Last Revised: September 26, 2016
Lucro is a premium real estate financial modeling platform for real estate professionals.
4.1 Account Creation. To use the Service, you must register for an account and provide certain information as prompted by the account registration form. You agree to provide us with true and correct registration and billing information, and to maintain the accuracy of such information on the Service.
5.3 Disclaimers. The Service is subject to the disclaimers in Section 10.6. You should use various methods, as well as your own business experience, to value real estate properties. The Service may contain errors. It is your responsibility to double-check the formulas and results generated by the Service. The material contained in the Service has been prepared from sources and data we believe to be reliable, but we make no guarantee as to its accuracy or completeness. You shall be responsible for confirming the accuracy of any information contained in the Service. Additionally, the provision of pre-populated deal assumptions in the Service is not intended to be a representation of a property’s value, and you should carefully review all assumptions for accuracy prior to generating your own financial model. The Service does not constitute real estate, legal, tax, accounting or other professional advice, or an offer to sell or lease real estate, and may not be used for personal, family or household purposes or to determine an individual’s eligibility for credit, insurance, or employment.
5.4 Modification. Lucro is continuously updating and changing the Service, and reserves the right at any time and from time to time to modify or discontinue, temporarily or permanently, the Service (or any part thereof) with or without notice. These modifications may require us to recalculate the financial models on the Service, resulting in different output. You agree that Lucro shall not be liable to you or to any third party for any modification, suspension or discontinuance of the Service (or any part thereof).
5.5 No Support or Maintenance. You acknowledge and agree that Lucro will have no obligation to provide you with any support or maintenance in connection with the Service.
(b) You acknowledge that the Service, including, without limitation, the content in the Service, the formulas used in the Service, and the “look and feel” of the Service, constitutes the valuable property and confidential copyrighted information of Lucro and its suppliers (collectively, the “Proprietary Information“). You agree to (i) comply with all copyright, trademark, trade secret, patent, contract and other laws necessary to protect all rights in the Proprietary Information, (ii) not challenge Lucro’s and its suppliers’ ownership of (or the validity or enforceability of their rights in and to) the Proprietary Information, (iii) not remove, conceal, obliterate or circumvent any copyright or other notice or license, use or copying technological measure included in the Service, and (iv) not use or reproduce any trademark, service mark, logo or trade name of Lucro or its suppliers without the prior written consent of the applicable owner.
5.7. Confidential Information.
6.1 User Content. The Service includes opportunities for users to submit information, data, assumptions, financial models, text, photographs, images, graphics, and other content to the Service (“User Content“). Lucro acknowledges that if you provide Lucro with User Content, then you retain any applicable ownership rights that you may have with respect to such content. However, you understand that all such User Content, whether publicly posted or privately transmitted, is the sole responsibility of the person from which such content originated. This means that you, and not Lucro, are solely responsible for all such content that you post, upload, publish, link to, email, transmit, record, display, or otherwise submit (“post”) on or via the Service. You hereby represent and warrant that your User Content does not violate our Acceptable Use Policy (defined in Section 6.3). You may not represent or imply to others that your User Content is in any way provided, sponsored, or endorsed by Lucro. Lucro is not obligated to post or backup any User Content, and your User Content may be deleted at any time without prior notice. You are solely responsible for creating and maintaining your own backup copies of your User Content if you desire.
(a) You hereby grant (and you represent and warrant that you have the right to grant) to Lucro an irrevocable, nonexclusive, royalty-free and fully paid, worldwide license to reproduce, distribute, publicly display and perform, prepare derivative works of, incorporate into other works, and otherwise use and exploit your User Content as described in Section 6.2(b), and to grant sublicenses of the foregoing rights, solely for the purpose of including your User Content on the Service. You hereby irrevocably waive (and agree to cause to be waived) any claims and assertions of moral rights or attribution with respect to your User Content.
6.3 Acceptable Use Policy. The following terms constitute our “Acceptable Use Policy”:
(a) You agree not to use the Service to collect, upload, transmit, display, or distribute any User Content (i) that violates any third-party right, including any copyright, trademark, patent, trade secret, moral right, privacy right, right of publicity, or any other intellectual property or proprietary right; (ii) that is unlawful, harassing, abusive, tortious, threatening, harmful, invasive of another’s privacy, vulgar, defamatory, false, intentionally misleading, trade libelous, pornographic, obscene, patently offensive, promotes racism, bigotry, hatred, or physical harm of any kind against any group or individual or is otherwise objectionable; (iii) that is harmful to minors in any way; (iv) that is in violation of any law, regulation, or obligations or restrictions imposed by any third party; or (v) that does not generally pertain to the purpose of the Service.
