Cherrypick Holdings Property Term and Conditions

This explains the full terms and conditions for which Endurable Investments LLC, dba Cherrypick Holdings, (herein referred to as “Company”, “we”, or “us”) will repurchase Buyer’s eligible property as set forth herein (these terms hereinafter are referred to as “Property Terms”) along with the terms for the Rent Guarantee.

This also explains the full terms and conditions related to the condition of the Property, as the term is defined herein.

The following Property Terms supplement the Purchase Contract (as defined below), only as provided herein. In the event of any conflict between the Purchase Contract and these Property Terms and Conditions, the provision in the Purchase Contract shall prevail.

Guarantee Conditions

Guarantee Conditions

I. Definitions

As used herein, the following terms have the meanings and definitions described herein:

a. “Purchase Contract” means the contract executed by Endurable Investments, LLC, as the “Seller” and by you as the “Buyer”.

b. “Full Purchase Price,” or “Sales Price” shall have the same meaning as provided for and used in the Purchase Contract, as applicable, and shall be used interchangeably in these Property Terms.

c. “COE,” or “Closing Date” shall have the same meaning as provided for and used in the Purchase Contract, as applicable, and shall be used interchangeably in these Property Terms.

d. “Seller” shall have the same meaning as provided for and used in the Purchase Contract.

e. “Property,” or “Premises” shall have the same meaning as provided for and used in the Purchase Contract, as applicable, and shall be used interchangeably in these Property Terms.

f. “Buyer” shall mean any person, entity, agent, assignee, facilitator, intermediary or accommodator related to (a) the Buyer, as the term is defined in the Purchase Contract; or (b) any transaction involving the Property.

g. “Material Detrimental Change” shall have the meaning offset forth below in these Property Terms.

h. “Lease Agreement” means the contract executed between the Tenant and you as the Landlord

i. “Tenant” shall have the same meaning as provided for and used in the Lease Agreement.

j. “Landlord” shall mean any person, entity, agent, assignee, facilitator, intermediary or accommodator related to the Landlord, as the term is defined in the Lease Agreement.

k. “Monthly Rental Amount” or “Lease Amount/Rent Amount” shall have the same meaning as provided for in the Lease Agreement, as applicable, and shall be used interchangeably in these Property Terms.

l. “Lease Start Date” shall have the same meaning as provided for and used in the Lease Agreement.

m. “Default” shall occur under this agreement when, as defined by the lease between tenant and landlord, the tenant has breached the agreement by not paying as required, once the tenant has vacated whether or not voluntarily.

II. Changes to these Property Terms

We may update these Property Terms from time to time, and therefore recommend that you review them at the time the Purchase Agreement is executed. You will be bound by the version of the Property Terms in effect at the time the Purchase Agreement is executed.

III. Repurchase Guarantee Conditions

a. Our obligation to repurchase the Property pursuant to these Property Terms only arises if all of the following conditions are satisfied:

i. Buyer must send an email to [email protected] within thirty (30) days of COE or Closing Date, as applicable. The email must contain the following information, at a minimum:

1. The address of the Property.

2. The COE or Close Date, as applicable.

3. A statement that the Buyer is requesting that Seller repurchase the Property pursuant to the Cherrypick Holdings Guarantee because the property does not meet the needs of the Buyer.

ii. There is no Material Detrimental Change to the condition of the Property following the COE. “Material Detrimental Change” shall mean any change or changes to the Property subsequent to the COE, regardless of its cause, that, taken individually or together, materially impact the Property’s value or habitability, as determined in our reasonable, good faith sole discretion, including, but not limited to, non-minor damage to the Property, removal or modification of any major fixtures, impacts by acts of God, fire, flood, earthquake, war, epidemic, riot or terrorism, casualty loss, a housing market decline represented by a five (5) percent or greater annualized decline in the seasonally adjusted Case-Shiller Home Price Index for the region in which the Property is located measured over the most recent month for which the index is available, a stock market decline represented by a ten (10) percent or greater annualized decline in the Dow Jones Industrial Average measured over the thirty (30) days following COE, or in the event that the Buyer, or any parent company thereof, becomes insolvent or files for bankruptcy.

iii. We have not previously purchased any property from the Buyer pursuant to any Cherrypick Holdings Guarantee.

iv. All liens and monetary encumbrances are paid in full at the Cherrypick Holdings repurchase closing from sales proceeds.

v. Title to the Property has not changed from the COE and there is no dispute regarding title other than those disputes arising due to an act by Cherrypick Holdings.

vi. If the conditions in Section 3(a) are met and subject to such conditions, Cherrypick Holdings will repurchase the Property pursuant to these terms:

1. Cherrypick Holdings must be provided the right to re-market and re-sell the Property for you for 90 days from the date Cherrypick Holdings receives your notice of the dissatisfaction (“90 Day Resale Period”)

2. During the 90 day Resale Period you must maintain the Property in good working order and condition and pay the Property expenses as they become due.

