COMMERCIAL DIRECT AUCTION REFERRAL AGREEMENT

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Andrew Preston
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1 COMMERCIAL DIRECT AUCTION REFERRAL AGREEMENT Referring Broker, (Referring Broker's Name, Company & License Number) hereby refers, Prospect, (Name, Address, Telephone of Prospect) regarding Real Estate, (Real Estate Description/Address) to Receiving Auctioneer/Broker, Williams & Williams Marketing Services, Inc.. (Receiving Auctioneer/Broker) NOWTHEREFORE, the parties, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, do agree as follows: 1. Referral Fee. In consideration of the referral of said Prospect, Receiving Auctioneer/Broker shall compensate the Referring Broker, in an amount equal to one percent (1%) of the high bid received at auction (the Referral Fee ) for the above described Real Estate, if, and only if, a. ) Prospect accepts the high bid obtained at auction; b.) Prospect enters into a valid and enforceable purchase agreement with the high bidder; and c.) Receiving Auctioneer/Broker receives a commission upon closing and funding of the above described Real Estate. Receiving Auctioneer/Broker shall pay the Referral Fee to the Referring Broker within 30 days of Receiving Auctioneer/Broker s receipt of the commission on the transaction involving the Prospect and the Real Estate and clearance of said commission funds. Notwithstanding anything to the contrary herein, Receiving Auctioneer Broker shall have no obligation to pay the Referral Fee in the event Receiving Auctioneer/Broker fails to be paid a commission for the auction of the Real Estate for any reason. 2. Additional Terms. Prospect must enter into a binding Auction Listing Agreement with Auctioneer/Broker within thirty (30) days of the date set forth below, or this Auction Referral Agreement shall terminate. In the event Prospect enters into a Auction Listing Agreement for the above identified Real Estate with Auctioneer/Broker within the aforementioned thirty (30) day term, this Auction Referral Agreement shall remain in full force and effect for the term of said Auction Listing Agreement. Auctioneer/Broker shall have no obligation to pay a Referral Fee in the event Prospect enters into an Auction Listing Agreement after the termination of the aforementioned thirty (30) day term, or if Auctioneer/Broker enters into a subsequent Auction Listing Agreement with Prospect governing additional real estate or property not specifically identified above. 3. General. The relationship between the parties shall at all times be that of independent contractors. No employment, partnership or joint venture relationship is formed by this Auction Referral Agreement and at no time may the Referring Broker position itself as affiliated with Receiving Auctioneer Broker, except as an independent referrer. In view of this independent relationship the Referring Broker shall not enter into any agreements on behalf of Receiving Auctioneer/Broker, shall make no warranty either expressed or implied on behalf of Receiving Auctioneer/Broker, and shall not incur any expenses on behalf of Receiving Auctioneer/Broker unless otherwise agreed to in advance and in writing. Referring Broker agrees to indemnify and hold harmless

2 Receiving Auctioneer/Broker for and against any damages, costs, expenses, claims, suits and proceedings resulting from the acts or omissions of Referring Broker. The parties hereby agree and execute this Auction Referral Agreement on this day of, 20. [Insert Brokerage Name] Williams & Williams Marketing Services, Inc., Auctioneer

