User and Agency Registration (RealtyAssist)

LMACOLLECT PAY LATER AGREEMENT

THIS DEED is made the  29th day of September  2021

BETWEEN

REALTY ASSIST AUSTRALIA PTY LTD (ACN 639 613 808) trading as LMACollect of 47 Hay Street, Subiaco, Western Australia (LMACollect);

AND

THE PARTY IDENTIFIED AS THE CLIENT IN THE SCHEDULE (Customer).

1.                 client and LMACOLLECT agreement

By entering this deed, the Customer and LMACollect agree to the following:

(a)              the Customer is the owner of the property that is identified in the Schedule (Property) and is seeking to rent/lease the Property to a third party lessee;

(b)              the Customer has engaged the agency identified in the Schedule (Agency), on an exclusive basis, to assist with the leasing the Property and to incur costs, on the Customer's behalf, for advertising and marketing, styling and staging, cleaning and pest control, minor repairs, safety, minor interior and/or exterior improvement and/or replacement of interior floor or wall coverings showing wear and tear (Services) in connection with the leasing of the Property;

(c)              the Agency has issued the Customer with an invoice for the Property Service Costs (Customer Invoice), the Customer has agreed to a ‘Pay Later' option in respect of the Customer Invoice and LMACollect has agreed to pay that invoice in the amount set out in the Schedule (Customer Invoice Debt) on the Customer's behalf in return for the Customer agreeing to pay the following fees (Fees) to the LMACollect:

(i)                 an upfront credit fee, in the amount set out in the Schedule, in return for LMACollect advancing the Agency the amount of the Customer Invoice Debt in payment of the Customer Invoice;

(ii)                one or more incremental interest fees on the outstanding amount of the Customer Invoice Debt at the rate set out in the Schedule; and

(iii)               the other fees and charges in respect of the Customer Invoice Debt as set out in the Schedule (including late fees and legal fees);

(d)              the Customer has agreed with LMA Collect to pay the Fees in respect of the Customer Invoice Debt in accordance with the terms of this deed;

(e)              the Customer agrees that the Customer Invoice Debt, the Fees and any other amounts provided for in this deed (Customer Outstanding Amount) are a debt owing to LMA Collect and the Customer must pay the Customer Outstanding Amount as follows:

(i)                 in the event that the Customer leases the Property (through the Agency or otherwise):

(A)              the Customer must immediately notify LMACollect; and

(B)               the Customer irrevocably authorises both LMACollect to collect, and the Agency (or the relevant settlement agent) to pay, all rental payments received in respect of the Property until such time that Customer Outstanding Amount has been repaid to LMA Collect in full; or

(ii)                otherwise on the due date set out in the Schedule (with late fees, interest and legal fees, on a full indemnity basis, payable in the event that payment is not made by the Customer in full on or before this date);

(f)                the Agency is responsible for booking and delivering the Services, and all other services relating to the lease of your Property and LMACollect does not have any control over and is not responsible for providing the Services.  To this end, any queries that the Customer has in relation to the Services should be raised directly with the Agency and not LMACollect;

(g)              LMACollect will, on request, provide a statement to the Customer of the amounts owing under this clause and elsewhere in this deed;

(h)              as security for payment of the Customer Outstanding Amount, the Customer hereby charges any present or future interest the Customer has in the Property (the Charge) and the Customer consents to LMACollect lodging a caveat over the Property, or registering any other security that LMACollect deems fit, for the Charge;

(i)                 if the Property is in Queensland, LMACollect may require the Customer to execute and deliver to LMACollect appropriate Queensland Land Registry documents to enable LMACollect to record, register or protect the Charge. The Customer irrevocably appoints LMACollect as the Customer's attorney to execute any such documents if the Customer fails to execute them with 7 days of our request.  The Customer also authorise third parties to act on a declaration or oath of the attorney as to any facts supporting the exercise of this power and to accept it as evidence of same; and

(j)                 the Customer agrees to the way in which LMACollect handles personal information of the Customer in accordance with its privacy policy on Realty Assist's website (as amended and updated from time to time).

2.                 notices and communications

(a)              All notices, statements, and reminders under this deed must be sent in writing (by post or email only).

(b)              The Customer must tell LMACollect promptly if its contact details change (including any changes to their phone number or email address).

(c)              LMACollect's contact details are set out on its website and other communications, or as notified to the Customer from time to time.

(d)              The Customer agrees to regularly check their nominated communication methods for correspondence from LMACollect.

(e)              The Customer must notify LMACollect immediately if they become unable to meet their payment obligations in this deed.

3.                 Representations, Warranties and claims

(a)              The Customer hereby confirms, represents and warrants to LMACollect that each of representations and warranties made by the Customer to LMACollect as set out below are true and correct in all respects:

(i)                 the information in clause 1 is true and correct and the Customer will strictly comply with the terms of clause 1;

(ii)                the Customer has the financial means to pay the Customer Outstanding Amount on the due date and understands its obligations under this deed;

(iii)               where the Customer is a natural person, the Customer is 18 years or over, has due authority to enter into this deed, fully understands its obligations in relation to this deed and had the opportunity to take professional advice prior to entering into this deed;

(iv)              the provision of finance to the Customer by LMACollect in accordance with this deed does not fall within the National Consumer Credit Protection Act 2009 because it is exempt and therefore LMA Collect is not legally required to observe the Act's responsible lending obligations, which include performing a credit check and verifying the Customer's income and ability to pay a debt back;

(v)               the Customer is not an undischarged bankrupt and has no reason to believe they may become insolvent at the time of executing this deed;

(vi)              the Customer will use any goods purchased under this agreement as they are intended to be used by the manufacturer, and not in any way which would be dangerous or cause harm; and

(vii)             the Customer has conducted their own due diligence on the Services and the suitability of the Services for the Customer's purposes.

