In consideration of the services of Hursh & Assoc., Realtors, hereinafter termed 'broker' to sell, trade, exchange, lease and/or obtain option to purchase the following real property, commonly known as vacant lot - when house built, address would be _____ Eagle Ave., Valdez, Alaska

Broker is hereby appointed exclusive agent with the exclusive right against all others, including seller, to accept deposits and to present offers upon such real property according to the terms hereof, or any written modification which seller may hereafter submit or accept, in writing, for a period beginning 

May 15, 2006 and continuing until midnight of  May 15, 2007

The real property which is the subject of this contract is situated in Valdez, Alaska and is legally described as follows:

Lot 9, Block 11 Robe River Subdivision

The gross selling price for such property shall be

Twenty Five Thousand Dollars    $25,000    

and upon the following terms:  All Cash to seller, or any terms acceptable to seller.

Seller further agrees that in the event a purchaser is procured by broker, seller, or by means of any other source, which purchaser is ready, willing and able to purchase upon such terms as herein agreed, or subsequently modified in writing, and a sale is effected, seller agrees to deliver to such purchaser a good and sufficient Deed and a policy of title insurance showing marketable title.  Seller agrees to pay broker a brokerage fee of    $950    regardless of sales price.  (If another company finds a buyer, there shall be an add on fee of + $500 for their fee. This fee has been negotiated between the parties.  The brokerage fee shall be due, owing and paid to broker at time of closing and/or recording of the transaction.   Taxes shall be pro-rated as of such date.  In the event of trade or exchange, seller agrees that broker may represent and accept compensation from the other party to this transaction, as well as from seller.

Seller further agrees that such agreed brokerage fee shall be paid to broker in the event such property is sold, leased, conveyed, or in any manner otherwise transferred during a   90    day protection period after the expiration date of this instant contract, or any written extension hereof, to any party with whom broker, its agents, or any members of another brokerage company have in any manner introduced for purchase of the real property hereinabove described, prior to final termination.  Seller shall not be obligated to pay such brokerage fee in the event a valid listing contract is entered into during the term of the protection period.

It is further understood and agreed between the parties that, during the term of this contract, that an offer to purchase the property hereinabove described may fail to close.  In such event, the parties hereto agree that this contract, or any written extension hereof, shall be in full force and effect through and until:  (a) expiration of this contract; and/or (b) any written extension thereof; and/or (c) such time that any earnest money is forfeited or refunded; and/or (d) any Real Estate Purchase and Sale Agreement, and/or Earnest Money Agreement has expired; and/or (e) Protection Period of this contract has expired.

All information in this contract is believed by both parties hereto to be complete and correct.  It is understood and agreed, however, that the broker is not in a position to verify all items of information herein, and therefore, broker shall not be liable for errors or omissions in the information in this contract.

 Property Disclosure form not required on unimproved property.

Seller agrees to permit Agent, owner of adjacent property - permission to cut brush along road &/or any low branches on trees near road.

WARNING:  Neither seller, listing agent, nor listing broker make any representation concerning suitability of the described property for an intended use nor to the applicability or non-applicability of any county, state or other governmental regulation regarding zoning, platting, subdivision or health department regulations.

It is further agreed and understood that neither buyer nor seller rely upon agent's estimate of acreage or square footage contained in this parcel of the location of boundary lines due to lack of current survey.  However, seller is considering having a survey of parcel done by local surveyor.

In consideration of execution of this contract, and the mutual promises herein contained, broker agrees to use due diligence in effecting a sale of the above-described real property.  Seller authorizes broker to erect appropriate "for Sale" signs; to advertise the property in newspapers, TV scanner &/or on the internet thru web pages.

The undersigned seller warrants that he is owner of  record of the real property hereinabove described, or such signatory has the authority to so authorize.  Getting a preliminary title report in the amount of $250 may also be a good idea to expedite a sale, but is not required to be done until just before closing.

This is a legally binding contract.  By signing this contract seller has acknowledged that he has read the same, agrees to its terms and fully understands its contents.  Agent represents seller, unless otherwise agreed upon.

A copy is hereby acknowledged by seller.