General Terms and Conditions

1. The brokerage contract with Sotheby's International Realty or with any of our agents comes into force subject to the terms and conditions stipulated in our property brochures, exposÚs or any other documents either upon entering into a contract in writing or in the absence of the same upon the utilisation of our brokerage services. We are authorised to subcontract when this appears to be necessary to safeguard the client's interests.

2. We provide our introduction and brokerage services on the basis of the information given to us by a principal or other persons authorised to supply such information. We are not liable for the correctness and/or completeness of such information. All services are provided subject to errors, prior sale and prior lease.

3. Documents, letters, floor plans, photographs, property brochures etc, which were distributed in connection with our introduction or brokerage services are only intended for the addressee and are to be treated as strictly confidential. On disclosure to third parties without our prior permission in writing, the recipient of our introduction or brokerage services is obligated to pay the customary or stipulated commission regardless of the fact that the third party concluding a transaction may not have signed a brokerage contract with us. Further, our right to assert additional claims for damages will remain unaffected.

4. We are entitled to also act on behalf of the other contractual party on a commission basis, provided that this does not result in a conflict of interests. This is also applicable in the event that we were mandated on an exclusive basis by any of the contractual parties.

5. Our claim for commission will not be affected if instead of the originally intended transaction another transaction is completed (e.g. purchase instead of lease or vice versa), provided, however, that the economic success does not substantially deviate from our offer. In case of rental, a unilateral option to extend the term of a lease is considered part of the term of the lease and therefore liable to commission.

6. We are also entitled to commission if a property introduced by us is subsequently purchased at a public foreclosure sale. No sales contract between the recipient and the owner of the property on offer is required. The commission has been earned when the conveyance of title has been effected in accordance with public law provisions.

7. We are not liable for the creditworthiness of the brokered party.

8. The commission has been earned and is due in full upon execution of the contract in due form or upon conclusion of a transaction of equal value that is related to the brokerage services provided by us. Our contractual partner is obliged to inform us in due course of the Terms of Purchase or the Terms of Use as the case may be. Unless otherwise agreed on an individual basis, our rates of commission are, :
- for real estate sales 5,95 % of the purchase price as recorded in the notarial deed
- for lease of private property 2,38 rental payments excluding auxiliary charges.
in each case including statutory VAT.

9. The right to retain or offset commission is excluded unless the claim forming the basis for such retention or offset is undisputed or a competent court issued a final judgement. . Our contractual partners are not authorised to assign claims of any kind against us to a third party.

10. In case that the property introduced by us is already known to the recipient of our broker services the recipient is requested to inform us accordingly in due course, i.e. no later than within three days of receipt of our introduction or exposÚ, including proof of the same. Should the client fail to do so, we are entitled to reimbursement of all expenses and costs incurred by us and resulting from the fact that the client failed to inform us about the existing previous knowledge.

11. To the extent permissible by law, place of delivery and venue is Wiesbaden. These Terms and Conditions shall be governed by and construed in accordance with German law.

12. Should one or more of the provisions contained herein be or become invalid, the remaining provisions are unaffected thereby. Such invalid provision is to be replaced by a clause which comes closest to the commercial interests of the contractual parties and which does not contravene the remainder of the Agreement..

Date November 2009

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