Exhibit L. Lease - Broker Project (May 2026).pdf
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- Attached to
- General Services Administration (GSA) Seeks to lease the following space: Solicitation No. 2TN0427
- Solicitation number
- 2TN0427
About this file
This is a GSA Lease Template Exhibit L addressing broker project requirements and commission structures for federal real estate leases. The exhibit establishes definitions and payment procedures for cases where GSA awards a lease through a contracted real estate broker. PUBLIC PROPERTIES is identified as the authorized broker representing GSA in the lease transaction.
The exhibit specifies that the total broker commission is earned upon lease execution and payable according to a separate Commission Agreement between the lessor and broker. A portion of the commission, designated as the "Commission Credit," is credited against the shell rental portion of annual rental payments rather than paid directly to the broker. The lessor must reduce monthly shell rent payments to fully recapture the Commission Credit in equal monthly installments beginning with the first month of rental payments and continuing over the shortest practicable timeframe. The document includes a schedule format showing how monthly rental payments are reduced by the prorated Commission Credit to arrive at adjusted monthly rent amounts, with adjustments subject to changes outlined in the "Rent and Other Consideration" paragraph of the lease. The lessor must pay the broker's portion of commission (calculated as the agreed-upon commission minus the Commission Credit) according to the Commission Agreement signed between the lessor and broker.
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Text version
LEASE NO. LTN02540, PAGE 1 LESSOR: ________ GOVERNMENT: ________ GSA TEMPLATE L100, BROKER
PROJECT EXHIBIT L (5/26)
EXHIBIT L. 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 L. 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 .