coms
Exhibit B
Summary & Scope of Work
City of Nashua through the Office of Economic Development
Professional Services related to Commercial Real Estate Brokerage and Marketing
Services
Summary
The purpose of this assignment is to provide marketing and brokerage services to the
City of Nashua (“Owner’), through the Office of Economic Development related to the
disposition of selected property.
Scope of Work
The Service Provider is hereby authorized to conduct the following Scope of Work,
collectively defined as “Exclusive Listing Services”. The services will be inclusive of the
following obligations for both the Service Provider as well as the City of Nashua:
1. Commissions: Owner agrees to pay a commission at the rates set below if (a)
during the term of the Contract the Broker, Owner or any other party, finds a
purchaser, assignee or nominee, who is ready, willing and able to purchase the property
in accordance with the terms and conditions of this Agreement, or such other ferms and
conditions as may be acceptable to Owner; or, (b) within 180 days after the termination
of this agreement Owner is party to a binding Purchase and Sales agreement on the
Praperty to any Qualifying Prospect. A Qualifying Prospect shall be any Buyer,
identified in writing to Owner no later than 15 days after the termination of this
agreement.
During the term of the Contract and as set forth above, commission is due and payable
upon Owner approving a purchase and sale agreement with a ready willing and able
buyer under terms and conditions agreeable to Owner. Commissions are collected at
settlement, or lease signing.
The fee for leasing is 5% of base rent for the first five years of the lease and 2% of base
rent for any additional years thereafter. This would be for the initial term of the lease
only. No change in the above fee for a co-broke situation. In the event of a co-broke,
Broker will split commission 50/50.
The fee for selling will be 6% of the first $1,000,000 of purchase price; 5% of the
purchase price between $1,000,001 and $2,000,000 and 4% of the purchase price
(b=
