SUNSCAPE PROPERTY MANAGEMENT

EXCLUSIVE RIGHT TO LEASE AGREEMENT

This Exclusive Right to Lease Agreement (“Agreement”) is between ________________

______________________________________________________________(“Owner”)

And __________________________________________________________(“Broker”)

1. AUTHORITY TO LEASE PROPERTY: Owner gives Broker the EXCLUSIVE RIGHT TO SECURE A TENANT for the real and personal property (“Property”) described below beginning the ____________________ day of ___________________, _________, and ending the Leasing Period, Owner and Broker remain obligated to perform under this Agreement until the Leasing Period expires. Owner certifies and represents that he/she is legally entitled to lease the Property.

2. DESCRIPTION OF PROPERTY: _________________________________________

____________________________________________________________________________________________________________________________________________.

3. RENTAL RATE AND TERMS:

(a) Rental Period and Rate: ___ Six Months $_________ ___ One Year $__________

Specify any services or fees such as water, garbage, association dues, etc., that are included in rent: _________________________________________________________

______________________________________________________________________.

(b) Advanced Rents, Deposits and Fees: Advanced rents and deposits will be held by Broker in the amount of $__________. If pets are allowed, a pet deposit in the amount of $__________ will be held also.

4. BROKER OBLIGATIONS: In consideration of Owner’s agreement to enter into this Agreement, Broker agrees to use: diligent effort to lease the Property, including advertising as Broker deems advisable; negotiate leases and renewals of existing leases in accordance with the rent schedule and terms above; take reasonable precautions to prevent damage to the Property when the Property is being shown by Broker or any other broker or sales associate; and to perform the following activities authorized by Owner (check if applicable):

Display appropriate transaction signs, including a “For Rent” sign on the Property.
Use a lockbox system to access and show the Property.
Request a credit check on prospective tenants at Tenant’s expense. Broker makes no representations as to the truth or falsity of information provided by the prospective tenant or as to the financial integrity or fitness and character of the prospective tenant.
Make a final inspection of Property at conclusion of lease.
Complete lease forms as permitted by law.
Complete and sign the lead-based paint/hazards certification on Owner’s behalf
Other ___________________________________________________________

OWNER OBLIGATIONS: In consideration of the obligations of Broker, Owner

agrees:

(a) To cooperate with Broker in carrying out the purpose of this Agreement,

including providing Broker with all documents needed by prospective tenant to seek Association or Board approval.

(b) To refer immediately to Broker all inquiries regarding the leasing of the

Property.

(c) To make Property available for Broker access during reasonable times and

furnish delivering the Property; unit _________/building access ____________/

Mailbox ____________/pool ______________/ garage door/opener ___________/Other ______________.

(d) To notify Broker in the event Owner or a tenant terminates a lease on the

Property prior to lease expiration date.

(e) To inform Broker before conveying the Property.

(f) That the lockbox, if utilized, will be for the benefit of Owner and to release

those working by or through Broker and Broker’s local Board of Realtors from all liability and responsibility in connection with any loss which may occur.

(g) Not to restrict the rental of the Property according to race, color, religion, sex, handicap, familial status, national origin or any other classes protected by state or local law, and not to ask or expect Broker to impose such restrictions on the rental of the Property.

(h) To indemnify and hold harmless Broker and Broker’s officers, directors, agents and employees from all claims, demands, causes of action, costs and expenses, including reasonable attorneys’ fees at all levels, and from liability to any person, to the extent based on Owner’s misstatement, negligence, action, inaction or failure to perform the obligations of this contract or any lease or agreement with a vendor; or the existence of undisclosed material facts about the Property. This subparagraph will survive Broker’s performance and the transfer of title.

(i) To reasonably inspect the Property before allowing the tenant to take possession and to make the repairs necessary to transfer a reasonably safe dwelling unit to the tenant.

