Page 15 - Management

Addendum For Managed Sales/Managed Lets & Second

Home Management Services

ADDENDUM FOR MANAGED SALES / MANAGED LETS & SECOND HOME MANAGEMENT SERVICES
1. INTERPRETATION

1.1 This Addendum should be read in conjunction with the Standard Terms of Business.

1.2 Capitalised terms that are not defined in this Addendum shall have the meaning given to them
in the Standard Terms of Business.

1.3 In the event, any of the terms of this Addendum conflict with the Standard Terms of Business,
the provisions in this Addendum shall prevail.

2. APPOINTMENT OF ESTATE AGENT

2.1 Lake & Co shall introduce the Client to an Estate Agent or Agents, which in Lake & Co’s sole
opinion is a suitable Estate Agent (s) to market the Property.

2.2 The Client shall enter into an agreement with the Estate Agent directly, or shall enter into
the assignment at Annex 1 to this Addendum appointing Lake & Co as its representative
during the [sales/letting/property management] process and authorising Lake & Co to appoint
the Estate Agent on its behalf.

2.3 For the avoidance of doubt, the Client shall be solely responsible for all fees of the Estate
Agent.

2.4 If a buyer is introduced directly without an Estate Agent, then Lake & Co reserves the right
to charge the Client 2% of the purchase price paid by the ultimate buyer or the market rate
of commission charged by Estate Agents in a similar location and value to the address of the
property sold, whichever is the greater, for the successful introduction.

2.5 If a Tenant is introduced directly without an Estate Agent, then Lake & Co
reserve the right to charge 10% of the annual rent or market rate of commission
charged by Estate Agents in a similar location and value to the address of the
property sold, whichever is the greater, for the successful introduction.

2.6 Lake & Co may offer certain services (including but not limited to referrals our network of
independent Financial Services professionals for mortgage and insurance products) to
prospective purchasers of the Property that assist in the acquisition of a property. Lake &
Co may receive from the prospective purchasers and any third party Financial Service
professional a commission which it is entitled to retain in addition to any fees payable by
the Seller in relation to the Property.