This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Mecklenburg North Carolina Lease Provisions Relating to Brokers are essential clauses included in lease agreements specific to the jurisdiction of Mecklenburg County, North Carolina. These provisions protect the interests of both landlords and tenants by outlining the obligations, rights, and responsibilities of the brokers involved in the leasing process. Here are some significant types of Mecklenburg North Carolina Lease Provisions Relating to Brokers: 1. Brokerage Representation: This provision clarifies the relationship between the landlord and the broker. It defines whether the broker represents the landlord exclusively or acts as a dual agent, representing both the landlord and the tenant. The provision also establishes the broker's duty to act in the best interest of the party they represent. 2. Broker's Compensation: This clause outlines the broker's commission or fees and specifies when the compensation is due. It may include details on whether the landlord or the tenant is responsible for paying the brokerage fees, or whether they are shared between both parties. Additionally, it may cover circumstances under which a commission is earned or forfeited. 3. Cooperating Brokers: In cases where multiple brokers are involved in a lease transaction, this provision dictates how the commission will be shared among them. It sets forth guidelines for cooperation, communication, and fair distribution of compensation between the brokers. 4. Broker Liability and Indemnification: This provision addresses the liability of brokers involved in the leasing process. It may specify that the landlord and tenant agree to hold the broker harmless for any claims arising from the lease agreement, except in cases of gross negligence or willful misconduct. 5. Exclusive Listing Agreement: If the landlord signs an exclusive listing agreement with a broker, this provision details the terms of the arrangement. It may include the duration of exclusivity, the broker's obligations, and potential consequences for breaching the agreement. 6. Disclosure Requirements: Mecklenburg County may have specific requirements for brokers to disclose any potential conflicts of interest, relationships, or material facts that could affect the lease transaction. This provision ensures transparency and protects both parties from any hidden agendas or undisclosed information. 7. Termination of Broker Engagement: This provision outlines the circumstances under which the landlord or the tenant can terminate the broker's engagement. It may cover situations such as unsatisfactory performance, breach of contract, or completion of the leasing transaction. These Mecklenburg North Carolina Lease Provisions Relating to Brokers aim to provide clarity, protect parties from misunderstandings, and ensure a fair and smooth leasing process. It is crucial for landlords, tenants, and brokers to carefully review and understand these provisions before engaging in any lease transactions to safeguard their rights and interests.Mecklenburg North Carolina Lease Provisions Relating to Brokers are essential clauses included in lease agreements specific to the jurisdiction of Mecklenburg County, North Carolina. These provisions protect the interests of both landlords and tenants by outlining the obligations, rights, and responsibilities of the brokers involved in the leasing process. Here are some significant types of Mecklenburg North Carolina Lease Provisions Relating to Brokers: 1. Brokerage Representation: This provision clarifies the relationship between the landlord and the broker. It defines whether the broker represents the landlord exclusively or acts as a dual agent, representing both the landlord and the tenant. The provision also establishes the broker's duty to act in the best interest of the party they represent. 2. Broker's Compensation: This clause outlines the broker's commission or fees and specifies when the compensation is due. It may include details on whether the landlord or the tenant is responsible for paying the brokerage fees, or whether they are shared between both parties. Additionally, it may cover circumstances under which a commission is earned or forfeited. 3. Cooperating Brokers: In cases where multiple brokers are involved in a lease transaction, this provision dictates how the commission will be shared among them. It sets forth guidelines for cooperation, communication, and fair distribution of compensation between the brokers. 4. Broker Liability and Indemnification: This provision addresses the liability of brokers involved in the leasing process. It may specify that the landlord and tenant agree to hold the broker harmless for any claims arising from the lease agreement, except in cases of gross negligence or willful misconduct. 5. Exclusive Listing Agreement: If the landlord signs an exclusive listing agreement with a broker, this provision details the terms of the arrangement. It may include the duration of exclusivity, the broker's obligations, and potential consequences for breaching the agreement. 6. Disclosure Requirements: Mecklenburg County may have specific requirements for brokers to disclose any potential conflicts of interest, relationships, or material facts that could affect the lease transaction. This provision ensures transparency and protects both parties from any hidden agendas or undisclosed information. 7. Termination of Broker Engagement: This provision outlines the circumstances under which the landlord or the tenant can terminate the broker's engagement. It may cover situations such as unsatisfactory performance, breach of contract, or completion of the leasing transaction. These Mecklenburg North Carolina Lease Provisions Relating to Brokers aim to provide clarity, protect parties from misunderstandings, and ensure a fair and smooth leasing process. It is crucial for landlords, tenants, and brokers to carefully review and understand these provisions before engaging in any lease transactions to safeguard their rights and interests.