(b) In addition, you agree not to: (i) upload, transmit, or distribute to or through the Service any computer viruses, worms, or any software intended to damage or alter a computer system or data; (ii) send through the Service unsolicited or unauthorized advertising, promotional materials, junk mail, spam, chain letters, pyramid schemes, or any other form of duplicative or unsolicited messages, whether commercial or otherwise; (iii) use the Service to harvest, collect, gather or assemble information or data regarding other users, including e-mail addresses, without their consent; (iv) interfere with, disrupt, or create an undue burden on servers or networks connected to the Service, or violate the regulations, policies or procedures of such networks; (v) attempt to gain unauthorized access to the Service (or to other computer systems or networks connected to or used together with the Service), whether through password mining or any other means; (vi) harass or interfere with any other user’s use and enjoyment of the Service; or (vi) use software or automated agents or scripts to produce multiple accounts on the Service, or to generate automated searches, requests, or queries to (or to strip, scrape, or mine data from) the Service (provided, however, that we conditionally grant to the operators of public search engines revocable permission to use spiders to copy materials from the Service for the sole purpose of and solely to the extent necessary for creating publicly available searchable indices of the materials, but not caches or archives of such materials, subject to the parameters set forth in our robots.txt file).
6.4 Enforcement. We reserve the right (but have no obligation) to review any User Content, and to investigate and/or take appropriate action against you in our sole discretion if you violate the Acceptable Use Policy or any other provision of these Terms or otherwise create liability for us or any other person. Such action may include removing or modifying your User Content, terminating your Account in accordance with Section 8, and/or reporting you to law enforcement authorities.
8.1 Fees and Subscriptions. The Service and additional features, products, and services may be offered via a monthly or annual subscription plan or for a one-time fee. When you select a plan or a product and complete the online order form, you agree to pay the monthly or annual fees for such plan (“Subscription Fees”) or the one-time fee. Subscription Fees shall be due and payable monthly or annually in advance on a recurring basis. One-time fees shall be due and payable at the time of purchase. You will be required to provide a valid credit card number and payment information. By providing your credit card and payment information, you agree that we and/or our third party payment processor are authorized to charge your credit card for all fees and charges that are due and payable, including Subscription fees, one-time fees, and any other fees and charges associated with your subscription to the Service or purchase of additional features, products, and services. You agree to immediately update your account on the Service with any changes to your credit card, number, or payment information. Failure to update your information may result in an immediate suspension or termination of your account.
7.2 Changes to Fees. We reserve the right, at any time, to change our fees or charges and billing methods for the Service and additional features, products and services.
7.3 Late Payments. You acknowledge that your failure to pay any fees or charges when due may result in suspension or termination of your account. If you fail to pay any of the fees or charges due hereunder, Lucro reserves the right to engage a collections agency to collect the fees and charges and you shall pay all costs incurred by Lucro in connection with the collection of such past due amounts, including, without limitation, reasonable attorneys’ and collections agencies’ fees plus interest in an amount equal to the lesser of 1.5% per month compounded monthly or the maximum rate permitted by applicable law.
7.5 Cancellation; No Refunds. You may cancel your subscription at any time, however you agree and understand that there are no refunds or partial refunds for the Service or any additional features, products, or services.
THE SERVICE IS PROVIDED ON AN “AS-IS” AND “AS AVAILABLE” BASIS, AND LUCRO (AND OUR SUPPLIERS) EXPRESSLY DISCLAIM ANY AND ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WITHOUT LIMITATION ALL WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, QUIET ENJOYMENT, ACCURACY, OR NON-INFRINGEMENT. WE (AND OUR SUPPLIERS) MAKE NO WARRANTY THAT THE SERVICE WILL MEET YOUR REQUIREMENTS, WILL BE AVAILABLE ON AN UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE BASIS, OR WILL BE ACCURATE, RELIABLE, FREE OF VIRUSES OR OTHER HARMFUL CODE, COMPLETE, LEGAL, OR SAFE. IF APPLICABLE LAW REQUIRES ANY WARRANTIES WITH RESPECT TO THE SERVICE, ALL SUCH WARRANTIES ARE LIMITED IN DURATION TO NINETY (90) DAYS FROM THE DATE OF FIRST USE
SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU. SOME JURISDICTIONS DO NOT ALLOW LIMITATIONS ON HOW LONG AN IMPLIED WARRANTY LASTS, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU
Lucro respects the intellectual property of others and asks that users of our Service do the same. In connection with our Service, we have adopted and implemented a policy respecting copyright law that provides for the removal of any infringing materials and for the termination, in appropriate circumstances, of users of our Service who are repeat infringers of intellectual property rights, including copyrights. If you believe that one of our users is, through the use of our Service, unlawfully infringing the copyright(s) in a work, and wish to have the allegedly infringing material removed, the following information in the form of a written notification (pursuant to 17 U.S.C. § 512(c)) must be provided to our designated Copyright Agent:
Please note that, pursuant to 17 U.S.C. § 512(f), any misrepresentation of material fact (falsities) in a written notification automatically subjects the complaining party to liability for any damages, costs and attorney’s fees incurred by us in connection with the written notification and allegation of copyright infringement.
