Marcus & Millichap of New Jersey, LLC (“M&M”) has been hired
on an exclusive basis by Owner (the “Owner”) with respect to offering for
sale the 100%
fee simple interest in 420 Springfield Avenue, Newark, NJ, USA (the “Property”). This
agreement (“Agreement”) is between M&M and the undersigned party
(“Buyer”) who is interested in reviewing the Offering Memorandum/financial
material to evaluate their interest in the acquisition of investment real
estate. All offers and purchase agreements for the Property from Buyer or
its affiliates shall be submitted through the Cafiero Team of M&M.
Buyer shall not contact Seller directly or act either directly, indirectly,
through any third parties including affiliates, clients, or other brokers
to circumvent the process of this Agreement or deprive M&M of its fees. M&M
may represent both Buyer and Seller. M&M may solicit, represent, and accept
offers for the Property from other potential Buyers without obligation to
Buyer.
1. The identity of the Property and related information is provided for
the sole purpose of having Buyer evaluate the purchase of the
Property for itself or its affiliates. Buyer and its affiliates shall
keep the identity, related information and discussion confidential,
and not reproduce, distribute or disclose such information to third
parties. M&M shall not be responsible for the accuracy or completeness
of the information provided, or for any loss or expense, whether direct
or indirect, arising from Buyer’s or its affiliate’s use and reliance
on the information.
2. Buyer hereby agrees to not use the contents of these materials in any
manner detrimental to the interest of the Owner. Following review
of the material, if Buyer no longer has any further interest or does not
wish to pursue further discussions leading to the sale of the subject
Property, upon request, Buyer shall return said material in its original
form to M&M. Any violation of this agreement shall be viewed as a
breach,
as this material is strictly confidential.
3. The undersigned principal or any company or entity in which the
undersigned principal has a controlling interest, including real estate
brokerage
companies, shall not be paid any form of commission or fee by the Seller
or Marcus & Millichap for the purchase of the Property. Neither the
Seller
nor M&M shall be liable for any fee or commission due to any broker
claiming to represent the undersigned.
4. The Buyer hereby indemnifies and holds harmless M&M and the Owner and
their respective affiliates and successors and assigns against and from
any loss,
liability or expense, including attorney’s fees, arising out of any
breach of any of the terms of this Agreement.
5. The Buyer acknowledges that the Property has been offered for sale
subject to withdrawal from the market, change in offering price, prior
sale or rejection
of any offer because of the terms thereof, lack of satisfactory credit
references of any prospective purchaser, or for any other reason
whatsoever, without
notice. The Purchaser acknowledges that the Property is being offered
without regard to race, creed, sex, religion, or national origin.
6. The Term of this Agreement is one year, which shall be automatically
extended through the closing of any purchase and sales transaction for
the Property entered
into by Buyer or its affiliates during the term thereof.
Buyer acknowledges that real estate brokers are not qualified experts
for legal, financial, accounting, environmental, construction, soils,
and geological or engineering advice.