3. At the end of the 90 Day Resale Period, you will be paid an amount equal to your Full Purchase Price minus a 2% Marketing Fee if Cherrypick Holdings is able to resell the Property at the Full Purchase Price. If Cherrypick Holdings is not able to resell the Property at the Full Purchase Price during the 90 day resale period, Cherrypick Holdings will purchase the property from buyer for the Full Purchase Price minus a 6% marketing fee.

IV. Rent Guarantee Conditions

a. Our obligation to guarantee rent payments for the Property pursuant to these Property Terms only arises if all of the following conditions are satisfied:

i. Buyer must send an email to [email protected] within thirty (30) days of Tenant Default. The email must contain the following information, at a minimum:

1. The address of the Property.

2. Date of Tenant vacating property.

3. A statement that the Landlord is requesting that Cherrypick Holdings to pay for lost rents pursuant to the Cherrypick Holdings Guarantee.

ii. There is no Material Detrimental Change to the condition of the Property following the Lease Start Date. “Material Detrimental Change” shall mean any change or changes to the Property subsequent to the Lease Start Date, regardless of its cause, that, taken individually or together, materially impact the Property’s value, rental value, or habitability, as determined in our reasonable, good faith sole discretion, including, but not limited to, non-minor damage to the Property, removal or modification of any major fixtures, impacts by acts of God, fire, flood, earthquake, war, epidemic, riot or terrorism, casualty loss, a housing market decline represented by a five (5) percent or greater annualized decline in the seasonally adjusted Case-Shiller Home Price Index for the region in which the Property is located measured over the most recent month for which the index is available, a stock market decline represented by a ten (10) percent or greater annualized decline in the Dow Jones Industrial Average measured over the thirty (30) days following COE, or in the event that the Landlord, or any parent company thereof, becomes insolvent or files for bankruptcy.

iii. If property is vacant at the Close of Escrow date when Landlord purchases the property, this agreement does not cover for rental losses on any properties purchased vacant. This agreement shall become in force once a Lease Agreement is signed for the property and the property is occupied by a Tenant.

iv. This agreement is for a unit that rents for a Monthly Rent Amount listed on the Lease Agreement. Any amounts paid by us to Landlord are based on the Monthly Rent Amount. No other losses incurred by Landlord shall be covered under this agreement.

v. This agreement shall be valid for a maximum period of 12 months from Lease Start Date (even if Lease Start Date was prior to Landlord purchasing the property), 12 months from Close of Escrow date when Landlord purchased the property, or until the lease expires, whichever shall come first.

vi. Payment Upon Default- We agree to pay Landlord, lost rents, in the event that the Tenant defaults under the terms of Tenants Lease Agreement according to the terms and conditions listed herein.

1. In the event that a Tenant defaults, we shall pay the rent on the Property Address & Unit Number until it is re-let, until the lease expires, or until our obligations expire under the terms of this Rental Guarantee, whichever shall occur first.

2. In the event of default, Landlord shall apply the balance of the security deposit not utilized for repairs, against our total obligation to Landlord, unless prohibited by law, and allow as an offset to payments owed by us. Should we reimburse Landlord for rent before security deposit funds become contractually available, then Landlord shall return the reminder to us in consideration of the obligation of Tenant directly to us.

3. Our obligation for payment to reimburse Landlord for lost rents under the terms of this Rent Guarantee, shall begin at the time of default and continue until the unit is re-let, until the lease expires, or until our obligations shall cease as otherwise stated in this Rent Guarantee, whichever shall occur first. Payment of the obligation shall occur on a retrospective basis, once the Unit is available for rent, on the market, has been listed or the listing has been published, and is actively being shown for rent to new tenants. The determination of ours shall be based on a good faith standard of Landlord’s commitment to re-let.

vii. Limitation of Liability- The maximum value of this contract is equal to Six (6) Months of the Monthly Rent Amount. Upon a Tenant Default with proper notice, we shall reimburse the Landlord the Monthly Rent Amount times the number of months the unit has not been re-let, up to a total of Six (6) Months.

viii. Condition Precedent. Compliance with the terms and conditions herein is a condition precedent of our obligation to pay.

ix. Notice of Default

1. Tenant Vacates Voluntarily- Landlord agrees to the following requirements in conjunction with defaults:

a. Landlord must notify us via email and unit must be back on the rental market no later than 10 days after the voluntary surrender (initial claim).

b. We reserve the right to inspect and verify vacancy of property.

c. Landlord must notify us, in writing, that the property is back on the rental market, has been listed for rent and is being shown.

d. We will ONLY pay amounts filed in accordance with the above conditions.

