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Hunt Club Meadows |
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Deposit Agreement Hunt Club Meadows LLC Deposit Receipt and Agreement
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Developer: Hunt Club Meadows LLC
Depositor: Name:_________________________________________________________________________ Address: ______________________________________________________________________ ______________________________________________________________________________ Telephone: ____________________________________________________________________ Date: ______________________ Lot No.: _______________ Lot Price: ______________ The Depositor shall make the Deposits and the Developer shall accept the Deposits with the following understanding and under the following terms: 1. Attached hereto is a subdivision plan for the proposed Hunt Club Meadows Subdivision in Homer Glen, Illinois. (the "Subdivision") The Subdivision will be subject to a Declaration of Covenants, Easements and Restrictions (the "Declaration") which will establish a homeowner's association, annual assessments, and architectural controls. 2. The Depositor hereby makes deposit as follows:
3. The Developer shall promptly refund the Deposits in full to the Depositor if, for any reason, the Depositor delivers a written request for a refund to the Developer. Likewise, the Deposits may be returned by Developer to the Depositor at any time and for any reason. Upon return of the Deposits, this agreement shall be deemed canceled, except the provisions of paragraph 4, 5 and 6 shall remain if force. 4. The Depositor shall not record this agreement or any other instrument against the Subdivision or any portion thereof. 5. In the event that the Depositor breaches this agreement, the Depositor shall be liable the Developer for any damages incurred by the Developer as a result of said breach, together with the Developer's reasonable attorney's fees and costs incurred to enforce or defend the terms of this agreement. 6. This Agreement shall not: (a) grant the Depositor any right, legal or equitable, to the Lot, or (b) require either the Developer or the Depositor to enter into a binding contract for the purchase and sale of the Lot, or (c) entitle the Depositor to any remedy against the Developer except the return of the Deposits, as provided herein. Hunt Club Meadows LLC Depositor: By: ___________________________
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