This Agreement is entered into this day of , by and between The Renter’s Edge (“Renter’s Edge”) and (“Resident”).
|
1. RECITALS
The Renter’s Edge, Inc. has established the Renter’s Edge Program (the “Program”) to give renters the opportunity to create “accrued credits” towards the purchase of a new Classic home or an existing home.
|
2. ENROLLMENT INFORMATION
|
3. NEW HOME PLAN
If during the term of this Agreement, Resident purchases a new home from Classic Homes, then at the closing of the home purchase, Resident shall receive a credit from Classic Homes in an amount equal to 20% of the rent (exclusive of all deposits, pet fees, pet rent, ancillary rental fees and other miscellaneous fees) paid after the effective date of this Agreement with a maximum credit of $3,000.00.
|
4. EXISTING HOME PLAN
If during the term of this Agreement, Resident purchases a existing home from Alex and Michelle Dumas, ERA Shields Real Estate then at the closing of the home purchase, Resident shall receive a credit from Alex and Michelle Dumas, ERA Shields Real Estate in an amount equal to 10% of the rent (exclusive of all deposits, pet fees, pet rent, ancillary rental fees and other miscellaneous fees) paid after the effective date of this Agreement with a maximum credit of the lesser of $2,000.00 or 1% of the purchase price.
|
5. TERMS OF AGREEMENT
This Agreement shall commence on the Effective Date and terminate on the first to occur of (i) Resident’s default under the provisions of this Agreement, (ii) 30 days after the expiration or termination of Resident’s lease (iii) The Renter’s Edge© elects to terminate this Agreement.
In no event shall more than one Renter’s Edge credit be allocated per home purchase. Resident shall not be entitled to the Renter’s Edge Program Credit if, at any time throughout the term of this Agreement, Resident is in default under this Agreement or its lease. Resident acknowledges that their apartment community will not segregate and retain any of Resident’s rent payments and that their apartment community will not pay any of Resident’s rent nor any other consideration to Classic Homes or Alex and Michelle Dumas, ERA Shields Real Estate to obtain the Renter’s Edge Program Credit. Any references to rent are solely for the purpose of defining the amount of the credit that will given upon the Resident’s satisfaction of the terms and conditions of the Program.
|
6. LEASE CANCELLATION FEE
Resident acknowledges that if Resident purchases a home from and elects to move into that home prior to the expiration of their lease, their apartment community may charge Resident a lease cancellation fee.
|
7. RESIDENT AGREEMENTS
Resident hereby covenants and agrees that:
a. Resident must apply, qualify and close for their mortgage loan with Classic Mortgage for a new home and ERA Mortgage for an existing home.
b. Resident may not assign this Agreement.
c. Resident may not be represented by another Real Estate Broker other than a Classic Homes sales agent for a new home or Alex or Michelle Dumas for an existing home.
|
8. INDEMNIFICATION AND DISCLAIMER
Resident shall indemnify, defend and hold The Renter’s Edge harmless for, from and against any and all losses, claims, demands, costs and expenses of any kind or nature including, without limitation, reasonable attorneys’ fees and costs that are or may be incurred by the Resident in connection with or relating to Resident’s purchase or agreement to purchase a home. The Renter’s Edge makes no representations as to the quality, use or value of any property, nor does it warrant or guarantee the products or services of any seller, financier, or closing service provider. Resident should consider obtaining expert evaluations and inspections of any property, and expert advice regarding any property financing or closing services.
|
9. CONFIDENTIALITY
Resident acknowledges and agrees that The Renter’s Edge shall be permitted to disclose to Classic Homes or Alex or Michelle Dumas any information given to The Renter’s Edge by Resident.
|
10. NO BROKERAGE
Resident acknowledges that The Renter’s Edge is not acting as a broker of any kind. The Renter’s Edge may receive a referral fee upon the loan closing of the home.
|
Please select which program you would like to participate in:
New Home Program Existing Home Program
|
IN WITNESS WHEREOF, The Renter’s Edge, Inc. and Resident have entered into this Agreement as of the day and date first above written.
|
Renters Edge, Inc.
Name: ___________________________
Its: ___________________________ Date: ______________________
Resident
Name: Date:
Name: Date:
|
Print before you submit!!
|
