the undivided loyalty of Listing Firm. (iii) Any claim now or hereafter arising out of any conflicts of interest from Listing Firm's representation o₹ both Seller and Buyer is waived. Page 3d? Sec 006227-006143,7506326 Er- ,:;3 Kr: mark Brev:sr I R;;sl nsr:ts q a�urxf ro�tnssw�ir,ccnm Exclusive Right -to -Sell fli f CO2 ht 2045 Agreement (Residential) Pago 4 of 7 IJIArkansas eovac !UUs!NG REALTORSO Association Form Serial Number: 00622x-000?43-?'506326 12. EARNEST MONEY: Seller authorizes and instructs Listing Firm to accept and deposit in Listing Firm's trust account all Earnest Money (if any) received. Should a deposit of Earnest Money (if any) be forfeited, the money shall be divided as follows: Payment shall first be made of all direct expenses incurred in connection with the contemplated transaction, and the balance shall be divided one-half to Listing Firm and one-half to Seller, but in no event shall Listing Firm receive an amount in excess of the fee that would have been received if the sale had been consummated. If a dispute between Seller and any other person or entity arises concerning the Earnest Money (if any), Seller authorizes Listing Firm to interplead the disputed Earnest Money (if any) in a court of law or to an arbitrator and to have Listing Firm's costs and attorney's fees paid from the funds entered for interpleading. Seller acknowledges and understands that Listing Firm is not responsible for obtaining good funds regarding Earnest Money (if any) tendered by prospective or actual buyers. 13. FAIR HOUSING: Seller agrees Listing Firm will market the Property to interested persons without regard to race, color, religion, sex, national origin, handicap, sexual orientation or familial status. Additionally, Seller agrees that Listing Firm and Seller must comply with all state and federal laws while performing this Exclusive Right -to -Sell Agreement. 14. LEAD -BASED PAINT DISCLOSURE: Seller agrees to provide a Lead -Based Paint Disclosure (as required by Federal Law) if the subject Property or any of the improvements were constructed prior to 1978. 15. MULTI -LIST SERVICE AND INTERNET: Seller warrants, represents and authorizes Listing Firm to offer the Property in a multi -list or co-op brokerage, subject to the options selected in Paragraph 11, and comply with all rules and regulations associated with multi -list or co-op brokerage. Seller makes the following elections regarding the transfer of Property information by the Listing Firm's Multiple Listing Service to other Internet websites: (Choose Option A or S) A. Seller elects to allow the transfer of Property information to other Internet websites to be displayed on the Internet, ❑x Seller elects to allow the address of the Property to be displayed on these Internet websites. ❑K Seller elects to allow the Property to have an auto valuation on these Internet websites. ❑K Seller elects to allow written comments or reviews (blogging) when the Property is displayed on these Internet websites. (If checking A, check all above that apply.) ❑ B. Seller elects NOT to allow the transfer of Property information to other Internet websites. Seller understands and acknowledges that consumers who conduct searches for listings on the Internet may not see information about the Property in response to their search. This election covers the transfer of information to other Internet websites by the Listing Firm's Multiple Listing Service. Listing Firm cannot control Property information appearing on Internet websites which obtain information from sources other than the Listing Firm's Multiple Listing Service. 4 of 7 Serial'; 006227,0001143-7509324 Prspsri J ey::Mar0 Clrewer I Foal Assess i mark! reis:setstnc corn I Exclusive Right.to Sell Copyright (Residential)If 9Agreement Arka as Page 5 of 7 _ �� ,0��3;G {{'+_'i1_ ii '< /'R7J H37! REALTOMR Asooclatror, Form Serial Nurtther;006227=000143-7S08326 16. SELLER WARRANTY, REPRESENTATION AND AUTHORIZATIQN.- Seller warrants and represents to Listing Firm that no other exclusive representation or exclusive agency agreement is in force. Seller understands that if the warranty representation contained herein is not true, Seller is strongly encouraged to seek legal advice concerning the possibility of liability for two or more commissions before signing this Exclusive Right -to -Sell Agreement. Unless otherwise specified, Seller warrants, represents and authorizes Listing Firm to take the following actions as deemed appropriate by Listing Firm: A. divulge, with Seller's approval, the existence of offers on the property in response to inquiries from potential buyers or cooperating brokers; B. display a For Sale and Sold sign as deemed appropriate by Listing Firm; C. use a key or lock box for entry when Seller is absent, and access the Property by using a keyed or keyless lock -box system; D. acquire loan, utility and other financial information reasonably necessary to market the Property; E. add or change descriptive information when necessary to market the Property; F. use reasonable effort to distribute to all prospective buyers any disclosure form provided unless contrary wishes are conveyed to Listing