PROXY BIDDER AGREEMENT
This Proxy Bidder Agreement (this "Agreement") is entered into and is effective as of the Effective Date between ____________________________________ ("Bidder") and CREXi (CREXi).
(A) Bidder Name:
(B) Effective Date:
(C) Property Address:
(D) Auction Date:
(E) Bid Type
1) Verbal bid instruction via Telephone
2) Maximum Bid $__________________ (This Amount is exclusive of the Platform Fee)
INSTRUCTIONS TO BID
Bidder hereby irrevocably appoints and instructs CREXi to act on Bidder’s behalf for the sole purpose of placing bids (each, a “Bid”) for the Property at the Auction in accordance with this Agreement. CREXi has the right to cancel this Agreement at any time.
If “Verbal bid instruction” is selected above, Bidder shall be available during the Auction to give bid instructions to a CREXi representative via telephone. CREXi is hereby authorized to place Bids for the Property on Bidder’s behalf in accordance with such instructions and agrees to be bound by any such Bid CREXi places in accordance with Bidder’s instructions. If “Maximum Bid” is selected above, Bidder authorizes CREXi to place Bids for the Property on Bidder’s behalf (in each case in the next applicable bid increment above the highest bid placed by another bidder), up to the Maximum Bid.
BIDDER ACCEPTS AND AGREES
Bidder accepts and agrees that CREXi will endeavor to enter Bids on Bidder’s behalf in accordance with this Agreement as a convenience for Bidder and that CREXi shall not be responsible for failing to enter Bids or for errors relating to the entry of Bids, including but not limited to, any computer, connectivity, network or other technology related errors. Bidder (a) acknowledges that any Bid submitted on behalf of Bidder is made on the express condition that Bidder will not have any claims of any kind against CREXi or any of it agents, representatives and employees, and (b) hereby deliberately waives any such claims.
IN WITNESS WHEREOF. The parties duly authorized this Agreement to be executed effective as of the
COMMERCIAL REAL ESTATE EXCHANGE, INC.