Platform
Rules and Procedures

By using the Brixbid Platform, Landlords and Renters agree to participate in a bidding process to determine the value of rent to be charged for a residential lease. Landlords agree to list properties on the site with detailed and accurate descriptions of their properties and their qualified tenant criteria and Renters agree to commit to renting properties based on a bid (“Offer”) of what they are willing to pay in rent for the property per month. Landlords and Renters agree that by participating in the Brixbid negotiation process, they intend to be bound to a residential lease based on the outcome. Landlords and Renters are encouraged to seek the advice of an attorney prior to participating in the Brixbid Platform for legal counsel regarding explanation of lease terms and obligations.

Platform Rules and ProceduresTable Of Contents1. Introduction2. Bidding Process3. Post Transaction Procedures1.IntroductionBy using the Brixbid Platform, Landlords and Renters agree to participate in a bidding process to determine the value of rent to be charged for a residential lease. Landlords agree to list properties on the site with detailed and accurate descriptions of their properties and their qualified tenant criteria and Renters agree to commit to renting properties based on a bid (“Offer”) of what they are willing to pay in rent for the property per month. Landlords and Renters agree that by participating in the Brixbid negotiation process, they intend to be bound to a residential lease based on the outcome. Landlords and Renters are encouraged to seek the advice of an attorney prior to participating in the Brixbid Platform for legal counsel regarding explanation of lease terms and obligations.2.Bidding ProcessFor each of its property listings on Brixbid, a Landlord establishes the lowest amount of rent that would be acceptable to enter into a lease. This amount is called the Minimal Rental Price. Once the Minimum Rental Price is set and the listing becomes active, a Renter may make an Offer of an amount for monthly rent using the Brixbid Platform. By making an Offer on a listed property, Renters agree that they intend to rent such property for the value of the Offer they make. When making an initial Offer on the Brixbid Platform, a Renter may offer an amount that is less than the Minimum Rental Price, however, an Offer that is lower than Minimum Rental Price does not have to be accepted by the Landlord as a winning Offer. Regardless of the initial bid amount, the landlord may then choose to extend the time to receive additional offers for 24, 48 or 72 hours (Bidding Period). During the Bidding Period, other Renters may make additional Offers to become the winning Offer on the listing by offering more than the current highest Offer. At the conclusion of the Bidding Period, the Renter with the highest outstanding Offer above the Minimum Rental Price is the Winning Renter. A Landlord in its discretion may declare a highest Offer that is below the Minimum Rental Price as the Winning Renter.

Additionally, Renters are only allowed to have one Offer pending on the Brixbid Platform at any given time. If a Renter is outbid by a competing Offer, the platform will then allow the Renter to place another Offer on that property or any other property listed on the platform.

Naming Guarantors and Co-Lessees
When making an Offer on a Property, Renters also will have the option of identifying a guarantor and one or more co-lessees. In some cases, landlords may reach out to the Winning Renter for more information after the listing closes, including the addition of co-lessees or guarantors, but this is solely up to the landlord’s discretion.

Outside Communications Prohibited
All Offers on a Property shall be conducted within the Brixbid Platform. To preserve the integrity of the Platform, communications regarding value of rent of a listed property between Landlords and Renters outside the Brixbid Platform are strictly prohibited and constitute violations of the End User Agreements for Renters and Landlords and may lead to suspension or termination of the Brixbid Account. Parties receiving an offer or communication from another listing participant outside of the Brixbid Platform are required to report such communication to Brixbid.

Notwithstanding anything to the contrary in this Agreement, Brixbid may, if deemed necessary or appropriate withdraw a bid and/or withdraw a Property listing at any time prior to or after the Transaction Close without liability to any Landlord, Renter or other third-party.

Closed Listings and Landlord Prequalification Screening
After the listing for a Property closes, the Winning Renter will receive an email from Brixbid (“Winning Renter Notification”) providing notice that he or she has the highest bid by the Listing Close Time. If the Winning Renter had a guarantor and/or any co-lessees, each such individuals will also receive the Winning Renter Notification. The email will include a link and instructions directing each of the parties related to the Winning Renter to provide information related to Landlord’s tenant screening criteria which will automatically include a credit check and eviction background check. If, however, a credit and eviction background check was previously performed on the individual within the prior thirty (30) day period (as a result of the individual bidding on an earlier Property listing or being listed as a guarantor or co-lessee with respect to an earlier bid), such previously performed check(s) will be used for purposes of the Winning Renter’s current highest bid. In such instance, the Winning Renter and such other individuals (as applicable) will not be required to pay an additional fee for a new credit and eviction background check.

