AUTHORIZATION: I HEREBY GIVE PERMISSION FOR THE INDIVIDUALS AND BUSINESS LISTED ABOVE AS REFERENCES TO PROVIDE FINANCIAL, CREDIT, AND CRIMINAL BACKGROUND INFORMATION TO MY PROSPECTIVE LESSOR, HIS MANAGER AND/OR HIS BROKER. I ALSO HEREBY AUTHORIZE THE OWNER AND HIS/HERREPRESENTATIVES TO PERFORM A CREDIT CHECK ON MYSELF AND/OR MY COMPANY. THE REPRESENTATIONS OF FACT CONTAINED IN THIS APPLICATION ARE CONSIDERED PART OF THE LEASE AND ARE TRUE AND CORRECT. IF ANY INFORMATION HEREIN CONTAINED IS DISCOVERED TO BE FALSE OR MISLEADING IT CAN BE PROSECUTED AS AN ACT OF FRAUD. ADDITIONALLY, IF DISCOVERED TO BE FALSE OF MISLEADING, THE LEASE MADE ON THE STRENGTH OF THIS APPLICATION MAY, AT THE OPTION OF THE LESSOR, BE TERMINATED AT ANY TIME. THE LESSOR IS HEREBY GRANTED PERMISSION TO VERIFY ALL CREDIT/PERSONAL INFORMATION AND TO OBTAIN ANY CREDIT REPORTS IT DEEMS NECESSARY.RENTERS INSURANCE.
Most commercial leases require commercial renter’s insurance. We refer all of our tenants to State Farm Insurance, and their agent pays us a referral fee. You are welcome to use whatever commercial renter’s insurance company you like.
Disclosures Regarding Real Estate Agency Relationship.
Unless you are being represented by a buyer/lessee agent, Quixotic Realty Inc and its affiliates will be representing both you and the seller/landlord for this deal.
(a) When entering into a discussion with a real estate agent regarding a real estate transaction, a Lessor or Lessee should from the outset understand what type of agency relationship or representation it has with the agent or agents in the transaction. Lessor and Lessee acknowledge being advised by the Brokers in this transaction, as follows:
(i) Lessor & Agent. A Lessor & agent under a listing agreement with the Lessor acts as the agent for the Lessor only. A Lessor & agent or subagent has the following affirmative obligations:
To the Lessor: A fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with the Lessor.
To the Lessee and the Lessor: (a) Diligent exercise of reasonable skills and care in performance of the agent & duties. (b) A duty of honest and fair dealing and good faith. (c) A duty to disclose all facts known to the agent materially affecting the value or desirability of the property that are not known to, or within the diligent attention and observation of, the Parties. An agent is not obligated to reveal to either Party any confidential information obtained from the other Party which does not involve the affirmative duties set forth above. (ii) Lessee & Agent. An agent can agree to act as agent for the Lessee only. In these situations, the agent is not the Lessor & agent, even if by agreement the agent may receive compensation for services rendered, either in full or in part from the Lessor. An agent acting only for a Lessee has the following affirmative obligations.
To the Lessee: A fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with the Lessee. To the Lessee and the Lessor: (a) Diligent exercise of reasonable skills and care in performance of the agent & duties. (b) A duty of honest and fair dealing and good faith. (c) A duty to disclose all facts known to the agent materially affecting the value or desirability of the property that are not known to, or within the diligent attention and observation of, the Parties.An agent is not obligated to reveal to either Party any confidential information obtained from the other Party which does not involve the affirmative duties set forth above. (iii) Agent Representing Both Lessor and Lessee. If Lessee does not have an independent outside agent representing them, Quixotic Realty Inc shall represent both Lessee and Lessor. A real estate agent, either acting directly or through one or more associate licenses, can legally be the agent of both the Lessor and the Lessee in a transaction, but only with the knowledge and consent of both the Lessor and the Lessee. In a dual agency situation, the agent has the following affirmative obligations to both the Lessor and the Lessee: (a) A fiduciary duty of utmost care, integrity, honesty and loyalty in the dealings with either Lessor or the Lessee. (b) Other duties to the Lessor and the Lessee as stated above in subparagraphs (i) or (ii). In representing both Lessor and Lessee, the agent may not without the express permission of the respective Party, disclose to the other Party that the Lessor will accept rent in an amount less than that indicated in the listing or that the Lessee is willing to pay a higher rent than that offered. The above duties of the agent in a real estate transaction do not relieve a Lessor or Lessee from the responsibility to protect their own interests. Lessor and Lessee should carefully read all agreements to assure that they adequately express their understanding of thetransaction.
Broker Disclosures: Brokers/agents are not qualified to act, consult, make conclusions, and/or provide advice with respect to legal, tax, environmental, licensing, permits of any kind (including but not limited to Use Permits andzoning variances), building codes (including but not limited to architectural, occupancy, and fire code), compliance with Americans with Disability Act, earth-quake retrofitting, construction, soils-drainage, and/or any other related matters, so for these things broker has instructed you to refer to the appropriate expert of your choice prior to signing lease for your intended use of the space. Anything which has been or is being advertised, listed, orcommunicated verbally or in writing, including but not limited to the square feet of the subject property/space, has been independently accepted and confirmed by Lessee prior to signing lease, as instructed by Broker, and useof the space as advertised is understood as a potential use which may or may not be possible upon going through the due process of getting such matters approved by the city where the subject property/space is located. Lessee shall indemnify and hold Quixotic Realty Inc/broker/agent, its affiliates business entities, and Lessor harmless of any liabilities related to all matters mentioned herein.
453 S. Spring St
Los Angeles, CA 90013
Call/Text : (213) 304-4727
Email : info@realestateLA.com
Monday - Friday : 9 am - 5 pm By Appointment Only
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