PURCHASE AGREEMENT BETWEEN ezREIclosings LLC AND PURCHASER
This Purchase Agreement (“Agreement”) is made between ezREIclosings LLC, a limited liability company organized under the laws of the State of Tennessee, having its principal place of business at 5312 Ringgold Road, Suite 202, East Ridge, Tennessee 37412 (“ezREIclosings”) and the purchaser (“Client”), with a mailing address and email address as provided on the account registration page.
- Term: The term of this Agreement shall commence on the date of execution by the Client and shall continue for a period of one year (“Initial Term”). This Agreement will automatically renew for successive one-year periods (“Renewal Term”) unless the Client provides written notice of non-renewal at least thirty (30) days prior to the expiration of the then-current term.
- Payment: The Client agrees to pay ezREIclosings the applicable subscription fee, which shall be automatically charged to the Client’s credit card on file on the same day each month, corresponding to the Client’s signup date (“Payment Date”). The Client acknowledges that they will not receive an invoice for the monthly charges, however an invoice of $749 per closing will be billed and payable at closing. Should the Client exceed the allotted number of contract uploads per month under their selected plan, an overage fee will be applied. Specifically, a fee of $199 will be charged to the Client’s credit card on file at the time of the excess upload, and an additional fee of $749 will be invoiced and added to the transaction to be paid at closing. The Client further acknowledges that there are no refunds for unused services within a month, and that such unused services do not carry over to subsequent months. This plan is good for up to 2 files per month.
- Termination and Cancellation:
This Agreement will automatically renew for successive one-year terms unless either party provides written notice of its intent not to renew at least thirty (30) days prior to the end of the then-current term. The Client may cancel this Agreement by providing thirty (30) days’ written notice to ezREIclosings. Upon such cancellation, the Client shall be responsible for a final payment equivalent to one month’s subscription fee, which shall be due at the time of cancellation. Following the final payment, ezREIclosings will continue to work on any active files for a period of thirty (30) days. Any deals submitted by the Client that have not closed at the time of cancellation will continue to be processed by ezREIclosings for thirty (30) days from the date of the final payment. - Services: ezREIclosings LLC agrees to provide the Client with access to its proprietary online platform for the management and administration of real estate transactions. The Client acknowledges and understands that ezREIclosings LLC is acting solely in an administrative capacity and does not provide legal or financial advice or direction. The Client is solely responsible for their own actions and agrees to indemnify and hold ezREIclosings LLC harmless from any and all claims, demands, damages, liabilities, expenses, and losses arising from the Client’s use of the services provided under this Agreement. The Client acknowledges that ezREIclosings LLC is not providing legal or financial advice, and that the Client should seek advice from an attorney representing them for such advice.
- Use of Documents: The Client acknowledges and understands that any documents or contracts made available to them by ezREIclosings LLC should be reviewed by their attorney or legal representative. The Client agrees that the use of such documents and contracts is at their sole risk and responsibility. The Client specifically indemnifies ezREIclosings LLC and agrees to pay any and all legal fees associated with any legal action arising from the use of such documents and contracts in an immoral, illegal, or unscrupulous manner.
- Entire Agreement: This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and agreements between the parties relating to the subject matter hereof.
- Governing Law and Dispute Resolution: This Agreement shall be governed by and construed in accordance with the laws of the State of Tennessee, without giving effect to any choice of law or conflict of law provisions. Any legal action arising from or related to this Agreement brought by the Client against ezREIclosings LLC shall be brought exclusively in the state or federal courts located in Tennessee. The parties agree to submit any dispute arising from or related to this Agreement to binding arbitration under the Commercial Arbitration Rules of the American Arbitration Association, and any judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. The parties agree to keep all proceedings and any information disclosed therein confidential. The arbitration shall be held in Tennessee. The parties shall bear their own costs, including attorneys’ fees, incurred in connection with the arbitration proceedings.