General Terms And Conditions Of Renew Real Estate B.V.

Article 1 – Definitions

The capitalized definitions below have the following meaning within the context of these general terms and conditions:

1. Assignment/Agreement: the agreement for services whereby the Contractor undertakes to perform specific tasks for the Principal.
2. Principal: the natural person or legal entity who has given the Contractor the Assignment to carry out the Services.
3. Contractor: RENEW Real Estate B.V., or an affiliated company that has accepted the Assignment. Articles 7:404, 7:407 paragraph 2, and 7:409 of the Dutch Civil Code (BW) are explicitly excluded.
4. Services: all activities and operations to be performed by the Contractor on behalf of the Principal, as well as all activities and operations arising from it for the Contractor. The Services involve acting as an intermediary, for a fee, to facilitate a purchase agreement concerning real estate between the Principal, or its affiliated company(ies), and one or more parties. The Contractor will carry out this assignment without assuming any obligation to achieve a specific result.

Article 2 – Applicability

1. These general terms and conditions apply to all offers, quotations, Assignments, legal relationships, Agreements, by whatever name, whereby the Contractor undertakes or will undertake (mediation) services for the Principal, as well as to all resulting activities for the Contractor.
2. Unless expressly and in writing agreed upon in, for example, a (written) Agreement or (further) order confirmation, these terms and conditions shall apply as long as they are not otherwise indicated in the written offer (via email) from RENEW. Deviations from and additions to the Assignment and/or these general terms and conditions are only valid if expressly and in writing agreed upon.
3. These general terms and conditions also apply to any additional or follow-up assignments.
4. The applicability of the Principal’s general terms and conditions is explicitly rejected by the Contractor.

Article 3 – Nature of the agreement

1. The Agreement between the Principal and the Contractor shall be deemed accepted if the Agreement is explicitly accepted, or if the Principal instructs the Contractor to carry out the Services.
2. The Principal and Contractor do not intend for the Contractor to be or become authorized by the Principal to perform legal acts in its name or to act on behalf of the Principal, or its affiliated company(ies), unless otherwise agreed upon in writing.
3. The Contractor is not a party to the purchase agreement to be concluded between the Principal, or its affiliated company(ies), and one or more third parties.

Article 4 – Duration of the agreement

1. This agreement is concluded for an indefinite period and shall terminate automatically if the Principal, or its affiliated company(ies), conclude a purchase agreement for the respective real estate or declare in writing and unambiguously that they will not conclude a purchase agreement regarding the real estate presented by the Contractor.
2. The Contractor has the right to terminate this agreement with immediate effect at any time.

Article 5 – Compensation

1. If the Services of the Contractor result in a purchase agreement for the respective real estate between the Principal, or its affiliated company(ies), and one or more third parties, the Principal is obligated to pay the Contractor a fee. “The fee is equal to 1.5 percent of the total sales price of the property, plus VAT. This is only different if it follows from the written offer (by e-mail or otherwise) from RENEW, or if the parties have agreed otherwise in writing.”
2. The fee is deemed a reasonable compensation for the Services performed by the Contractor for the Principal, or its affiliated company(ies), under this Agreement.
3. If the Agreement – for whatever reason – ends, the Principal, or one or more of its affiliated companies, shall owe the fee mentioned in this Article 5 to the Contractor for up to 18 months after the termination of this agreement if the Principal, or one or more of its affiliated companies, acquires the real estate during that period.
4. If the Principal, or one of its affiliated companies, does not acquire the object of the agreement, the Contractor is entitled to a fee to be reasonably determined within the meaning of Articles 7:411 and 7:426 of the Dutch Civil Code.
5. Payment of the fee mentioned in this Article 5 shall be made no later than 30 days after the conclusion of the purchase agreement by transferring it to the Contractor’s bank account.

Article 6 – Information, data, and documents

1. The Principal, or its affiliated company(ies), shall proactively provide the Contractor with all information, data, and documents necessary for the execution of the assignment, and the Principal is responsible for their accuracy. The Principal, or its affiliated company(ies), undertakes to provide all necessary information upon the first request by the Contractor, demonstrating (whether or not) that a purchase agreement has been concluded as a result of the Contractor’s services.

Article 7 – Liability

1. The Principal and its affiliated company(ies) indemnify the Contractor completely against claims for damages related to or resulting from the actions or omissions of the Contractor in carrying out the services for the Principal or third parties.
2. Except for mandatory legal provisions and the principles of reasonableness and fairness, the Contractor is not liable for damages resulting from the execution of this mediation agreement.
3. In any case, the liability of the Contractor is limited to an amount equal to 2.5% (two and a half percent) of the fee excluding VAT owed by the Principal to the Contractor.

Article 8 – Applicable law and competent court

1. Dutch law applies to this agreement.
2. Disputes arising from this agreement or related to or resulting from it will be settled by the court in Amsterdam.