Notice of claims of copyright infringement should be provided to the Lucro Copyright Agent at firstname.lastname@example.org or the following address:
Attn: Copyright Agent
Lucro Global, LLC
321 North Clark Street
Chicago, IL 60654
16.1 Use of Name. You agree that Lucro may use your name and your logos in Lucro’s marketing and promotional materials for promoting that you are a client of Lucro and a user of Lucro’s services.
16.3 Remedies. You acknowledge that in the event of a breach of any of these terms by you, Lucro may suffer irreparable harm and shall be entitled to injunctive relief (without the necessity of posting a bond) as well as all other monetary remedies available at law or in equity.
16.3 Dispute Resolution. Please read this Arbitration Agreement carefully. It is part of your contract with Lucro and affects your rights. It contains procedures for MANDATORY BINDING ARBITRATION AND A CLASS ACTION WAIVER.
(a) Applicability of Arbitration Agreement. All claims and disputes (excluding claims for injunctive or other equitable relief as set forth below) in connection with the Terms or the use of any product or service provided by Lucro that cannot be resolved informally or in small claims court shall be resolved by binding arbitration on an individual basis under the terms of this Arbitration Agreement. Unless otherwise agreed to, all arbitration proceedings shall be held in English. This Arbitration Agreement applies to you and the Lucro, and to any subsidiaries, affiliates, agents, employees, predecessors in interest, successors, and assigns, as well as all authorized or unauthorized users or beneficiaries of services or goods provided under the Terms.
(b) Notice Requirement and Informal Dispute Resolution. Before either party may seek arbitration, the party must first send to the other party a written Notice of Dispute (“Notice”) describing the nature and basis of the claim or dispute, and the requested relief. A Notice to Lucro should be sent to: Attn: Legal, Lucro Global, LLC, 321 North Clark Street, Suite 2550, Chicago, IL 60654. After the Notice is received, you and Lucro may attempt to resolve the claim or dispute informally. If you and Lucro do not resolve the claim or dispute within thirty (30) days after the Notice is received, either party may begin an arbitration proceeding. The amount of any settlement offer made by any party may not be disclosed to the arbitrator until after the arbitrator has determined the amount of the award, if any, to which either party is entitled.
(c) Arbitration Rules. Arbitration shall be initiated through the American Arbitration Association (“AAA”), an established alternative dispute resolution provider (“ADR Provider”) that offers arbitration as set forth in this section. If AAA is not available to arbitrate, the parties shall agree to select an alternative ADR Provider. The rules of the ADR Provider shall govern all aspects of the arbitration, including but not limited to the method of initiating and/or demanding arbitration, except to the extent such rules are in conflict with the Terms. The AAA Consumer Arbitration Rules (“Arbitration Rules”) governing the arbitration are available online at www.adr.org or by calling the AAA at 1-800-778-7879. The arbitration shall be conducted by a single, neutral arbitrator. Any claims or disputes where the total amount of the award sought is less than Ten Thousand U.S. Dollars (US $10,000.00) may be resolved through binding non-appearance-based arbitration, at the option of the party seeking relief. For claims or disputes where the total amount of the award sought is Ten Thousand U.S. Dollars (US $10,000.00) or more, the right to a hearing will be determined by the Arbitration Rules. Any hearing will be held in a location within 100 miles of your residence, unless you reside outside of the United States, and unless the parties agree otherwise. If you reside outside of the U.S., the arbitrator shall give the parties reasonable notice of the date, time and place of any oral hearings. Any judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction. If the arbitrator grants you an award that is greater than the last settlement offer that Lucro made to you prior to the initiation of arbitration, Lucro will pay you the greater of the award or $2,500.00. Each party shall bear its own costs (including attorney’s fees) and disbursements arising out of the arbitration and shall pay an equal share of the fees and costs of the ADR Provider.
(d) Additional Rules for Non-Appearance Based Arbitration. If non-appearance based arbitration is elected, the arbitration shall be conducted by telephone, online and/or based solely on written submissions; the specific manner shall be chosen by the party initiating the arbitration. The arbitration shall not involve any personal appearance by the parties or witnesses unless otherwise agreed by the parties.
(e) Time Limits. If you or Lucro pursue arbitration, the arbitration action must be initiated and/or demanded within the statute of limitations (i.e., the legal deadline for filing a claim) and within any deadline imposed under the AAA Rules for the pertinent claim.
