Business MIC Application

Business MIC Application

THIS APPLICATION AND AGREEMENT (the Agreement) is made effective as of by and between:

Applicant Name:

Mortgage Investment Corporation Name:

RECITALS

WHEREAS, Applicant seeks to apply for admission as an investor, participant, or counterparty to the Mortgage Investment Corporation and to make capital contributions on the terms set forth in this Agreement; and

WHEREAS, the Mortgage Investment Corporation is authorized to accept investments, manage mortgage assets and make distributions subject to the Corporation's governing documents, and desires to accept Applicant subject to the representations, warranties and covenants set forth herein.

WHEREAS, the parties intend for this Application to memorialize application data, payment terms, and a binding agreement for the provision and use of funds if and when accepted by the Mortgage Investment Corporation.

APPLICANT INFORMATION

Corporation    LLC    Partnership    Sole Proprietorship    Other:

OWNERSHIP AND AUTHORIZED SIGNATORIES

List all beneficial owners holding greater than 25% interest, and authorized signatories for binding commitments:

FINANCIAL INFORMATION

Applicant certifies that the financial information provided is complete and accurate and acknowledges that the Mortgage Investment Corporation will rely upon these representations in evaluating this Application.

SCOPE OF WORK

The Mortgage Investment Corporation shall, subject to acceptance of this Application and receipt of funds, perform the following services in accordance with its governing documents and applicable law:

Applicant obligations include timely funding of contributions, accurate provision of required documentation, and compliance with the Corporation's policies on asset acceptance, servicing, and reporting.

PAYMENT TERMS

Investment Amount: Applicant agrees to commit an aggregate amount of to the Corporation in accordance with the schedule below.

Lump sum on acceptance    Installments per schedule below

Fees: Applicant acknowledges payment of any applicable management, origination or administrative fees in the amount of and authorizes deduction in accordance with the Corporation's policies.

Late Payment: Amounts not received when due shall bear interest at a rate of until paid and Applicant shall be responsible for costs of collection, including reasonable legal fees.

TERM AND TERMINATION

Term Commencement Date:    Term Expiration Date:

Either party may terminate this Agreement for convenience upon written notice delivered no fewer than days prior to the effective termination date. Termination by reason of material breach shall be effective immediately upon written notice specifying the breach if such breach is not cured within thirty (30) days.

CONFIDENTIALITY

Each party acknowledges that in the course of performance it may be exposed to Confidential Information of the other party. "Confidential Information" includes non-public financial data, transaction terms, investor identities, proprietary models, loan documents and similar information. Each party shall (i) hold Confidential Information in strict confidence, (ii) not disclose it to any third party except as required by law or as necessary to perform obligations under this Agreement, and (iii) use it solely for the purposes contemplated by this Agreement. These obligations survive termination for a period of five (5) years.

REPRESENTATIONS, WARRANTIES AND COVENANTS

Applicant represents and warrants that: (a) it is duly organized and validly existing under the laws of the jurisdiction of its formation; (b) the execution, delivery and performance of this Agreement have been duly authorized by all necessary corporate or organizational action; (c) funds to be provided are not derived from illegal activity and Applicant will provide reasonable documentation for anti-money laundering and know-your-customer purposes upon request; and (d) no bankruptcy or insolvency proceedings are pending against Applicant.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the jurisdiction selected by the Corporation. The parties submit to the exclusive jurisdiction of the competent courts of that jurisdiction for any dispute arising under or in connection with this Agreement.

ENTIRE AGREEMENT

This Agreement, together with appendices, schedules and any accepted application documentation, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings and communications, whether written or oral. No amendment will be effective unless in writing and signed by duly authorized representatives of both parties.

CERTIFICATIONS & ATTACHMENTS

By submitting this Application, Applicant certifies that the information provided is true, complete and correct and acknowledges that the Mortgage Investment Corporation may verify such information. Applicant agrees to deliver requested supporting documentation upon demand.

Attachments (check all included):
Corporate resolution or authorization    Financial statements (audited if available)    KYC/AML documents    List of mortgage assets (if applicable)

MISCELLANEOUS PROVISIONS

Notices under this Agreement shall be in writing and delivered to the addresses provided in this Application. If any provision hereof is held invalid or unenforceable, the remainder of the Agreement shall remain in full force and effect. No waiver of any breach shall constitute a waiver of any subsequent breach.

ACKNOWLEDGMENT

Applicant acknowledges that submission of this Application does not constitute acceptance by the Mortgage Investment Corporation. Acceptance is effective only upon written notice from the Corporation and receipt of funds in cleared form in accordance with the Payment Terms set forth above.

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