1. Engagement of Loan Officer
From time to time, the Loan Officer shall present the Company with opportunities to originate commercial loans with third parties. Loan Officer agrees that all loan applications shall be submitted to Ei8ht Street Funding, and all applicable Ei8ht Street Funding loan programs shall be handled through the Loan Officer and its employees. If required by applicable law, the Loan Officer and its employees offering or negotiating loan terms shall be licensed or registered in any relevant jurisdiction.
2. Submission of Loan Applications
Loan Officer shall submit each application to Ei8ht Street Funding using the appropriate loan documents and forms, as may be revised from time to time. Loan Officer acknowledges that it has no authority to bind Ei8ht Street Funding to any agreement. All activities carried out by the Loan Officer shall comply with applicable federal, state, and local laws, rules, and regulations.
### 3. No False Information
Loan Officer represents and warrants that no applications or related documents submitted contain false or misrepresented information. The Loan Officer will be responsible for all actions taken in connection with this Agreement, including those performed by employees, agents, licensees, or third parties. Loan Officer shall indemnify Ei8ht Street Funding and its officers, directors, and employees from any claims related to fraud in loan origination.
If Ei8ht Street Funding suspects any misrepresentation or fraud in the application process, it reserves the right to report such activity to relevant authorities and fraud databases. Loan Officer waives any claims against Ei8ht Street Funding for disclosing such information.
4. Compensation
Loan Officer shall receive fees or commissions related to loan transactions. Ei8ht Street Funding will directly release fees or commissions to the Loan Officer post closing of the loan and once all loan docs have been received and funds disbursed. Ei8ht Street Funding bears no responsibility for payment disputes between the Loan Officer and the borrower unless otherwise agreed in writing.
5. Termination
Ei8ht Street Funding may, at its sole discretion and with or without cause, terminate this Agreement at any time by providing written notice to the Loan Officer. Upon termination, all rights and responsibilities under this Agreement cease immediately.
6. Background Check
By signing this Agreement, the Loan Officer consents to a background check as part of Ei8ht Street Funding's application process and ongoing monitoring. The Loan Officer also agrees to conduct background checks on its employees and affirms that no employee is involved in litigation or regulatory action regarding fraud or misrepresentation.
7. Indemnification and Release
Loan Officer releases Ei8ht Street Funding, its subsidiaries, affiliates, officers, directors, and agents from any claims related to the use of this Agreement or the verification of information therein. The Loan Officer further indemnifies and agrees to defend Ei8ht Street Funding against any claims arising from the Loan Officer's activities under this Agreement.
8. Confidentiality and Ownership of Client Information**
Loan Officer acknowledges and agrees that all client information, including but not limited to technology contacts, property data, communication details, and any other proprietary information