(f) Authority of Arbitrator. If arbitration is initiated, the arbitrator will decide the rights and liabilities, if any, of you and Lucro, and the dispute will not be consolidated with any other matters or joined with any other cases or parties. The arbitrator shall have the authority to grant motions dispositive of all or part of any claim. The arbitrator shall have the authority to award monetary damages, and to grant any non-monetary remedy or relief available to an individual under applicable law, the AAA Rules, and the Terms. The arbitrator shall issue a written award and statement of decision describing the essential findings and conclusions on which the award is based, including the calculation of any damages awarded. The arbitrator has the same authority to award relief on an individual basis that a judge in a court of law would have. The award of the arbitrator is final and binding upon you and Lucro.
(g) Waiver of Jury Trial. THE PARTIES HEREBY WAIVE THEIR CONSTITUTIONAL AND STATUTORY RIGHTS TO GO TO COURT AND HAVE A TRIAL IN FRONT OF A JUDGE OR A JURY, instead electing that all claims and disputes shall be resolved by arbitration under this Arbitration Agreement. Arbitration procedures are typically more limited, more efficient and less costly than rules applicable in a court and are subject to very limited review by a court. In the event any litigation should arise between you and Lucro in any state or federal court in a suit to vacate or enforce an arbitration award or otherwise, YOU AND LUCRO WAIVE ALL RIGHTS TO A JURY TRIAL, instead electing that the dispute be resolved by a judge.
(h) Waiver of Class or Consolidated Actions. ALL CLAIMS AND DISPUTES WITHIN THE SCOPE OF THIS ARBITRATION AGREEMENT MUST BE ARBITRATED OR LITIGATED ON AN INDIVIDUAL BASIS AND NOT ON A CLASS BASIS, AND CLAIMS OF MORE THAN ONE CUSTOMER OR USER CANNOT BE ARBITRATED OR LITIGATED JOINTLY OR CONSOLIDATED WITH THOSE OF ANY OTHER CUSTOMER OR USER.
(i) Confidentiality. All aspects of the arbitration proceeding, including but not limited to the award of the arbitrator and compliance therewith, shall be strictly confidential. The parties agree to maintain confidentiality unless otherwise required by law. This paragraph shall not prevent a party from submitting to a court of law any information necessary to enforce this Agreement, to enforce an arbitration award, or to seek injunctive or equitable relief.
(j) Severability. If any part or parts of this Arbitration Agreement are found under the law to be invalid or unenforceable by a court of competent jurisdiction, then such specific part or parts shall be of no force and effect and shall be severed and the remainder of the Agreement shall continue in full force and effect.
(k) Right to Waive. Any or all of the rights and limitations set forth in this Arbitration Agreement may be waived by the party against whom the claim is asserted. Such waiver shall not waive or affect any other portion of this Arbitration Agreement.
(l) Survival of Agreement. This Arbitration Agreement will survive the termination of your relationship with Company.
(m) Small Claims Court. Notwithstanding the foregoing, either you or Lucro may bring an individual action in small claims court.
(n) Emergency Equitable Relief. Notwithstanding the foregoing, either party may seek emergency equitable relief before a state or federal court in order to maintain the status quo pending arbitration. A request for interim measures shall not be deemed a waiver of any other rights or obligations under this Arbitration Agreement.
(o) Claims Not Subject to Arbitration. Notwithstanding the foregoing, claims of defamation, violation of the Computer Fraud and Abuse Act, and infringement or misappropriation of the other party’s patent, copyright, trademark or trade secrets shall not be subject to this Arbitration Agreement.
(p) Courts. In any circumstances where the foregoing Arbitration Agreement permits the parties to litigate in court, the parties hereby agree to submit to the personal jurisdiction of the courts located within [COUNTY] County, [Illinois/Delaware], for such purpose.
16.4 Export. The Service may be subject to U.S. export control laws and may be subject to export or import regulations in other countries. You agree not to export, re-export, or transfer, directly or indirectly, any U.S. technical data acquired from Lucro, or any products utilizing such data, in violation of the United States export laws or regulations.
16.5 Electronic Communications. The communications between you and Lucro use electronic means, whether you use the Service or send us emails, or whether Lucro posts notices on the Service or communicates with you via email. For contractual purposes, you (a) consent to receive communications from Lucro in an electronic form; and (b) agree that all terms and conditions, agreements, notices, disclosures, and other communications that Lucro provides to you electronically satisfy any legal requirement that such communications would satisfy if it were in a hardcopy writing. The foregoing does not affect your non-waivable rights.
16.8 Contact Information:
Lucro Global, LLC
321 North Clark Street
Chicago, IL 60654