CONFIDENTIALITY AGREEMENT

Multifamily Portfolio - Rochester, MN Statistical Area

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Metro Group Real Estate has been engaged to act as a Facilitator in connection with the proposed property sale indicated by the property address above.  Seller has granted Metro Group Real Estate the right to present potential Purchasers of the Subject Property.  Seller has requested Buyers coordinate via Metro Group Real Estate for property visits, due diligence, offer submissions and closing process. 

 

This will serve to confirm you agree to the terms expressed by Metro Group Real Estate concerning certain material, data and information (the “Offering Materials”) which the owner may make available to you as the (“Prospective Purchaser (Buyer) or Broker/Agent”) for study in connections with a possible purchase by Prospective Purchaser of the Subject Property with related improvements, located at the above mentioned address

 

1. In connection with your request, Metro Group Real Estate shall provide to the Buyer and its designated representatives, an opportunity to examine the certain confidential records and the Property, as may be reasonably requested by them.  In examining the confidential records and Property, Buyer/Buyer’s Representative shall act in a manner to prevent disruption to or interference with the activities conducted at the Property and the business of Owner/Seller/Property Management.

2. All information provided or to be provided by Metro Group Real Estate, its officers, directors, employees, affiliates and agents, to Buyer, its officers, directors, affiliates and agents in connections with your evaluation of the Property, whether written or oral, is provided on a strictly confidential basis for the Buyer’s use solely in evaluating the possible purchase of the Property and may not be used for any other purpose or disclosed, reproduced or disseminated without the prior written consent of Seller/Owner (except as may be required by law or regulatory or judicial process and except for documents which are recorded in the public records). 

3. Buyer agrees to hold in strict confidence all confidential information obtained with respect to the Property.  Upon demand by Seller/Owner or Seller’s Broker at any time, Buyer shall return to Seller/Owner or Seller’s Broker all confidential information provided to Buyer without retaining any copies or abstracts thereof.  Any unauthorized disclosure or use of the confidential information by Buyer may cause irreparable harm and result in significant damages to Seller/Owner and such harm and damages may be difficult to ascertain.  Therefore, Seller/Owner shall have the right to an immediate injunction against any breach of this letter agreement by Buyer.  The provisions of this paragraph shall survive expiration or termination of this letter agreement.

4. Neither Metro Group Real Estate nor the Owner makes any claims or assumes any responsibility for the accuracy or completeness of the Confidential Information. This information was furnished to Metro Group Real Estate by others and has not been in-dependently verified by Metro Group Real Estate. Neither the Owner nor Metro Group Real Estate shall have any liability for any rea-son to the Prospective Purchaser and/or Broker resulting from the use of the Confidential Information by the Prospective Purchaser and/or Broker.

5. This letter shall be interpreted in accordance with the laws of the State of Minnesota, applicable to agreements made and performed in that state.  This letter states the complete agreement between the parties and all prior negotiations and agreements, if any, are merged in this letter.  This agreement may not be changed, modified or discharged orally, but only by a written instrument executed by the party against whom enforcement of the change, modification or discharge is sought.

 

By e-signing below, you agree to the above terms and conditions.