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EZ Access aka Marc Tow

BULK FORECLOSURE PURCHASING AGREEMENT
THIS AGREEMENT (hereinafter “Agreement”) is made between EZ ACCESS FUNDING LLC, (a California LLC) DBA USA WEALTH INSTITUTE, LLC, (hereafter “EZ ACCESS”) and
Client Name: _______________________________________________ Email: ________________________________________
Address: _______________________________________ City: ______________________________ State: _______ Zip: _________
RECITALS
A.
Whereas, EZ ACCESS has established extensive relationships with wholesale foreclosure buyers, these buyers are willing to include EZ ACCESS in their bulk property purchasing.
B.
Whereas, EZ ACCESS has helped create a system where the said properties can be liquidated relatively quickly for profit.
C.
Whereas, CLIENT wishes to be given the opportunity to participate along with EZ ACCESS in their opportunity to purchase foreclosures at a discount.
D.
Whereas, CLIENT desires to purchase a property from EZ ACCESS, which property shall later be identified and approved of by EZ ACCESS and CLIENT.
Client shall indicate how many properties are being purchased, as well as the total funds being remitted to EZ ACCESS.
Property Count _______ x $30,000.00 = $____________________ Total funds to remit to EZ ACCESS FUNDING, LLC
ESCROW INSTRUCTION: CLIENT will forward total amount of funds to Marc Tow & Associates, Lawyers. Marc Tow, (Escrow Agent) will function as a disinterested third party to hold funds until EZ ACCESS has delivered a property address to Marc Tow, (Escrow Agent) which will ultimately be the property which will be deeded to CLIENT. Marc Tow will also function as a third party to hold client funds until the end of the 10 day "cooling off' period. EZ ACCESS will continue to fulfill its duties outlined within this agreement.
_______ Client initials. Client confirms that Client has read the entirety of the contract including the back side of this document. Terms of the agreement are as outlined on both the front and back of this document and will become effective when executed by both parties and purchase funds have been released to EZ ACCESS.
Notices: All notices, demands, and requests required or permitted to be given under this Agreement shall be in writing and shall be delivered or mailed, if to EZ ACCESS, to: 3920 Birch Street, Suite 102, Newport Beach, California 92660, email: TOWLAWYER [at] yahoo [dot] com , phone: (949) 975-0544
Client: ______________________________________________ Address: _______________________________________________
City: _______________________________________________ State: ___________ Zip Code: _______________
Email: ___________________________________________________ Phone: ___________________________________________
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year written below.
EZ ACCESS FUNDING, LLC.
DBA USA WEALTH INSTITUTE, LLC _________________________________________ ______________
Client Date
_______________________________________ _______________ _________________________________________________________
By: Mark Tow Date Printed Name
General Provisions.
1.
Risk. Each party shall perform the work or services at its own risk.
2.
No Authority to Bind Other Party. Neither party has authority to enter into contracts or agreements on behalf of the other party. This Agreement does not create a partnership between the parties.
3.
Choice of Law. Any dispute under this Agreement or related to this Agreement shall be decided in accordance with the laws of California.
4.
Arbitration. The parties to this Agreement agree to submit to binding arbitration under the rules of the American Arbitration Association any unresolved disputes between the parties and agree that the costs of such proceedings shall be reimbursed to the prevailing party.
5.
Ethical Conduct. Both parties agree to conduct business with the highest ethical standards and with the best interest of the consumer in mind.
6.
Entire Agreement. This Agreement (including any Exhibits attached hereto) represents the entire understanding and agreement between the Parties with respect to the subject matter hereof, and supersedes any prior understandings and agreements, written or oral, between such Parties with respect to such subject matter. Depending on the state where the Client’s allocated property is located, Client and EZ ACCESS may be required to enter into a state approved real estate purchase contract and disclosures as required under that state’s laws. The parties agree to enter into those Agreements and shall not unreasonably delay or reject such standard terms so long as they do not contradict terms or understandings under this Agreement.
7.
Severability. If any part of this agreement is held unenforceable, the rest of this Agreement with nevertheless remains in full force and effect.
8.
Amendments. This Agreement may not be modified, amended or discharged except by an instrument in writing signed by the parties hereto. No waiver or consent may be enforced unless such waiver or consent shall be in writing and signed by the party against whom enforcement thereof is sought. Any handwritten modifications or amendments to this Agreement shall supersede any conflicting printed term or condition.
2
NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:
Term of Contract. This Agreement will become effective when executed by the Parties.
Services and Responsibilities.
1.
EZ ACCESS will complete the contracted services for a “Fee” of no more than thirty thousand dollars ($30,000.00 US) per property.
2.
EZ ACCESS shall provide CLIENT with ownership to property with a marketable, clean and clear title. The property will be purchased by EZ ACCESS from a wholesale foreclosure and EZ ACCESS will have little information regarding the property.
3.
The property provided to Client will be valued no less than forty-five thousand ($45,000); said property value will be determined by online evaluations of property values. Once the property is identified by EZ ACCESS, Client will have the opportunity to obtain an appraisal at its own cost.
4.
EZ ACCESS will exchange said property from Client with a new property if the said property is found to be un-saleable by the process developed by EZ ACCESS, ordinances, the research crew of EZ ACCESS, or a contracted company to perform this inspection service. It is Client’s responsibility to inspect and approve of the Property as EZ ACCESS shall only hold title for a short period of time, will not reside in the property itself, and will therefore will have little information upon which a Client may rely.
