This Confidentiality Agreement between
Restaurant Realty Associates ("RRA"), and the Undersigned
("Interested Party") agrees that The Undersigned is hereby
receiving confidential information ("Listings") on available
businesses and/or properties. The Undersigned hereby agrees to the following
terms and conditions: 1. The undersigned
hereby represents that it is acting on behalf of itself as a principal. The
undersigned understands that although "RRA" will utilize its best
efforts in assisting him/her, the Seller(s) has engaged the services of
Restaurant Realty Associates and "RRA" has a fiduciary relationship
with the seller only. 2. All information,
oral or written, are the Seller's confidential and proprietary information and
shall not be disclosed to any party and shall be maintained and kept strictly
confidential. The "Interested Party" is not permitted to speak with
any employee of a listed property or business unless authorized by the Seller. 3. It is agreed and
committed that the fact a listing is for sale shall not be discussed with any
other party or disclosed to any municipal, county or state governmental official
or Agency. The undersigned hereby assumes full responsibility for himself or any
associate to the compliance of the terms of this agreement. 4. All information
received by the "Interested Party" shall remain the property of the
Seller and will immediately be returned upon request by the Seller or any of his
representatives.
No copies or reproductions of any type are permitted unless permission is
granted in writing by
the Seller. 5. All communications
and further inquiries shall only be through "RRA" regarding any and
all listings that have been or may be introduced to the undersigned. Any attempt
to breach this mutual understanding or to circumvent an "RRA"
agreement with the seller shall be actionable at law for interference with said
agreement. The undersigned prospective purchaser or associates hereby agrees not
to purchase any business or properties introduced to them by “RRA” within
eighteen months of the date herein unless RRA receives the commission from the
seller. Should undersigned or associates purchase through any agent, company,
corporation or any other person representing them, without the written consent
of “RRA”, then they, the undersigned shall be liable for and does hereby
guarantee payment of a commission equal to ten percent (10%) of the selling
price, payable to Restaurant Realty Associates. 6. All
representations and warranties shall be made solely by an Agreement of Sale,
prepared by an attorney and agreed to by both Buyer and Seller. 7. Any due diligence
shall be performed by the "Interested Party", at its own cost and
expense prior to any acquisition, and to the extent the undersigned deems
necessary. 8. This agreement
shall be governed by the substantive laws of the State of New Jersey. The
Undersigned hereby acknowledges receipt of an executed copy of this agreement
and further agrees that it shall be binding upon all heirs, administrators,
successors and assigns. 10. It is understood and acknowledged by the "Interested Party" that receipt of information regarding the Business and/or Property referred to herein is based upon the conditions of this Confidentiality Agreement and adherence to its terms and conditions.
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