By accepting these terms, you understand and agree that the information described herein is strictly confidential and is not to be made available, shared, divulged or otherwise discussed, with any other prospective party or individual without prior written consent of Timm & Associates, Inc., or Owner/Seller(s). You agree to take all necessary steps to assure that such information about the Property, or any of its employees, officers, agents, clients, attorneys, accountants, or other representatives, shall remain confidential and shall not be disclosed or revealed to any outside sources, or used in any manor inconsistent with this Confidentiality Agreement without prior express written consent of the Owner/Seller(s). You agree that any release of confidential information constitutes a breach of duty owed the Owner/Seller(s). You agree on behalf of yourself, your affiliated companies or businesses and their respective directors, officers, employees, and each of them, that in the event there is a breach of this Agreement, the Owner/Seller(s) shall be entitled to an immediate injunction against further breach in addition to all other rights and remedies available for such breach under applicable law.
Timm & Associates, Inc. has compiled the information in the Statements from a variety of sources deemed to be reliable, including Owner/Seller(s), consultant and other resources. The Statements have not been verified by our firm. In addition to the foregoing, you acknowledge and agree that Timm & Associates, Inc. and the Owner/Seller(s) do not warrant or represent the accuracy or completeness of the information contained within the Statements or subsequent materials that may be requested or supplied by our firm or the Owner/Seller(s). Furthermore, the Statements are subject to modification, updates, errors and omissions and may or may not represent changes in condition of the property or its operation. If, after reviewing this information, you no longer have interest in the Property, please notify Timm & Associates. Any and all representation shall be made solely by the Owner/Seller(s), only at such time as they are set forth in a signed acquisition or purchase agreement and then subject to the provisions thereof.
If the Statements contain any financial projections regarding future performance such projections are made for reference purposes only and should not be construed as a representation or warranty of future performance. All financial projections and assumptions were based on information available at the time of publication and should not be considered a recommendation, endorsement or advice as to the value or profitability of the property. Each prospective buyer is to rely solely on their due diligence, property evaluations, third party investigations and investment criteria.
You acknowledge and agree that Timm & Associates, Inc. is an agent of the Owner/Seller(s) and solely represents their interests in the sale of the Property. If you have retained a broker or plan to do so in the course of this transaction, you acknowledge and agree that such retention shall be at your sole cost and expense.
You also agree not to disclose any information regarding the potential sale to any Property Employee. You shall not directly contact the Owner, the Property, its manager or management company or the franchise licensor. You shall not visit the property without the Owner’s consent. You will not contact the property or rent a room at the property without the Owner’s consent. All site visits must be arranged through Timm & Associates, Inc.
This Confidentiality Agreement is valid, legal and binding and is governed by the laws of the State in which the subject property(ies) of this Confidentiality Agreement are situated in, notwithstanding any conflicting law provisions of various states that may otherwise govern.
Timm & Associates, Inc., a real estate license holder, stipulate that we are representing the Seller in this transaction.
Disclosure to Non-Residential Customers -
Prior to negotiating on your behalf the brokerage firm, or agent associates with the firm, must provide you the following disclosure statement:
DISCLOSURE TO CUSTOMERS:
You are a customer of the brokerage firm (hereinafter Firm). The Firm is either an agent of another party in the transaction or a subagent of another firm that is the agent of another party in the transaction. A broker or a salesperson acting on behalf of the Firm may provide brokerage services to you. Whenever the Firm is providing brokerage services to you, the Firm and its brokers and salespersons (hereinafter Agents) owe you, the customer, the following duties: (a) The duty to provide brokerage services to you fairly and honestly. (b) The duty to exercise reasonable skill and care in providing brokerage services to you. (c) The duty to provide you with accurate information about market conditions within a reasonable time if you request it, unless disclosure of the information is prohibited by law. (d) The duty to disclose to you in writing certain Material Adverse Facts about a property, unless disclosure of the information is prohibited by law. (e) The duty to protect your confidentiality. Unless the law requires it, the Firm and its Agents will not disclose your confidential information or the confidential information of other parties. (f) The duty to safeguard trust funds and other property held by the Firm or its Agents. (g) The duty, when negotiating, to present contract proposals in an objective and unbiased manner and disclose the 18 advantages and disadvantages of the proposals. Please review this information carefully. An Agent of the Firm can answer your questions about brokerage services, but if you need legal advice, tax advice, or a professional home inspection, contact an attorney, tax advisor, or home inspector. This disclosure is required by section 452.135 of the Wisconsin statutes and is for information only. It is a plain-language summary of the duties owed to a customer under section 452.133(1) of the Wisconsin statutes.
CONFIDENTIALITY NOTICE TO CUSTOMERS:
The Firm and its Agents will keep confidential any information given to the Firm or its Agents in confidence, or any information obtained by the Firm and its Agents that a reasonable person would want to be kept confidential, unless the information must be disclosed by law or you authorize the Firm to disclose particular information. The Firm and its Agents shall continue to keep the information confidential after the Firm is no longer providing brokerage services to you. The following information is required to be disclosed by law: 29 1. Material Adverse Facts, as defined in Wis. Stat. § 452.01(5g). 30 2. Any facts known by the Firm or its Agents that contradict any information included in a written inspection report on the property or real estate that is the subject of the transaction. To ensure that the Firm and its Agents are aware of what specific information you consider confidential, you may list that information below or provide that information to the Firm or its Agents by other means. At a later time, you may also provide the Firm or its Agents with other Information you consider to be confidential.
DEFINITION OF MATERIAL ADVERSE FACTS:
A "Material Adverse Fact" is defined in Wis. Stat. § 452.01(5g) as an Adverse Fact that a party indicates is of such significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable party, that it affects or would affect the party's decision to enter into a contract or agreement concerning a transaction or affects or would affect the party's decision about the terms of such a contract or agreement. An "Adverse Fact" is defined in Wis. Stat. § 452.01(1e) as a condition or occurrence that a competent licensee generally recognizes will significantly and adversely affect the value of the property, significantly reduce the structural integrity of improvements to real estate, or present a significant health risk to occupants of the property; or information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations under a contract or agreement concerning the transaction.
NOTICE ABOUT SEX OFFENDER REGISTRY:
You may obtain information about the sex offender registry and persons registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at http://www.doc.wi.gov or by telephone at 608-240-5830.
Timm & Associates, Inc. proposes to furnish confidential information to the below listed buyer including any of its associates, affiliates, designees, successors, heirs, or assigns (referred to as “buyer”, “you”, and “your”) regarding the below named property (“Property”). Upon submission of your acceptance of these terms as indicated, the property information will be forwarded for your review.