Resident Reward Program

TERMS AND CONDITIONS OF SOLID ROCK REALTY (“SRR”) RESIDENT REWARD PROGRAM (“RRP”)

THESE TERMS AND CONDITIONS, ALONG WITH THE SSR RRP TERMS AND CONDITIONS, (“TERMS”) CONSTITUTE A BINDING AGREEMENT BETWEEN YOU AND US. PLEASE READ CAREFULLY THROUGH ALL SECTIONS OF THESE TERMS. YOUR ACCESS TO AND USE OF RRP IS SUBJECT TO THESE TERMS AND ALL APPLICABLE LAWS AND WE RESERVE THE RIGHT TO TERMINATE YOUR ACCESS TO THE APP AND WEBSITE IF YOU VIOLATE THESE TERMS. YOU AGREE TO THE TERMS OF THIS AGREEMENT WHETHER OR NOT YOU COMPLETE A TRANSACTION WITH OR USE SERVICES OF SRR RRP AND WHETHER OR NOT YOU COMPLETE YOUR TRANSACTION OR USE SERVICES ON THE WEBSITE OR THROUGH OTHER CHANNELS, SUCH AS BY

TELEPHONE, EMAIL, FACSIMILE OR OTHERWISE. THESE TERMS INCLUDE YOUR GRANTING US PERMISSION TO SHARE YOUR PERSONAL INFORMATION WITH THE SRR RRP LENDER NETWORK AND OTHERS AS DESCRIBED HEREIN. WE ENCOURAGE YOU TO READ OUR PRIVACY POLICY FOR MORE INFORMATION ON OUR SHARING PRACTICES. IF YOU DO NOT AGREE WITH THESE TERMS, DO NOT ACCESS OR OTHERWISE USE THE WEBSITE, ANY SERVICES AVAILABLE THROUGH THE WEBSITE, OR ANY INFORMATION CONTAINED ON THE WEBSITE.
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We may make changes to the content available on the SRR RRP at any time. We can change, update, add, or remove provisions of these Terms at any time by posting the updated Terms on the Website. We will make commercially reasonable efforts to notify you of any material changes to these Terms, however we are not obligated to. You waive any right you may have to receive specific notice of such changes to these Terms with the exception that we will not amend the arbitration clause without giving you notice and an opportunity to opt out of such provision. By using the SRR RRP after we have updated the Terms, you are agreeing to the then-current Terms. You are responsible for regularly reviewing these Terms.

In addition to these Terms, your use of certain Services may be governed by additional agreements.
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1. ACCESSING THE SRR RRP MATERIALS

We reserve the right to withdraw or amend the Website, and any Services or Materials we provide on the SRR RRP, in our sole discretion without notice. We will not be liable if, for any reason, all or any part of the SRR RRP is unavailable at any time or for any period.

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To access the SRR RRP, or some of the resources it offers, you may be asked to provide certain registration details or other information. It is a condition of your use of the SRR RRP that all the information you provide is correct, current, and complete, and that you have the authority to provide such information to us.
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To enroll in the SRR RRP, you must be a valid tenant of SRR and continue to be so during the home purchase process. You must treat such information as confidential, and you must not disclose it to any other person or entity. You also acknowledge that your account is personal to you and agree not to provide any other person with access to the SRR RRP using your username, password, or other security information, if any. You agree to notify us immediately of any unauthorized access to or use of your username or password or any other breach of security.

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We have the right to disable any username, password, or other identifier, if any, whether chosen by you or provided by us, at any time in our sole discretion for any reason, including if, in our opinion, you have violated any provision of these Terms.
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‍SRR RRP FEATURES

SRR reserves the right to add or discontinue any SRR RRP features at any time. Subject to the previous sentence, the following features are currently available SRR RRP.

SRR RESIDENT REWARD PROGRAM

a. Earning Resident Reward Program

By signing up as a SRR Tenant and continue to be so during the home purchase process, you will automatically be registered to earn RRP Rewards (“Rewards”), the name of which may be modified from time to time, over time by engaging with SRR. SRR may, in its sole discretion, determine the amount of Rewards to provide for each rewards-earning activity offered through the SRR RRP. Rewards associated with your account will be accounted for by SRR. Rewards are not redeemable for cash. Rewards have no monetary value outside of the SRR RRP and the mortgage lenders within its Lender Network (“Mortgage Lender”). Rewards may not be transferred. We have the right to change the earning structure of Rewards at any time without notice, including but not limited to the modification, limitation or discontinuation of methods of participation. Users should periodically check the Rewards Terms and Conditions for updates to the rewards program, including but not limited to eligible reward-earning activities. Rewards do not expire; however, there may be certain limitations on use, as described below. Rewards may be discontinued without notice at any time, consistent with provisions in the Disclaimer of Warranties section in the Terms and Conditions. Any accrued rewards after discontinuance may, but are not required to, be redeemed by Mortgage Lender.

Resident Reward Program

As a SRR RRP participant, you may earn Rewards for the following:

1. First time SRR Tenants will receive the value of $500 in Home Purchase Cash Rewards for signing a new Lease with SRR.

2. Every time that you pay your rent on or before the due date on the Lease, you will earn another 5% of the amount of rent paid that month in the equivalent value of Home Purchase Cash Rewards.

3. The maximum value of the Home Purchase Cash Rewards is 1% of the total amount of the qualified Loan that you use to purchase your home. For example, if the qualified purchase loan is $500,000 (after subtracting the down payment), you will only be able to use the value of $5,000.00, if available, of your Home Purchase Cash Reward dollars.

4. The only time under this RRP program that you will be able to utilize the value of your earned Home Purchase Cash Rewards is at the closing of the purchase of your home.

