CONGRATULATIONS! - SWMC.com - Sun West Mortgage Company ...

INTERNET ADDENDUMThis Internet Addendum made as of(mm/dd/yyyy),(this“Addendum”) is by and between _ ______________________, (“Broker/Correspondent” or “B/C”) and Sun West Mortgage Company, Inc(“BUYER”). This Addendum supplements the Mortgage Broker Agreement and/orCorrespondent Agreement (the “Agreement”) between the parties to this Addendum toinclude (i) B/C’s ability to submit its loan applications to any automated underwritingsystems made available through BUYER’s website and (ii) B/C’s access to its loan statustracking by way of BUYER’s Internet website named www.swmc.com (the “website”) and(iii) B/C’s ability to originate and process its loans through BUYER’s Internet based loanorigination systems named Reversesoft OnLine®, Mortgagesoft OnLine®, and PiXL® (the“Systems”).Now, therefore, the parties hereto, in consideration of the terms, conditions, promises andagreements hereafter set forth, and other good and valuable consideration, the receipt andsufficiency of which is hereby expressly acknowledged, mutually warrant, covenant andagree as follows:A. Purpose:1. B/C understands and agrees that the purposes of the Addendum are (a) to enable B/C tosubmit its loan applications to any automated underwriting system(s) as are available fromtime to time through BUYER’s website and (b) to enhance B/C’s ability to track the status ofits loans in process with the BUYER (c) to enhance B/C’s ability to submit loans andcoordinate with the BUYER.2. B/C understands that its access to BUYER’s website is for “submit”, “view”, and “print”purposes only. B/C will not have the rights to amend, delete, or add to any data displayedat anytime on the BUYER’s website.3. B/C understands the BUYER shall hold all rights, title and interest in all data that isentered into the BUYER’s website or Systems.4. B/C understands that the Systems and website is owned by BUYER, and its structure,organization, Source Code, Object Code and the Documentation, including, but not limitedto, all Intellectual Property are the valuable trade secrets of BUYER and are and will remainthe exclusive property of BUYER, whether or not specifically recognized under the laws ofthe jurisdiction in which they are used. B/C shall not take any action that jeopardizesBUYER’s proprietary rights or acquire any Intellectual Property right in the Systems,website, or Documentation. BUYER shall also own all rights in any copy of the Systems,website, and Documentation including any improvement or derivation thereof. The Systemsand website also is protected by United States Copyright Law and International Treatyprovisions. B/C hereby acknowledges and agrees that BUYER’s Confidential Information isspecial, unique and extraordinary and that remedies at law may be inadequate to providefull compensation in the event of a breach by B/C of any of its obligations, representations,and warranties hereunder and BUYER shall therefore be entitled to seek injunctive reliefagainst B/C, in the event of any such breach or threatened breach without provingdamages or posting bond.B. Confidentiality:1. B/C agrees to strictly limit access to BUYER’s website via their user ID and password toits own employees and will not share or disclose its user ID or password to any otherperson or party. B/C will be responsible for enforcing the confidentiality provisions of thisagreement by, with, and through each of its employees.Initials:________ BC App Ver. 7.7 10/06/2014 Page 36