Property Condo Features

PROPERTY CONDO FEATURES AGREEMENT

Client Name:   Client Address:

Service Provider Name:   Provider Address:

Property Name:   Property Address:

WHEREAS

WHEREAS, Client is the legal owner or authorized representative of the condominium unit identified above and requires a definitive, verified description of physical features, systems, appliances, and amenities of the unit and the condominium common elements for use in marketing, resale disclosures, and purchaser due diligence;

WHEREAS, Service Provider is engaged in preparing property feature documentation, inventories, photographic documentation, and associated deliverables and represents that it has the experience, personnel, and licensing required to perform the services set forth in this Agreement;

WHEREAS, the parties desire to set forth the scope, payment, confidentiality, term and other terms governing the preparation and delivery of the Property Condo Features deliverables.

SCOPE OF WORK

Service Provider shall inspect, verify, document and prepare a written and photographic features inventory for the Property, including unit-specific systems and finishes and condominium common facilities as set forth below. Deliverables shall include a finalized features listing in editable format and one PDF summary. Any changes to scope shall be documented in writing and signed by both parties.

PAYMENT TERMS

Total Fee: $   Deposit Required: $

Overdue payments shall incur a late fee of or interest at , whichever is greater, calculated from the due date until paid in full.

TERM AND TERMINATION

This Agreement commences on Start Date: and shall continue until End Date: unless earlier terminated in accordance with this section.

Either party may terminate for convenience upon written notice delivered at least days prior to the effective termination date. Material breach by either party that is not cured within 15 days of written notice shall permit the non-breaching party to terminate immediately.

CONFIDENTIALITY

Each party shall treat as confidential all non-public business, financial, tenant and owner information disclosed in connection with this Agreement ("Confidential Information"). Confidential Information shall not be disclosed to third parties except to those employees, agents or contractors who have a need to know and who are bound to confidentiality no less protective than this Agreement. Confidential Information shall be held in confidence for a period of three (3) years after disclosure, except that trade secrets shall be protected for as long as they remain trade secrets.

Disclosure to retained agents or attorneys    Disclosure required by law (with notice)    Disclosure to affiliates for performance

PROPERTY FEATURES (VERIFICATION)

Unit Number:   Floor/Level:   Square Footage:

Bedrooms:   Bathrooms:   Year Built:

Heating/Cooling:

Appliances Included:

Flooring Type:   Balcony/Patio: Yes   If yes, details:

Parking Spaces Assigned:   Parking Type: Assigned Garage Street

Storage Unit Included:   If included, location/details:

Monthly HOA Fee: $   Special Assessments Outstanding:

INDEMNIFICATION AND LIMITATION OF LIABILITY

Each party shall indemnify and hold harmless the other from claims arising out of the indemnifying party’s negligence or willful misconduct in performance of this Agreement. Service Provider’s liability for any claim arising under this Agreement shall be limited to direct damages not exceeding the amount paid by Client under this Agreement in the twelve (12) months preceding the claim. In no event shall either party be liable for consequential, incidental or punitive damages.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to conflict of laws principles.

ENTIRE AGREEMENT

This Agreement, including all attachments and written modifications signed by both parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, representations or agreements, whether written or oral.

Any amendment to this Agreement must be in writing and signed by authorized representatives of both parties. Notices under this Agreement shall be given in writing to the addresses set forth above and shall be effective upon receipt.

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