I have a draft disclaimer for my Commercial loan consulting form, i need to ensure their is no gray area for lawsuits, complaints or refunds. I want to ensure this is crystal clear, and I cover all the potential issues.
Line 1 (Section "A")Client has retained Americap Direct, known as"AMD" hereafter, for a periord of 90 days from the date of this approval letter. During this periord "AMD", shall secure funding amount of $_______, but not less than $________. Final interest rate, fees, term shall be suject to Underwrting by designated Investor and shall
not constitude a breach of this agreement. loan Interest rate may only have a 4% maximum varience from the proposed rate of this agreement, closing fee may only have a 3% varience from the proposed rate of this agreement, and loan term shall have a 5 year maximum varience for the Bridge loan and 7 year varience for perfmanent loan term, due diligence should have a maximum of 1% of the loan amount varience, and down pament a maximum of 20% varience of required down down payment, such final changes shall not constitute breach of this agreement or
reason for any due diligence refund. AMD shall secure a bonafide term sheet or Approval letter from their pool of desinated
Investors, Banks, Bond Provider or Hard Money Private Group. The designated Investor is not required to be licensed as a lender to
fund the loan. If Borrower refuse the bonafide term offer issued by "AMD", on behalf of the Private Investor, this action will consider and consgitute a breach
of agreement and Client full due diligence becomes non-refundable and total commission is fully earned and due within 30 days. "AMD" can utilize Client information to file UCP lien filing on business or Property for any outstanding comission debt owed to "AMD". "AMD" shall file a legal claim in appropriate local Superior Court for oustanding comission as per this agreement. Client must meet all the required guidelines of the designated Investor, any failure to meet the requirements, such as required down payment, closing cost, financials, insufficient loan value, fraud, incorrect information, insufficient income, new credit issues, shall constitute a breach of this agreement and no refund shall be granted to client. "AMD" accepts no responsibility or liability if loan does not close with Investor, for any reason with Investor. "AMD" has no responsibility or liability for any due diligence fees, retainer fees, third party fees paid to third party Investor or any third party [url removed, login to view] shall be no refund, if Borrower does not accept the term sheet provided by AMD, as stipulated in line 1, section [url removed, login to view] may not also
file any legal claim against AMD for due diligence refund, or file any complaints with any Public Agency or Consumer Agency in the USA. Client may request a monthly invoice statement, reflecting fee usage for 30 a day period. If client funds are in escrow account, Client must provide written permission for AMD, to utlize fees for third psrty reports and hourly services.
If AMD fails to provide a bonafide funding offer within 90days, AMD shall refund due diligence fees, subject to any third party reports, and 45 hours of billate rate of $250.00. AMD shall refund the balaance wihtin 10 business days. Client shall not file any complaint to any Consumer or Government agency as long as AMD refund balance within 10 days.
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