If the Winning Renter has listed a guarantor but the guarantor fails to complete the credit and eviction background check, or otherwise fails to complete the process, Landlord will be notified. Landlord will have the option, in its sole discretion, to consider the Winning Renter’s bid without the guarantor and Landlord may accept the pre-qualifications of the Winning Renter without the guarantor. If the Winning Renter has listed one or more co-lessees but any such co-lessee fails to complete the credit, criminal and eviction background check, or otherwise fails to complete the process, the Winning Renter’s bid will be rejected. Landlord will not have the option of leasing to such Winning Renter.

Approval of Winning Renters
After the listing for a Property closes, the Winning Renter will receive an email from Brixbid (“Winning Renter Notification”) providing notice that he or she has the highest bid by the Listing Close Time. If the Winning Renter had a guarantor and/or any co-lessees, each such individuals will also receive the Winning Renter Notification. The email will include a link and instructions directing each of the parties related to the Winning Renter to provide information related to Landlord’s tenant screening criteria which will automatically include a credit check and eviction background check. If, however, a credit and eviction background check was previously performed on the individual within the prior thirty (30) day period (as a result of the individual bidding on an earlier Property listing or being listed as a guarantor or co-lessee with respect to an earlier bid), such previously performed check(s) will be used for purposes of the Winning Renter’s current highest bid. In such instance, the Winning Renter and such other individuals (as applicable) will not be required to pay an additional fee for a new credit and eviction background check.If the Winning Renter has listed a guarantor but the guarantor fails to complete the credit and eviction background check, or otherwise fails to complete the process, Landlord will be notified. Landlord will have the option, in its sole discretion, to consider the Winning Renter’s bid without the guarantor and Landlord may accept the pre-qualifications of the Winning Renter without the guarantor. If the Winning Renter has listed one or more co-lessees but any such co-lessee fails to complete the credit, criminal and eviction background check, or otherwise fails to complete the process, the Winning Renter’s bid will be rejected. Landlord will not have the option of leasing to such Winning Renter.Approval of Winning RentersUpon completion of the credit and eviction background check of Winning Renter, guarantor and all co-lessees (if any), Landlord (and/or Landlord’s designated agent or representative for such listing) will be notified of the Winning Renter’s bid, the credit score range of, and the results of the eviction check with respect to, the Winning Renter and each of his or her guarantor (if any) and co-lessees (if any). The Landlord shall then have 24 hours to make the decision to either accept or reject the Winning Renter’s pre-qualifications to lease the Property. If Landlord accepts the Winning Renter’s pre-qualifications for the Property, the Winning Renter shall be notified of Landlord’s approval of the Winning Renter’s prequalification criteria. After such approval, the Landlord will then be able to proceed with the criminal background check of the Winning Renter and any co-lessees. In the event the criminal background check does not reveal information from which the Landlord would deny the Winning Renter and the co-lessees then the Winning Renter shall be deemed the Approved Winning Renter and notification of approval will then be sent out to the Approved Winning Renter. The Approved Winning Renter notification will include a link to the Residential Lease Agreement for review and signature via digital signature.

Although it is the Landlord’s decision whether to accept or reject a Winning Renter, the Landlord must fully comply with all applicable laws, rules and regulations. If Brixbid determines that Landlord rejected one or more Winning Renters or any of their guarantor and/or co-lessees (as applicable) despite such individuals meeting or exceeding the credit score range originally requested by Landlord, and despite such individual otherwise being qualified then, Brixbid in its sole discretion may: (a) terminate Landlord’s landlord account, and/or (b) deny Landlord permission to use the Brixbid platform or the website.

