NO PURCHASE IS NECESSARY TO WIN. MAKING A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. VOID WHERE PROHIBITED BY LAW. Participation in the Contest constitutes full and unconditional agreement to and acceptance of these Official Rules, which are final and binding. In addition, by your application in the Contest you hereby agree to accept the decisions of Sponsor in connection with the Contestand Sponsor’s interpretation and application of these Official Rules. Winning is contingent on fulfilling all requirements set forth herein.
SPONSOR: The “Sponsor” of the Contest is Easy Street Capital located at 201 W. 5th St., Suite 1100 Austin, TX 78701.
WHO MAY ENTER: You may enter the Contest if (A) you are a legal resident of Texas, (B) you are at least twenty-one (21) years of age or older at time of entry and (C) you timely complete the online application within the Entry Period set forth below (each an “Entrant”). Employees of the Sponsor, as well as their immediate family members (spouse, parents, siblings, and children) and household members of each such employee, are not eligible. This Contest is subject to all applicable federal, state and local laws and regulations.
ENTRY PERIOD: The Entry Period begins at 12:01 a.m. Central Standard Time June 10, 2019 and ends at 11:59 p.m. Central Standard Time August 10, 2019. The Winner will be contacted on, or around, September 1, 2019.
HOW TO ENTER: To enter the Contest, Entrants must fully and timely complete and submit the online application on EasyStreetCap.com. By entering the Contest, each Entrant consents to Sponsor’s use of their name, phone number, street address and e-mail address for all legitimate business purposes in perpetuity including advertising and promotional activities without additional compensation unless prohibited by law.
ODDS OF WINNING:. The winner will be chosen at the discretion of Easy Street Capital.
HOW TO WIN: There will be one (1) Grand Prize Winner (“Winner”). The Winner will be notified by email, phone, or Facebook direct message on or about September 1, 2019. Decisions of the Sponsor are final.
PRIZE: Subject to the disclaimer below, the winner will be the recipient of a “cost-free” loan in a principal amount not to exceed $350,000, through Sponsor’s fix and flip loan program (“Loan”) related to the acquisition and development of a “qualified property”. As used herein, a “cost-free” loan shall mean that the Winner, in its capacity as the “borrower” under the Loan, will not be responsible for the payment of (a) any origination fees associated with the initial funding of the Loan, (b) any down-payment for the Loan, (c) escrow or title fees in connection with the initial closing and funding of the Loan and (d) will not be required to regular and customary lender fees associated with the Loan, including interest payments, for a period of six (6) months following the initial funding of the loan. As used herein, the term “qualified property” shall mean a property located in the State of Texas, which is approved by the Sponsor, in its sole discretion, as adequate collateral under the Loan. Based on a loan amount equal to the maximum allowed value of $350,000, the value of the Prize would have a cash value of approximately $350,000.
NOTWITHSTANDING THE FOREGOING, the term “cost-free loan” should not be interpreted, and shall not mean, that the Winner will not be responsible for any costs or expenses in connection with the Loan. Except as expressly specified in the description of the Prize, the Winner will be responsible for all costs and expenses related to the loan transaction. The Loan will be memorialized in the form of Sponsor’s standard loan documents and the Winner will be obligated to pay all costs and expenses required thereunder, including without limitation: (a) repayment of the Loan in full at its maturity; (b) interest payments following the first six (6) month period following the funding the initial funding of the Loan; (c) payment of penalties, late fees and default interest, if any, incurred in connection with the Loan; (d) costs and expenses related to the maintenance of the property and completion of the project, including, without limitation, payment of utilities, real estate taxes, insurance and mechanic’s liens; (e) all costs and expenses related to the completion of the construction project, including the cost of plans and specifications and contractors fees; and (f) all other costs or expenses related to the sale of a property, including without limitation, broker’s fees, title costs and escrow expenses.
Only the Prize specified above will be awarded. The Prize is non-transferable, with no cash redemption or equivalent. All federal, state and local income taxes, licensing, registration and title fees connected to a Prize are the sole responsibility of each Winner. Winner will be responsible for paying property taxes and utility charges on the chosen property. All federal, state and local laws and regulations apply. Sponsor expressly disclaims any responsibility or liability for injury or loss to any person or property relating to the delivery and/or subsequent use of the Prize awarded. Sponsor is not responsible for loss of any reservation or gift card related to the Prize and will not replace a lost Prize. Sponsor makes no representation or warranties concerning the Prize awarded.
The Winner may be asked to participate in documentation of the house flipping process through certain marketing content including, but not limited to, video interviews, blog submissions, social media spotlight, etc.
DISCLAIMER: THE LOAN WILL BE SUBJECT TO ALL TERMS AND CONDITIONS OF SPONSOR’S STANDARD LOAN DOCUMENTS. THE FAILURE OF THE WINNER TO COMPLY WITH ALL OF THE TERMS OF THE LOAN DOCUMENTS INCLUDING, BUT NOT LIMITED TO, THE REPAYMENT OF THE LOAN AT MATURITY, WILL ENTITLE THE SPONSOR TO PURSUE ALL REMEDIES AT LAW AND EQUITY, INCLUDING, THE FORECLOSURE OF THE SUBJECT PROPERTY.
IN ADDITION, THE WINNER WILL BE LIABLE OR ANY AND ALL TAXES RELATED TO ACCEPTING THE PRIZE, INCLUDING, PAYMENT OF ANY TAXES BASED ON THE AMOUNT OF THE PRICE.
CLAIMING PRIZE: As a condition of winning the Contest the Winner must complete any applicable forms required by Sponsor or a taxing authority within five (5) business days of receipt of Prize notification, including (a) an Affidavit of Eligibility and (b) Form 1099. To properly claim Prize, provide the Entrant’s name, phone number, mailing address, and email address (each an “Entry”) you will be invited to attend an event in which you will be named the contest “Winner”.
TERMS: Sponsor reserves the right, in its sole discretion to cancel, terminate, modify or suspend the Contest should (in its sole discretion) a virus, bugs, non-authorized human intervention, fraud or other causes beyond its control corrupt or affect the administration, security, fairness or proper conduct of the Contest. In such case, Sponsor may select the recipients from all eligible entries received prior to and/or after (if appropriate) the action taken by Sponsor. Sponsor reserves the right at its sole discretion to disqualify any individual who tampers or attempts to tamper with the entry process or the operation of the Contestor website or violates these Terms & Conditions.
LIMITATION OF LIABILITY: By participating in the Contest, including accepting a Prize, Entrants agree to release, hold harmless and agree not to institute any claim against Sponsor and its parent company, affiliates, subsidiaries and their respective officers, directors, employees, agents, and representatives (collectively, the “Released Parties”) from and against any and all liability whatsoever for any injuries, losses or damages of any kind arising from or in connection with, either directly or indirectly, the awarding (including the determination of authorized account holders), acceptance, receipt, possession, use and/or misuse of any Prize awarded herein. Upon delivery of a Prize to the Winner, Sponsor will be deemed to have awarded the Prize to such Winner with Winner assuming full responsibility for the Prize.
CHOICE OF LAW: All issues and questions concerning the construction, validity, interpretation and enforceability of these Official Rules, or the rights and obligations of Entrants and Sponsor in connection with this Contest, shall be governed by, and construed in accordance with the substantive laws of the State of Texas, without regard to its conflict of laws rules. Any action relating to this Contest shall be initiated only in the state and federal courts located in Travis County, Texas (USA).