EXCLUSIVE RIGHT TO LEASE AGREEMENT (MISSOURI)

 

THIS AGREEMENT is made by and between****SECURED INVESTMENT RESOURCES FUND, L.P. II, a Delaware limited partnership (“OWNER”) and WINBURY REALTY OF KANSAS CITY, INC. (“BROKER”). By this Agreement OWNER retains and appoints BROKER as****OWNER’S Exclusive Agent to assist OWNER with the lease by OWNER of the property described herein (“Property”). OWNER and BROKER expressly agree that BROKER shall have the sole and exclusive right to lease the Property during the term of this Agreement. OWNER agrees to refer all inquiries and prospects OWNER may receive, directly or indirectly, to BROKER, and OWNER hereby gives permission to BROKER to enter the property at reasonable times to show it to prospects.

 

|   | I. | GENERAL DESCRIPTION OF PROPERTY LEASE PRICE LEASE TERMS. |
|--------|----|----------------------------------------------------------|

 

|   | a | Legal Description: To be attached |
|--------|---|-----------------------------------|

 

|   | b | Street Address of Property:  507-579 SE Melody Lane, Lee’s Summit, MO 64063 |
|--------|---|----------------------------------------------------------------------------------|

 

|   | c. | Lease Price: $11.00sq. ft. to $14.00 sq. ft. |
|--------|----|----------------------------------------------|

 

|   | d. | Lease Terms: NNN |
|--------|----|------------------|

 

|   | e. | Other Important Terms under which Property is to be leased:   All leases will be subject to review and approval by Landlord prior to lease execution. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

 

2. TERM OF AGREEMENT. This Agreement shall begin March****1, 2005 and shall continue until midnight February 28, 2006. The Landlord has the right to terminate 30 days after given notice.

 

3. Agency Disclosure.  Attached hereto and incorporated by reference an Agency Disclosure Addendum notifying OWNER of the alternative agency relationship applicable to this Agreement. Owner confirms it has read and signed the Addendum and confirms receiving the Missouri Broker Disclosure Form.

 

|   | OWNER consents to BROKER’S DUAL AGENCY | ______(OWNER’S initials) |
|--------|---------------------------------------------|-------------------------------|

 

|   | OWNER consents to BROKER  as TRANSACTIONAL BROKER | ______(OWNER’S initials) |
|--------|---------------------------------------------------|-------------------------------|

 

|   | OWNER consents to the DESIGNATED AGENT below | /s/JA (OWNER’S initials) |
|--------|----------------------------------------------|-------------------------------|

 

|   | Name of Designated Agent designated by BROKER: | Anita Bates |
|--------|------------------------------------------------|-------------|

 

|   | _________________ |
|--------|-------------------|

|   | Signature of Broker |
|--------|---------------------|

 

        

| NOTICE TO OWNER: | MISSOURI LAW PRESUMES THAT, ABSENT SOME OTHER RELATIONSHIP BEING ESTABLISHED, A LICENSEE WORKING WITH A TENANT REPRSENTS THE TENANT. AS A RESULT, ANY LICENSEE WORKING WITH A TENANT MAY BE REQUIRED TO DSICLOSE ANY INFORAMTION GIVEN TO THEM BY OWNER. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

 

4.   BROKER’S DUTIES. (a) BROKER agrees to use reasonable efforts to lease the Property at the lease price and at the terms stated above or later agreed upon by OWNER and tenant. In furtherance of its duties, BROKER will (1) Perform the terms of this Agreement; (2) Exercise reasonable skill and care for OWNER; (3) Promote the interests of OWNER with the utmost good faith, loyalty, and fidelity, including: (a) seeking a price and terms which are acceptable to OWNER, except that BROKER shall not be obligated to seek additional offers to lease the Property while the Property is subject to a lease or letter of intent to lease; (b) presenting all written offers to and from OWNER in a timely manner regardless of whether the Property is subject to a lease or letter of intent to lease; (c) disclosing to OWNER all adverse material facts actually known or that should have beenknown by BROKER; and (d) advising OWNER to obtain expert advice as to material matters about which BROKER knows but the specifics of which are beyond the expertise of BROKER; (4) Account in a timely manner for all money and property received; (5) Comply with all requirements of §§ 339.710 to 339.860 R.S.Mo., subsection 2 of §339.10 R.S.Mo., and any rules and regulation promulgated pursuant to those sections; and (6) comply with any applicable federal, state, and local laws, rules, regulations, and ordinances, including fair housing and civil rights statutes and regulations. BROKER may show properties not owned by OWNER to prospective tenants and may list competing properties for sale or lease without breaching any duty or obligations to OWNER. BROKER shall cooperate with Property Manager and Owner in investigating all prospective tenants in accordance with credit standards approved by Owner, and shall not present any person not meeting those standards. At the request ofProperty Manager and/or Owner, BROKER shall cooperate with Property Manager to obtain a personal or other guaranty regarding any prospective tenant. 

 

 (b) BROKER shall not disclose any confidential information about OWNEWR unless disclosure is required by statute, rule or regulation or failure to disclose the information would constitute a misrepresentation or unless disclosure is necessary to defend BROKER or an affiliated licensee against an action of wrongful conduct in a n administrative or judicial proceeding or before a professional committee. BROKER owes no duty or obligations to OWNER except that BROKER shall disclose to any customer all adverse material facts actually known or that should have been known by BROKER. BROKER owes no duty to conduct an independent inspection or discover any adverse material facts for the benefit of the customer and owes no duty to independently verify the accuracy or completeness of any statement made by OWNER or any independent inspector. 

 

----