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General Terms and Conditions (T&C) and Price List

General

The company GrundGut GmbH (hereinafter: GrundGut) works as a real estate agent. It gives their clients (= prospective buyer or prospective leaser) the possibility to conclude a purchase contract or renting contract and/or mediates in connection with a prospective purchase or lease in the negotiations between the parties. If successful the prospecting buyer or prospecting leaser has to pay a commission subject to any legal changes, so called German 'orderer principle' (in German: "Bestellerprinzip"). These Terms are the basic regulation of the rights and obligations between the company GrundGut and the seller or landlord and the prospected customers. It is up to the parties to make further modifying agreements in addition to these complementary ones. Prerequisite for the effectiveness of such agreements is that they are made in written form, whereby the exchange of emails this prerequisite is sufficient. All partners agree that in order to process deals, required data is stored electronically by the GrundGut. Sellers and landlords are also in agreement that GrundGut is entitled to use this saved media and documentation to generate marketing materials. Storage of images and data of the real estates even after the termination of the contract is also permitted. Valid for the settlement of disputes is the law of the Federal Republic of Germany. In disputes with merchants jurisdiction is seat of GrundGut.

1. Real estate information and liability for

Seller or landlord, agree to GrundGut using documents completely - maybe in copy - to provide information on grant and contract fully and truthfully. Documents relating to the property be provided by the seller or landlord to GrundGut and will communicate the information comprehensively and truthfully. GrundGut will give the information to the best of their knowledge to the interested parties, but it is not liable for its accuracy or correctness.

2. Prior knowledge

If an offered property is already known to the interested parties, they must reveal this to GrundGut in order to bring GrundGut in the position to decide whether the contract will be continued or cancelled.

3. Distribution of property information

Any unauthorized disclosure of offers from GrundGut to third parties principal and agent of the prospective buyer included, in case of a contract concluded on the Property offered, the submitter in full is subject to commission and fees.

4. Exclusive order contract

GrundGut basically works with a so called 'exclusive agency contract', the contracting seller or landlord agrees with the order for the duration of the contract and will not assign another agent for the real estate. In case of violation of this agreement of the seller or landlord is obliged to compensate the expenses incurred by GrundGut. The assertion of a claim for commission is expressly reserved. Different arrangements are possible, but shall be confirmed in a written way by GrundGut.

5. Commission obligation of the interested

In case of the conclusion of a legally effective purchase or lease contract (so called main contract) due to the detection and /or brokering of GrundGut the prospective customer is committed to pay a commission. This fee is due upon completion of the main contract. The amount of the commission results from the following price list / list of fees and commissions, unless an individual agreement has been made. In case of doubt, at least the customary local commission is agreed. If a main contract is completed to other than those originally proposed conditions or if it concluded on a different property, the validity of this commission claim by GrundGut not apply if they have been made business with the offered transaction cost the same or in its economic success only slightly deviates from the proposed business. A claim for payment of the fee to GrundGut, even if the time and economic context of the first documented mediated agreement or other contractual agreements resulting from this activity come about (repeat business).

6. Permission of the double brokerage

GrundGut may also act as a double agent for both seller and landlord and for those interested as long as this does not damage the interests of the client.

7. Disclaimer

For breach of contract, liability for easy or middle negligence of GrundGut or its agents is excluded. This does not apply to injury to life, limb and health. In a contract with a contractor within the meaning of § 14 BGB (German civil law) the liability to typical and foreseeable damage is limited, not due to gross negligence or wilful misconduct.

8. Severability

If any provision of these Terms be or become invalid, the validity shall not affect the validity of the remaining provisions. The statutory provisions shall take place by any invalid or void provisions.

Fees & Commissions (Price List)

The following commission rates, fees and expenses apply to our work - subject to change - agreed between the interested party and GrundGut and are payable to GrundGut after they have arisen (see General Terms and Conditions, Section 5). GrundGut is entitled to demand advance payments and / or to issue interim invoices. Payments in advance will be balanced with potential success fees. All rates include the statutory value added tax (VAT) applicable at the time the service is accomplished in full.

1. Comission rates (Fees)

(a) Purchase: When real estate property or parts of a co-ownership the commission is 5.95% (five point nine five) of total purchase price including VAT and all of related ancillary services of the seller.

(b) Hereditary building rights: When ordering or transfer of heritable building rights the commission is 5.95% (five point nine five) including VAT of the value of the property and the value of existing structures and buildings.

(c) Leasehold: When ordering or transfer of lease or leasehold the commission is 11.9% (eleven point nine) including VAT to the total annual rent, but at least EUR 500, -.

(d) Transfer of shares: At transfer of shares or other corporate rights, the commission is 5.95% (five point nine five) including VAT on the value of the property is also transmitted.

(e) Purchase and pre-emption rights: At an agreement of purchase and pre-emption rights, the commission is 5.95% (five point nine five) including VAT of the determined value, the results from the total purchase price and all additional services provided by the transferor.

(f) Letting and leasing: For contracts of unlimited duration, the commission a) For commercial leases 3.57 (three point five seven) of the monthly gross rent including VAT (rent plus utilities prepayment) b) Residential tenancy agreements, 2.38 (two point three eight) of the monthly net rent including VAT (rent without tenancy costs of prepayment). In commercial leases in which an option for size, land or time is agreed, an additional commission of 0.6 (zero point six) month rent VAT included will be agreed. This applies even if the exercise of the option is still uncertain.

(g) Arranging of finance: Upon successful arranging of finance the commission is 3.66% (three point six six) including VAT of the loan amount, but at least EUR 1,000.00 (one thousand).

2. Fee based services

(a) In the case of activities performed as part of fee-based advice, GrundGut only calculates the expenses actually incurred in accordance with a separate list of work or activities done with an amount of EUR 149.00 (one hundred four nine) including VAT per hour or part thereof.

(b) The calculation is made to the minute, alternatively according to time units. One time unit corresponds to 10 minutes.

(c) Weekend, holiday or night work is not shown separately, there are no surcharges.

(d) Business expenses and out-of-pocket-expenses are calculated separately. We do not calculate an administrative surcharge for this.

(e) Travel costs are calculated at EUR 0.75 (zero point seven five) including VAT per kilometre travelled.

3. Reimbursement of expenses

(a) As a reimbursement of expenses, GrundGut only calculates the expenses actually incurred in accordance with a separate list of work or activities. Regardless of the type of activity such as needs assessment, property inception, creation of a property sales exposé, change of the exposé, property inspect- ion trip, property appraisal inspection, property documents review, telephone, email and other correspondence, provision, dispatch and control of documents, travel and absence times and others activities that arise in connection with the sale process, an amount of EUR 119.00 (one hundred one nine) including VAT per hour or part thereof.

(b) The calculation is made to the minute, alternatively according to time units. One time unit corresponds to 10 minutes.

(c) Weekend, holiday or night work is not shown separately, there are no surcharges.

(d) Business expenses and out-of-pocket-expenses are calculated separately. We do not calculate an administrative surcharge for this.

(e) Travel costs are calculated at EUR 0.75 (zero point seven five) including VAT per kilometre travelled.

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