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 157 Jefferson Ave, Elizabeth, 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.