REO LOE Document

REO LOE Document

This REO Letter of Engagement ("Agreement") is made as of between Client Name: (the "Client") and Service Provider Name: (the "Provider").

WHEREAS

WHEREAS, Client is the owner or servicer of the real property commonly known as (the "Property"), and holds or administers rights arising from Loan/Account No.: ;

WHEREAS, Client desires to engage Provider to perform services related to disposition, preservation, oversight, or documentation required for REO matters, and Provider represents it possesses the capability and experience to perform such services under the terms set forth herein.

SCOPE OF WORK

Provider shall perform the services described above in a commercially reasonable manner in accordance with applicable laws, ordinances, regulations, and industry standards. Provider shall maintain records of all work performed and shall provide periodic written reports to Client upon request.

PAYMENT TERMS

Invoices unpaid beyond the due date shall accrue a late fee equal to on the outstanding balance, or the maximum rate permitted by law, whichever is lower. All payments shall be applied first to fees, then to expenses, then to principal.

TERM AND TERMINATION

This Agreement shall commence on and shall continue until unless earlier terminated in accordance with this Section.

Either party may terminate this Agreement for convenience upon providing the other party written notice in accordance with the notice period set forth above. For material breach, the non-breaching party may terminate if the breaching party fails to cure the breach within 10 calendar days following written notice of the breach. Upon termination, Provider shall deliver to Client all work product, invoices for services performed through the termination date, and return any Client property.

CONFIDENTIALITY

Each party acknowledges that in connection with the performance of this Agreement it may receive Confidential Information of the other party. "Confidential Information" means non-public information disclosed in any form that is designated confidential or that, by its nature, should reasonably be understood to be confidential. Each party agrees (i) to hold Confidential Information in strict confidence, (ii) not to use Confidential Information except to perform obligations under this Agreement, and (iii) not to disclose Confidential Information to any third party except to employees, agents, or contractors on a need-to-know basis who are subject to confidentiality obligations no less protective than those herein.

INDEMNIFICATION AND LIMITATION OF LIABILITY

Provider agrees to indemnify and defend Client against third-party claims arising from Provider's gross negligence or willful misconduct in performing services under this Agreement. Except for willful misconduct or gross negligence, neither party shall be liable to the other for consequential, special, or punitive damages. The total aggregate liability of either party for any claim arising out of this Agreement shall not exceed the total fees paid to Provider under this Agreement for the specific services giving rise to the claim.

GOVERNING LAW

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

ENTIRE AGREEMENT

This Agreement, together with any exhibits or attachments expressly incorporated herein, constitutes the entire agreement between the parties with respect to the subject matter and supersedes all prior and contemporaneous negotiations, proposals, agreements, and understandings, whether written or oral. No amendment or waiver shall be effective unless in writing and signed by authorized representatives of both parties.

NOTICES

ADDITIONAL PROVISIONS

Any records, photographs, or reports produced by Provider in the performance of this Agreement shall be the property of Client upon payment in full, except where otherwise required by law or contract. Provider shall maintain appropriate insurance coverage and shall furnish certificates of insurance upon Client's request.

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