(Listing Company) (Name of Licensee)
is functioning as(__) Seller's Agent(__) Designated Seller's Agent(__) Transaction Broker
(Selling Company) (Name of Licensee)
is functioning as(__) Seller's Agent(__) Designated Seller’s Agent(__) Seller’s Sub Agent
(__) Transaction Broker(__) Designated Buyer’s Agent(__) Buyer’s Agent
. Licensees functioning as Seller's agents have a duty to act as agent for the Seller's interest and will not be the agent of the Buyer. Information given by the Buyer to a Seller's agent will be disclosed to Seller. If checked above, undersigned Buyer acknowledges that this disclosure was given orally or in writing.
. Licensees functioning as an agent of the Buyer have a duty to act as agent for the Buyer's interest and will not be the agent of the undersigned Seller. Information given to the Licensee will be disclosed to the Buyer. If checked above, undersigned Seller, or Seller's agent, acknowledges that this disclosure was made either orally or in writing no later than the first showing of this Premises.
. A Transaction Broker assists with a real estate transaction without being an agent of either the Buyer or the Seller. If checked above, this disclosure was made to both Seller and Buyer immediately in writing as shown on the required disclosure forms attached hereto. All material facts and information given to a Transaction Broker will be disclosed to both Buyer and Seller.
. A Designated Agent has all of the duties and obligations of a Seller's or Buyer's agent and acts for the client to the exclusion of all other affiliated licensees. The appointment of a designated agent is made in a written agency agreement with the Seller or Buyer. A designated agent may disclose confidential information, for the purpose of seeking advice or assistance for the benefit of the client, to the Supervising Broker or the affiliated licensee who has assumed the role of Transaction Broker.
9.. The term "Escrow Agent" shall mean the escrow Closing agent selected by the parties, Buyer's lender or Broker. The term "Non-Refundable" when used in connection with a payment made or to be made by Buyer, unless otherwise expressly stated herein, shall mean that Buyer shall not be entitled to return of the payment under any circumstances, except if Seller fails to materially perform under the terms of this Contract.
10.. Seller shall convey the Premises to Buyer by general warranty deed, free and clear of all liens and encumbrances, except as herein provided and as otherwise approved by Buyer. Purchase of the Premises is subject to any covenants, restrictions, declarations, zoning laws, easements, rights-of-way, building set-back lines, special assessments, community contracts, taxes and assessments due in the future, and other items referred to in this Contract or of record, not inconsistent with residential use. Buyer shall be responsible for the payment of all recording fees including any mortgage registration tax.
11.. Seller shall furnish Buyer marketable title, subject to liens, encumbrances, exceptions or qualifications specified in this Contract and those which shall be discharged by Seller at or before Closing. Seller agrees to provide Buyer or Buyer's representative with Title Insurance. Seller shall furnish Buyer, before Closing, a commitment for an owner's title insurance policy in the amount of the purchase price, insuring Buyer's title subject only to liens, encumbrances, exceptions, or qualifications set forth in this Contract, and those which shall be discharged by Seller at or before Closing. Buyer shall have five (5) days after receipt, to examine the title insurance commitment and to notify Seller in writing of any requirements to make the title marketable. Seller shall have until Closing to cause the title to be made marketable. If defects precluding marketability are not removed by Closing, Buyer may either accept title or cancel this Contract and obtain an immediate refund of Buyer's Earnest Money. Seller shall diligently attempt, before Closing, to correct any defects to marketability of which Buyer has notified Seller in writing. In case of dispute between the parties as to marketability of the title, the Title Standards adopted from time to time by the Bar Association of the State of Kansas, and the Kansas Marketable Title Act, as amended, shall control. The expense for the title commitment and owner's policy of title insurance described herein shall be paid ________% by Seller and ________% by Buyer (if blank, Seller and Buyer shall each pay one-half of the cost).
12.. Buyer acknowledges and agrees that title to the Premises may be subject to certain declarations and restrictions of a Homeowners' Association or developer (the "Declarations and Restrictions"), which may provide that the right to make the final decisions on the placement of the Home on the Premises, approval of exterior paint/stucco colors of the Home, and use of