2. Notice of Default—Tenant Does Not Vacate Voluntarily. Landlord agrees to the following requirements in conjunction with default:

a. Landlord must notify us, in writing, that a default has occurred and unit is to be available for re-let no later than 10 days after the actual eviction (initial claim).

b. Landlord must notify us, in writing, once unlawful detainer has been filed. Landlord must copy us, in writing, with a filed and served (on Tenant) unlawful detainer action.

c. We will issue payment 10 days after a court has issued an unlawful detainer order requiring the Tenant to vacate the property.

d. We will ONLY pay claims filed in accordance with the above conditions.

x. Calculation of Payment to Landlords- Regardless of the situation under which a tenant may default, we will reimburse landlord for rents not paid by tenant during the term of the lease up to the Limitation of Liability until the unit is re-let, until the lease expires, until 12 months from Close of Escrow date when Landlord purchased the property or until our obligations otherwise cease, whichever shall come first. We will not begin disbursing payments to Landlord until the unit is back available to rent, has been listed for rent, i.e., published, and has been shown, unless a court has issued an unlawful detainer order requiring Tenant to vacate the Property, in which case payment will be made within 10 days after presentment of such order to us by Landlord.

xi. Situations When We Will Not Pay an Amount. If the following are to occur we shall not pay the Landlord:

1. IF LANDLORD ALLOWS TENANT TO TERMINATE A LEASE.

2. IF TENANT HAS NOT VACATED THE UNIT AND LANDLORD HAS TAKEN NO LEGAL ACTION TO EVICT.

3. IF LANDLORD HAS ALLOWED A SUB-LET OF THE UNIT.

4. IF THE LEASE EXTENDS BEYOND 12 CALENDAR MONTHS

a. This agreement is ONLY valid for 12 month residential leases, In the event that the lease is longer than 12 months, a new agreement must be executed after the initial term.

5. IF THE LANDLORD TERMINATES THE LEASE VOLUNTARILY OR WITHOUT CAUSE.

6. This agreement shall expire on the same day as the rental agreement with Tenant, but under no circumstances more than 12 months past the Start Date of this Lease Agreement.

7. This agreement is not renewable.

8. Tenant must have made a minimum of 3 monthly lease payments on time prior to default

xii. Representations & Covenants- As a condition to payment and a material obligation of us under this RENT GUARANTEE, the LANDLORD represents and covenants that:

1. The LANDLORD has investigated each TENANT’S application for a RENTAL in the same manner as it would for any other potential TENANT for a lease, and has independently determined that said TENANT does meet the LANDLORD qualifications for approval.

2. The form of lease that TENANT executes for the residence is the same form of lease executed by other tenants who were acceptable to Landlord without other measures to mitigate the risk of their non-performance.

3. The LANDLORD shall not cause or collude to cause a TENANT’S Default.

4. Each and every representation and covenant set forth herein shall remain true and correct, and shall be in full force and effect, during the term of the Rent Guarantee.

xiii. Non-Cumulative Rights of Company

1. Subrogation- Whenever we have made a Loss Payment under this agreement we will automatically have all rights of subrogation in regard to such loss payment. The LANDLORD will not act or omit to act to impair our right of subrogation in anyway.

2. Assignment of Judgment- In the event that the LANDLORD obtains a money judgment against a TENANT as a result of a TENANT’S Default, then such judgment will be deemed immediately and automatically assigned to us. We shall only have an absolute right to assignment of judgments up to the amounts paid to Landlord.

xiv. Fraud- we retain the right to investigate a Landlords demand for payment occurring because of a Tenant default. If we determine the demand by landlord is fraudulent, such payment shall be denied.

xv. Venue- At all times the contract shall be construed with the laws of the State of Nebraska and all parties agree that venue shall be proper and binding in any court therein.

xvi. Severability- If any portions of this contract are found to be void by a court of competent jurisdiction, said portions shall be struck, and the remainder shall remain in effect.

xvii. Captions. All paragraph captions are for reference only and shall not be considered in construing this Agreement.