Sanford Area Association of Realtors

Key Use Agreement

This agreement is made by and between the Multiple Listing Service of the Sanford Area Association of Realtors® and _________________________________________ (Holder) as follows:

  1. Key Receipt - Holder herby acknowledges receipt of Key. Code number 2SI-7, Serial Number _________________________.
  2. Title to Key - Holder acknowledges that the Key is and shall be the sole property of the Issuer.
  3. Return of Key - Holder agrees to return the Key within 48 hours of receipt of a request to do so by the Issuer or within 7 days of any of the following events:
    1. Termination of the Broker as an active member of the Issuer.
    2. Termination of Holder's association with Broker for any reason.
    3. Failure to do so will result in forfeiture of Key Deposit.
  4. Safe Place - It is acknowledged that should the Key or a duplicate thereof come into the possession of unauthorized parties the security of all Key Boxes may be compromised. Therefore, the HOLDER shall keep the Key in his/her possession or in a safe place at all times.
  5. NO LOAN OF KEY - Holder shall not loan the Key to ANY person. The foregoing includes, but is not limited to, loans to appraisers, mortgage and utility agents, builders, other brokers and salespersons, prospective purchasers, or sellers.
  6. Duplication of Key - Holder shall not duplicate, attempt to duplicate, or allow others to do so. Any duplication of the Key for any purpose whatsoever, including but not limited to, duplication for Holder's personal use, shall be considered a violation of this agreement and shall result in forfeiture of the Key use privilege.
  7. Loss of Key - In the event Holder shall lose the Key, Holder shall notify the Issuer immediately in writing and when applicable shall execute for the police, a sworn affidavit as to all the facts surrounding the loss, with a copy for the Issuer. First replacement of a lost Key will cost $50.00, second replacement will cost $75.00, etc. Annual Key use fee will transfer time left to new Key issued.
  8. Indemnification - Holder covenants, agrees to, and hereby does indemnify and hold the Issuer harmless from any and all liability, obligations, or demands against the Issuer as a result of Holder's loss or use of the Key including, but not limited to, any and all liabilities, including attorney's fees, incurred by the Issuer as a result of damage or injury to premises or persons arising out of the entry by Holder or any other person into any premises by use of the Key.
  9. Reimbursement - Broker agrees to reimburse the Issuer for any and all expenses incurred by the Issuer's attempting to recover the Key for Holder as a result of Holder's failure to surrender the Key in accordance with this agreement. In the event the Issuer commences legal proceedings against Holder to recover the Key, to enforce, or interpret any of the provisions of this agreement, Holder agrees to pay all costs incurred by the Issuer together with any reasonable attorney's fees as determined by the court at trial and on appeal, if any.
  10. Broker-In-Charge's Responsibility - Broker-In-Charge (BIC) confirms that Holder is in fact associated with BIC, and that Holder does have his/her real estate license, and that BIC will notify the Issuer should the Holder terminate that relationship with the BIC. BIC agrees that he is jointly and severally liable with Holder for all duties, responsibilities, and undertakings of Holder under this agreement provided, however, that his agreement shall not be construed to make Holder and employee of BIC.
  11. Issuer recommends that Holder secure written authorization from owner of listed property for installation and use of KEY BOX on residence. Extreme care should be taken to ensure that all the doors and Key Box are locked.
  12. One Key per agreement and one agreement per person.
  13. Lock Box Key Check - Authorized Key Checks are required periodically by MLS Board of Directors. Failure to comply will result in fines imposed by MLS Bylaws and Rules and Regulations and/or possible recall of Key.

Supervising Broker-In-Charge's Signature_______________________________________________

Key Holder's Name (Print): _________________________________________________

Key Holder's License # ________________________________________________

Key Holder's Signature ________________________________________________

Sanford Area Association of Realtors® Issuer _______________________________

Date Key Issued: _______________________________

Date Key Returned:_____________________________