5801 & 5809 Patton St
Confidentiality Agreement
This Agreement must be signed and fully completed by all prospective buyers and their brokers prior to release of property information. If you prefer, you can print a copy of this Agreement here, complete it and send it via email to office@gainesorg.com.
In connection with the proposed sale ("Proposed Sale") of the property known as 5801 & 5809 Patton St, Corpus Christi, TX ("Property") The Gaines Organization, Inc. ("Listing Broker") on behalf of the Seller ("Seller") is delivering certain information which is confidential and/or proprietary in nature (collectively, "Evaluation Material") to the undersigned party (the "Accepting Party").
By completing this document and accepting the Evaluation Material, Accepting Party enters into this Confidentiality Agreement (the "Agreement") and Accepting Party agrees as follows:
Except for the sole purpose of evaluating the possible acquisition of the Property by Accepting Party (or if Accepting Party is a broker, by third parties, subject to the terms of this Agreement), Evaluation Material will not be used or duplicated for any other purpose, including, without limitation, for the purpose of contacting the Seller's tenants. Accepting Party shall keep all Evaluation Material strictly confidential; provided, however, that such Evaluation Material may be delivered to such persons or entities who because of their involvement with the Proposed Sale need to know such information for the purpose of giving advice with respect to, or consummating, the Proposed Sale (all of whom are collectively referred to as "Related Parties"). Related Parties shall be informed by Accepting Party of the confidential nature of such information and shall be directed by Accepting Party (and Accepting Party shall cause such Related Parties) to keep all such information in the strictest confidence and to use such information only in connection with the Proposed Sale and in accordance with the terms of this Agreement. If Accepting Party (or if Accepting Party is a broker, the party being represented by such broker) does not purchase the Property, or upon request of Seller, Accepting Party will promptly deliver to Seller all Evaluation Material furnished, whether furnished before or after the date of this Agreement, without retaining copies thereof.
If Accepting Party is a broker, Accepting Party agrees not to divulge any confidential information or release any Evaluation Material to prospective purchasers unless and until such prospective purchasers complete a duplicate of this Agreement, agreeing to all terms and conditions set forth herein, and such signed Agreement is delivered to Listing Broker.
Accepting Party shall not (i) disclose the fact that discussions or negotiations are taking place concerning the possible acquisition of the Property or any terms thereof, or (ii) conduct any discussions, negotiations or make any inquiries concerning the possible acquisition of the Property with any other person or entity except for Seller and Listing Broker, except as may be permitted by the preceding paragraphs, or except as may be required by law.
In the event that Accepting Party or a Related Party becomes legally compelled to disclose all or any part of the Evaluation Material, Accepting Party will provide Seller with prompt written notice so that Seller may seek a protective order or other appropriate remedy and/or waiver compliance with the provisions of this Agreement. In the event that such protective order or other remedy is not obtained, or that Seller waives compliance with the provisions of this Agreement, Accepting Party will furnish only that portion of the Evaluation Material which is legally required and will exercise best efforts to obtain reliable assurance that confidential treatment will be accorded the Evaluation Material.
Accepting Party acknowledges that remedies at law may be inadequate to protect against breach of this Agreement, and Accepting Party hereby agrees in advance to the granting of injunctive relief in Seller's favor without proof of actual damages, in addition to any other remedies available at law or in equity. Accepting Party shall reimburse Seller for all costs and expenses, including reasonable attorney's fees incurred by Seller in successfully enforcing Accepting Party's obligations under this Agreement.
Seller makes no representations or warranties as to the accuracy or completeness of the Evaluation Material or that actual results will conform to any projections. Seller expressly disclaims any and all liability for representations or warranties, express or implied, contained in the Evaluation Material, or in any other written or oral communications transmitted or made available to Accepting Party by Seller.
Seller is under no legal obligation of any kind whatsoever with respect to the Proposed Sale by virtue of this Agreement, except for the matters specifically agreed to herein.
This Agreement shall be governed by and construed in accordance with the laws of the State in which the Property is located which is applicable to contracts made and to be performed wholly within such State.
If Accepting Party plans to be represented by a real estate broker for buyer representation (the "Buyer's Broker"), such Buyer's Broker shall be registered into this Agreement on Accepting Party's initial completion of this Agreement. If Buyer's Broker is not registered upon initial completion of this Agreement, Buyer's Broker shall not be eligible to participate in any fee that may be paid out by Seller in the event of a successful closing of a Proposed Sale.