Firm by a prospective buyer; G. use reasonable effort to discover other information that has a material effect on the value or desirability of the Property (Seller agrees that any disclosure form, if provided, contains all information that has a material effect on the value or desirability of the Property to Seller's knowledge); H. hold an Open House or advertise the Property when Listing Firm believes it is advantageous in marketing the Property; I. photograph, videotape or reproduce the image of the interior and exterior of all Property described herein by any prospective buyer (including those produced by sub -agents or agents representing a person or entity other than Seller); and J. engage, at no cost to Seller, the services of a centralized appointment scheduling service to contact Seller for the purpose of scheduling appointments to view the Property to assist Listing Firm (and sub -agents thereof) and agents for persons interested in viewing the Property. Seller acknowledges such service will not be performed by licensed real estate agents or persons licensed with or employed by Listing Firm. 17. HOME -WARRANTY PLANS: Seller understands the benefits of a home -warranty contract, which may include coverage for most major appliances, plumbing, electrical, heating and air-conditioning systems. The home -warranty contract covers unexpected mechanical failures due to wear and tear and is subject to a per -claim deductible. The availability of a home -warranty contract, cost and applicable deductible have been explained to Seller and Seller chooses: A. No home -warranty contract concerning the condition of any real or personal Property to be conveyed from Seller to Buyer for any period after the closing or for Seller during the Listing Period. B. A limited home -warranty plan will be provided to Buyer concerning the condition of the Property and will be paid for by Seller at a cost not to exceed $ _ plus sales tax. This home -warranty contract will not imply any warranty by Seller after closing, and the items covered by said home -warranty contract will be agreed to by a separate agreement between Seller, Buyer and Warranty Company. Coverage's vary and the coverage received will be solely set forth in the home -warranty documents between Buyer and Home Warranty Company, _ _._ w _........ and no representation or explanation will be provided by Seller, Selling Firm or Listing Firm, Buyer being solely responsible to determine the extent and availability of coverage. Listing Firm and!or Selling Firm may receive compensation from the warranty company. ❑ C. Other Warranty: Page 5 of 7 $eriaig OO6227.000143-7500326 Rr@ierer b,: Mtn 5r,',r r I RR$1 AGSOl5 ? R73i4? rEalv�951;'.uIF.C Cam Exclusive Right-to-SelI Agreement (Residential) kans Arkansas Page 6 of 7 REAL r�3Y EQUAL HOUSING REALTORS-' fl OGPORTUNITY Association ..w....,..,.,«, -,....,.....,..a.»...... .:....�._..ti_u.._._....�._. .. ..«- .+..-.. ...... _.............4...m.•wu.-.. 'ORM SERIAL NUMBER: 666227-00oi43-7Soe326 18. FIXTURES AND ATTACHED EQUIPMENT: Unless specifically excluded herein, Listing Firm may represent to the public that all fixtures and attached equipment, if any, are included in the Offering Price set forth in Paragraph 3. Such fixtures and attached equipment shall include but not be limited to the following: dishwasher, disposal, trash compactor, ranges, ovens, water heaters, exhaust fans, heating and air-conditioning systems, plumbing and septic systems, electrical system, intercom system, ceiling fans, window air conditioners, carpeting, indoor and outdoor light fixtures, window and door coverings and related hardware, gas or electric grills, awnings, mail boxes, garage door openers and remote controls, water softeners, antennas, television satellite receiving equipment, propane and butane tanks, fireplace inserts, ______m and all items bolted, nailed, screwed, buried, or otherwise attached to the Property in a permanent manner, except the following: PROPERTY BEING SOLD AS IS ,HOW IS, WHERE IS, BY THE APPROVAL OF THE CITY OF FAYETTEVILLE & ITS OFFICERS 19. SELLER'S STATEMENT: Seller warrants that all information furnished to Listing Firm concerning the Property, including without limitation the information set forth in any disclosure form that may be attached hereto and incorporated herein, is complete and accurate to Seller's knowledge and that no material facts have been withheld from Listing Firm. Unless a potential buyer desires not to obtain a copy of a disclosure form (as evidenced by an oral statement or in a Real Estate Contract), Listing Firm is authorized to use reasonable effort to disclose to any member of the public interested in the Property any disclosure form that may be attached hereto, or any other material information known or made known to Listing Firm about the Property, including without limitation any defects relating to the Property. Seller agrees to defend, indemnify, save and hold Listing Firm harmless from all liability or claims arising from Seller's incorrect or undisclosed information. Seller agrees to notify Buyer and Listing Firm in writing of any changes in any disclosure form or otherwise concerning the Property that become known to. Seller. 