Section 5. Broker Relationship

Broker shall have the following duties to all parties in a transaction, which are mandatory and may not be abrogated or waived by Broker:
1. Treat all parties with honesty and exercise reasonable skill and care;
2. Unless specifically waived in writing by a party to the transaction:
  1. receive all written offers and counteroffers;
  2. reduce offers or counteroffers to a written form upon request of any party to a transaction, and
  3. present timely such written offers and counteroffers;
3. Timely account for all money and property received by Broker;
4. Keep confidential information received from a party or prospective party confidential. The confidential information shall not be disclosed by a firm without the consent of the party disclosing the information unless consent to the disclosure is granted in writing by the party or prospective party disclosing the information, the disclosure is required by law, or the information is made public or becomes public as the result of actions from a source other than the firm. The following information shall be considered confidential and shall be the only information considered confidential in a transaction:
  1. that a party or prospective party is willing to pay more or accept less than what is being offered;
  2. that a party or prospective party is willing to agree to financing terms that are different from those offered;
  3. the motivating factors of the party or prospective party purchasing, selling, leasing, optioning, or exchanging the property; and
  4. information specifically designated as confidential by a party unless such information is public.
5. Disclose information pertaining to the property as required by the Residential Property Condition Disclosure Act; and
6. Comply with all requirements of The Oklahoma Real Estate License Code and all applicable statutes and rules.
Broker shall have the following duties and responsibilities only to a party for whom the broker is providing brokerage services in a transaction which are mandatory and may not be abrogated or waived by Broker:
1. Inform the party in writing when an offer is made that the party will be expected to pay certain costs, brokerage service costs and approximate amount of costs; and
2. Keep the party informed regarding the transaction.
When working with both parties to a transaction, the duties and responsibilities set forth in this section shall remain in place for both parties.

Specific Directions. Owner and Broker agree that the specific directions provided for in the Broker Relationship Act shall be in writing, and Owner shall pay any costs Broker incurs in complying with such instructions.

Section 6. Applicant(s) Acknolwedgement/Agreement and Authorization

Applicant(s) represents that all of the above statements are true and complete and authorizes verification of all of the above information by all means available, including employment, personal references, credit records, public records, current and previous property owners and criminal records by the Owner and/or Owner's Broker. Applicant(s) authorizes all parties from whom such information is requested to release the information without giving me prior notice of such. I hereby release and agree to hold harmless the Owner, Owner's Broker and all parties requesting or releasing such information from any and all claims, demands or liabilities arising out of or related to the investigation and release of such information.

Applicant(s) acknowledges that false information may constitute a breach of the lease entitling the Owner, at the Owner's option, to terminate the Lease and demand you vacant the Property. Further, Applicant(s) expressly authorizes Owner and/or Owner's Broker (including a collection agency) to obtain Applicant(s) consumer credit report, which Owner and/or Owner's Broker may use if attempting to collect past due rent payments, late fees, or other charges from Applicant(s) both during the term of the Lease and thereafter.

Applicant(s) also understands and agrees that this application will be retained by Owner and/or Owner's Broker whether or not approved. Applicant(s) understands and agrees that, in the future upon request, the Owner and/or Owner's Broker will release information concerning the Owner's experience with Applicant(s) as an Applicant/Tenant(s).

Applicant(s) understands and agrees that this Lease Application will not be processed without the "Processing Fee" set out in Section 1. Applicant(s) further agrees and understands that this Processing Fee will NOT BE REFUNDED regardless of whether Owner accepts this Lease Application for lease of the Property and the Reserve Property Fee shall NOT BE REFUNDED if the Lease Application is approved and Applicant(s) fails to sign a Lease and take possession of the Property.

I have read and understand the Section 5 Broker Relationship.

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