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(You will get a copy of this agreement after you submit your request)
CHARMONT
Loxley, Alabama
AGREEMENT
Fully Refundable Reservation Fee: $5000
- Reservation Priority. Each Prospective Purchaser shall be assigned a lot number (including a pre-determined home elevation, floor plan and color scheme that have been assigned to that lot number by the Developer, all of which shall be of equivalent value). Developer will solicit similar reservation agreements from other Prospective Purchasers. Developer may take as many reservations as Developer deems appropriate in its sole discretion and assign lots in the order that reservation deposits are received.
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- Reservation Fee. The reservation fee shall be held by (or deposited into the escrow account of) Middle Bay Title. The reservation fee of $5000.00 should be made payable to "Middle Bay Title" and mailed with a signed copy of the reservation form to:
Middle Bay Title
8158 State Highway 59, Suite 210
Foley, AL 36535
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- Not a Sale. By execution of this Reservation Agreement, the Prospective Purchaser shall not obtain any interest in the property. This agreement is not a final contract for the sale of real estate. Prospective Purchaser may at any time request that the fee be returned, in which case the fee shall be promptly returned and no party (Developer or Prospective Purchaser) shall have any further liability to each other under this agreement.
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- Obligation. The Prospective Purchaser has no obligation under this agreement unless and until the Prospective Purchaser enters into a Contract to Purchase. In such event, the terms and conditions of the Contract to Purchase shall supersede the terms and conditions of this agreement and this agreement shall terminate and be of no further force or effect.
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- Process. The reservation fee will reserve the prospective purchaser’s home site and home until the Prospective Purchaser enters into a Contract to Purchase or opts not to enter into such a Contract. Upon signing a Contract to Purchase, Title will transfer the reservation fee to the Developer and it will become nonrefundable.
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- Termination. This reservation agreement may be terminated (and all monies paid under this agreement returned to Prospective Purchaser) upon the happening of any of the following:
- The Prospective Purchaser mails to the Developer a written request for refund, signed by the prospective purchaser. The written request should be Sent to:
Motes Construction & Development, Inc.
8158 State Hwy 59
Suite 107
Foley, AL 36535
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- The Prospective Purchaser does not enter into a written Contract to Purchase
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- The Contract to Purchase is rejected by the Seller for any reason.
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- Transfer or Assignment. The rights of the Prospective Purchaser hereunder may not be transferred or assigned without the expressed written consent of the Developer, which consent may be withheld for any reason. Any attempt to transfer or assign this agreement prior to such written approval shall automatically terminate this agreement and the Prospective Purchaser shall have no further rights here under other than the return of any deposits previously made.
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- Non-Representation. Maverick Investor Group, LLC (“Maverick”) does not represent the Prospective Purchaser in any capacity and has made no statements, promises or representations regarding the real property. Nor does Maverick represent the Seller in any capacity. Maverick's only role has been to refer Prospective Purchaser to the Seller. Prospective Purchaser agrees to indemnify, defend and hold Maverick harmless from all claims, damages, costs, etc. (including attorneys fees) relating to any real property transaction between Seller and Buyer.
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