CLOSING CREDITS TERMS AND CONDITIONS

By signing up for The Closing Cash Program ("The Program"), the user (“you”, “your” or “Participant”) accept and agree to the terms and conditions of this agreement (the “Agreement”) with Roost Enterprises, Inc., a Delaware corporation (“our”, “us”, “we”, “Roost”, and “Rhove”). The Program is designed to provide qualified individuals with an opportunity to obtain a commission rebate on the purchase of a new home that can be credited against real estate closings costs, including the down payment.

  1. Eligibility: In order to be eligible for The Program, you must have already signed up as a user and agree to Rhove’s Fiduciary Deposit Account Agreement, which can be found at https://rhove.com/fiduciary-deposit-account-agreement and all other Rhove terms. A complete list can be found last https://www.rhove.com/legal.  Further, in order to be eligible for the closing cost credit or real estate commission rebate credit outlined herein, you must use of one of our actively participating real estate brokerage or mortgage lender vendor partners, in your acquisition of a new home.  Our “Vendor Partner” list is available in the Rhove Mobile App, and is incorporated herein by reference.  We make no accommodations, warranties, or promises as to whether or not a vendor partner will be available to you in your state or local area.

  2. Terms of Service: The Terms of Service agreed to between you and Rhove through your use of our website and/or mobile applications are incorporated herein by reference. To the extent there is conflict between the Terms of Service and this Agreement, the Terms of Service shall control. You acknowledge reviewing the Terms of Service and policies referenced therein prior to executing this Agreement.

  3. Rent To Earn Program Agreement: The Rent To Earn Program Agreement (if applicable) agreed to between you and Rhove through your use of our website and/or mobile applications are incorporated herein by reference.  To the extent there is conflict between the Rent To Earn Agreement and this Agreement, the Rent To Earn Agreement shall control. You acknowledge reviewing the Rent To Earn Agreement prior to executing this Agreement.

  4. Fiduciary Deposit Account Agreement: The Fiduciary Deposit Account Agreement agreed to between you and Rhove through your use of Rhove’s website and/or mobile applications are incorporated herein by reference.  To the extent there is conflict between the Fiduciary Deposit Account Agreement and this Agreement, the Fiduciary Deposit Account Agreement shall control.  You acknowledge reviewing the said agreement prior to executing this Agreement.

  5. Home Purchase Credit: Home Purchase Credits are earned in monthly increments as an eligible participant every month that you make contributions to your Rhove Account under the account agreement. If you close on the purchase of a home and use a real estate agent as your buyer’s side agent from one of our real estate broker Vendor Partners, within 365 days after your last contribution deposit under Rhove’s Fiduciary Deposit Account Agreement, then you become a Qualified Homebuyer. As a Qualified Homebuyer, you can redeem your Home Purchase Credits to receive an equivalent amount of Buyer Rebate of Commission credits, not to exceed the lesser of fifteen percent (15%) of the commission payable to the Qualified Homebuyer’s real estate agent or two thousand dollars ($2,000) on the settlement statement at closing.  The Rebate of Commission credit is based on a standard 3% real estate agent commission. If for some reason the buyer’s agent commission is lower than the standard, the credit will be adjusted and lowered proportionally. Any such credit given is provided solely by the Vendor Partner, and is in no manner attributable to a discount or rebate provided by us, and we are not receiving any portion or compensation from the Vendor Partner related to such commission rebate.  Any commission rebate, and the corresponding credit on the Settlement Statement is subject to both federal lending and settlement laws, as well as the laws of the state in which the property is located, which may limit or affect the amount of, or the disclosure of, such credit.

  6. Home Loan Credit: Home Loan Credits are earned in monthly increments as an eligible participant every month that you make contributions to your Rhove Account under the account agreement. If you close on a purchase-money mortgage loan used to purchase a home by and through one of our mortgage lender Vendor Partners, within 365 days after your last contribution deposit under Rhove’s Fiduciary Deposit Account Agreement, then you become a Qualified Homebuyer. As a Qualified Homebuyer, you can redeem your Home Loan Credits to receive an equivalent amount of closing cost credits, not to exceed the lesser of one-half percent (0.5%) of the mortgage loan value or two thousand dollars ($2,000).  This credit applies towards loan-program qualified closing expenses, including escrow items for taxes and insurance, pre-paid expenses, home appraisal, and other customary costs associated with the mortgage or home closing.  Any such closing cost credit given is provided solely by the Vendor Partner, and is in no manner attributable to a discount or rebate provided by us, and we are not receiving any portion or compensation from the Vendor Partner related to such closing cost lender credit.  Any lender credit shown on the Settlement Statement is subject to both federal lending and settlement laws, as well as the laws of the state in which the property is located, which may limit or affect the amount of, or the disclosure of, such credit.

