DISCLAIMER AND ACKNOWLEDGMENT
By clicking “I Agree” and paying the US $2,000 fee (the “Set Aside Fee”), Prospect acknowledges and agrees as follows:
No Contract for Sale
The Set Aside Fee is paid solely to request a temporary reservation opportunity for a condominium unit. The Set Aside Fee does not constitute a contract for sale, does not convey any interest in real property, and does not obligate Prospect or Developer to enter into a purchase. Prospect recognizes that the temporary reservation opportunity is only an expression of Prospect’s interest in acquiring a condominium unit in the proposed condominium.
Developer Acceptance
A reservation request is not effective unless and until accepted by Developer in writing, which may be provided electronically, subject to applicable law. Developer may reject or cancel a reservation request in its sole discretion, including due to availability, compliance review, or administrative reasons. If a reservation request is not accepted, the Set Aside Fee shall be refunded in accordance with the Performance Period below.
Handling of Set Aside Fee
The Set Aside Fee is initially processed and held through Developer’s Stripe payment account for administrative and payment processing purposes for up to forty-eight (48) hours following payment. After such processing period, the Set Aside Fee is automatically transferred by the Developer to an independent escrow agent to be held in escrow pending either (i) mutual execution of a Purchase and Sale Agreement or (ii) expiration of the Performance Period described below. The Set Aside Fee is not a reservation deposit or purchase deposit under Florida condominium law and shall not be used for construction or development purposes.
Purchase Agreement Required
Any purchase of a condominium unit shall occur only pursuant to a written Purchase and Sale Agreement and the condominium documents required by Florida law, each as finally delivered and mutually executed by Prospect and Developer. All deposits, escrow terms, statutory rights, rescission rights, and refundability shall be governed exclusively by the Purchase and Sale Agreement and applicable Florida law. The Set Aside Fee does not create or modify any such rights.
Performance Period
Prospect shall execute and return the Purchase and Sale Agreement and all required accompanying documents within fifteen (15) calendar days following payment of the Set Aside Fee (the “Performance Period”). “Mutually executed” means signed by Prospect and countersigned by Developer. If the Purchase and Sale Agreement is not mutually executed within the Performance Period or if Prospect requests a refund of the Set Aside Fee in writing, the reservation request shall automatically expire and Developer shall initiate a refund of the Set Aside Fee to the original method of payment within ten (10) business days, subject to payment processor and banking timelines. No interest shall be payable on the Set Aside Fee. The liability of Developer hereunder is at all times strictly and solely limited to the return of the Set Aside Fee.
No Reliance on Marketing Materials
Prospect acknowledges that all renderings, floor plans, dimensions, square footages, pricing, features, amenities, specifications, and completion timelines are conceptual only, subject to change without notice, and do not constitute representations or warranties.
Statutory Disclosure
ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, REFERENCE MUST BE MADE TO THE FINAL PURCHASE AND SALE AGREEMENT AND THE CONDOMINIUM DOCUMENTS REQUIRED BY FLORIDA LAW.
Electronic Delivery and Signatures
Prospect consents to receive the Purchase and Sale Agreement, condominium documents, notices, and disclosures electronically, and to execute documents electronically, subject to the laws of the State of Florida.
Governing Law
This disclaimer and the reservation request shall be governed exclusively by the laws of the State of Florida.
Important Notice for New York Residents
The complete offering terms are in the CPS-12 application available from sponsor, Wynwood Rider, LLC. File No. CP25-0108.
ACKNOWLEDGMENT
Prospect acknowledges having read, understood, and agreed to the foregoing Disclaimer and Acknowledgment prior to submitting payment.
