Exhibit K. Lease - Broker Project (1).pdf
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- Attached to
- General Services Administration (GSA) Seeks to lease the following space: Solicitation No. 4LA0288
- Solicitation number
- 4LA0288
About this file
This is a GSA Template L100 Broker Project Exhibit K, which governs the treatment of real estate broker commissions in federal lease transactions where GSA has engaged a broker to facilitate the lease award.
The exhibit establishes three key provisions regarding broker compensation. First, it defines "Broker" as GSA's contracted real estate broker and "Commission Credit" as the forfeited portion of commission that reduces lease payments. Second, it specifies that PUBLIC PROPERTIES serves as the authorized broker, with the total commission split between the broker's direct payment and a commission credit applied to shell rental payments. The commission credit must be recaptured through equal monthly reductions in shell rent beginning with the first rental payment month and continuing until fully recovered in the shortest practicable timeframe, with specific monthly rent adjustments detailed in a schedule subject to modification based on rent adjustments outlined elsewhere in the lease. Third, the lessor must pay the broker's portion of commission—calculated as the agreed-upon commission amount minus the commission credit specified in the lease or any amendments—according to a separate Commission Agreement between the lessor and broker. All provisions are effective February 2026.
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Text version
LEASE NO. LLA01888, PAGE 1 LESSOR: ________ GOVERNMENT: ________ GSA TEMPLATE L100, BROKER
PROJECT EXHIBIT K (5/26)
EXHIBIT K BROKER PROJECT
BP 1.01 DEFINITIONS: BROKER PROJECT ATTACHMENT (FEB 2026)
A. Definitions. The following definitions apply to the use of the terms in this attachment:
1. “Broker” means GSA’s broker, if GSA awarded this lease using a contract real estate broker.
2. “Commission Credit” means the amount of commission that is credited to the lease, if GSA’s broker agreed to forgo a percentage of its commission, in connection with the award of this lease.
BP 1.02 BROKER COMMISSION AND COMMISSION CREDIT (FEB 2026)
A. PUBLIC PROPERTIES (Broker) is the authorized real estate Broker representing GSA in connection with this Lease transaction. The total amount of the Commission is $XX and is earned upon Lease execution, payable according to the Commission Agreement signed between the Lessor and Broker. Only $XX of the Commission will be payable to PUBLIC PROPERTIES with the remaining $XX, which is the Commission Credit, to be credited to the shell rental portion of the annual rental payments due and owing to fully recapture this Commission Credit. The reduction in shell rent must commence with the first month of the rental payments and continue until the credit has been fully recaptured in equal monthly installments over the shortest time practicable.
B. Notwithstanding the “Rent and Other Consideration” paragraph of this Lease, the shell rental payments due and owing under this Lease must be reduced to recapture fully this Commission Credit. The reduction in shell rent must commence with the first month of the rental payments and continue as indicated in this schedule for adjusted Monthly Rent:
Month X Rental Payment $XX,XXX minus prorated Commission Credit of $XX,XXX equals $XX,XXX adjusted X th Month’s Rent.*
Month X Rental Payment $XX,XXX minus prorated Commission Credit of $XX,XXX equals $XX,XXX adjusted X th Month’s Rent.*
Month X Rental Payment $XX,XXX minus prorated Commission Credit of $XX,XXX equals $XX,XXX adjusted X th Month’s Rent.*
* Subject to change based on adjustments outlined under the paragraph “Rent and Other Consideration.”
BP 1.03 PAYMENT OF BROKER (FEB 2026)
If GSA awarded the Lease through its Broker, the Lessor must pay GSA’s Broker its portion of the commission according to the Commission Agreement signed between the Lessor and Broker. “Its portion of the commission” means the agreed-upon commission to GSA’s Broker minus the Commission Credit specified in the Lease or Lease Amendment.
| EXHIBIT K BROKER PROJECT |
| BP 1.01 DEFINITIONS: BROKER PROJECT ATTACHMENT (FEB 2026) |
| BP 1.02 BROKER COMMISSION AND COMMISSION CREDIT (FEB 2026) |
| BP 1.03 PAYMENT OF BROKER (FEB 2026) |
File details come from the government source that posted it. Updated .