A Sample Agreement to Represent Purchaser

Peak Realty LTD. AGREEMENT TO REPRESENT PURCHASER BETWEEN                                                                   (the "Client") AND                  Peak Realty LTD.                  (the "Agent") 1. PURPOSE: The Client, having previously received "Information About Real Estate Relationships" from the Agent, retains the Agent as the Client's exclusive agent to assist the Client in locating and negotiating the acquisition or lease of real property generally described as: __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ during the term of this agreement. 2. TERM: This Agreement commences when signed and, subject to Sections 5 and 7, ends at 11:59 p.m. on ____________________________________, 20______. 3. AGENT'S REPRESENTATIONS: The Agent represents that it is duly registered pursuant to The Real Estate and Business Brokers Act, Ontario. The Agent shall designate: __________________________________ as its representative to the Client with respect to this Agreement. 4. AGENT'S SERVICES: The Agent shall use the professional real estate knowledge and skills of its designated representative and endeavour to represent the Client in locating property which is suitable to the Client and available for acquisition, and to procure acceptance of an offer by the Client to acquire such property, Agent agrees to endeavour to show Client available properties in the market area in which the Agent's designated representative operates and which appear to meet Client's requests and specifications and are listed in the multiple listing service or are otherwise known to the Agent or are brought to the Agent's attention by the Client. Agent shall have no obligation to show any property to which the Agent or Client is unable to obtain access or to which access is refused and Agent shall not be obliged to waive, limit or reduce the compensation specified herein as a condition of access. Agent shall be under no obligation to search out or find properties that are not listed in the local multiple listing service and Agent makes no representation or guarantee that Client will be shown all properties in the aforesaid market area which may be of possible interest to Client. 5. AGENCY: The Client and the Agent agree that Agent will act solely on Client's behalf, except where Client considers the acquisition of properties which may be listed by Vendors through exclusive or Multiple Listing Service (MLS) contracts with the Agent. In such cases, Client understands and agrees the Agent may not represent both the Client and the Vendor unless the Agent secures the consent of both, and with such consent must proceed in a modified manner. The Client hereby __________________________ (gives/declines) consent for the Agent to act as a dual agent in such circumstances. The Client understands that dual agency may create conflicts of interest, and that the Agent cannot represent the interests of one party to the exclusion or detriment of the interests of the other party. The Client understands that, if the Client consents to the Agent acting as a dual agent, then the Agent will endeavour to be impartial as between Vendor and Client; and except as expressly provided in part (c), the Agent, in its capacity as a dual agent, may disclose to both Vendor and Client all information which the Agent believes to be material or which may affect the Vendor's or Client's decisions with respect to the proposed acquisition, whether or not the information would be confidential if the dual agency did not exist: and a dual agent has no responsibility to make recommendations or suggestions, or advise as to price. The Agent hereby cautions Client that no information (other than price) which may be received by the Agent from a Client or Vendor, when Agent is acting as dual agent, can be treated as confidential so far as the other of them is concerned. The Client acknowledges that the Agent may have some information from the Vendor relating to properties the Client may wish to acquire that may not be shared with the Client. Included in such information may be information that is known to another Sales Representativeresentative of the Agent that is not known to the designated representative. The Client releases the Agent and the designated representative from any liability for any loss the Client may incur by reason of the non-disclosure of any such information. It is acknowledged by the Client that a situation could arise that will cause the Agent to conclude that it can no longer properly represent both the Client and the Vendor. In such an event the Client agrees that the Agent may continue to represent the one of the Client or the Vendor with whom the Agent has the longest standing relationship, and cease to represent the other of them. 6. CLIENT'S ROLE: The Client agrees to furnish the Agent with relevant information that will assist the Agent to represent the Client. During the term and any extension of this Agreement, the Client agrees to contact the representative designated above before signing any other document of any nature which involves the purchase, exchange, or lease of property as generally described in Section 1 of this Agreement. During the term and any extension of this Agreement, the Client agrees to contact the representative designated above before contacting any Vendor, Mortgagee or other Real Estate Salesperson, whether or not such other Salesperson is associated with the Agent, about any advertisement or sign to do with property as generally described in Section 1 of this Agreement that may be for sale, whether new or resale, listed or not, or for exchange or lease. Client shall contact the designated representative of the Agent prior to entering any "Open House" during the term and any extension of this Agreement, so as to prevent any dispute which may arise regarding entitlement to commission. Client acknowledges that failure to comply with the foregoing may create a dispute with another agent regarding payment of fees or commission. Client also acknowledges that the Agent will expect to be compensated by the Client as provided herein in the event Client acquires any such property. 7. AGENT'S COMPENSATION: If, during the term of the Agreement the Client is shown by the Agent any property as generally described in Section 1 of this Agreement, and later acquires or leases such property, whether through the services of the Agent or otherwise, the Client shall pay the Agent compensation of: $ NIL - if NIL the Client authorizes the Agent to accept compensation in the amount collected from the Vendor or Vendor's Agent unless the Client is in Violation of Section 1 hereof in which case the compensation shall be three percent (3%) of the purchase price of the property purchased. plus Goods and Services Tax (GST), if applicable upon the date of completion of the Agreement of Purchase and Sale, or, in the case of a lease, upon the earlier of occupancy of the property or the signing of the lease. The Agent acknowledges receipt of a retainer in the amount of $NIL which is to be used as a deposit on the final purchase and non-refundable and earned in the event no purchase is made. The Agent hereby informs the Client that it is customary for Vendors, when listing their property with Real Estate Brokers, to expect the listing company to pay a portion of the commission to the company which obtained the Agreement of Purchase and Sale from the Purchaser of the property. Listing Brokers customarily designate that amount as the "Co-operating Broker's portion" and disburse same after receipt of payment from the Vendor following completion of the transaction. Client authorizes Agent to receive the Co-operating Broker's portion and understands that, upon payment, Agent shall deduct the same from the compensation due under this Agreement. Prior to the Client finalizing an offer to purchase property, the Agent agrees to inform the Client in writing of any difference between the Agent's compensation payable hereunder and the amount of the Co-operating Broker's portion of commission payable to the Agent. Any obligation to compensate the Agent arising herein shall survive the termination of this agreement. 8.GENERAL: Where the Client is more than one person, the obligations of each such person shall be joint and several. A purchase or assignment of purchase by any of them shall be considered as a purchase by all. This Agreement shall be read with such changes of gender or number as shall be required by the context. Agent does not warrant that it will obtain the lowest or best possible price or terms with respect to any property which may be purchased by Client. This Agreement is subject to the laws of the Province of Ontario, and the parties hereto hereby attorn to the jurisdiction of the courts of the Province of Ontario. I acknowledge that the Agent may be entering into Buyer Agency Agreements with other buyers who may be interested in the same or similar properties that I may be interested in purchasing or leasing, and the Agent may represent other buyers without any claim by me of conflict of interest. Should the Agent represent other buyers who are interested in the same property as me, I hereby agree that the Agent shall not disclose the terms of any buyer client's Agreement of Purchase and Sale to any other buyer client. Signed at __________________________________ Ontario. Client: ________________________________________________________________ ________________________________________________________________ Agent: Peak Realty LTD. PER: _______________________________________________________________ (representative)