Countryside Crossing Damage and Design Deposit Refund
Requirements for applying for the damage and design deposit refund will be dependent on which category the current resident falls into. Categories and requirements are as follows:
- Resident is original purchaser of lot
- The damage and design deposit can be filled out and submitted directly to firstname.lastname@example.org. The name of the applicant for deposit refund is to match the name provided for offer to purchase.
- Resident has purchased home from preferred builder (Irwin, K. Streu, Maric, Warkentin)
- The damage and design deposit must be filled out and submitted to the home builder. At this time, dependant on the original agreement between the builder and the developer, the builder shall submit refund request in writing to email@example.com with the refund form attached. If the deposit is to be provided to the resident direct, the builder must submit in writing, at that time, that the developer is authorized to provide the deposit to the resident.
- Resident has purchased lot from other party prior to completion of landscaping and/or has not applied for the damage deposit.
- The resident must ensure they are provided in writing from the prior resident that the damage deposit is to be provided to the current resident. If this has not been submitted to the developer with the damage and design deposit refund the funds cannot be released to current resident and will be held until either:
(a) Written proof of authorization of refund from prior resident is provided to developer.
(b) Request of refund is submitted from original purchaser/resident that matches the offer to purchase of lot.
If request of refund is submitted with the name of the original purchaser, the refund will be sent to the countryside crossing address that the refund is for. The refund will be made out to the original purchaser and it will be the responsibility of the current resident to make arrangements with original purchaser from that point forward.
All documentation is to be sent to firstname.lastname@example.org.
Failure to Comply With Damage and Design Controls
In addition to the Purchase Price, the Purchaser shall pay to the Developer, on the Possession Date, a damage and design control deposit in the sum of FIVE THOUSAND ($5,000.00) DOLLARS (the "Damage and Design Control Deposit") per Lot. The Damage and Design Control Deposit shall be held by the Developer in accordance to the terms of this Agreement. The Developer will perform a final inspection upon completion of the dwelling and landscaping on the lot. The said Deposit will be refunded to the Purchaser, when the Purchaser has completed all of its obligations as stipulated in Paragraphs 1.0 to 10.0 of Appendix "B" all to the satisfaction of the Developer (the "Refund Date"). In the event that the Purchaser does not comply with any covenants, requirements or obligations on the part of the Purchaser contained within this Agreement, then the Developer shall be entitled, but not obligated, to complete such items which have not been complied with, to such standard as the Developer in its sole and absolute discretion deems satisfactory and to apply the sum of FIVE THOUSAND ($5,000.00) DOLLARS to the cost thereof. For the purpose of this paragraph the dwelling constructed on the Lot shall be deemed to be completed if substantially completed within one (1) year of issuance of a building permit.
The Damage and Design Control Deposit (or the balance of such Deposit following such deductions there from as the Developer may be entitled to make pursuant to the provisions of this Agreement) shall be refunded, following the Refund Date, upon receipt by the Developer from the Purchaser (or if the Lot has been sold by the Purchaser, upon receipt by the then registered owner of the Lot) of a request for return of such Deposit provided that such written request is received within 36 months of the Possession Date. In the event the request is not received within such 36 month period, then the Damage and Design Control Deposit shall be forfeited to the Developer and the Purchaser (or any subsequent registered owner of the Lot) shall have no further right, entitlement or interest in or to the Damage and Design Control Deposit.
In the event that the Lot (with house) is sold and transferred prior to the Refund Date then the Damage and Design Control Deposit, (or the balance of such Deposit then remaining following such deductions there from as the Developer may be entitled to make pursuant to the provisions of this Agreement) shall be paid to the then current registered owner of the Lot. The Purchaser acknowledges and agrees that such payment shall satisfy all obligations of the Developer under this paragraph 6 and that
the Purchaser shall have no further claim or entitlement in respect of the Damage and Design Control Deposit. The Purchaser further acknowledges that any return of the Damage and Design Control Deposit shall take approximately one month.