6. COMPENSATION: Owner agrees to compensate Broker as follows, including paying any applicable taxes on Broker’s services, if Owner enters into a lease of the Property with a tenant during the Leasing Period, regardless of whether the tenant fulfills the terms of the lease; or if, during the Leasing Period, Broker procures a tenant who is ready, willing and able to lease the Property under the terms of this Agreement, or terms acceptable to Owner:

(a) Amount of Compensation: Owner agrees to pay Broker the following fee(s):

________% of the rent due in each Rental Period.

Or ________% of the gross value of the lease.

Other ___________________________________________________________.

(b) Time and Manner of Payment (check if applicable):

o Broker will deduct its fee from rent collected by Broker after said rent becomes due and owing to Owner.

(c) New Leases and Renewals: If Owner enters into any new lease or renewal of the original lease with a tenant placed in the Property by or through Broker, Owner agrees to pay Broker as compensation in connection with the new lease(s) or renewal(s) the amount specified in Paragraph 6a.

(d) Protection Period: Owner agrees to pay Broker’s fee if, within _____ days after the end of the Leasing Period, Owner leases the Property to any prospects with whom Broker or any other broker communicated during the Leasing Period regarding leasing the Property. If requested, Broker must provide Owner with a list of said prospects, and entitlement to compensation under this subparagraph will be limited to the names on that list. The protection period ceases if Owner enters into a good faith exclusive right to lease contract with another broker after Leasing Period ends.

7. EARLY TERMINATION: If Owner decides not to lease the Property and Broker deems withdrawal agreement and simultaneously paying a cancellation fee of $__________ plus applicable sales tax. However, Owner agrees that if the Property is contracted for lease to a tenant during the time period from conditional termination to the end of the Leasing and Protection Periods, Broker may void the early termination and Owner will be obligated to pay Broker the compensation set forth in paragraph 6a, less the cancellation fee.

8. DISPUTE RESOLUTION: This Agreement will be construed under Alabama law. All disputes between Broker and Owner based on this Agreement or its breach will be mediated under the rules of the American Arbitration Association or other mediator agreed upon by the parties. Mediation is a process in which parties attempt to resolve a dispute by submitting it to an impartial mediator who facilitates the resolution of the dispute but who is not empowered to impose a settlement on the parties. The parties will equally divide the mediation fee, if any. In any litigation based on this Agreement, the prevailing party will be entitled to recover reasonable attorney’s fees and costs at all levels, unless the parties agree that disputes will be settled by arbitration as follows:

Arbitration: By initialing in the space provided, Owner (_____) (_____), Listing Associate (_____) and Listing Broker (_____) agree that disputes not resolved by mediation will be settled by neutral binding arbitration in the county in which the Property is located in accordance with the rules of the American Arbitration Association or other arbitrator agreed upon by the parties. Each party to any arbitration or litigation (including appeals and interpleaders) will pay its own fees, costs and expenses, including attorneys’ fees at all levels, and will equally split the arbitrators’ fees and administrative fees of arbitration.

9. MAINTENANCE: All maintenance on the Property will be handled within a reasonable time frame by the Broker. The cost of said repairs will be deducted from the Owner’s rent before money is disbursed.

10. MISCELLANEOUS: This Agreement is binding on Broker’s and Owner’s heirs, personal representatives, administrators, successors and assigns. Signatures, initials, documents referenced in this Agreement, counterparts and modifications communicated electronically or on paper will be acceptable for all purposes and will be binding.

11. ADDITIONAL CLAUSES: _______________________________________________

________________________________________________________________________

Date: __________ Owner: ___________________________ Tax ID: ________________

Home Telephone: ______________ Work Telephone: _____________ Fax: ___________

Address: _________________________________________________________________

E-Mail Address: ____________________________________________________________

Date: __________ Authorized Associate or Broker: ________________________________

Work Telephone: (251) 967-1161____ Fax: (251) 967-1169___________

Address: _____P.O. Box 3309, Gulf Shores, AL 36547-3309___________