CONSULTING FEE AGREEMENT
…………………………………. LLC. (hereinafter referred to as the "Client").
WHEREAS, the Client wishes to engage the Consultants to provide the services described herein and Consultants agrees to provide the services for the compensation and otherwise in accordance with the terms and conditions contained in this Agreement,
NOW THEREFORE, in consideration of the foregoing,and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, accepted and agreed to, the Client and the Consultants, intending to be legally bound, agree to the terms set forth below.
1. TERM. Commencing as of the Effective Date, and continuing for a period of seven years (the “Term”), unless earlier terminated pursuant to Article 4 hereof,the Consultants agree that they will serve as a consultants to the Client. This Agreement may be renewed or extended for any period as may be agreed by the parties.
1a) A processing and due diligence fees of US$150,000.00 is requested up front in order to start the loan process.
2. DUTIES AND SERVICES.
(a) Consultant's duties and responsibilities shall be as follows(collectively, the “Duties” or “Services”):
mount of the loan is US$150 Millions and the duration as agreed by Client and the lender .
1a) The loan to value will be 85% and client has to put the 15% down in consultant’s escrow account .
2. Ensure the fee’s for said loan are the most economical and are in the best interest of Client.3. Fully review, research and discuss all documents pertaining to the application, underwriting, closing and funding of said transaction as well as being present at the signing and disbursement.
4. Work directly with all compliance officers and bank officials to ensure the transaction is satisfactory to all parties and protects the assets/interests of all parties prior toentering into contractual agreements.
5. Work expressly with Client as to their referral and provide weekly updates for Client so as Client may therefore update their referral.
(b) Consultants agree that during the Term he will devote the required days per month to his Duties. The Client will periodically provide the Consultants with a schedule of the requested hours,responsibilities and deliverables for the applicable period of time. The Duties will be scheduled on an as-needed basis.
(c) The Consultants represent and warrant to the Client that they are under no contractual or other restrictions or obligations which are inconsistent with the execution of this Agreement, or which will interfere with the performance of their Duties. Consultants represent and warrantthat the execution and performance of this Agreement will not violate any policies or procedures of any other person or entity for which he/she performs Services concurrently with those performed herein.
(d) In performing the Services, Consultants shall comply, to the best of their knowledge, with all business conduct, regulatory and health and safety guidelines established by the Client forany governmental authority with respect to the Client’s business.
3. CONSULTING FEE.
(a) Subject to the provisions hereof, the Client shall pay Consultants a 7.5% COMPENSATION FEE of the loan value via wire transfer to Consultants designated bank account . Client is instructing lender to pay Consultants immediately and simultaneously to Client’s funding and out of Client’s proceeds.
(b)Consultants shall be entitled to prompt reimbursement for all pre-approved expenses incurred in the performance of his Duties, upon submission and approval of written statements and receipts in accordance with the then regular procedures of the Client.
(c) The Consultants agree that all Services will be rendered by them as an independent contractor and that this Agreement does not create an...
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