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t ' • • <br /> CFT NV DEVELOPMENTS. LLC <br /> AGENCY AGREEMENT <br /> This Agency Agreement("Agreement') is entered into as of August 13 , 2019 <br /> ("Effective Date"), by and among CFT NV Developments,LLC, a Nevada limited liability <br /> company("CFT"or"Principal"),whose address is: 1120 N. Town Center Drive, Suite <br /> 150,Las Vegas,NV 89144; and Roger Goldstein,Derek Knight, and David Wang,as <br /> employees and authorized representatives of Panda Express,Inc., a California corporation <br /> ("Panda Express"), each of whose address is: c/o Panda Restaurant Group,Inc., a <br /> California corporation("PRG"), with its corporate office address at 1683 Walnut Grove <br /> Avenue,Rosemead, California 91770 (collectively, "Agents"). <br /> WHEREAS, each Agent identified herein is hereby appointed as an agent for CFT, <br /> and may act separately as expressly authorized herein. Each Agent and CFT,respectively, <br /> each hereby accepts the foregoing assignment and appointment under this Agreement. <br /> NOW THEREFORE, in consideration of the mutual covenants and agreements <br /> herein contained, the parties hereby agree as follows: <br /> 1. SCOPE OF AUTHORITY.Each Agent, acting separately,may execute <br /> applications in connection with the development and construction of building improvements <br /> relating to a Panda Express restaurant on property owned or to be owned by CFT and leased <br /> or to be leased to Panda Express, including without limitation, government issued <br /> construction permits, utilities, easement agreements, and replat/subdivision applications, <br /> subject to review by PRG attorneys or such Agent, in accordance with its customary <br /> practices. <br /> 2. TERM OF AGREEMENT. Principal does hereby engage each Agent as its <br /> non- exclusive agent, each of whom may act separately,to accomplish the tasks herein <br /> described for an unlimited period, subject however to termination pursuant to Section 5 of <br /> this Agreement. <br /> 3. COMPENSATION. Each of the Agent's duties and compensation are <br /> included within the scope of such Agent's duties and compensation as an employee of PRG, <br /> an entity related to the Principal. <br /> 4. DUTIES OF AGENT. Each Agent accepts such engagement and agrees to <br /> endeavor to faithfully and diligently perform his respective duties described hereinabove, <br /> for the exclusive benefit of Principal. <br /> 5. TERMINATION OF AGREEMENT.Any party shall have the right to <br /> terminate this Agreement at any time upon written notice delivered to all other parties. <br /> 6. BOOKS AND RECORDS. PRG, on behalf of the Principal, shall cause <br /> accurate books and records pertaining to transactions contemplated by this Agreement to be <br /> Page 1 of 4 <br />