THIS AGREEMENT sets forth the terms and conditions upon which the undersigned broker ("Broker") shall be paid a referral fee for any of its' licensed agents (each, an "Agent") referring their client(s) to Harborview Place ("HVP"), Nantucket Island, Massachusetts. The developer of HVP has hired Destination Club Realty, Inc. ("DCR") to act as the managing broker in connection with the marketing and sale of properties at HVP.
1.Destination Club Realty, Inc. shall pay referral fees to Broker for any of its licensed agents introducing to HVP purchasers of Residence Club ownerships, 8/8th bundled ownership or conventional whole ownership. Such referral fee shall be four percent (4%) of the aggregate selling price of the property, payable through the escrow company at the close of escrow.
2.To qualify for the referral fee, Broker must (a) execute this Agreement and (b) Agent must submit a Broker Client Registration form to DCR prior to a client's first contact with or visit to the sales center for HVP. Only one referral fee will be paid for each sale. If the client has previously visited HVP or has been previously registered with DCR through a different agent, then Agent shall not be eligible for a referral fee.
3. If there is a dispute among parties who each claim to be the Agent of the same purchaser, the referral fee shall be retained in escrow by the escrow company until either (i) the competing agents agree in writing as to the distribution of the referral fee, or (ii) a court of competent jurisdiction issues a final judgment setting forth the manner in which the referral fee is to be spilt and/or paid. If the escrow company is required or elects to interplead the disputed referral fee in the appropriate court, such escrow company shall be entitled to its cost of interpleaded as provided by Massachusetts law, which shall be deducted from the referral fee.
4. After the introduction of the client by Agent to DCR, all contracts and follow-up shall be handled by DCR and its staff. No contract will be accepted on forms other than those provided by DCR. In addition, DCR or its staff shall handle and supervise all property tours and other on-site activities at HVP involving Broker, its Agents, or its client(s).
5. The referral of a client by Broker or Agent or the payment of a referral fee does not establish any agency relationship between Owner, HVP and /or DCR and Broker. Any referral fee paid to Broker is for Broker's or Agent's referral of the purchaser of that property at HVP only.
6. If contracts to purchase property at HVP are accepted and later terminated before close of escrow, for any reason, Broker shall not be entitled to a referral fee.