  7. Anti-Inducement: You acknowledge that the Home Purchase Credit or Home Loan Credit is not an inducement to have you enter into any specific real estate contract for the purchase of any particular home.  Each purchase contract offer, and each home considered for purchase, must be evaluated by you independently of such credit, and said credit doesn’t increase or decrease based on any contractual terms related to the purchase of a home.  You further understand that the Home Purchase Credit or Home Loan Credit is not provided by us, and therefore is not an inducement to choose any particular Vendor Partner.  You may choose whomever you want to provide your real estate brokerage or mortgage loan, and we are only notifying you that our Vendor Partners have agreed to offer you such a Credit, without receiving any compensation for any perceived referral.

  8. Commencement, Revision, and Termination: These Terms and Conditions for The Program are effective on April 1, 2019, and revised December 2019.  The Program may terminated or revised by us at any time, provided that we provide you written notice before the revision or cancellation shall take effect.  In the event The Program is terminated, any desired extension or honoring of a Home Purchase Credit or Home Loan Credit must be negotiated with the Vendor Partner, and is not our responsibility. 

  9. Fees: At this time, Rhove does not charge any services fees for the services it provides. However, we reserves the right to charge Service Fees at a later date by providing you with 30 days advance notice, and where such fees are allowed by law.

  10. Disclaimer: This Agreement shall in no way be construed as Rhove providing real estate agency or mortgage lending advice or counsel.  We are not a landlord, real estate broker, mortgage broker, mortgage lender, broker-dealer, investment advisor, escrow agent, or other licensed real estate service provider.   Any use of a real estate brokerage or mortgage lender that serves as a vendor participant under this Agreement is done so at Participants’ own risk, and we do not imply any warranty of quality, or satisfaction, or fitness for any particular purpose.  We are not vouching for the quality of services that you may experience when using a Vendor Partner.

  11. Customer Support and Complaints: If you have any questions about this Agreement, or need customer support, please contact us at hello@rhove.com or call us at 614-321-2421.

  12. Controlling Law and Jurisdiction

    1. Choice of Law: This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Ohio, and shall be interpreted in all respects as an Ohio contract. Any dispute, controversy, claim or action arising from or related this Agreement likewise shall be governed by the laws of Ohio, exclusive of choice-of-law principles.

    2. Arbitration: In the event of a dispute between the Parties arising out of or relating in any way to this Agreement, such dispute shall be submitted to the American Arbitration Association and shall be resolved by means of arbitration by a panel of three arbitrators.

      1. Arbitration shall be limited solely to deciding the merits of any controversy or dispute relating to the Agreement. Such arbitration shall be pursuant to the International Dispute Resolution Procedures of the American Arbitration Association and shall be conducted in Franklin County, Ohio, or such other location as the Parties may select by mutual agreement. The language of the arbitration shall be English.

      2. The arbitrators shall issue a reasoned award, and it shall be final and binding upon the Parties and not subject to further appeal. The arbitrators shall be empowered to award money damages but may not award consequential, incidental, exemplary or punitive damages or order specific performance.

      3. The Parties hereby consent to the nonexclusive jurisdiction of the state and federal courts of Franklin County, Ohio, United States, for the enforcement of any arbitration award.

    3. Class Action Waiver: You and Rhove agree that any party hereto may bring claims against the others only on an individual basis and not as a plaintiff or class member in any purported class or representative action or proceeding. No class arbitration is permitted, and no arbitrator may consolidate or join more than one person’s or party’s claims and may not otherwise preside over any form of a consolidated, representative, or class proceeding. Any relief awarded to any one Rhove user cannot and may not affect any other Rhove users.

  13. Amendments: This Agreement, as amended, changed or updated, constitute a binding contract between Rhove and you.  We will notify you of any amendments, changes or updates.  Your non-termination or continued use of the Services after the effective date of any amendments, changes, or updates constitutes your acceptance of the Agreement, as modified by such amendments, changes, or updates. You are responsible for regularly reviewing the Agreement. You can review the most current version of the Agreement at any time at https://rhove.com/closing-credits-terms-and-conditions.  If you do not wish to be bound by this Agreement, please do not access or use any part of the Site.