THIS AGREEMENT (the “Agreement”), is entered into upon new contract submission by and between NorthGroup Real Estate, (hereby known as NorthGroup Transactions) and the Agent (hereby known as the "AGENT"); WHEREAS, the AGENT desires to hire the services of NorthGroup Transactions to render services to Transaction Coordination; NOW, THEREFORE, for and in consideration of the mutual covenants made by the parties hereto, the Parties to this agreement agree as follows:
The Services
NorthGroup Transactions agrees that it shall exercise reasonable effort and due diligence to render services to the AGENT on matters pertaining to Transaction Coordination (the “Services”).
NorthGroup Transactions will act ONLY as the Transaction Coordinator on all hired transactions. NorthGroup Transactions is NOT the acting real estate licensee with regards to the property transactions and THEREFORE is not responsible as such.
The AGENT will complete all other aspects of the transactions and work with all parties to ensure cooperation with the NorthGroup Transactions Coordinators assigned to these transactions.
Compensation & Payment
Unless otherwise agreed upon by written agreement, the AGENT shall provide payment to NorthGroup Real Estate for Services as selected on this form.
Upon termination, the Agent bears the responsibility for remunerating the completed services provided by TC.
Pricing is based on standard residential contracts.
Term
This Agreement shall commence upon submission of this form, unless otherwise terminated by NorthGroup Transactions or the AGENT or by mutual agreement of the parties herein. Payment for Under Contract services will be paid out of commission disbursement upon contract closing. Payment for Listing Input and A la Carte services will be due upon order request, and no work will begin until payment has been fulfilled.
Non- Disclosure & Confidentiality
NorthGroup Transactions agrees to refrain from disclosing to third parties any details regarding the AGENT's business, including any information regarding any of the AGENT's customers and businesses.
In the event that the recipient of the confidential information is legally compelled or required by any governmental body, court, or competent authority to disclose any such confidential information, they shall promptly notify the other party.
AGENT may not disclose any information regarding NorthGroup Transactions, its personal, business, or trade secrets, including this contract and fee schedule, to any third party.
Both parties understand that any breach of confidentiality may result in legal action and damages. The provisions of this section shall survive the termination of this Contract for whatever reason.
Indemnification
The AGENT is ultimately responsible for acquiring the appropriate signatures of all parties involved in the transactions and returning documentation to NorthGroup Transactions.
The AGENT agrees that they will abide by any and all state and federal laws as applicable to these types of transactions and that they are duly licensed by the appropriate entities.
The AGENT hereby agrees to release NorthGroup Transactions from any and all liabilities that may arise by virtue of these real estate transactions and the AGENT further agrees to indemnify, defend and hold NorthGroup Transactions harmless from all claims, disputes, litigation, judgments, and attorney fees that may arise in connection with these transactions and also from any incorrect information supplied by third parties to NorthGroup Transactions, or from any material facts that third parties know but fail to disclose to NorthGroup Transactions.
Agreement Modification
No modification or alteration on this Contract shall be considered as having been made unless done with consent by the Parties and fully executed in writing.
Governing Law
This Agreement shall be governed by and construed in accordance with state and federal laws and regulations.