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.
Phoenix Arizona Lease Provisions Relating to Brokers refer to the specific terms and stipulations included in a lease agreement between a landlord and broker involved in a real estate transaction in Phoenix, Arizona. These provisions are designed to protect the rights and interests of both parties and ensure a smooth leasing process. The lease provisions relating to brokers can vary depending on the specific agreement and circumstances involved. Here are some important types of Phoenix Arizona Lease Provisions Relating to Brokers: 1. Exclusive Brokerage Agreement: This provision establishes the exclusive relationship between the landlord and a specific broker, granting the broker the sole right to represent the landlord in leasing the property. It outlines the terms of the agreement, including the duration, commission structure, and any specific obligations of the broker. 2. Broker Compensation: This provision outlines the compensation and commission structure for the broker's services. It specifies the percentage or flat fee the broker will receive upon successfully leasing the property or completing other agreed-upon tasks. It may also include details on when and how the payment will be made to the broker. 3. Confidentiality and Non-Disclosure: This provision ensures that the broker keeps all sensitive information shared by the landlord confidential, including financial records, tenant information, property details, and any other proprietary data. It may also include non-disclosure clauses prohibiting the broker from sharing this information with any third parties without the landlord's prior consent. 4. Performance and Exclusivity: This provision sets out performance standards and expectations for the broker, ensuring they exert their best efforts to secure qualified tenants for the property. It may also specify the consequences for breaching exclusivity, such as the broker's liability for damages or termination of the agreement. 5. Indemnification: This provision protects the landlord from any claims, losses, or damages arising from the broker's actions or negligence during the leasing process. It requires the broker to indemnify and hold the landlord harmless from any legal or financial repercussions resulting from their conduct. 6. Termination Clause: This provision outlines the conditions under which the lease agreement between the landlord and broker can be terminated prematurely. It may include termination for cause, such as a breach of contract, as well as termination for convenience, allowing either party to terminate the agreement without cause but with proper notice. 7. Dispute Resolution: This provision establishes the method of resolving any disputes or disagreements that may arise between the landlord and the broker. It commonly includes provisions for mediation, arbitration, or other suitable means of alternative dispute resolution to mitigate potential legal complexities. It is important for both landlords and brokers in Phoenix, Arizona, to carefully consider and negotiate these lease provisions to ensure a fair and mutually beneficial working relationship. Consulting legal professionals familiar with Arizona real estate laws is highly recommended ensuring all applicable regulations are adhered to.Phoenix Arizona Lease Provisions Relating to Brokers refer to the specific terms and stipulations included in a lease agreement between a landlord and broker involved in a real estate transaction in Phoenix, Arizona. These provisions are designed to protect the rights and interests of both parties and ensure a smooth leasing process. The lease provisions relating to brokers can vary depending on the specific agreement and circumstances involved. Here are some important types of Phoenix Arizona Lease Provisions Relating to Brokers: 1. Exclusive Brokerage Agreement: This provision establishes the exclusive relationship between the landlord and a specific broker, granting the broker the sole right to represent the landlord in leasing the property. It outlines the terms of the agreement, including the duration, commission structure, and any specific obligations of the broker. 2. Broker Compensation: This provision outlines the compensation and commission structure for the broker's services. It specifies the percentage or flat fee the broker will receive upon successfully leasing the property or completing other agreed-upon tasks. It may also include details on when and how the payment will be made to the broker. 3. Confidentiality and Non-Disclosure: This provision ensures that the broker keeps all sensitive information shared by the landlord confidential, including financial records, tenant information, property details, and any other proprietary data. It may also include non-disclosure clauses prohibiting the broker from sharing this information with any third parties without the landlord's prior consent. 4. Performance and Exclusivity: This provision sets out performance standards and expectations for the broker, ensuring they exert their best efforts to secure qualified tenants for the property. It may also specify the consequences for breaching exclusivity, such as the broker's liability for damages or termination of the agreement. 5. Indemnification: This provision protects the landlord from any claims, losses, or damages arising from the broker's actions or negligence during the leasing process. It requires the broker to indemnify and hold the landlord harmless from any legal or financial repercussions resulting from their conduct. 6. Termination Clause: This provision outlines the conditions under which the lease agreement between the landlord and broker can be terminated prematurely. It may include termination for cause, such as a breach of contract, as well as termination for convenience, allowing either party to terminate the agreement without cause but with proper notice. 7. Dispute Resolution: This provision establishes the method of resolving any disputes or disagreements that may arise between the landlord and the broker. It commonly includes provisions for mediation, arbitration, or other suitable means of alternative dispute resolution to mitigate potential legal complexities. It is important for both landlords and brokers in Phoenix, Arizona, to carefully consider and negotiate these lease provisions to ensure a fair and mutually beneficial working relationship. Consulting legal professionals familiar with Arizona real estate laws is highly recommended ensuring all applicable regulations are adhered to.
