TOWN OF VULCAN

POLICY NUMBER: F-5a Motion Number: 98.183

TITLE: Sale of Town-Owned Lots, Real Estate

Co-Sales Agreement

ADOPTED BY COUNCIL AT A

REGULAR/SPECIAL COUNCIL

MEETING: June 22, 1998

By-Law Number:

STATEMENT:

Procedure and Agreement for the sale of Town-owned lots by Real Estate Companies shall be as follows:

� As agreed by Council (Motion No.98.183), an agreement may be entered into with a real estate company

to sell two classes of property owned by the Town of Vulcan:

� Residential

� Commercial/Industrial

� Sale of Residential Lots

Where an agreement (Appendix A) has been entered into with a real estate company, a commission of five

percent (5%) will be paid to the real estate company as per the agreement.

� Sale of Commercial Lots

Where an agreement (Appendix A) has been entered into with a real estate company, a commission of

three percent (3%) will be paid to the real estate company based on fair market value as per the agreement.