HARD MONEY PROJECT REFERRAL AGREEMENT
This Referral Agreement (the “Agreement”) is entered into _Date of registration in the HMP system_ (the “Effective Date”), by and between Hard Money Project, LLC, with an address of 833 Front St. Scotch Plains NJ 07076 (“HMP”) and ____ Name of registered lender in the HMP system __, (the “Lender”), collectively “the Parties".
- Purpose. HMP is in the business of referring ready & willing borrowers. Lender is desirous of gaining additional clients/customers for Private Lending purposes. HMP is in a position to refer potential clients/customers to Lender through Companies proprietary website “www.HardMoneyProject.com”.
- Arrangement. Upon the Effective Date of this Agreement, HMP may, from time to time, refer potential clients/customers to Lender. Lender will pay HMP a fee for each funded referral.
- Compensation. Lender shall pay HMP .75% for each successful referral, where a successful referral is defined as a referral that becomes a funded client/customer of HMP. Lender shall pay HMP $0.00 for any unfunded referral, where an unfunded referral is defined as a valid referral candidate/borrower that does not receive a loan from Lender through no fault of Lender or HMP; and a valid referral candidate is a potential borrower that meets the specifications stated in Section 1 above. Lender shall pay HMP at the time of funding a loan through the closing process, HMP referral fee shall be noted on the closing disclosure / HUD 1 as “referral fee”
- Term. This Agreement shall commence upon the Effective Date, as stated above, and will continue until Lender request termination in writing or upon HMP deeming a Lender to be acting against the best interest of the borrower’s or failing to comply to the terms, conditions & policies set forth by HMP.
- Confidentiality. During the course of this Agreement, it may be necessary for HMP to share proprietary information, including trade secrets, industry knowledge, and other confidential information to Lender in order for Lender to seek out potential referrals. Lender will not share any of this proprietary information at any time. Lender also will not use any of this proprietary information for his/her personal benefit at any time. This section remains in full force and effect even after termination of the Agreement by it’s natural termination or the early termination by either party.
- Termination. This Agreement may be terminated at any time by either Party upon written notice to the other party. Upon termination, Lender shall pay HMP all compensation due and owing for referrals made prior to the date of termination, but not yet paid if applicable.
- Representations and Warranties. Both Parties represent that they are fully authorized to enter into this Agreement. The performance and obligations of either Party will not violate or infringe upon the rights of any third-party or violate any other agreement between the Parties, individually, and any other person, organization, or business or any law or governmental regulation.
- Indemnity. The Parties each agree to indemnify and hold harmless the other Party, its respective Lenders, officers, agents, employees, and permitted successors and assigns against any and all claims, losses, damages, liabilities, penalties, punitive damages, expenses, reasonable legal fees and costs of any kind or amount whatsoever, which result from the negligence of or breach of this Agreement by the indemnifying party, its respective successors and assigns that occurs in connection with this Agreement. This section remains in full force and effect even after termination of the Agreement by its natural termination or the early termination by either party.
- Limitation of Liability. UNDER NO CIRCUMSTANCES SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY OR ANY THIRD PARTY FOR ANY DAMAGES RESULTING FROM ANY PART OF THIS AGREEMENT SUCH AS, BUT NOT LIMITED TO, LOSS OF REVENUE OR ANTICIPATED PROFITS OR LOST BUSINESS, COSTS OF DELAY OR FAILURE OF DELIVERY, WHICH ARE NOT RELATED TO OR THE DIRECT RESULT OF A PARTY’S NEGLIGENCE OR BREACH.
- Disclaimer of Warranties. HMP shall refer potential clients/customers as requested by Lender. HMP DOES NOT REPRESENT OR WARRANT THAT SUCH REFERRALS WILL CREATE ANY ADDITIONAL PROFITS, SALES, EXPOSURE, BRAND RECOGNITION, OR THE LIKE. HMP HAS NO RESPONSIBILITY TO LENDER IF THE REFERRALS DO NOT LEAD TO LENDER’S DESIRED RESULT(S).
- Severability. In the event any provision of this Agreement is deemed invalid or unenforceable, in whole or in part, that part shall be severed from the remainder of the Agreement and all other provisions should continue in full force and effect as valid and enforceable.
- Waiver. The failure by either party to exercise any right, power or privilege under the terms of this Agreement will not be construed as a waiver of any subsequent or further exercise of that right, power or privilege or the exercise of any other right, power or privilege.
- Legal Fees. In the event of a dispute resulting in legal action, the successful party will be entitled to its legal fees, including, but not limited to its attorneys’ fees.
- Legal and Binding Agreement. This Agreement is a legal and binding agreement between the Parties as stated above. This Agreement may be entered into and is legal and binding both in the United States. The Parties each represent that they have the authority to enter into this Agreement.
- Governing Law and Jurisdiction. The Parties agree that this Agreement shall be governed by the State and/or Country in which both Parties do business. In the event that the Parties do business in different States and/or Countries, this Agreement shall be governed by New Jersey law.
- Entire Agreement. The Parties acknowledge and agree that this Agreement represents the entire agreement between the Parties. In the event that the Parties desire to change, add, or otherwise modify any terms, they shall do so in writing to be signed by both parties.
- Non Compete. Lender will not solicit borrower’s who were referred by HMP for future business, all borrowers are encouraged to submit all future loan scenarios directly to www.HardMoneyProject.com. In the event Lender is found to be out of compliance with this policy they will be suspended and terminated from HMP’s referral platform. Lender will continue to be under the referral agreement for any future business from any borrowers who originated from www.HardMoneyProject.com
The Parties agree to the terms and conditions set forth above as demonstrated by their signatures as follows: