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**PRIORITY CLUB AGREEMENT FOR INFORMATIONAL PURPOSES ONLY. NO SIGNATURE REQUIRED AT THIS TIME**The Highview at Searstone Retirement Community
Priority Club Agreement
THIS PRIORITY CLUB AGREEMENT (this “Agreement”) is made this _______ day of ___________________, 20______ (the “Effective Date”) between Samaritan Housing Foundation, Inc., a North Carolina not-for-profit corporation (the “Corporation”)
and ______________________________ and ______________________________ (“Applicant”). (If two persons sign this Agreement, the word “Applicant” shall apply to them jointly and severally.)
The Applicant has made a non-interest bearing, non-binding deposit in the amount of: Five Hundred Dollars ($500.00) – individual or couple (the “Priority Club Deposit”)
THEREFORE, in consideration of the foregoing, the Corporation and the Applicant agree as follows:
1. Upon notification when floor plans and pricing become available, Applicant will be requested to provide additional information in accordance with the Corporation’s standard admission procedures. Applicant’s priority position for selecting among the available apartment homes will be based upon the Effective Date.
2. The Corporation shall place the Priority Club Deposit in an escrow account with Branch Banking & Trust, Inc. The Priority Club Deposit constitutes a Non-Binding Reservation Agreement in accordance with applicable North Carolina statutes.
3. This Agreement may be terminated in writing at any time by either party and upon such termination the full Priority Club Deposit will be refunded to the Applicant within thirty (30) days of notice of termination.
4. Should the Applicant enter into a Binding Reservation Agreement with Searstone in the future, the Priority Club Deposit will be credited against the additional reservation deposit due at execution of such Binding Reservation Agreement.
5. Any notice to an Applicant shall be sufficiently given if mailed to the address given below or as Applicant may later advise the Corporation in writing. Notice to the Corporation shall be sufficiently given if mailed to:
Searstone Retirement Community |
Attn: Allie Ligay, Director of Marketing
17001 Searstone Drive
Cary, NC 27513
Or to such other address as the Corporation may later advise Applicant in writing. By checking this box you are agreeing to the terms of the above Priority Club Agreement.*
17001 Searstone Drive, Cary, NC 27513