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2023-172
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2023-172
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Last modified
10/5/2023 11:37:27 AM
Creation date
10/5/2023 11:36:09 AM
Metadata
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Template:
Official Documents
Official Document Type
Amendment
Approved Date
08/29/2023
Control Number
2023-172
Agenda Item Number
8.I.
Entity Name
Colliers International Florida, LLC
Subject
First Extension and Amendment to Agreement for Real Estate Broker Services
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FIRST EXTENSION AND AMENDMENT TO AGREEMENT <br />FOR REAL ESTATE BROKER SERVICES <br />This First Extension and Amendment to that certain Agreement to provide Real Estate Broker <br />Services is entered into effective as of November 2, 2023 by and between Indian River County, apolitical <br />subdivision of the State of Florida ("County") and Colliers International Florida, LLC. ("Broker"). <br />BACKGROUND RECITALS <br />WHEREAS, the County and the Broker entered into an Agreement for Real Estate Broker Services <br />effective November 2, 2021; and <br />WHEREAS, Paragraph IV of the Agreement contains the term and renewal provisions; and <br />WHEREAS, the first term commenced effective as of November 2, 2021 and will end on November 1, <br />2023; and <br />WHEREAS, pursuant to the Agreement, the parties desire to extend the Agreement for an additional <br />two years; and <br />WHEREAS, the parties desire to amend Paragraph V. Compensation of the Agreement; and <br />NOW, THEREFORE, in consideration of the foregoing, and other good and valuable consideration, <br />the receipt and sufficiency of which are hereby acknowledged, the County and the Broker agree as follows: <br />1. The background recitals are true and correct and form a material part of this First Extension. <br />2. The first renewal term shall commence effective November 2, 2023 and shall end on November 1, <br />2025. There is a single two-year extension available on the contract. <br />3. Paragraph V. Compensation is amended to change the following sentence in the first paragraph "The <br />total amount to be paid by the County to the Broker shall be strictly limited to a fee based on an agreed <br />upon commission rate of 4% of the Purchase Price or 6% Lease/Rental Rate (the "Broker Fee".) <br />3. All other terms and provisions of the Agreement shall be unchanged and remain in full force and effect. <br />
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