(hereinafter the “Term”). In the event you sign a contract of sale during the Term of this Agreement, you agreethat the expiration date of this Agreement shall be extended until such time as a closing takes place for the Property in accordance with the terms of the contract, or until such time as the sale contemplated in the contract is terminated, for whatever reason. Nothing contained herein is intended to reduce the Term of this Agreement. 4. You authorize us to offer the Property for sale at a price set forth below or subsequently authorized by you in writing, and represent that the common changes, percentage of common interest and real estate taxes (or maintenance and number of shares) are as listed below. You also agree that we may rely on any other information you provide to us about the Property. 5. We agree to offer the Property for sale; advertise and market it; arrange inspections and open houses, and submit to you and negotiate all offers made by prospective purchasers. We agree to advertise the Property at our expense. You authorize us to create and direct all marketing and agree that no other advertising or marketing shall be permitted unless specifically authorized by us. In our effort to best market and advertise the Property we will arrange for professional photography and other media such as floor plans, videography, virtual staging, etc. (if appropriate). To permit scheduling, preparation, and completion of these services you hereby permit us to: (i) complete these services, and (ii) delay the marketing, advertising, and releasing of listing information to the brokerage community and general public for a period of up to _____ business days. 6. In the event the Property is sold pursuant to this Agreement, you will pay us a commission equal to____________ percent of the total sales price for the Property and any garage or parking space, storage space, and/or household furnishings included under the contract of sale. If during the Term of this Agreement, we, you, another broker, finder, or other person finds a purchaser for the Property, you agree to pay to us the full commission set forth herein. 7. In our effort to effect a satisfactory sale you authorize us at our own discretion (i) to solicit the cooperation of other licensed real estate brokers (hereinafter “Cooperating Brokers”) who will act as agents of prospective purchasers, and (ii) to work with them on a cooperating basis for the sale of the Property. In the event that a Cooperating Broker solicited by us is involved in the transaction the total commission shall be______ percent of the sales price for the Property and any garage or parking space, storage space, and/or household furnishings included under the contract of sale. We shall pay the Cooperating Broker a commission in accordance with a separate co-brokerage agreement between us and such broker. In no event shall the commission paid by you exceed __ percent of the selling price. For purposes of this Agreement, other agents associated with Elite NY Holdings and not named as Exclusive Agents herein shall be treated as cooperating brokers and compensation shall be due as provided for in this paragraph. 8. You understand that we represent you except if another Elite NY Holdings agent represents the buyer. In that case, Elite NY Holdings will be a dual agent with designated agents representing the seller and buyer. In all instances, Elite NY Holdings treats all parties fairly and honestly. Attached is a description of the different types of agency relationships. 9. Payment of the commission shall be disbursed from the proceeds paid to the owner at the closing and shall be in the form of a certified check or attorney's check. If a closing of the sale does not occur for any reason whatsoever, except by willful default of the Seller, no commission shall be due. If you willfully default and fail to close on the sale of the Property, after a contract of sale is fully executed, then we shall be entitled to our full commission. 10. During the term of this agreement, you agree to refer to us all inquiries, proposals and offers received by you regarding the Property including, but not limited to, those from principals and other brokers. You further agree to conduct all negotiations with respect to the sale or other disposition of the Property solely and exclusively through our firm. If, during the term of this agreement, you decide to offer the Property for rent/sublet, either simultaneously with or instead of for sale, Elite NY Holdings will have the exclusive right to rent/sublet the Property.