This Acknowledgment is between the prospective buyer named below ("Buyer") and Rick Lahkar, a California licensed real estate broker affiliated with eXp Commercial ("Broker"), regarding a hospitality, event venue and lodging property in the Sierra Nevada foothills of Northern California, presented as the "Sierra Foothills Retreat" (the "Property"). The Property's name, address and details will be shared after this form is signed.
1. A Confidential, Private Sale
The owner of the Property ("Seller") has chosen to sell privately and confidentially to protect its business, employees, guests, booked events and vendor relationships. Buyer agrees to respect that choice.
2. Keeping Information Confidential
Everything Broker shares about the Property, including its name, address, financials, photos, bookings and the fact that it is for sale ("Information"), is confidential. Buyer will use the Information only to evaluate a possible purchase, will use the utmost discretion, and will share it only with its own attorneys, accountants, lenders and advisors who need it for that purpose and who agree to keep it confidential. Buyer will not post, publish or forward the Information to anyone else, and will return or delete it if Seller or Broker asks.
3. Site Visits by Appointment Only
Buyer will visit the Property only by prior appointment arranged with Rick Lahkar. Rick Lahkar will accompany all tours unless Seller authorizes its on-site managers in writing to conduct them. Buyer will not visit unannounced and will not contact Seller, its employees, guests or vendors directly. All questions and communications go through Broker.
4. Limited Information
Only limited information is available, and it is provided as received from Seller without any warranty of accuracy or completeness. Buyer will rely on its own inspections and due diligence. This form is not an offer or a contract to buy or sell; only a signed purchase agreement will create one.
5. Representation and Commission
Rick Lahkar represents Seller. Buyer may hire its own broker or attorney for representation. Any commission to Buyer's broker will be paid by Buyer, unless Seller agrees in writing to pay it. Alternatively, Buyer may elect to have Rick Lahkar also act as Buyer's broker for an additional fee of one percent (1%) of the purchase price, paid by Buyer. If Buyer so elects, the full compensation Rick Lahkar receives from both Seller and Buyer will be disclosed in writing to both parties, and the required agency disclosures and written consents will be signed by Seller and Buyer before any offer is made.
6. Duration
This Acknowledgment stays in effect for six (6) months from the date Buyer signs it, or until the Property is sold, whichever comes first.