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So I get a CFK deal (and b4 anyones says anything about deserving one, you're right I don't but if they are offering....) and the lender sends me a document to sign.
Here are some brief "terms and conditions"
"Occupant shall hold Owner, it's representatives, servicers, agents, successors and assigns harmless from an and all laibility, loss, cost or expense, including reasonable attorney's fees,a rising out of and/or in connection with the property."
So I'm supposed to pay the 'owners' costs, etc if they are sued? Teah right!
"Occupant understnads that Owner will continue the eviction action throughout the Occupant's occupancy, but will not schedule a "lockout" date SO long as Occupant complies with the terms and conditions of this Agreement. Upon the breach of any term, condition or provision of this Agreement, Owncr may, without notice to Occupant, seek the removal of Occupant from the Property, and Occupant consents to such action and waives any and all rights to notice of such action or to object to such aclion and agrees to pay Owncr's costs including reasonable anomey's fees incurred in connection with any such action."
Ok so they are continuing the eviction process. Whoopdedoo but if I sign this then the 'owner' can come back for any expenses already accrued? WOW!
"During the term of this Agreement, Occupant shall bear full responsibility for all personal poperty kept at the property and shall further bear all risk of any loss or damage caused to such personal poperty regardless of cost."
Again, WOW. I move out and I am responsible if someone breaks in, strips all the copper wiring, etc. Hell NO!
"Occupant shall hold Owner, it's representatives, servicers, agents, successors and assigns harmless from an and all laibility, loss, cost or expense, including reasonable attorney's fees arising out of and/or in connection with Occupant's use of the Property, and further, shall defend Owner in any such action in which it is named a Defandant which relates to the Property."
SO NOW i am supposed to "defend" my former lender and pay for their potential costs? HOLY SHYTE!
Okay my lender's REO agent says that this is standard industry language. NOT! Anyone want to take a stab at why a lender is asking for this?
Last edited by davehalo; 08-28-2011 at 01:12 PM..
Reason: to much gunk
Immediately upon move out, Occupant agrees to deliver the keys to the designated real estate broker
located at
phone
Owner will pay to the Occupant a total of $
representing relocation assistance upon the
Occupant vacating the Property on or before the Vacancy Date, provided Occupant has returned the keys and the Property (including all fixtures, facilities and appliances) is left in the same condition as it was on the date of this Agreement, ordinary wear and tear excepted.
Occupant agrees to leave the Property in "broom swept" condition when vacating the premises, including the removal of all trash and debris. In the event there is damage caused by Occupant between the date of this Agreement and the date Occupant vacates the Property, or if Occupant leaves trash and debris, the cost of repairing or replacing any fixtures or property removed from the Property, or the removal of trash and debris will be deducted from the agreed relocation assistance amount.
Occupant understands that Owner may continue the eviction action throughout the Occupant's occupancy, if permitted under applicable law, but will not schedule a "lockout" date so long as Occupant complies with the terms and conditions of this Agreement.
During the term of this Agreement, Occupant shall bear full responsibility for all personal property kept at the Property and shall further bear all risk of any loss or damage caused to such personal property, regardless of cost.
On or before the Vacancy Date, Occupant shall have removed all personal property from the Property, and any items remaining after the Vacancy Date shall become the property of the Owner.
Throughout the period Occupant occupies the Property, Occupant shall, at his/her own expense, maintain and care for the Property, keep the lawn and other plantings trimmed, keep the Property free of debris, and use the Property in accordance with all applicable governmental codes and regulations, and shall, at personal expense, pay for all utility service at the Property. Exclusions to this provision include the pool, pool equipment and lawn.
Occupant understands and acknowledges that this Agreement does not create a leasehold interest or a landlord/tenant relationship with Owner
This Agreement shall constitute the entire Agreement between the parties, and no changes to it shall be valid and enforceable, except by supplemental agreement in writing, signed by all parties to this Agreement.
You might want to put your hand in your pocket for once and get an attorney. They would at least tell you that your interpretation of this document is why they went to law school and you didn't.
Exactly. Most of that is pretty standard verbiage for any contract of this sort (and some other sorts, as well). Their attorneys likely won't let them sign the one YOU wrote.
They won't agree to the removal of the indemnity clause (ie hold harmless, etc). Shoot you sign up for Facebook and they have an indemnity clause for their TOS.
the lender's REO agent said what my lender sent over is standard industry language. so i googled "relocation assistance agreement" and then narrowed it down by ".doc" and ".pdf" file types only.
none of the documents I pulled up had the "hold harmless" clauses nor did they have any terms, conditions, etc, etc where I would pay for their "legal fees", court costs, other expenses, etc.
nor did any of the documents require me to sign away my legal rights (if I actually chose to stay in the property, which i'm not) to receive notice of eviction or to respond.
hire an attorney? is that the best/only response people have?
not all attorneys are equally proficient, smart, etc, etc and does it really take an attorney to interpret what is written?
WOW, if that's the case, then I definitely do not want to sign as the "ambiguity" in language is where you get tied up in courts and attorneys make money.
POINT is, what the lender gave is not "standard" industry langauge. What it is, is their attempt to CYA themselves and potential stick me with additional charges.
If you have read any earlier posts, you might also realize that this same lender tried to get me to sign a non-disclosure agreement with liquidated damages penalties ($50k) if I spoke to ANYONE about the work-out loan program into which I and the lender would be entering. Yeah, I used a free legal service (3 times over a month and three different firms)...guess what...all of them asked "did you sign it?" and then they expressed great relief when I said no.
what i am working with...as i think many americans are....are inept, greedy (insert your adjective) financial people/institutions.
good luck to them...I've made it very clear that i will be out but the room-mate is staying. see renters have more rights to stay than i do as the previous "homeowner"
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