SERVICE AGREEMENT:  FOR STANDARD FLOOD HAZARD STATEMENT

This Service Agreement has been updated 9/30/2006.

SERVICE AGREEMENT IMPORTANT-READ CAREFULLY: This Service Agreement (“This Agreement") is a legal Agreement between you (“The Client”) and Real Hazards Incorporated (“RHI”) for flood zone determinations on real property for which you have provided RHI with either a complete address (“subject property”), an assessors parcel number or a legal description.

1.DESCRIPTION OF RIGHTS AND LIMITATIONS.

1.1 You may use the flood zone determination only to determine whether flood insurance is required or to determine flood rates for a flood insurance policy for subject property.

2. SERVICES PROVIDED.

2.1 RHI will provide upon request and receipt of an accurate address or other sufficient description from “The Client”, a flood zone determination on FEMA'S Standard Flood Hazard Determination form, to determine whether or not an insurable building is located within a Special Flood Hazard Area as defined by Federal Emergency Management Agency under regulations promulgated pursuant to the Flood Disaster Protection Act of 1973 and The National Flood Insurance Reform Act of 1994.

2.2 All Standard Flood Hazard Determinations will be provided with a Metropolitan Statistical Area (MSA) if available and census tract number for Home Mortgage Disclosure Act/Community Reinvestment Act (HMDA/CRA) reporting as defined by the United States Bureau of the Census.

3. FEES

3.1 Standard Flood Hazard Statements with added value of census tract information fees will be $12.50.

3.2 For those Clients that have net-30 accounts; Prior to the 10th day of each calendar month, RHI shall email “The Client” a detailed statement of the orders placed in the previous month stating the amount due. All fees shall be payable within thirty(30) days of the date of the statement. Fees not paid within the time period shall bear interest at the rate of 1.5% per month until paid.

4. WARRANTIES AND INDEMNIFICATION

4.1 A flood zone determination made by RHI pursuant to the terms of this Agreement is exclusively for the benefit of the “Client”.

4.2 Real Hazards Incorporated agrees to make a reasonably prudent determination by due diligence and a good faith review of the most current FEMA Flood Insurance Rate Maps, Flood Hazard Boundary Maps and any Federal Emergency Management Agency Revisions to it since June 1997. This agreement is conditional upon “The Client” providing an accurate address or sufficient description information to make an accurate determination.

4.3 If RHI issues a Determination on a property stating that the insurable building located thereon is not located within a Special Flood Hazard Area, and the structure is in fact located in a Special Flood Hazard Area according to the FEMA Flood Insurance Rate Map effective as of the date of the Determination, RHI shall compensate injured party; real property owner, for any uninsured flood loss that would have been paid by an NFIP policy (maximum $250,000), less standard premiums that would have been paid to a NFIP policy secured by the property.

4.4 If RHI issues a Determination on a property stating that the insurable building located thereon is located within a Special Flood Hazard Area, and the structure is in fact not located in a Special Flood Hazard Area according to the FEMA Flood Insurance Rate Map effective as of the date of the Determination, RHI will reimburse injured party; real property owner,for any unnecessary or excessive flood insurance premiums paid during the life of the loan secured by the property.


5. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of Washington without deference to any conflicts of law theory. The parties agree all disputes between the parties, related to this contract or otherwise, shall only be submitted to the Superior Court of Washington located in Seattle,WA.

6. ATTORNEYS FEES
 
In the event of any litigation involving this contract of the parties hereto with regard to the subject matter hereof, the prevailing party shall be entitled to reasonable costs and attorney's fees, including any cost of appeal.

7. MISCELLANEOUS

7.1 If this Agreement changes a notice at the top of the agreement will notify “The Client” that a change to “This Agreement” has been made and to read carefully.

7.2 The Standard Flood Hazard Determination's information is intended solely for the purpose of compliance with the Flood Disaster Protection Act of 1973, and does not constitute an opinion by RHI as to the advisability of securing flood insurance for the property.

7.3 If there is a dispute in our determination RHI will review the determination free of charge if the request is within ninety (90) days of the determination, after that there will be a review fee of $5.00.
RHI may require additional information before the review can be started and may not be able to change previous determination without it. If "The Client" fails to provide required additional information RHI will waive the review fee but the determination will stand as originally stated.
 
7.4 RHI will not be held responsible for determinations made based on incorrect or lack of requested information provided by or not provided by "The Client".

7.5 SEVERABILITY: If a court determines any provision of this Agreement is unenforceable, that provision shall be stricken and the remaining provisions of this Agreement shall remain in full force and effect.
ACCEPT AGREEMENT



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