It is understood and agreed that the Broker commission structure will be based on the stated Terms and Conditions of sale of the above reference auction and that said commission will be based on the successful high bid (the Hammer Price)* on the property. Commission is to be paid only to the licensed Real Estate Broker named herein upon closing, where permitted by law, if the above named Buyer is the high bidder at auction and the subject property is sold to the same Buyer. Only the first registration of a prospective Buyer received will be honored. Brokers may not represent themselves as a Buyer. The intent of this broker co-op arrangement is to encourage Realtors to fund potential purchasers for the auction. Persons not originally represented by a Broker who have contacted the auction and requested information will be ineligable for the subsequent broker co-op. BROKER PARTICIPATION FORMS MUST BE RECEIVED 48 HOURS PRIOR TO AUCTION.

Brokers must be present at the auction and assist their Buyers during the auction in which their Buyers are the successful bidders and the preparation of the agreement of sale to receive said commission. No commission will be paid to Brokers on any sale to an entity of which (or any affiliate of which) they are principals, employees or affiliates, or immediate family members.