The Foreclosure Group, LLC ('TFG') collects and compiles information on properties
in foreclosure in the State of Washington. This information is provided to interested
bidders by TFG, a real estate licensee associated with Windermere Real Estate/East,
Inc (collectively referred to as "Broker"). This Agreement sets forth the terms
under which the information is provided and defines the terms of the relationship
of the parties.
1. No Agency Relationship. The parties agree that they shall have no agency relationship
unless otherwise agreed in writing. Client has received and read a copy of the pamphlet
"The Law of Real Estate Agency." All real estate brokerage services shall be provided
by TFG or another real estate licensee associated with Windermere Real Estate/East,
Inc.
2. Broker will make available to Client information that TFG has compiled about
properties in foreclosure. TFG attempts to obtain information from trustees, tax
records, multiple listing service records and other public sources. The information
is available for Client to pick up at Broker's office. TFG and Broker do not have
physical access into the properties and do not guarantee the accuracy or completeness
of the information it makes available. TFG and Broker do not make any representations
about the quality or condition of properties or the fitness of any property for
Client's needs. Client will independently assess any properties and will seek independent
advice from the appropriate professionals. Information shall not be provided or
resold to any other person or entity.
3. If Client acquires any property for which Broker provided information within
6 months after Client's receipt of the information, then Client will pay Broker
a fee at the time of sale in the amount of three percent (3%) of the most recent
assessed value or the sale price, whichever is higher. For purposes of this provision,
Client shall be deemed to have acquired the property if Client purchases the property
directly, purchases an interest of 10% or more, or is the actual or beneficial owner
of a ten percent or greater interest in an entity that acquires the property.
4. Client may terminate this agreement at any time by giving written notice. Termination
shall be effective immediately and shall end all obligations of Client except for
any obligations existing on the date of termination.
5. Client agrees that the information provided by TFG or Broker shall be treated
as confidential. Client agrees not to distribute or share any information provided
by TFG or Broker with any other party except for an entity or company in which Client
has an ownership interest and which has agreed to pay the fee set forth in paragraph
3. As liquidated damages, Client agrees to pay the fee set forth in paragraph 3
for any property purchased by any other party with whom Client shared information
from TFG or Broker.
6. Client agrees that TFG and Broker may provide the same or similar information
on the same properties to more than one Client. TFG's principals also purchase foreclosure
properties for their own account.
7. Client acknowledges and agrees that TFG and Broker may pay other parties fees
and costs, including referral fees. Client further acknowledges and agrees that
TFG and Broker may receive referral fees if Client is referred to other parties
for related services, including real estate brokerage services.
8. In the event of any action for breach of the terms of paragraphs 3 or 5 of this
Agreement, the prevailing party shall be entitled to an award of reasonable attorney
fees, taxable costs, and reasonable litigation expenses.
9. It is understood that any investor shall not solicit any current members of TFG
without the written consent of TFG including but not limited to real estate agents,
mortgage brokers, contractors, etc.
1. Access to VESTUS. Upon registration, VESTUS grants to you nontransferable,
nonexclusive access to our databases and the information contained in the databases,
solely for the purpose of identifying investment and acquisition opportunities.
2. General Restrictions. You agree to use our information only for appropriate,
legal purposes, and in compliance with all applicable federal, state and local laws
and regulations. Information shall not be provided or resold to any other person
or entity.
3. Misuse. In the event that VESTUS suspects that the VESTUS databases or
our information has been misused, we may at our discretion conduct an investigation.
VESTUS systems and services may not be electronically accessed by automated programs
or other data extraction systems without prior authorization. VESTUS reserves the
right to cancel or not offer its service to any user that it deems is inappropriately
using its services.
4. Fees and Refund Policy. Fees for use of VESTUS are identified in the Client
Agreement. You agree to pay the fees as specified in the Client Agreement in the
form of a Cashier’s check on the same day a property is acquired. We further reserve
the right to suspend service to any delinquent account without notice. If you have
questions about our fees, please contact us before you complete an acquisition.
VESTUS will use reasonable efforts to deliver the information services to its customers,
and to compile information gathered from selected public records and other sources;
provided, however, customer accepts all information "AS IS". All transactions are
final with no refunds. Furthermore, VESTUS accesses and is charged for information
controlled by third parties and cannot guarantee the accuracy of the information.
5. Disclaimer Of Warranties. The information in the VESTUS database has been
compiled from public records and other proprietary sources for the specific purposes
of (1) identifying distressed residential properties available for sale, and (2)
the related financial obligations of such properties. Neither VESTUS nor any of
our data suppliers represents or warrants that the Information is current, complete
or accurate. VESTUS HEREBY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING
THE PERFORMANCE OF THE SERVICE AND THE ACCURACY, CURRENCY, OR COMPLETENESS OF THE
INFORMATION, INCLUDING (WITHOUT LIMITATION) ALL WARRANTIES OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE. ADDITIONALLY, UNDER NO CIRCUMSTANCES SHALL WE
BE LIABLE TO YOU FOR ANY DAMAGES WHATSOEVER, INCLUDING (WITHOUT LIMITATION) ANY
DIRECT, SPECIAL, INCIDENTAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, LOST PROFITS, OR
ANY OTHER CLAIMS OF YOURS OR THIRD PARTIES, EVEN IF WE HAVE BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES. You assume all risks associated with the use of our
databases and information.
6. Indemnification. You agree that you shall indemnify and hold harmless
VESTUS, members, employees and agents, and all entities that have contributed information
or data to, or provided services, for the Service, against any and all direct or
indirect losses, claims, demands, expenses (including attorneys' fees) or liabilities
of whatever nature or kind arising in any way out of your use of the Service or
of our databases or of the information and data contained therein. We will promptly
notify you of any such claim.
7. Communication. VESTUS primarily uses email to communicate with its customers.
All purchase receipts, confirmation notices, and welcome messages are delivered
through electronic communications. VESTUS may periodically communicate service and
other suitable updates with its customers via email.
8. Term. The term of this Agreement shall begin on the day that you agree
to these terms and shall continue until terminated by either of us upon notice,
which must be given in writing. The terms of sections 3, 4, 5, and 6 shall survive
termination. Additionally, all of the restrictions on use of our information shall
continue to apply to information downloaded from VESTUS until all copies of that
information are destroyed by you.
9. Other Terms. This Agreement shall be governed by Washington law. Failure
by either of us to insist on the strict performance of any of the terms and conditions
of this Agreement in one or more cases shall not be considered a waiver or relinquishment
for the future of any such term or condition or of any other term or condition.
The terms and conditions set forth here constitute our entire agreement, and any
additional or different terms or conditions set forth in any other document, including
without limitation any purchase order, shall be of no effect.