Great Lakes Principals, LLC (Owner)
3201 Old Glenview Road, Suite 300
Glenview, IL 60061
RE: 760 W. Main Street, Barrington, IL 60010 (the “Property”)
Ladies and Gentlemen:
This will serve to confirm our agreement (the “Agreement”) concerning certain financial material, data and information (herein “Confidential Material”) which Owner and Colliers (Broker) will make available to us in connection with a possible purchase of the Property.
You are prepared to furnish us the Confidential Material only on the condition that we treat such Confidential Material confidentially and confirm certain representations to you. Therefore, as a prerequisite to your furnishing to us the Confidential Material, we hereby represent and agree as follows:
- The Confidential Material furnished to us will be used solely for evaluating a possible purchase of the Property exclusively for our own account, as principals in the transaction, and will not be provided to any broker or agent or any other person. Therefore, we shall keep all Confidential Material strictly confidential; provided, however, that any such Confidential Material may be disclosed to our directors, officers or employees, as well as our counsel, accounting firms and financial institutions who need to know such information for the purpose of assisting us with our possible purchase of the Property. Such directors, officers, employees, lawyers, financial institutions and accountants shall be informed by us of the confidential nature of such information and shall be directed by us to treat such information with strict confidence. Since the Owner and the Broker will have no adequate remedy at law if we violate any of the terms of this Agreement, the Owner will have the right to seek injunctive relief to restrain any breach or threatened breach by us of this Agreement.
- You represent to Owner and Broker that you are a principal, and that no other broker has procured its interest in the Property. Interested Party agrees to indemnify, defend and hold Owner and Broker harmless or defend both against any and all other brokers claiming a commission unless Interested Party, themselves, will pay another broker, as buyer’s broker, their commission with respect to the Property.
- Although you have endeavored to include in the Confidential Material information that you believe to be relevant for the purpose of helping us in the purchase of the Property, we understand and acknowledge that the Owner and Broker do not make any representation or warranty to us as to the accuracy or completeness of the Confidential Material. The Owner and Broker shall not have any liability to us as a result of our use of the Confidential Material.
- If no agreement is entered into between the undersigned and Owner within one (1) year of the date hereof, the undersigned will promptly return all documents furnished by Owner or Broker without retaining a copy thereof.
- The undersigned agrees not to directly contact personnel at the Property until authorized in writing by Owner.
This Agreement shall be binding upon any signatory hereto and any successors and/or assigns. This Agreement shall be governed by the laws of the State of Illinois.