Date roose' AgorBroker: empany: Aetress: Aedes ‘The Roosevelt - Condominium Broker Agent Sales Commissions. Dear AgentBroker ‘This “Commission Lotter Agreement” shall confim the commission stucure, and agreement reached between Mibank’ Real Estalo Sores, Inc, (MILBANK) and yousal ‘a etehnater calecively, “AGENT, regarding the Commisson() to be paid to you la connection with the AGENTs potemal sae(s) of unis to prospective buyers (a “Buyer of residential condominium units within The Roosevelt project being eld by Roosevelt Lots, LLC (he sale), > —_NIILBANK wil pay AGENT a sales commission eqval to two and one half percent (25%) of the purchase ‘rice for each unk purchased by a Buyer, and which such clent is excUBwely procured by AGENT (the “Commision > In order foe the AGENT to quay forthe Comramsson: (i) the Buyer must not have previously contacted the Soler or MILBANK forthe eservaton or purchase of unit witout fst idenng the AGENT (the AGENT must have (and maintain a valid and current rears loerae inthe State of Cafomsa: and (i) the "AGENT must accompany the Buyer when Buyer other reserves a unitor signs a Purchase Agroomont ora une > The Commission shall be paid by MILBANK to AGENT undor the folowing schedule: () one half of the Commission wil be paid ater the mutual execution of the Purchase Agreement, and Seller's receipt ofthe "Deposit (as described inthe Purchase Agreement); and {i the remaining one halt ofthe Commission wl be paid upon the "Close of Escrow’ (as described inthe Purchase Agreement), > Inthe event that Buyer's pays the Deposit, (and provided further, that Seller retains the Inti Deposit and Construction deposi), but Buyor does not proceed with the Close of Escrow (as dofined in the Purchase ‘Agreement), then MILBANK agroes not to demand repayment ofthe Commission from the AGENT. AGENT Understands, acknowledges, and agrees however, that a Commission shall only be payable, and ‘onretundabie to AGENT, oniy ifthe Buyer has actually pad the corresponding Deposit and the same isnot refunded to Buyer. In the event thatthe Buyer has fallad to timely pay any such depost,or it any daposit hhas to be returned by MILBANK to the Buyer, then AGENT shall be required to refund any Commission that hhas been advanced by MILBANK, and shall not be entiied to any Commission [AGENT is sticty prohibited from representing the Seller. of presenting any information to prospective buyers through advertising or promotion ofthe projec (inuding without limitation, setting up ary website, ising any units on the ‘Muttple Listing Service, or otherwise attempting tO sell any units within the project), without the Selers advance ‘writen consent, with may be withheld or reused in Selle’s sole and absolute discretion, AGENT shall not make any relerences or fepresentations regarding the potential future economic benefits of the project to any potential prospective buyers. AGENT acknowledges, confime, and hereby agrees that any violation of thi Commission Letter ‘Agreement shal sulin a torture of any and all Commissions) payable to AGENT, as well as logal exposure to a aim for damages by Seller or MILBANK in connection with any such violation ‘This Commission Leter Agreement represents the entre agreement between MILBANK and AGENT with respect to the commissions thal the AGENT is ents to reosive n cannacton wih The Rcseveltcandominiom projet. AE other discussions, terms, arrangaments, or agreements, whether oral or writen, are hereby incorporated Ino this ‘agreement 1M Aan Vashouslar Chet Executive Otioor Name MILBANK REAL ESTATE SERVICES, ING, Cen: Uni Number 2100 12194670994 727 West th Street, Los Angeles, Caloris 90017 won