Fill and Sign the Exclusive Agency Rental Agreement Mls Voro Nyc Form

Agreement Appointing an Agent to Collect Payments Owed Pursuant to Leases of Real Property Agency Agreement made on the ____ day of _____________________________, 20___, between ________________________________________________ (Name of Principal), a corporation organized and existing under the laws of the state of _________________________, with its principal office located at __________________________________________________ __________________________________________________________________________________________________________ (street address, city, county, state, zip code), referred to herein as Principal and ___________________________________________ (Name of Agent) of ___________________________________________________________________________ ______________________________________________________________________________________________________ (street address, city, county, state, zip code), referred to herein as Agent. 1. Appointment and Employment of Agent Principal does hereby employ Agent to receive, and give receipts for, all payments due Principal under the terms of the leases of real property described in Schedule A attached hereto and made a part of this Agreement. 2.Additional Leases Principal and Agent, from time to time, may amend Schedule A and add additional leases for collection of payments. Any such amendment to Schedule A must be dated and initialed by both Principal and Agent in order to be effective. 3. Taxes and Insurance If any of leases described in Schedule A provide that the Principal, as lessor, is required to pay taxes and/or insurance premiums regarding the properties subject to the leases, Principal authorizes Agent to pay such taxes and premiums out of the sums collected by Agent. Agent shall maintain tax and insurance records on all such leases. 4.Receipt for Payments and Accounting Agent shall give lessees receipts for the payments made under the leases. Agent shall furnish to Principal reports of all receipts and disbursements made and given pursuant to this Agreement on or before ____________ (e.g., 10th ) day of each month, beginning _____________________________________ (date). 5. Remittance of Net Proceeds On or before the ___________ (e.g., 10th ) day of each month, beginning __________________________________ (date), Agent shall remit to Principal the net proceeds of the payments received from the said lessees. 6.Compensation to Agent Agent's compensation for services under this Agreement shall be payable on the ___________ (e.g., 10th ) day of each month, beginning ___________________________ (date), and based on the sums collected pursuant to said leases and this Agreement. The monthly compensation shall be (e.g., one percent of all sums collected during said month pursuant to said leases and this Agreement) __________________________________________________ ______________________________________________________________________________ _____________________________________________________________________________.7.Legal Proceedings Unless instructed in writing to the contrary by Principal, Agent shall not institute any legal proceedings to collect any payments due pursuant to said leases. 8.Termination Either party may terminate this Agreement by giving the other party written notice ______days before the effective date of the termination, and tendering with the notice all sums owing the other party. 9.No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 10.Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ______________________________. 11. Mandatory Arbitration Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 12.Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 13.Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 14.Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party.15. Counterparts This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. WITNESS our signatures as of the day and date first above stated. ____________________________________(Name of Principal) ________________________________________ By_________________________________(Name of Agent) ____________________________________ (Name and Office in Corporation) STATE OF ____________________________________COUNTY OF ______________________________ Personally appeared before me, the undersigned authority in and for said County and State, on this ____________________________________ (date), within my jurisdiction, the within named ______________________________________________ (name of officer), who acknowledged that he is the _________________________________________ (name of office), a ______________________________________________ (name of state) corporation, and that he executed the above and foregoing instrument for and on behalf of said corporation, after being duly authorized so to do. __________________________________________NOTARY PUBLIC My Commission Expires:_______________________ STATE OF ______________________________________COUNTY OF _________________________________Personally appeared before me, the undersigned authority in and for the said County and State, on this _____ day of __________________________________________, 20____, within my jurisdiction, the within- named _________________________________________________ (Name of Agent), who acknowledged that he executed the above and foregoing instrument.__________________________________________NOTARY PUBLICMy Commission Expires:______________________ (Form of acknowledgement may vary from state to state)