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General Terms and Conditions

1. The basis for our brokerage services
IMMOMENTE Berlin GmbH acts as a referral agent and intermediary broker. We devote the utmost attention and care to all broker appointments in the interest of our Principals while observing the principles of a prudent businessman. Our work is based on §§ 652 ff BGB (German Civil Code) and § 34 c GewO (German Industrial Code) as well as on MaBV (German regulation governing real estate agents and property developers). These General Terms and Conditions regulate the rights and obligations of both sides as set out in the brokerage contract, inasmuch as no other supplementary, deviating written agreements have been concluded. We also have the right to perform work for the other party to the envisioned primary contract. This does not affect the obligation on the part of the respective Principal to pay a commission.

2. Exposé – information, binding force of offers
Our offers are without obligation and non-binding. The information in our offers is based on the information provided to us by third parties, in particular by the party offering the property for sale. We make every effort to obtain information that is as complete and correct as possible. We cannot, however, accept responsibility for the accuracy or completeness of the information. Our information is without obligation; the right to make a prior sale is reserved, which shall not, however, conflict with the commission obligation based on the following regulations.

3. Confidentiality of offers
All of our offers and communications are intended solely for the Principal (the commissionable party) or, respectively, for the recipient whom we address directly, and may not be passed on to third parties. Should a primary contract be concluded with a third party due to the unauthorised conveyance of information, the Principal shall be obliged to pay a contractual penalty in the amount of the commission stated in the exposé or, respectively, the agreed commission.

4. Prior knowledge
Should the Principal (the commissionable party) have prior knowledge of an opportunity to conclude a contract listed by us, he must notify us of this fact in writing without delay, at the latest within eight days, stating the source, and provide verification thereof upon request. In case of violations, Clause 5 para. 3 shall apply. Until proof of prior knowledge has been provided, our documentation shall be deemed as being the incipient cause for the conclusion of the primary contract.

5. Obligation to cooperate and provide information
In negotiations with the potential contractual partner of the primary contract, the Principal (the commissionable party) is obligated to make reference to our brokerage service and to inform us about the content of the negotiations without delay. We have the right to be present at the conclusion of the contract; the time and place thereof must be communicated to us in writing in a timely manner. The Principal (the commissionable party) is obligated to send us a duplicate of the concluded primary contract. Should the Principal (the commissionable party) no longer intend to conclude the contract, or should some such assignment given to us prove otherwise invalidated, the Principal is obliged to inform us thereof in writing and without delay. Should the Principal (the commissionable party) violate his obligation to provide information, he shall be obliged to reimburse our costs for advertising, travel, postal charges, photocopies, etc. in the amount of 5% of the agreed commission and – insofar as the violation causes a loss of the entitlement to a commission – a further flat-rate for the profit lost in the amount of 30% of the agreed provision. The Principal (the commissionable party) is reserved the right to demonstrate a lesser damage.

6. Commission rates
Our brokerage services are performed on the basis of profit commissions. The commission rates are calculated basically according to the information provided in our exposés. They are additionally subject to the currently applicable value-added tax. If there is no written indication given by us concerning the amount of the commission, a commission of 6% plus turnover tax shall be deemed agreed upon.

7. Our entitlement to a commission
The right to receive a commission arises as soon as the envisioned primary contract is effectively concluded on the basis of our brokerage or referral services. It suffices that our contribution is even partially instrumental. The right to a commission also ensues if the primary contract is concluded at a later time or under different conditions, as long as the same commercial success is achieved for the Principal (the commissionable party). Should a transaction materialise other than the originally intended primary contract (e.g. purchase, heritable building right, lease, rent) but due to our intermediary activity, the customary commission due locally shall be paid unless otherwise specified in our offer.

8. Due date for payment of commission
The commission is deemed earned on the day that the primary contract is effectively concluded, or on the day of the acceptance of a bid at auction, and is due for payment without deduction. Should the primary contract be cancelled or rendered invalid at a later time, this shall not affect the entitlement to the commission. The payment is to be made into the bank account named in our invoice. Should there be a delay in payment on the part of the Principal (the commissionable party), interest shall be due in the amount of 8% above the basic interest rate. If the Principal is a consumer, the interest rate shall be 5% above the basic interest rate. We reserve the right to assert further interest claims or compensation claims.

9. Compensation for damages
Claims against us concerning compensation for damages are excluded, unless they are based on wilful misconduct or grossly negligent behaviour. Exceptions to this are injury to life, body and health.

10. Place of fulfilment, place of jurisdiction, applicable law
The place of fulfilment and jurisdiction for brokerage contracts with traders is Berlin. All other contractual relationships with our Principal shall be governed exclusively by the laws of the Federal Republic of Germany.

11. Final provisions (Salvatorial clause)
Deviations from, or changes to, these General Terms and Conditions will become part of the brokerage contract only through our express written approval. Should any portions of our General Terms and Conditions be invalid, the validity of the other conditions and the brokerage contract shall remain unaffected. Both parties are obligated to substitute for the invalid clause or gap in the contract a provision that comes closest to the economic meaning of the original provision.

Issued 2011