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TXR 1302 — Commercial Real Estate Listing Agreement, Exclusive Right to Lease

This listing agreement is used when a commercial property landlord hires a broker to find tenants for commercial space under an exclusive right to lease arrangement. It appoints the broker as the landlord's sole and exclusive agent with the exclusive right to lease the Property, sets the base rental rate and the marketing terms (lease term, expense-reimbursement method, percentage rent, parking, rent increases, tenant improvement allowance), establishes the broker's fee, when it is earned and payable, and the additional fees for renewals, extensions and expansions, for a sale of the Property and for reimbursable expenses, and sets the listing term, protection period, named exclusions, intermediary status, the landlord's representations and health-and-safety disclosures, and the parties' obligations.

Source: TXR
Form Number: 1302
Category: Other
Revised: July 8, 2022

Used For

COMMERCIAL_LEASING

Form Outline

The TXR 1302 form is organized into the following sections:

  1. 1. PARTIES
    Identifies the landlord and broker, and appoints Broker as Landlord's sole and exclusive real estate agent with the exclusive right to lease the Property.
  2. 2. PROPERTY
    Defines the Property — building or complex, address, city, county, zip, legal description of the land and the approximate rentable area (which may include an allocation of common areas). If the Property is a condominium, attach the Condominium Addendum to Listing (TXR-1401).
  3. 3. LISTING PRICE
    The base rental rate Broker markets the Property at (3A) and the terms Broker markets it under (3B): lease term, expense-reimbursement method, percentage rent, parking rental, rent increases, tenant improvement allowance and any other term. Each ¶3B term's box is checked automatically when the term is filled in.
  4. 4. TERM
    When the Listing begins and ends, and the date after which Landlord may terminate it on notice to Broker.
  5. 5. BROKER'S FEE
    Broker's fee (5A), when it is earned (5B) and payable (5C), the other fees for renewals, extensions and expansions with tenants procured by Broker and with existing tenants, fees in event of a sale, service-provider referrals and reimbursable expenses (5D), the protection period (5E) and the county of payment (5F).
  6. 6. EXCLUSIONS
    Persons excluded under a prior listing agreement (6A), the reduced fee Landlord pays Broker if the Property sells or leases to a named exclusion before the date specified (6B), and whether Broker will assist with that lease or sale (6C).
  7. 7. ACCESS TO THE PROPERTY
    Landlord instructs Broker to access the Property at reasonable times, authorize other brokers, inspectors, appraisers, lenders, surveyors, engineers and repair persons to enter, and duplicate keys for showings.
  8. 8. COOPERATION WITH OTHER BROKERS
    Broker will allow other brokers to show the Property and will offer a cooperating broker who procures the tenant a portion of Broker's fee under Paragraph 5.
  9. 9. INTERMEDIARY
    Whether Broker may act as an intermediary when a prospect Broker represents offers to lease or buy the Property (check A or B only).
  10. 10. CONFIDENTIAL INFORMATION
    Broker may not knowingly disclose information obtained in confidence from Landlord, or from any other person Broker represents, except as authorized or required by law.
  11. 11. BROKER'S AUTHORITY
    Broker's marketing authority — "For Lease" signage, Internet and listing-service placement, disseminating information, accepting security deposits in trust, electronic platforms — while Broker may not execute documents in Landlord's name.
  12. 12. REPRESENTATIONS
    Landlord's representations about title, other listings, options, encumbrances and intellectual property (12A) and how known conditions affecting the health or safety of an ordinary tenant are disclosed (12B — check (1) or (2) only).
  13. 13. LANDLORD'S ADDITIONAL PROMISES
    Landlord agrees to cooperate with Broker, refer all prospective tenants, not list with another broker, provide rent rolls, leases, plans, surveys, operating statements and reports, advise of tenant changes, complete disclosures and remove other signs.
  14. 14. LIMITATION OF LIABILITY
    Vacancy-clause notice to Landlord's insurer; Broker is not liable for injury, loss or damage not caused by Broker; Landlord indemnifies Broker for nondisclosure, incorrect information, intellectual-property claims and Landlord's negligence.
  15. 15. SPECIAL PROVISIONS
    Open-text area for additional negotiated terms and special conditions.
  16. 16. DEFAULT
    Landlord's breach makes Landlord liable for the Paragraph 5A fee and other fees; the Listing Price stands in for the rental rate when one is not determinable; Broker's breach lets Landlord exercise any remedy at law.
  17. 17. MEDIATION
    Good-faith negotiation, then mediation with a mutually acceptable mediator and shared costs.
  18. 18. ATTORNEY'S FEES
    The prevailing party in any legal proceeding under this Listing recovers costs and reasonable attorney's fees.
  19. 19. ADDENDA
    Addenda or information that are part of this Listing (check all that apply), with one write-in.
  20. 20. AGREEMENT OF THE PARTIES
    Entire agreement, assignability, binding effect, joint and several liability, governing law, severability, partial leases or sales, and notices.
  21. 21. ADDITIONAL NOTICES
    Fees are negotiable; fair-housing notice; Broker cannot give legal advice.
  22. Execution
    Signature block for Landlord (up to two signers, entity-style "By:" lines with printed name and title) and for Broker (company name, license numbers, and the signer's printed name and title).

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