(b)              In addition, the Customer indemnifies LMACollect against any liability, loss, cost, damage, expense or claim (including legal costs on a full indemnity basis) incurred or suffered by LMACollect as a direct or indirect result of a breach by the Customer of this deed.

(c)              The Customer agrees that LMACollect may set-off any amount owed by LMACollect under this deed against any amount owed to LMACollect under this deed, and that LMACollect's liability to make payment will be reduced by the extent of any such set-off.  For the avoidance of doubt, the Customer has no right of set off or other claim against LMACollect in relation to the Services or any other matter provided for in this deed.

(d)              The Customer agrees that LMACollect is not liable for loss caused by the exercise or attempted exercise of, failure to exercise, or delay in exercising, a right or remedy other than if we are negligent.

(e)              In the event the Customer is in default under this deed, the full amount of the Customer Outstanding Balance becomes immediately due and payable to LMACollect (without further notice).

4.                 withdrawal of property for Lease

In the event that either:

(a)              the exclusive contract entered into by the Customer with the Agency for leasing of the Property is terminated;

(b)              the Customer withdraws the Property from being available for lease;

(c)              the Property is destroyed or materially damaged by any event; or

(d)              the Customer no longer has the benefit or possession of the Property for any reason,

it does not impact the validity of, or otherwise vary, this deed (except as provided herein).  In this circumstance:

(e)              this deed will remain in full force and effect, and the Customer must continue to abide by its terms and conditions; and

(f)                the Customer must pay the Customer Outstanding Amount to LMACollect within 5 business days of the occurrence of the event outlined above.

5.                 Assignment

(a)              LMACollect may assign, novate, or otherwise deal with its rights under this deed and any document or agreement entered into or provided under this deed in any way we wish. LMACollect may disclose personal and credit information about the Customer in connection with any such dealing. The Customer must sign anything and do anything LMACollect reasonably requires for these purposes.

(b)              The Customer must not assign, novate, transfer, or deal with its rights or obligations under this deed.

6.                 Applicable law

This deed is governed by the laws of Western Australia, and the parties to submit to the jurisdiction of the courts and tribunals of that state.

7.                 complaints handling

LMACollect agrees to the following:

(a)              to conform with the Australian Standard AS ISO 10002-2006 Customer satisfaction – Guidelines for complaints handling in organizations (ISO 10002:2004 MOD) published by SAI Global Limited on 5 April 2006 (Standard) for handling complaints; and

(b)              if the Customer has a complaint and sends it in writing to LMACollect's Complaint's Manager (as detailed in our ‘Complaints Policy' published on Realty Assist's website), LMACollect will deal with the complaint in accordance with the Standard and the Complaints Policy.

8.                 counterparts

This deed may be signed by the parties in different counterparts and the signature pages combined to create a document binding on all parties. A transmission of an image of this deed showing a signature will have the same binding effect as an original bearing an original signature. No party may raise the use of a facsimile machine or other image transmission device or method or the fact that any signature was transmitted as an image as a defence to the enforcement of this deed.

9.                 time

Time is of the essence of this deed, it being understood that each date set forth herein and the obligations of the parties to be satisfied by such date have been the subject of specific negotiation by the parties.

 

 

Executed by the parties as a deed.

Name:

IP Address:

3.227.235.216

Latitude:

39.0481

Longtitude:

-77.4728

City:

Ashburn

State:

Virginia

Country:

United States


Schedule – LMA customer service agreement

Customer:

Agency:

LMA AGREEMENT

Property:

Approved Invoice #:

Effective Date:

29/09/2021

Due Date:

27/11/2021

 

1.                 Approved client InVoice

Invoice Date:

29/09/2021

Amount of Customer Invoice Debt:

$0.00

 

2.                 Fee Schedule

Amount of Customer Invoice Debt:

$0.00

Upfront Credit Fee (5% (including GST) of the face value of the Customer Invoice):

$0.00

Incremental Interest Charge (an additional charge equal to 3% on the Landlord Maintenance and Advertising Debt Amount charged on the 56th day):

$0.00

Outstanding Amount payable to LMACollect by the Customer if the Landlord Maintenance and Advertising Debt and other fees are paid on the Due Date (that date which is 56 days from the Effective Date).2

$0.00

Note:

1.            Interest on overdue amounts will be charged at a rate of 1.25% of the Customer Outstanding Amount payable every 30 days after the Due Date until such time that the Customer Outstanding Amount is paid to LMACollect in full.

2.            The date on which the Customer Invoice Debt and other fees are paid to LMACollect will vary the final Customer Outstanding Amount payable.  The above figure represents the Customer Outstanding Amount payable in the event the Customer pays this amount on the date set out above.  LMACollect recommends that, if paying the Customer Outstanding Amount on any day other than the date set out above, the Customer contacts LMACollect for an updated payout sum.

3.            The fees and interest payable to LMACollect will not exceed the maximum amount prescribed by Section 6(1) of Schedule 1 to the National Consumer Credit Protection Act 2009 (as at 1 November 2020 equal to 5% in credit fees and an annual interest rate of 24% per annum).