Lender Supplement

Last Modified Date: May 18, 2022
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This Lender Supplement is attached to and incorporated into the Notarize General Terms (“General Terms”). Capitalized terms not otherwise defined have the meanings given in the General Terms or the relevant Supplement or Order Form.

  1. Applicability. This Lender Supplement applies to Lender Subscribers who provide real property related lender services to consumers.
  2. Definitions. The definitions below apply to this Lender Supplement.
    2.1Hybrid RE Session” means an RE Transaction Session that includes both Documents reviewed and e- signed through the Platform as well as External Documents. Unless otherwise agreed in the Order Form, RE Services provided during a Hybrid RE Session do not include Notarizations or eNote signatures.
    2.2 Hybrid eNote Session” means a Hybrid RE Session that includes e-signature of an eNote.
    2.3Hybrid RE Session Fee” means the Transaction Fee charged for technology services that support a Hybrid RE Session.
    2.4Hybrid eNote Session Fee” means the Transaction Fee charged for technology services that support a Hybrid eNote Session.
    2.5Notarize RE Network” means the network of investors, insurers and service providers, including but not limited to title agents, underwriters and secondary market participants, who collaborate in efforts to complete real property and mortgage transactions processed through the Platform.
    2.6Lender RON Technology Session” means an RE Transaction Session where all Documents incidental or necessary for the completion of the Transaction (including any eNote or other Documents requiring Notarizations or e-signature) are uploaded, reviewed, and signed through the Platform.
    2.7Lender RON Technology Fee” means the Transaction Fee charged for a Lender RON Technology Session.
    2.8Title Services” means Services provider to Subscriber by a title, settlement, or escrow agent.
  3. General Terms for RE Services.
    3.1 RE Transaction Session Process. Subscriber is responsible for uploading Documents for each Transaction and identifying all Signatories and Participants necessary for the Transaction. Title Services do not include any other title, settlement, or escrow agent services (e.g., title search and exam, underwriting clearance, transfer and handling of funds related to settlement). Subscriber may use the Platform to submit requests to have one or more Documents completed as part of a Hybrid RE Session or Hybrid eNote Session. Subscriber may add as many Signatories and Participants to a Transaction as permitted by Notarize’s standard Platform functionality for the Subscription Plan Subscriber selected. Unless otherwise agreed in the Order Form, all RE Services are provided in English.
    3.2 Fees. Transaction Fees include Hybrid RE Session Fees, Hybrid eNote Session Fees, and Lender RON Technology Fees.

    3.3 Smart Routing and Collaboration Services.
    (a) Smart Routing. When available, and solely as a source of aggregated information, Subscriber may use the Platform to query the eligibility of each unique real estate Transaction (i) to be closed as Hybrid eNote Session or other as otherwise permitted by the Platform and (ii) to be conducted with one or more eligible Notarize RE Network partners (“Smart Routing”). Smart Routing does not include determination of eligibility of a proposed sale of an eNote to specific third parties, and Smart Routing functionality may change from time to time in Notarize’s sole discretion. Smart Routing is populated by Notarize based on third-party data sources and, where offered by Notarize, Subscriber preferences. Subscriber is responsible for all legal determinations about the validity of any Transaction and whether to proceed with a given Transaction.
    (b) Collaboration Services. Subscriber may use the Platform to build, edit, review, and send Documents collaboratively with certain Notarize RE Network partners as part of a Transaction prior to a Lender RON Technology Session, and to review the Documents and Transaction events after the Lender RON Technology Session (the “Collaboration Services”). Subscriber may use Smart Routing and Collaboration Services to access information about providers in the Notarize RE Network. Each Notarize RE Network provider may have its own additional terms and conditions associated with the services they provide in connection with Transactions. Subscriber is solely responsible for vetting each Notarize RE Network provider and entering into any agreements that providers require. Notarize is not responsible for the accuracy of Smart Routing data and hereby disclaims any and all liability associated with accuracy of the Smart Routing service.

    3.4 DigitalMortgages and eNote Service Integrations. If the Platform is used in relation to any eNote, Subscriber is solely responsible for contracting directly with one or more third party providers of eNote generation, eVault, and MERS' eRegistry services (collectively, "eNote Service Providers") which are necessary to fulfill eNote selling requirements that apply to Subscriber.E-Sign Services provided by Notarize for eNote Documents do not include eNote generation, eVault, or MERS eRegistry services. Although the Platform is integrated with various eNote Service Providers, it is not directly integrated with MERS' eRegistry. Subscriber may request Notarize to enable an integration with eNote Service Providers supported by the Platform. Except as otherwise agreed to in the Order Form, enabling the integration will require Subscriber to: (a) select from a list eNote Service Providers that are integrated with thePlatform (as designated by Notarize); (b) maintain a qualifying SubscriptionPlan; and (c) fulfill any other requirements specified by Notarize or the eNoteService Provider to be reasonable or necessary for enabling or maintaining such integration.

    3.5 Exclusions. Unless otherwise agreed in the Order Form, RE Services do not include
    (a) administration of External Documents, such as scheduling a mobile Notary or signer outside the Platform, transmitting or tracking External Documents, or retrieving executed External Documents from a third party or
    (b) assistance with collection or transfer of escrow funds.

    3.6 Acknowledgments. Subscriber understands and acknowledges that:
    (a) Unless otherwise specified on an Order Form, the Transaction Fees outlined in this Lender Supplement are technology services fees, they are not settlement services fees and should not be billed as a line item payable to Notarize on the closing documents. Transaction Fees are not to be directly passed through to the consumer and Notarize has entered into this Agreement upon this express agreement and understanding by Subscriber. Transaction Fees outlined are exclusive of the fee associated with Notarize providing a Notary to perform Notarizations on Subscriber Documents. The Fee associated with providing the Notary must be paid by the applicable Title Agent that Subscriber or its customer has selected to provide title, settlement, or escrow services to Subscriber in relation to the applicable Transaction (“Title Agent Transaction Fee”). In the event Title Agent is delinquent in its payment of any fees to Notarize or refuses to pay the Title Agent Transaction Fee, Notarize may decline to provide access to Notarizations on Subscriber Transactions and Notarize will not be deemed to be in breach of the Agreement.
    (b) As required by Applicable Notary Law, On-demand Notary Services are provided only when the On-demand Notary and all Signatories and Participants speak the same language.
    (c) If Notarizations or Authentication Services are included in the RE Services, Title Agent User will pre-qualify the Signatories and Participants and ensure each has a current valid government-issued photo identification credential and a US social security number in their possession during the Lender RON Technology Session.
    (d)
    Subscriber and any attorney or title insurance producer, assume responsibility for any required participation and/or supervision of any RE closing activities to be completed by a licensed attorney or title insurance producer on the Notarize Platform, in accordance with the applicable RE and title insurance laws.