HomeMy WebLinkAboutContract 1919
EXCLUSIVE REPRESENTATION AGREEMENT (Revised)
The undersigned, City of Columbia Heights, hereinafter known as "Principal" hereby
appoints Welsh Companies, LLC., a licensed real estate broker, hereinafter known as
"Welsh," as its "Agent" with the exclusive and irrevocable right to represent the
undersigned in negotiating and consummating a transaction to acquire property for the
construction of a new municipal liquor store. Principal presently is located at 590 40th
Avenue N.E., Columbia Heights, MN, 55421.
1. Time
The period of this agency agreement shall begin March 1st. 2006 for as long as
negotiations continue, but will not extend past March 1st. 2007 unless agreed to in
writing by both parties.
2. Prooertv and Authoritv
Welsh is authorized to:
a. Negotiate for the purchase property, but not to commit Principal to a purchase of
any property with Principle's signature, or to sign any instruments on behalf of
Principal or to incur any costs for the above services.
b. Make available to Principal all information needed in the decision-making
process concerning various alternatives.
c. Initiate and coordinate the appraisal of the property. Obtain at least three bids
from commercial appraisers from which Principle can select preferred appraiser.
3. Purooses
a. To manage the acquisition process to ensure adherence to the Uniform
Relocation Assistance and Real Property Acquisition Policies Act of 1970 made
by the Uniform Relocation Act Amendments of 1987 Title IV of the Surface
Transportation and Uniform Relocation Assistance Act of 1987.
b. To negotiate in collaboration with Principal the purchase of property at the best
terms and conditions for Principal.
c. To be assured the final decision is consistent with prevailing market conditions.
d. To save valuable time of Principal by maximizing the quantity and quality of
necessary information required to obtain the property.
e. To co-ordinate in conjunction with Principle the closing on the acquisition of the
property .
4. ComDensation
Principal agrees to pay Welsh a fee of three percent (3%) of the purchase price of
the Properties.
5. Disclosure of Representation
Principal agrees to appraise all interested owners, developers, landlords, brokers
and agents, of Welsh's appointment as exclusive agent. Welsh agrees to exercise
reasonable effort and due diligence to achieve the purpose of this Agreement.
Further inquiry and all proposed properties are to be referred to Welsh.
AGENT:
PRINCIPAL:
WELSH COMPANIES, LLC.
By: LL 110- U...---
ary . terson
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952.897.7700
FAA 952.842.7700
URL wwvv welsheD com
I WELSH
COMMERCIAL REAL ESTATE SEI\VICES, WORLDWIDE
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7807 Creekndge Circle
Minneapolis, MN 55439
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