Free Brief in Support of Motion - District Court of Colorado - Colorado

Case 1:03-cv-02485-MSK-PAC

Document 339-45

Filed 01/31/2006

Page 1 of 2

EXHIBIT E

Case 1:03-cv-02485-MSK-PAC

Document 339-45

Filed 01/31/2006

Page 2 of 2

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Upon such termination Heartland shall continue to process all mortgage loan applications taken by the Employee for Heartland through the date of such termination.
(b) Upon a termination without cause, any loan that funds within 15 days of the date of such termination shall earn the Employee a full commission as set forth herein. After such 15 day penod and continuing through the 30th day from such termination, the commission nonnally paid to the Employee will be reduced by one half. After such period no further compensation wil be paid to the Employee. During such penod after termination the Employee shall not be paid for a loan application taken on behalf ofthe Employer pnor to tennination in the event that
the Employee solicits the same customer for a new loan for a new employer of the Employee.

(c) Subject to applicable law, in the event of a termination with cause due to fraud in the
origination of a residential mortgage, or misappropriation

of client monies the Employee shall be

paid only for loans which have closed prior to or on the date of such tennination with cause.

6. EMPLOYEE=S DUTIES: The Employee agrees to actively engage on a full time mortgage loans to the general public'and to assist in the processing of basis in the origination of each loan application he originates. The Employee further agrees to maintatn current records of law, to maintain loan fies in all applications in compliance with applicable state and federal compliance with the policies and procedures set forth by the Employer, to follow all policies and procedures set forth by the Employer, not to make any representations or commitments on behalf
of the Employer, and at all times, to uphold the good name and reputation of

the Employer, In

addition the Employee shall pursuant to the policies and procedures of

the Employer:

a. Arrange and/or attend closing of said Loans; and
b. Collect all monies due and owing to Heartland as a result of each Loan transaction.
c. Take all Loan applications in the name of

Hearland and on behalf of

Heartland.
d. Remain current in issues relating to mortgage onginations and investor requirements and to comply with all applicable state licensing requirements and continuing

education requirements of those states in which this Agreement wil be perfonned.
e. Comply with all policies and procedures of verification of

the Employer which relate to the

hours worked and pre-approved overtime hours.

!nt. C. Z /

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