20. LIMITATION OF RESPONSIBILITY: Listing Firm shall not be responsible for the maintenance, repair or condition of the Property or for damage of any nature affecting the Property, unless such responsibility is assumed by Listing Firm by separate agreement. Seller hereby covenants and agrees to indemnify Listing Firm and hold Listing Firm harmless from any and all liability, obligations or demands made by third parties against Listing Firm as a result of Listing Firm's marketing of the Property, including but not limited to damage or injury to Property or persons and reasonable attorney's fees. Listing Firm encourages Seller to maintain insurance coverage to adequately protect the Property and those individuals who may be on the Property. Seller understands Listing Firm does not insure the Property in anyway. 21. SPECIAL CONDITIONS:PRQPERTYIS TO BE DISCUSSED AS TO THE TRUE VALUE IN A 60,90,120 DAY SALE. 22. GOVERNING LAW: This Exclusive Right -to -Sell Agreement shall be governed by the laws of the State of Arkansas. 23. SEVERABILITY: The invalidity or unenforceability of any provisions of this Exclusive Right -to -Sell Agreement shall not affect the validity or enforceability of any other provision of this Exclusive Right -to -Sell Agreement, which shall remain in full force and effect 24. MERGER CLAUSE: This Exclusive Right -to-Sell Agreement, when executed by both Listing Firm and Seller, shall contain the entire understanding and agreement between Listing Firm and Seller with respect to all matters referred to herein and shall supersede all prior or contemporaneous agreements, representations, discussions and understandings, Dral or written, with respect to such matters. 25. ATTORNEY'S FEES: Should Listing Firm or Seller initiate any type of administrative proceeding, arbitration, mediation Dr litigation against the other (or against an agent for the initiating party or agent for the non -initiating party), it is agreed by _isting Firm and Seller (aforementioned agents being third -party beneficiaries of this Paragraph 25) that all prevailing parties shall be entitled to an award of their respective costs and attorney's fees incurred in defense of such initiated action against :he non -prevailing party. Page 6 of 7 Seri alit: 00622T •000143.? 508325 Prepared py. Mark Bremer I Raal ASsate mark@re2lasselsfr:coom j Exclusive Might -to -Sell c2015 t Agreement (Residential) U Arkansas eatiaL400-SINS REALTORSO Page 7 o TO tt araortu iry Association FORM SER(AL NUMBER.0U62270o©t4a-/508326 26. ENTIRE AGREEMENT, MODIFICATION LIMITED: This Exclusive Right -to -Sell Agreement constitutes the entire agreement concerning the subject matter hereof between Seller and Listing Firm and supersedes all prior or contemporaneous agreements, representations, discussions and understandings, oral or written, with respect to such matters. This Exclusive Right -to -Sell Agreement may not be modified except in writing executed by both Seller and Listing Firm. Any contract entered into by Seller and Buyer shall not affect this Exclusive Right -to -Sell Agreement. 27. TIME: Seller and Listing Firm agree time is of the essence with regard to all times and dates set forth in this Exclusive Right -to -Sell Agreement. Unless otherwise specified, days as it appears in this Exclusive Right -to -Sell Agreement shall mean calendar days, Further, all times and dates set forth in this Exclusive Right -to -Sell Agreement refer to Arkansas Central time and date. 28. COUNTERPARTS: This Exclusive Right -to -Sell Agreement may be executed in multiple counterparts each o€ which shall be regarded as an original hereof but all of which together shall constitute one in the same. THIS IS A LEGALLY BINDING AGREEMENT WHEN SIGNED BY THE PARTIES BELOW. READ IT CAREFULLY. YOU MAY EMPLOY AN ATTORNEY To DRAFT THIS FORM FOR YOU. IF YOU DO NOT UNDERSTAND THE EFFECT OF ANY PART, CONSULT YOUR ATTORNEY BEFORE SIGNING, REAL ESTATE AGENTS CANNOT GIVE YOU LEGAL ADVICE. THE PARTIES SIGNED BELOW WAIVE THEIR RIGHT TO HAVE AN ATTORNEY DRAFT THIS FORM AND HAVE AUTHORIZED THE REAL ESTATE AGENT(S) TO FILL IN THE BLANKS ON THIS FORM. THIS FORM 15 PRODUCED AND COPYRIGHTED BY THE ARKANSAS REALTORS® ASSOCIATION. THE SERIAL NUMBER BELOW IS A UNIQUE NUMBER NOT USED ON ANY OTHER FORM. THE SERIAL NUMBER BELOW SHOULD BE AN ORIGINAL PRINTING, NOT MACHINE COPIED, OTHERWISE THE FORM MAY HAVE BEEN ALTERED. DO NOT SIGN THIS FORM IF IT WAS PREPARED AFTER DECEMBER 31, 2015. FORM SERIAL NUMBER.Uo5227-000143-7508326 The above Exclusive Right -to -Sell Agreement is executed on (month) _(day)_.,.,, (year) _, at., ______ ,A�, ❑(a.m.) D(p.m.). REAL ASSETS INC IMARK A. BREWER ABR, CRS, GRI Listing Firm Signature: Printed Nema. MARK A. OREWER ABR,•CRS,GR! Principal or Executive Broker Signature: Printed Name: MARK A. BREWER ASR,CRS,GR! Assigned Associate SP., aP®: 008227.00614].7560316 FrepareeDy:Mark3tewet I RealASSVIS I mark#yrealasselaiiccem I Signatu Printed Name:_,—,,, Seller Signature: Printed Name: St:Iler Seller's Address City, State Gip Sellers Phone Seller's e-mail Address Seller's e-mail Address Page 7 of 7