Condo Deposit

Refundable Non-Contractual Reservation Agreement

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Agreement contract REFUNDABLE NON-CONTRACTUAL RESERVATION AGREEMENT (This Reservation is not an offer, contract, or option to purchase or sell) WARNING: THE CALIFORNIA DEPARTMENT OF REAL ESTATE HAS NOT QUALIFIED, INSPECTED OR EXAMINED THIS OFFERING, INCLUDING, BUT NOT LIMITED TO THE CONDITION OF TITLE, THE STATUS OF BLANKET LIENS ON THE PROJECT (IF ANY), ARRANGEMENTS TO ASSURE PROJECT COMPLETION, ESCROW PRACTICES, CONTROL OVER PROJECT MANAGEMENT, RACIALLY DISCRIMINATORY PRACTICES (IF ANY), OR THE AVAILABILITY OF WATER, SERVICES, UTILITIES, OR IMPROVEMENTS. IT MAY BE ADVISABLE FOR YOU TO CONSULT AN ATTORNEY OR OTHER KNOWLEDGEABLE PROFESSIONAL WHO IS FAMILIAR WITH REAL ESTATE AND DEVELOPMENT LAW IN THE STATE WHERE THIS SUBDIVISION IS SITUATED. The undersigned prospective purchaser (the "Prospective Purchaser") makes a deposit in the sum of $______________________________________ (the "Deposit") towards a Hotel-Condominium Unit at Grand Sierra Resort, which Deposit, upon full execution of a purchase and sale agreement for a Hotel-Condominium Unit (�Purchase Agreement�) by Prospective Purchaser will be applied toward the earnest money deposit required by the Purchase Agreement. The Deposit will be placed in an escrow account and Prospective Purchaser shall not be entitled to interest on the Deposit upon termination or application of Deposit in a future Purchase Agreement. Prospective Purchaser desires to reserve Hotel-Condominium Unit Number _______________ at Grand Sierra Resort. The approximate sales price for the Hotel-Condominium Unit selected is ________________________________________________________________. Prospective Purchaser understands and stipulates that the price for any Hotel-Condominium Unit will be determined at the time the Purchase Agreement is fully executed, and that the above-quoted price may change, and is not a guarantee of the ultimate sale price. Prior to full execution of a Purchase Agreement for a Hotel-Condominium Unit, either Prospective Purchaser or Grand Sierra Resort may terminate and withdraw from this Reservation Agreement for any reason. Prospective Purchaser shall have the right to an unqualified refund of the Deposit, without interest, upon written request. Prospective Purchaser represents and warrants that he/she: is not seeking to purchase the Hotel-Condominium Unit as an investment; no representations or guarantees have been made regarding rental or investment income; the decision to enter into this Agreement is not based upon projections concerning returns to participants in any rental program; the decision to enter into this Agreement is not based on estimates, sampling, statistical analysis or assumptions involving speculation, rental rates or expected occupancies of any Hotel-Condominium Unit; while you may have the opportunity to enter the Hotel-Condominium Unit into a rental program, there is no rental pool arrangement associated with the Hotel-Condominium Unit; and no representations have been made by Grand Sierra Resort or any of its agents as to any economic or tax benefits of any rental arrangement. All advertising, pricing information, promotional material, site plans, conceptual designs and portrayed improvements are preliminary in nature and subject to change by Developer without notice, NEED NOT BE BUILT, and if built may not be of the same type, shape, size, or nature as depicted. Prospective Purchaser represents and warrants to Developer that Prospective Purchaser has not consulted or dealt with any broker, salesperson, agent, or finder other than Developer's sales personnel. Developer has not agreed to pay any co-broker, and Prospective Purchaser represents that there is no co-broker who can claim by, through, or under Prospective Purchaser, nor has this Reservation Agreement been procured by any real estate broker, salesperson, agent, or finder other than Developer's sales personnel. We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, familial status, handicap or national origin. Download agreement as a pdf document.
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