Fee Agreement .5pt
Between located at hereinafter known as “Borrower”, or any entity designated by you to act as the borrower on the loan documents or loan commitment, and InterCapital US, LLC with offices located at 414 Hackensack Ave, Apt 2201, Hackensack NJ 07601 (hereinafter known as “Consultant”), enter into this agreement on 01-01-1970.
In consideration of the mutual agreements and promises set forth herein, Borrower and Consultant agree as follows:
Consultant agrees to use its best efforts during the term of this Agreement to secure a lender (hereinafter “Lender”) for Borrower’s benefit and to submit financial data and information supplied by Borrower to Lender, for the sole purpose of obtaining capital for Borrower. Consultant shall not disclose any of Borrower’s information to any person or use any such information for any purpose other than as provided herein.
“BORROWER” hereby agrees to pay InterCapital US, LLC a total Consultant’s fee of half (.5) point of the total amount of the warehouse line extended.
Upon delivery of a bona fide Lender, ready, willing and able to fund the warehouse line, on terms acceptable to the Borrower AS EXPRESSED through and execution of such lender’s commitment letter, the Broker Fee shall at that time be deemed to be earned in full and immediately payable upon the closing of the transaction and when the loan funds. Borrower will pay the Consultants fee separate from the warehouse line being extended and will not come from the warehouse line itself. Consultant fee will be wired to the Consultant the same day as the warehouse line extended closing.
As further consideration to Consultant, Client agrees not to obtain financing from Lender/Investors supplied by Consultant, either directly or through third parties, without prior written consent of Consultant, for a period not to exceed two (2) years from the date of this agreement, except through Consultant. A separate fee agreement shall be required for these services. Also, all future transactions to be presented will fall under this fee agreement within the two-year term with each lender that InterCapital US, LLC introduces.
Client understands and hereby agrees that there is no guarantee that their application can be successfully placed or that a commitment will be issued by InterCapital US, LLC on behalf of any Lender. Consultant is an Independent Consulting Agency and is not authorized to make any financial commitments on behalf of any Lender/Investor.
Consultant will have no responsibility for, nor will Consultant make recommendations, concerning the terms, conditions or provisions of any agreement between Client and an investor, including the manner or means of consummating the transaction.
This Agreement shall be binding upon all parties and their respective estates, heirs, successors and permitted assigns. This Agreement may be changed only by the written consent of all parties. This Agreement may not be assigned by either party without the written consent of the other. This Agreement is the entire agreement between us. Should any legal proceeding be necessary to construe or enforce the provisions or this Agreement, then the prevailing party in such legal action shall be entitled to recover all court costs, reasonable attorney fees and costs of enforcing or collecting any judgment awarded. The judgment by any court of law that a particular section of this Agreement is illegal shall not affect the validity of the remaining provisions.
It is our intention that the laws of the State of New Jersey shall govern the validity of this Agreement. Your signature below shall bind you to the terms and conditions of this Agreement.
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Signed by Robert Ferra
Signed On: May 28, 2020
If you have questions about the contents of this document, you can email the document owner.
Document Name: Fee Agreement .5pt
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