Fill and Sign the Legal Update I Edition 81 Student Course Manual Trec Form

Page 1 of 2 EQUAL HOUSING OPPORTUNITY PROMULGATED BY THE ________________REAL ESTATE COMMISSION AGREEMENT FOR MEDIATION ADDENDUM TO CONTRACT CONCERNING THE PROPERTY AT _____________________________________________________________________________ (Street Address and City) The parties to the Contract and any broker who signs this addendum agree to negotiate in good faith in an effort to resolve any dispute related to the Contract that may arise between the parties or between a party and a broker. If the dispute cannot be resolved by negotiation, the parties to the dispute shall submit the dispute to mediation before resorting to litigation.This Agreement for Mediation will survive closing.( )If the need for mediation arises, the parties to the dispute shall choose a mutually acceptable mediator and shall share the cost of mediation services equally.( )If the need for mediation arises, mediation services will be provided by ___________________________ and the parties to the dispute shall share the cost of mediation services equally.NOTE: Mediation is a voluntary dispute resolution process in which the parties to the dispute meet with an impartial person, called a mediator, who would help to resolve the dispute informally and confidentially. Mediators facilitate the resolution of disputes but cannot impose binding decisions. The parties to the dispute must agree before any settlement is binding.Date:______________________________________________________________________ ___________________________________BuyerSeller_________________________________________________________________________BuyerSeller_________________________________________________________________________Other BrokerListing BrokerBy:____________________________________By:_________________________________ Page 2 of 2 The form of this addendum has been approved for voluntary use by the ________Real Estate Commission for use only with similarly approved or promulgated forms of contracts. No representation is made as to the legal validity or adequacy of any provision in any specific transactions.