Criminal Conviction History
In the event the Landlord does not approve of the Winning Renter and the co-lessees based on the criminal background check revealing criminal convictions within the last three years then the Winning Renter and the co-lessees will be given notice that they are not yet approved. Brixbid’s notice will also state that the Landlord will conduct an individualized assessment regarding the criminal conviction history in accordance with the Cook County Just Housing Act and that Brixbid can no longer facilitate the lease application with Landlord. Brixbid will also provide notice to the Landlord that Brixbid can no longer facilitate the lease application and that Landlord must contact the Winning Renter and the co-lessees directly concerning the criminal background check and compliance with the Just Housing Act.

Runner-Up Bidders
If the Winning Renter is not approved by the Landlord, the Property will be offered to the Renter with the next highest Offer at the Listing Close Time (“Runner-Up Bidder”). The offer to the Runner-Up Bidder would arise either after the Landlord has denied the Winning Renter in the prequalification screening including the credit check and eviction history check or it would arise after Brixbid has been notified by the Landlord that the Winning Renter was not approved based on the criminal background check. The Runner-Up Bidder will receive an email via the Brixbid Platform allowing the Runner-Up Bidder to choose whether to affirm his or her last bid for such Property. (In the event the Landlord denies the Winning Renter due to the criminal background check, the notice to the Runner-Up Bidder could take up to 10 days.) If the Runner-Up bidder affirms his or her bid, he or she will be deemed the Winning Renter for such Property and he or she must complete (and his or her guarantor and co-lessees, if any, must complete) the credit and eviction background check and then the criminal background check and otherwise satisfy all obligations applicable to Winning Renters as described herein in order to be considered the Winning Renter. If the Runner-Up Bidder does not wish to affirm his or her bid on the Property, the Property will be offered to the next Runner-Up Bidder and the same process described above will apply. The Property will continue to be offered to the next Runner-Up Bidder until either: (a) there are no more Runner-Up Bidders. If there are no more Runner-Up Bidders, Landlord may list the Property in a new listing on the Brixbid Platform.

If the Runner-Up Bidder affirms his or her bid on a Property, such Runner-Up Bidder will be deemed the Winning Renter.

Landlord acknowledges and agrees that Renter’s bids may be withdrawn from Property listings if Brixbid determines that withdrawing a bid is appropriate under the circumstances. Examples of when Brixbid may determine that withdrawing bids is appropriate include instances when the Listing Materials submitted by Landlord are determined to be false, misleading or inappropriate or if Brixbid believes that information supplied by the bidder or the bidder’s guarantor or any co-lessee is false, inaccurate or inappropriate or if Brixbid believes that allowing a bid or listing to continue may expose Brixbid to harm, damage or liability.

Signing the Residential Lease Agreement
The Approved Winning Renter Notification shall include a link to the Residential Lease Agreement for review and signature via digital signature. Brixbid uses a third-party vendor (currently DocuSign) for digital signature services. By using the Brixbid Platform, Landlord (and each Renter) agrees to execute Residential Lease Agreements by digital signature using DocuSign. If Landlord does not agree to sign the Residential Lease Agreement by digital signature, or if Landlord otherwise does not consent to use Docusign, Landlord shall not use the Brixbid Platform.

Each Approved Winning Renter and any co-lessees and guarantors have twenty-four (24) hours to sign (via digital signature) the Residential Lease Agreement and corollary documents. Landlord is required to sign (via digital signature) the Residential Lease Agreement within twenty-four (24) hours after Winning Renter signs.

It is Landlord’s responsibility to ensure that digital signatures and DocuSign are acceptable and binding on Landlord and the Approved Winning Renter.

Brixbid is not a party to any Residential Lease Agreement. Each Residential Lease Agreement is between the Approved Winning Renter and Landlord. The Approved Winning Renter must confirm for him or herself that the Residential Lease Agreement (including all riders to the Residential Lease Agreement) is acceptable. Renters will have the opportunity to review the full lease prior to making Offers.

In no event shall Brixbid be deemed responsible or liable for the failure of any Approved Winning Renter to return or sign a Residential Lease Agreement, for the results of any credit check or background check, for the cancellation of any bid, for the failure of any transaction or rental to be completed, for any decision or statement or action taken by any Landlord, or otherwise for the act or omission of any Landlord, Renter or any other third party, or for the failure of any feature of the Brixbid Platform or Website to work properly.