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Confidentiality Agreement

Whereas, Marcus & Millichap Real Estate Investment Services is disclosing to “Prospective Purchaser” a rent roll, financial, and other related information (the “Information”) in connection with the possible purchase of Orchard Courts Apartments, Kenosha, Wisconsin. The “Information” pertains to business ventures and properties under the authority of the seller and the exclusive right to sell the subject property; As used herein, the “Information” shall be deemed to include, without limitation, materials provided both prior to or following the date hereof.

Whereas, “Prospective Purchaser” acknowledges that these matters and items are being received in confidence; Therefore, “Prospective Purchaser” agrees as follows:

I agree to keep the “Information” confidential, to use the “Information” for no other purpose than the possible business transaction indicated above, to refrain from allowing the “Information” or copies thereof to come into the possession of third parties who are not directly involved with such possible business transaction. I further agree not to divulge, communicate or disclose the “Information” except as may be required by law or for the performance of any agreement entered into by both parties, to refrain from using the “Information” for competitive purposes or for purposes which are contrary to the interests of the owner of the property or the provider of the “Information” as hereafter specified and to, if requested, return the “Information” and all copies thereof to: Attention: Ryan D. Engle, Marcus & Millichap, One Mid America Plaza, Suite 200

Disclosure and Consent to Dual Agency

The Agent may undertake a dual representation (represent both the seller and the buyer) for the sale of property. The undersigned Buyer acknowledges they were informed of the possibility of this type of representation. Before signing this document, please read the following: 

Representing more than one party to a transaction presents a conflict of interest since both clients may rely upon Agent's advice and the client's respective interests may be adverse to each other. Agent will undertake this representation only with the written consent of ALL clients in the transaction. 

Any agreement between the clients as to a final contract price and other terms is a result of negotiations between the clients acting in their own best interests and on their own behalf. You acknowledge that Agent has explained the implications of dual representation, including the risks involved, and understand that you have been advised to seek independent advice from your advisors or attorneys before signing any documents in this transaction. 

WHAT AN AGENT CAN DO FOR CLIENTS WHEN ACTING AS A DUAL AGENT

1)    Treat all clients honestly
2)    Provide information about the property to the buyer.
3)    Disclose all latent material defects in the property that are known to the Agent.
4)    Disclose financial qualification of the buyer to the seller.
5)    Explain real estate terms.
6)    Help the buyer to arrange for property inspections.
7)    Explain closing costs and procedures.
8)    Help the buyer compare financing alternatives.
9)    Provide information about comparable properties that have sold so both clients may make educated decisions on what price to accept or offer.

WHAT AN AGENT CANNOT DISCLOSE TO CLIENTS WHEN ACTING AS A DUAL AGENT

1)    Confidential information that Agent may know about a client, without that client's permission.
2)    The price the seller will take other than the listing price without permission of the seller.
3)    The price the buyer is willing to pay without permission of the buyer.
4)    A recommended or suggested price the buyer should offer.
5)    A recommended or suggested price the seller should counter with or accept.

If either client is uncomfortable with this disclosure and dual representation, please let Agent know. You are not required to sign this document unless you want to allow Agent to proceed as a Dual Agent in this transaction. 

By signing, you acknowledge that you have read and understand this form and voluntarily consent to Agent action as a Dual Agent (that is, to represent BOTH the seller and the buyer) should that become necessary.

NO REPRESENTATION IS MADE BY AGENT AS TO THE LEGAL OR TAX EFFECT OR VALIDITY OF ANY PROVISION OF THIS DOCUMENT. AGENT IS NOT QUALIFIED TO GIVE ADVICE ON LEGAL OR TAX MATTERS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT YOUR ATTORNEY OR TAX ADVISOR.