Archive for year: 2017 (Page 2)

Resolution: To reject the offered contract of Realtors Association of New Mexico General
Amendment 2-2017 between Reginald L. Olson, Exp Realty, LLC and 21 st Century Public Academy and
propose counter offer of payment.
Whereas, 21 st Century Public Academy requested an opinion from their attorney Mr. Robert Fuentes
regarding the issue of signing the newly submitted contract between 21 st Century Public Academy and
Mr. Olson of Exp, Realty, for broker commission on the purchase of 4300 Cutler Ave., Albuquerque,
New Mexico 87110
Whereas, 21 st Century Public Academy had a signed Broker agreement with Mr. Olson of Exp. Realty
beginning February 15, 2016 with an ending date of September 15, 2016,
Whereas, Mr. Olson permitted the original agreement to expire and then attempted to extend the
original agreement by having a new agreement signed after the original agreement expiration date,
Whereas, the second agreement is not legally valid due to the lack of new consideration not being
noted in the second agreement document.
Whereas, Mr. Olson has agreed to modify his commission from the first agreement from 3% to a flat
rate of $100,000.00 plus NMGRT which would be split equally between 21 st Century Public Academy(
the buyer) and MELD, LLC(the seller),
Whereas, Mr. Olson has put forth an Amendment 2-2017 for consideration by the 21 st Century Public
Academy Governance Council for payment of his mutually agreed upon commission of $50,000.00 plus
NMGRT (currently 7.5%) for a total of $53,750.00 with the condition that if MELD, LLC does not pay
their agreed half of the commission then the school would be responsible for payment of the
remaining commission to Mr. Olson due from MELD, LLC.
Whereas, 21st Century Public Academy Governance Council agrees to pay Mr. Olson the $50,000.00
plus NMGRT commission for his services in acquiring the 4300 Cutler Ave. property, the council does
not agree to pay commission for the associated properties nor the vacant lot as stated in Mr. Olson’s
amendment 2-2017.
Be it resolved, that the 21 st Century Public Academy Governance Council is eager to settle the issue of
broker commission with Mr. Olson as soon as possible. Therefore, the Council has decided to offer to
pay Mr. Olson the half of his commission payment ($50,000.00 plus NMGRT for a total of $53,750.00)
due from 21 st Century Public Academy which is conditioned upon receipt of a full release from Mr.
Olson for 21 st Century Public Academy and the 21 st Century Public Academy Governance Council with
the provision that Mr. Olson is able to pursue his claim for commission due against MELD, LLC., if he
chooses to do so. It is in the best interest of all parties to make this offer valid until December 21,
2017. At that time this offer will become null and void.
We, the Governance Council of 21 st Century Public Academy hereby approve and adopt resolution 12-
7-2017 as outlined herein.
Passed and Approved this 7 th of December, 2017