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Last updated: September 15, 2020

This Agreement is between iHarmoni and Borrower. Borrower desires to obtain a loan to be secured by existing and/or new real estate investment properties. 



The term “Borrower” shall include all persons or entities affiliated with Borrower, including, but not limited to, investors, partners, shareholders and shareholders of partners or Borrower. 

iHarmoni (‘iHarmoni’) is a financial technology services provider that operates an independent market-neutral digital platform whereby financial institutions unaffiliated with iHarmoni may offer Borrower a loan for commercial real estate use or investment. Such loans may be funded by various institutional or private lender(s).

Lender is a financial institution that was selected by Borrower to provide a loan. Borrower selects Lender by notifying iHarmoni by email or by digitally selecting the lender on the iHarmoni platform.  

Borrower has applied to iHarmoni for the foregoing mentioned real property loan and, therefore, the Borrower and iHarmoni agree as follows: 


iHarmoni’s Exercise of Due Diligence: iHarmoni agrees to use their best efforts to exercise due diligence to obtain a loan satisfactory to Borrower from available lending institutions or private lending sources. iHarmoni has no authority to make promises, representations or warranties for lender(s) unless the terms are set forth in writing by the lender or digitally submitted to iHarmoni by lender(s). iHarmoni shall have no liability if it is unable to obtain a lender(s) willing and able to fund this loan. 

Borrower’s Representation and Warranties: Borrower represents that information furnished, is true, accurate and complete to the best of the Borrower’s knowledge and belief and no material information has been withheld. 

Borrower’s Agreement to Cooperate: Borrower agrees to cooperate with gathering and providing the necessary information and documentation for the lender(s) intending to make the loan. Borrower’s satisfaction with the loan terms shall be evidenced by Borrower’s written execution of the loan documents submitted to the lender(s) or lender’s designated agent(s).

Borrower’s Authority: Borrower hereby grants to iHarmoni the exclusive right to obtain a loan for the submitted property commencing upon the Effective Date of this agreement. iHarmoni will obtain contingent approval of said loan within 30 days of the borrower submitting a complete application and the requested documentation. If iHarmoni is unable to obtain a contingent approval within 30 days, this exclusive right is terminated. 


Borrower Agrees to Pay Commissions and Fees for Services Rendered: The borrower agrees to pay a 1.0% loan auction fee to iHarmoni for its services to obtain a loan for the borrower. The loan auction fee is based upon the final loan amount and paid at loan settlement as part of the normal and ordinary loan closing fees. The minimum fee is $2,500. 

Third Party Fees: Borrower agrees to pay third-party fees required by the lender related to this loan request. 

Borrower’s Instructions to Escrow Holder: This Agreement is the Borrower’s written authorization to the lender’s escrow holder and/or closing agent. The Borrower directs the escrow holder and/or closing agent to pay all fees due to iHarmoni directly from the proceeds of this loan at closing. 

Non-Circumvention: Borrower agrees and covenants that he/she will not directly or individually or in conjunction with any person, company, partnership or corporation solicit, promote, consent or contact the lender(s) introduced by iHarmoni or its assignee with respect to other requests except by written consent by iHarmoni or its successors/assignee. 

Effective Date and Binding upon Parties: This Agreement is to be effective as of the date of acceptance by iHarmoni, evidenced by the signature of the authorized representative. This Agreement shall constitute a binding obligation between the parties and their successors and assignees to the extent the duties and obligations are assignable. 

Borrower Instructed to Obtain Professional Advice: The borrower acknowledges he/she/they have been instructed to obtain professional advice for legal, tax or any financial planning purpose related to this agreement and the Borrower’s loan. 

Time is of the Essence: Time is of the essence for the performance of each and every covenant and the satisfaction of each and every condition contained in this Agreement.  

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