Security And Rights
________________________________________________________________________________________
| AQUA Property Group Inc. South Cape Business Center | 3208 Chiquita Blvd South, Suite 215 Cape Coral, Fl 33914 Dir: (239) 549-9686 | Fax: (888) 317-8712 | email: jdeluca.apg@gmail.com Marie A. Marro: Broker / Owner Angelo Cario: Owner Joseph Deluca: Broker Associate/ Licensed Community Association Mgr 2013 All Rights Reserved |
_________________________________________________________________________________________________________
Our goal is... to increase The Financial Wealth of our clientele.
Once a property has been selected, the Private Lender will sign the preference
sheet confirming that choice. Then deliver the confirmation letter to the
Group along with a check for the indicated amount payable to the Title
Company. This action will trigger the following:
Promissory Note: The Title Company will issue a receipt known as a promissory
note as security for the funds supplied by the Private Lender. This note includes
the terms, conditions, duration of the loan and the exit strategy.
Terms: The Private Lender agrees to leave the loaned funds in the deal a
minimum of 3 years. The Group agrees to pay the Lender 8% annual interest
monthly upon the commencement of a lease.
Terminate Loan: The Private Lender may terminate and call the loan for
non-payment of delinquency of 45 days. This is an intentional buffer in case of
mail delivery issues.
Deed of Trust: The Title Company will record a Deed of Trust as a public record
showing that the Lender has a secured interest in the property.
Participation: The Private Lender will share in the actual net gain and receive
25% of that gain at the closing from the sale of the investment property.
Business plan
Exit Strategy: The Group will offer the property for sale at its discretion on or
before ten years depending on values and market conditions to maximize
gain. The Lender will receive the principle amount of the loan plus 25% of the
net gain at the closing.
What if I want/need to get out?
Voluntary Termination: The Private Lender may with written notification advise
the Group that the Lender wishes to terminate the lending relationship prior to
36 months under conditions. The Group will make every effort to replace the
original lender with another but bares no penalty because of it. The lender
knowingly gives up the right of participation in the exit strategy.
Rollover: After 60 months, APG retains the right to not sell a property. In the
event this option is exercised, the Lender will have the option of continuation
for another specified term or be taken out of the deal fully vested in the net
gain determined by independent appraisal minus reasonable anticipated
expenses.
