Fill and Sign the Agreement between Mortgage Brokers to Find Acceptable Lender Form

Agreement between Mortgage Brokers to Find Acceptable Lender for Client Agreement made on the ______________________ (date), between ______________ ____________________________________ (Name of Contracting Broker), a corporation organized and existing under the laws of the state of _______________, with its principal office located at ____________________________________________________________________ _____________________________________ (street address, city, county, state, zip code) , referred to herein as Contracting Broker, and ______________________________ (Name of Referral Broker), a corporation organized and existing under the laws of the state of ________________, with its principal office located at _________________________________ ___________________________________________________ (street address, city, county, state, zip code) , referred to herein as Referral Broker. Whereas Contracting Broker has entered into a Mortgage Brokers Contract with ____________________________ (Name of Client) of _______________________________ ___________________________________________________ (street address, city, county, state, zip code) , hereafter referred to as the Client; and Whereas, a copy of the said Mortgage Broker Contract is attached hereto as Exhibit A; and Whereas, Referral Broker has agreed to aid Contracting Broker is finding an acceptable lender for Client; Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: A. Contracting Broker agrees to pay Referral Broker (state manner of payment, e.g., percentage of fee of dollar amount of loan) _______________________________________ ________________________ if Referral Broker finds a lender acceptable to Client that is used by Client in consummating the transaction referred to in the Contract attached in Exhibit A. B. Referral Broker will have no direct contact with Client and will not compete with Contracting Broker in finding an acceptable lender for Client. C. Referral Broker agrees that, in the event of its violation of the Agreement against competition contained in Paragraph B of this Agreement, Referral Broker will pay Contracting Broker as liquidated damages the sum of $________________ (this amount should be an estimate of lost fee) . D. Referral Broker further agrees that it will not at any time, either directly or indirectly, communicate to any person, firm, corporation or public entity, in any manner whatsoever, any information concerning any matters affecting or relating to this Agreement or the loan being sought by Client other that in furtherance of finding an acceptable lender for Client in accordance with this Agreement. E. This Agreement is made for an indefinite term, subject to termination on ____ (number) days' written notice by either party sent to the respective address indicated at the beginning of this Agreement; provided, however, the agreements set forth in Paragraphs B, C and D shall continue for one year after termination of this Agreement. WITNESS our signatures as of the day and date first above stated. _____________________________ ______________________________ (Name of Contracting Broker) (Name of Referral Broker) By: ___________________________ By: ____________________________ (Printed or typed name) (Printed or typed name) _______________________________ ________________________________ (Name and Office in Corporation) (Name and Office in Corporation)