5. Your Home Purchase Cash Rewards will be listed on your Closing Disclosure and Settlement Statement as noted below.

How to redeem Home Purchase Cash Rewards:

The first requirement is that you utilize the representation of a current Solid Rock Realty Agent for the purchase of your home. In addition, you must use a SRR RRP participating Lender for the purchase financing of your home. A list of then current participating Lenders will be provided to you by your Agent. You must financially qualify and utilize an FHA, VA or Conventional loan per the then current Lender’s requirements with the participating Lender for the purchase of your home.

Upon fulfilling the then current requirements of the SRR RRP, your Lender will see that your Home Purchase Cash Rewards is properly applied as a Lender Credit.

How your Rewards will be used:

Your RRP Rewards will be used toward Closing Costs or, if permitted by Mortgage Lender, to “buy points” off the interest rate – redemption of such rewards may also be referred to as “Closing Cash.” “Closing Costs” means the costs required by Mortgage Lender to close a mortgage loan, as documented on page 2 of the Closing Disclosure (which will be provided by Mortgage Lender in advance of closing, consistent with 12 C.F.R. § 1026.38, as may be amended from time to time), sections A through C (and totaled in Section D), and any costs documented on page 2, section H of the Closing Disclosure which are required by Mortgage Lender. Closing Costs do not include your down payment. Closing Costs are limited to Borrower-Paid Closing Costs, as designated on the Closing Disclosure. Closing Costs may further be limited by any definition of closing costs applicable to your mortgage loan imposed on Mortgage Lender by an investor, or by the Federal or a State Government for a loan insured or guaranteed thereby, including but not limited to loans sold to FNMA or Freddie Mac, VA loans, or FHA loans. The amount of Rewards that may be redeemed may be subject to additional limitations required or otherwise set by each Mortgage Lender. SRR does not have control over the Mortgage Lender’s own requirements.

If one or more SRR customers are co-borrowers on a mortgage loan through Mortgage Lender, Mortgage Lender is only required to convert the Rewards points from the user with the highest Rewards point total. Mortgage Lender may, in its sole discretion, honor Rewards points from more than one SRR customer, but Mortgage Lender is under no obligation to do so. SRR plays no role in this determination.

SRR plays no role in, and assumes no liability for, determining the amount of Rewards points that may actually be redeemed by Mortgage Lender. SRR plays no role determining your eligibility for a mortgage loan – determination of your eligibility for a mortgage loan is a determination made in Mortgage Lender’s sole discretion. We do not warrant or make any representation that you will qualify for a mortgage loan by using our Services.

You are responsible for notifying Mortgage Lender that you have Rewards; SRR and Mortgage Lender disclaim all responsibility for, respectively, advising and becoming aware of such information. Mortgage Lender may choose to rely on a SRR Rewards point total provided by you directly from SRR; however, in this case, SRR makes no representation or warranty of any kind, to you or to Mortgage Lender, that the information you provided and Mortgage Lender relied upon is accurate. You assume full responsibility for your Rewards data shared with Mortgage Lender and not independently verified and certified to by SRR.

By your agreement to the Terms, you understand and acknowledge that Mortgage Lender and SRR have exchanged no fee, kickback, or other thing of value pursuant to this Agreement for SRR’s referral of your business to Mortgage Lender. You also acknowledge that when you seek a mortgage loan from Mortgage Lender, and Mortgage Lender redeems your Rewards points for a Lender Credit, neither Mortgage Lender nor SRR gives or receives anything of value, other than the fact that Mortgage Lender receives your business.

You understand that you are not under any obligation to use a participating Mortgage Lender; however, except as otherwise stated herein, using a Mortgage Lender is the only mechanism to redeem your Rewards. If you have Rewards remaining in your account after you purchase a home, those Rewards may not be transferred and may not be redeemed for cash. You acknowledge that Mortgage Lender may only offer certain loan types and you may not be eligible for some or all loan types. SRR has no discretion in the types of mortgage loans that Mortgage Lender may offer to you and plays no role in any determination as to which mortgage loans you are eligible for; accordingly, SRR makes no express or implied warranties with respect to mortgage loan types and disclaims all liability thereto appertaining.‍

MISCELLANEOUS PROVISIONS ‍

Severability. If any term or provision in these Terms is found to be void, against public policy, or unenforceable by a court of competent jurisdiction and such finding or order becomes final with all appeals exhausted, then the offending provision shall be deemed modified to the extent necessary to make it valid and enforceable. If the offending provision cannot be so modified, then the same shall be deemed stricken from these Terms in its entirety and the remainder of these Terms shall survive with the said offending provision eliminated. This paragraph does not apply to the arbitration clause.

‍Governing Law and Venue. These Terms shall be governed by and construed in accordance with the laws of the State of Colorado, excluding its conflicts of law rules, and the United States of America. Without waiving the foregoing arbitration clause, you agree that any dispute arising from or relating to the subject matter of these Terms including but not limited to if you opt out of the mandatory arbitration provision shall be governed by the exclusive jurisdiction and venue of the state and Federal courts of Denver, Colorado, except where the jurisdiction and venue are mandated by applicable Assignment. We may freely assign our obligations and rights under these Terms, including all Personal Information in our possession which we have collected during your participation in the SRR RRP.

Headings. Condition and section headings are for convenience of reference only and shall not affect the interpretation of these Terms.

Typographical Errors. Information on the documentation of SRR RRP may contain technical inaccuracies or typographical errors. We attempt to make the information as accurate as possible, but we do not warrant the content to be accurate, complete, reliable, current, or error-free.

QUESTIONS

If you have any questions or comments about these Terms or the SRR RRP, please contact us by email at info@solidrockre.com