Sample Conditional Release Form

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WHEREAS, the undersigned Owner and London Properties Ltd., (hereinafter"Broker” have
heretofore executed a listing agreement (hereinafter “Listing") dated
_______________________________________________ 20_____, for the listing of Owner’s
property described as ________________________________________________ (the “Property”)
and; WHEREAS, Owner is desirous of terminating the Listing and withdrawing the Property
from the market prior to the expiration of said Listing, and Broker is willing to allow the early
termination of the Listing under the terms and conditions provided herein. NOW THEREFORE,
Broker and Owner hereby agree as follows:
1. Except as otherwise provided herein, upon execution of this agreement (the “Agreement”), all
rights and obligations arising from or on account of the Listing above are hereby terminated and
Broker and Owner do hereby mutually release each other from all obligations under the Listing
and from all claims, actions and demands that each may have against the other arising from or as
a result of the Listing. However, Broker and Owner agree that the attorney fees provisions of the
Listing shall remain applicable to any dispute arising out of the Listing, this Agreement or any
obligation of Owner under either the Listing or this Agreement.
2. Should Owner desire to offer the Property, or any portion thereof, for sale, exchange or lease
within 360 days from the date of this termination, Owner shall contact Broker and enter into a
new listing agreement upon the same terms and conditions as the Listing hereby terminated. Such
new listing is to be effective for a period of time equal to the original period provided for in the
3. In the event that the Property, or any portion thereof, is for any reason sold, exchanged,
transferred or leased by Owner, Broker or any other broker to any party (including, but not
limited to, any party to whom the property was introduced by Broker) within 360 days from
the date hereof, Owner shall pay Broker the same compensation as was provided in the Listing
terminated hereby, (the same as if such Listing were still in effect), whether or not said Listing
would otherwise have terminated in accordance with its terms. In the event of such a transaction,
unless Owner has executed a new listing with Broker, Broker shall have no obligation to
represent Owner in such transaction.
4. All commission or other compensation provided for herein is payable on the close of escrow
for the Property, or any portion thereof, or, if completion of any transaction is prevented by
default of Owner, on Owner’s default.
5. In the event Owner does, within 360 days from the date of this Agreement, enter into any
listing agreement with any other broker, Owner shall notify such other real estate broker of the
compensation obligations in this Agreement. Owner hereby agrees that any compensation paid to
such broker shall be in addition to any compensation payable to Broker as herein provided.


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