Appendix A – Service Agreement
SERVICES: Based on Client’s Financing Objectives, ASF will consult with Client to discuss and agree on Client’s financing needs and options. In line with these results, ASF will research, compile, complete, and present the “Loan Application(s)” to qualified Lender(s) to obtain the Lender’s to commitment to fund the loan, the “Loan Commitment”. ASF Services are agreed completed on the date the Lender is ready to fund the Loan Commitment. The description of Client’s Financing Objectives is attached to this Contract as Schedule A.
DUTIES: ASF and Client agree to cooperate as necessary to make available all information relevant to complete the Loan Application(s) and to obtain the Loan Commitment from the Lender.
FEES: By executing of this Contract, Client agrees to pay ASF a fee to process the Loan Application and supporting financial documents for underwriting, packaging, and syndication of the qualified loan(s) to an authorized and approved Lender(s). For these services being successfully provided, Client acknowledges and accepts that ASF shall earn 100 basis points (One Percent) of the loan amount funded. Prior to the loan closing date, Client shall authorize Lender to reconcile the ASF fees due on the closing loan & title settlement for services provided. ASF payment instructions will be supplied to Title company engaged for the loan closing.
INSTRUCTIONS: It is agreed that prior to the date the Lender is ready to fund the Loan Commitment, ASF may communicate to the Lender’s Closing Agent the obligation of Client to pay ASF’s Fees hereunder. This Contract shall constitute your authorization and instruction to the Closing Agent to acknowledge ASF as a Payee to be paid out of closing funds in the amount of the Fee as agreed herein.
TERM: This Contract is in effect for one year from execution. Either party may terminate this Contract on ten (10) days’ written notice to the other party. All earned fees remain payable.
CONFIDENTIALITY: ASF, its employees, agents, or representatives will not communicate any information that is proprietary to Client except when rendering the Services herein. This provision will continue in effect after the completion or termination of this Contract.
ENTIRE AGREEMENT: This Contract contains the entire agreement of the parties and supersedes any prior written or oral agreements between them. This Contract may only be modified or amended in writing signed by the parties. This Contract shall be construed in accordance with Colorado Law. If any provision of this Contract will be held unenforceable, the remaining provisions will continue to be valid and enforceable. The failure of either party to enforce any provision of this Contract shall not be construed as a waiver or limitation of that party's right to subsequently enforce every other provision. Disputes relating to this Contract shall be resolved by binding arbitration in accordance with the then-current Commercial Arbitration Rules of the American Arbitration Association in the State of Colorado.
DECLARATION: ASF’s duties and responsibilities under this Contract are expressly limited to exclude any activity or function traditionally performed as a “broker” as defined by the Securities Exchange Act of 1934, or as an “investment adviser,” as defined in the Investment Adviser Act of 1940.