REEF Network and Property Access Service Terms
Last Updated: 2022-08-15
The “REEF Network” is an optional REEF Marketplace service that allows you to submit Property for consideration for additional services, activities, and uses (collectively, “Applications”).
These “REEF Network and Property Access Service Terms” are Service Terms that form part of the REEF Marketplace Agreement, but unless specifically provided otherwise, concern and apply only to your participation in the REEF Network. BY SUBMITTING PROPERTY FOR CONSIDERATION TO REEF AS PART OF THE REEF NETWORK OR USING THE REEF NETWORK, PARTICIPANT AGREES TO BE BOUND BY THE REEF MARKETPLACE AGREEMENT, INCLUDING THESE REEF NETWORK SERVICE TERMS. Any capitalized term not otherwise defined herein has the meaning given to it in the REEF Marketplace Agreement.
- REEF Network Generally. By submitting any of your properties (whether through the REEF Marketplace, email, or otherwise) to REEF (a “Submission”) for consideration for Applications (each, a “Property” and collectively, the “Properties”), you agree that: (1) the Properties will become part of the REEF Network; (2) REEF may market the Properties to other participants in the REEF Marketplace, including by providing information (i) about the Properties and (ii) that you submit; (3) REEF may contact you at any time to suggest Applications for the Properties and send you marketing materials about REEF’s products, services, and partners; (4) you only will only submit Properties that you own or operate; (5) you have all necessary rights and authorizations to submit such Properties to REEF Network; and (6) you will not submit any material or content that violates the intellectual property or proprietary rights of any third party.
- Access to Participant’s Properties. During the Access Period of any Property, you agree that you will allow REEF, its Affiliates, its and their employees, agents, prospective lenders, prospective subtenants or users, investors, architects, engineers, attorneys, contractors, and representatives (collectively, “REEF’s Representatives”) at reasonable times during normal business hours upon two (2) business days’ prior notice (via contact information you provide) to enter upon the Property (i) for the purpose of performing surveys, inspections, and any other tests, examinations, or studies which REEF may reasonably deem necessary or desirable and (ii) to generally inspect the Property (collectively, (i) and (ii), the “Inspections”). REEF will be solely responsible for its costs and expenses of any Inspections. REEF will promptly restore the Property to its condition immediately prior to such Inspection.
- Access Period. The “Access Period” of a Property starts with its date of Submission and ends upon two business days following REEF’s receipt of your written notice to withdraw such Property from REEF Network.
- REEF’s Obligations. In connection with any Inspections, REEF (i) will be solely responsible for its costs and expenses of any Inspections, (ii) agrees no Inspections will involve invasive or destructive testing of the Property or any addition or alteration of the improvements on the Property (or any portion thereof) except with your prior consent, (iii) will promptly restore the Property to its condition immediately prior to such Inspection, (iv) will not unreasonably interfere with the use, occupancy, management, maintenance, or operation of the Property or surrounding area, and (v) agrees you may have a representative present during all Inspections undertaken hereunder.
- Indemnification by REEF. REEF will defend, indemnify, and hold harmless Participant and its employees, officers, and directors against any Losses in connection with any third-party Claim arising from or in connection with: personal injury or death or damage to personal property during any Inspections to the extent resulting from the negligence or willful misconduct of REEF’s Representatives. Notwithstanding anything to the contrary, REEF will not be liable for Losses resulting from discovery or disclosure to you or others of the results of any Inspections. REEF’s aggregate liability in connection with this section will not exceed One Million US Dollars ($1,000,000).