5.
EZ ACCESS contracts with an approved “Client Services Company” to complete the following services and has developed a system for managing wholesale foreclosure properties. Client shall enter into EZ ACCESS’s approved “Client Services’ Companies” standard contract or Client may opt to enter into a property management contract with an property management company of Clients choice, but if Client chooses a property management company of its choice then Client shall be responsible for those property management costs and will not receive a discount or reduction in fees under this Agreement. The following services are part of the thirty thousand dollars ($30,000.00 US) fee paid to EZ ACCESS which will be provided by Property Management:
a. Determine the local market rent and place marketing material for sale of property.
b. Keep property presentable and in compliance with local laws and ordinances
c. Listing property for potential quick sale
d. Acquire Title Company and provide all closing documents to facilitate close with potential buyer
e. Maintain records for optimal sale of the note.
f. Qualify each potential buyer.
g. Shop the note to multiple note buyers, as well as lenders for potential refinancing
6.
EZ ACCESS has negotiated with Client Services Company the following services and associated fees. These fees only need to be paid out of potential profits and are not part of the thirty thousand dollars ($30,000.00 US) “Fee” paid to EZ ACCESS and are more fully described in Property Management’s separate contract with Client.
a)
Mortgage Management Fee: 10% of Mortgage Payment
b)
Sale of Note: 3% of sale price, Min $1,000
7.
If buyer should default, EZ ACCESS has negotiated with Property Management a $600.00 Default/Eviction fee which fee shall be paid by Client separately from the terms and fees contained in this Agreement.
8.
EZ ACCESS shall make its staff, employees, and resources available during reasonable hours to the Client for assistance in liquidating said property.
9.
EZ ACCESS shall use its best efforts to assist Client in completing and profiting from the liquidating of said property.
10.
Client shall provide funding to EZ ACCESS for the purchasing of properties and services outlined in this Agreement in the amount of thirty thousand dollars ($30,000.00 US) per property.
Contractual Relationship
1.
Independent Relationship. This document is a purchase contract. Client is purchasing real property from EZ ACCESS. This purchase agreement does not create any kind of business partnership between the Parties. EZ ACCESS is contracting with a client services company to perform the above mentioned duties. Each party is an independent party and will be working together to purchase foreclosed properties at a bulk pricing discount. EZ ACCESS will purchase the bulk foreclosure properties based on the demand generated from clients who enter into these Agreements. Clients will have the option of approving of their property but should Client not notify EZ ACCESS within three (3) business days of its disapproval of the property allocated to Client then such silence shall constitute acceptance of the allocated property. EZ ACCESS shall notify Client of its allocated property and Client shall give its approval or disapproval via the means of communication in which the parties have dealt. Electronic communications such as e-mail, standard mail and other methods of communication commonly used between the parties in their dealings shall be sufficient notice under this paragraph. Client may request additional time to approve of its property within three (3) business days for legitimate purposes which Client must communicate to EZ ACCESS and which EZ ACCESS shall not unreasonably deny.
2.
Federal, State and Local Taxes. Neither Federal nor state, nor local payroll tax of any kind shall be withheld or paid by EZ ACCESS on behalf of CLIENT.
3.
Notice of Tax Duties and Liabilities. Both parties understand that each party is responsible to pay, according to law, their own tax responsibilities. Neither party will be responsible for any Federal, state or local taxes owed by the other party.
4.
Indemnity. CLIENT agrees to indemnify and hold EZ ACCESS harmless from all claims, demands, losses, costs, expenses, obligations, liabilities, damages, recoveries, and deficiencies, including interest, penalties, costs, and attorney’s fees that CLIENT may incur, arising from or out of willful or negligent misconduct of EZ ACCESS while providing services under this Agreement.
Termination of Agreement
1.
Termination. CLIENT may terminate this agreement prior to their funds being used to purchase a property. EZ ACCESS will assess a 10% administration fee upon written notice to terminate. Funds will be refunded to CLIENT within 10 business days. The parties shall continue to deal with each other in good faith.
Warranties
1.
Confidentiality. In the performance of the service contemplated by this Agreement, CLIENT agrees to hold in strict confidence all confidential or proprietary information that it receives relating to EZ ACCESS’s business, and CLIENT will not divulge or otherwise communicate such information to a third party without EZ ACCESS’s prior written consent. Confidential or proprietary information shall include all information obtained by CLIENT from EZ ACCESS, and which relates to EZ ACCESS’s past, present, or future business activities, including CLIENT lists, technology and operational processes and manuals, except for previously obtained or publicly disclosed information. CLIENT acknowledges that breach of this Section would cause EZ ACCESS to suffer irreparable harm for which monetary damages would be inadequate compensation. CLIENT agrees that EZ ACCESS will be entitled to an injunction restraining any actual or threatened breach of this Section, or specific performance, if applicable, in addition to any monetary damages.
2.
Confidentiality of Client Information. In the performance of the service contemplated by this Agreement, EZ ACCESS agrees to hold in strict confidence all personally identifiable or financial information that EZ ACCESS receives relating to Client , and EZ ACCESS will not divulge or otherwise communicate such information to a third party, except to needed Client Services Company, without the client’s prior written consent. EZ ACCESS agrees to comply with all federal and state laws and regulations dealing with personally identifiable or financial information.