If the Broker’s Buyer/Bidder opens the bidding in an amount at least equal to his/her registered opening bid and is ultimately the successful bidder, Broker will receive two percent of the amount of the Buyer/Bidder/s registered opening bid and one percent of the amount of the successful bid in excess of the registered opening bid.

If the Broker’s Buyer/Bidder registers a proposed opening bid that is not in fact the opening bid because it was too low, but the Buyer/Bidder is the successful buyer of the property, the Broker shall receive a commission of two percent of the unsuccessful proposed opening bid and one percent of the amount of the successful bid in excess of the registered opening bid

If the Broker’s Buyer/Bidder does not register a proposed opening bid or fails to present the registered opening bid, but the Buyer/Bidder is the successful buyer of the property, the Broker shall receive a commission of one percent of the successful bid.

In any event, the maximum Broker Participation Commission that will be paid to the Broker will not exceed two percent of the final bid price.

Complete this three-page registration form.

Sign the registration form and have the Buyer/Bidder sign the registration form.

Return the completed and signed registration form to Eddie Haynes, Inc., at least 48 hours prior to the time of the auction.

Obtain a written acknowledgement from Eddie Haynes, Inc., that the registration is accepted.

If a registration form is submitted without an opening bid, the Bidder/Buyer may submit an opening bid in writing at any time before the auction, but must have written proof of its receipt by Haynes.

If more than one Broker submits a registration form for the same Buyer/Bidder, only the first registration form received by Haynes will be honored.

The Broker cannot use this Broker Participation Agreement in conjunction with any other co-brokerage agreement or any agreement to share a commission from the auction with anyone.

Oral agreements and representations will not be honored, and no exceptions to the procedures outlined in this Broker Participation Agreement will be permitted unless Haynes or seller approves the exception in writing prior to the beginning of the auction.

Broker’s execution of this agreement and participation in the auction shall not be construed as creating an agency or employment relationship between Haynes and Broker.

The Broker must attend the sale and assist in the bidding process to the extent requested by Haynes.

Commissions due Broker will be due and payable immediately upon a successfully completed closing.

If the Seller is responsible for paying the commission due Broker, Broker agrees that it will look only to Seller for the payment of the commission and will hold Haynes harmless and indemnify Haynes for any and all claims made in regard to said commission.

By signing this Agreement, Broker acknowledges that he/she has read and understands all of the provisions of this Agreement and that he/she agrees to be bound by all of the terms and conditions of this Agreement. This Broker Participation Agreement consists of three pages and Broker acknowledges receipt of all three pages.