3 COMMERCIAL PARTICIPATING AUCTION COOPERATION AGREEMENT Referring Broker,, License # hereby refers (Referring Broker's Name, Company & License Number) (Name, Address, Telephone of Prospect), Prospect, regarding Real Estate, (Real Estate Description/Address) to Receiving Auctioneer/Broker, Williams & Williams Marketing Services, Inc. (Receiving Auctioneer/Broker) NOWTHEREFORE, the parties, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, do agree as follows: 1. Referral Fee. In consideration of the referral of said Prospect, Receiving Auctioneer/Broker shall compensate the Referring Broker, in an amount equal to two-percent (2%) of the high bid received at auction (the Referral Fee ) for the above described Real Estate, if, and only if, a. ) Prospect executes a Listing Agreement with Receiving Auctioneer; b.) Prospect accepts the high bid obtained at auction; c.) Prospect enters into a valid and enforceable purchase agreement with the high bidder; and d.) Receiving Auctioneer/Broker receives a commission upon closing and funding of the above described Real Estate. Receiving Auctioneer/Broker shall pay the Referral Fee to the Referring Broker within 30 days of Receiving Auctioneer/Broker s receipt of the commission on the transaction involving the Prospect and the Real Estate and clearance of said commission funds. Notwithstanding anything to the contrary herein, Receiving Auctioneer Broker shall have no obligation to pay the Referral Fee in the event Receiving Auctioneer/Broker fails to be paid a commission for the auction of the Real Estate for any reason. 2. Additional Terms. Prospect must enter into a binding Auction Listing Agreement with Auctioneer/Broker within thirty (30) days of the date set forth below, or this Auction Referral Agreement shall terminate. In the event Prospect enters into a Auction Listing Agreement for the above identified Real Estate with Auctioneer/Broker within the aforementioned thirty (30) day term, this Auction Referral Agreement shall remain in full force and effect for the term of said Auction Listing Agreement. Auctioneer/Broker shall have no obligation to pay a Referral Fee in the event Prospect enters into an Auction Listing Agreement after the termination of the aforementioned thirty (30) day term, or if Auctioneer/Broker enters into a subsequent Auction Listing Agreement with Prospect governing additional real estate or property not specifically identified above. 3. Referring Broker Obligations. The Referring Broker shall have the following obligations and tasks with respect to the Prospect and Real Estate: [Initial the Section that Applies] VACANT REAL ESTATE. Referring Broker shall: provide Auctioneer with all material information regarding the Real Estate; maintain the utility connections; staff all open inspections; update and maintain the MLS listing, if allowed, specifically with respect to the auction terms and other information (i.e., applicability of buyer s premium, auction date, time, and location, etc.); forward the most recent BPO to Receiving Auctioneer/Broker; conduct weekly property checks; property preservation tasks, alert Receiving Auctioneer/Broker of any HOA or property access issues, and compile HOA information for disclosure; and present pre-auction offers to Receiving Auctioneer/Broker. Receiving Broker shall provide a more specific task list via upon execution of this Auction Referral Agreement and Prospects execution of the auction listing agreement. Any reimbursable costs and expenses incurred by Receiving Broker, or third parties on the behalf of Receiving Broker, must be approved in advance and writing by Prospect. If such costs and expenses are reimbursable by Prospect, Referring Broker must

4 present an itemized list of said costs and expenses to Receiving Auctioneer/Broker no later than 2 business days prior to the closing date, or Referring Broker waives any right of reimbursement. Prospect requires all fees, costs, and expenses to be added to the HUD at closing, failure to do so will preclude reimbursement/payment. Prospect shall be responsible for any reimbursable costs and expenses in the event a closing for the Real Estate fails for any reason. OCCUPIED REAL ESTATE. Referring Broker shall: provide Auctioneer with all material information regarding the Real Estate; staff open inspections; update and maintain the MLS listing specifically with respect to the auction terms and other information (i.e., applicability of buyer s premium, auction date, time, and location, etc.), if allowed; forward the most recent BPO to Receiving Auctioneer/Broker; alert Receiving Auctioneer/Broker of any HOA or property access issues, and compile HOA information for disclosure; and present pre-auction offers to Broker. Receiving Broker shall provide a more specific task list via upon execution of this Auction Referral Agreement and Prospects execution of the auction listing agreement. Any reimbursable costs and expenses incurred by Receiving Broker, or third parties on the behalf of Receiving Broker, must be approved in advance and writing by Prospect. If such costs and expenses are reimbursable by Prospect, Referring Broker must present an itemized list of said costs and expenses to Receiving Auctioneer/Broker no later than 2 business days prior to the closing date, or Referring Broker waives any right of reimbursement. Prospect requires all fees, costs, and expenses to be added to the HUD at closing, failure to do so will preclude reimbursement/payment. Prospect shall be responsible for any reimbursable costs and expenses in the event a closing for the Real Estate fails for any reason. 4. General. The relationship between the parties shall at all times be that of independent contractors. No employment, partnership or joint venture relationship is formed by this Auction Referral Agreement and at no time may the Referring Broker position itself as affiliated with Receiving Auctioneer Broker, except as an independent referrer. In view of this independent relationship the Referring Broker shall not enter into any agreements on behalf of Receiving Auctioneer/Broker, shall make no warranty either expressed or implied on behalf of Receiving Auctioneer/Broker, and shall not incur any expenses on behalf of Receiving Auctioneer/Broker unless otherwise agreed to in advance and in writing. Referring Broker agrees to indemnify and hold harmless Receiving Auctioneer/Broker for and against any damages, costs, expenses, claims, suits and proceedings resulting from the acts or omissions of Referring Broker. The parties hereby agree and execute this Auction Referral Agreement on this day of, 20. Williams & Williams Marketing Services, Inc.,

MASTER LISTING AGREEMENT

MASTER LISTING AGREEMENT This Master Listing Agreement ( Agreement ) made as of the day of, 20, by and between Entra Asset Management, LLC, a Texas limited liability company ( Entra ) whose principal place