Terms of Service

The short version

This summary helps you find the important parts. It matches the full Terms below, and the full Terms control.

• Verifund is software for managing rental property. It is for businesses and the people they invite, all age 18 or older. An organization can sign up only after it requests a demo and we approve it. The people it invites sign up with the email address that was invited.
• Verifund is in free early access. Access is by invitation. There is no card, no free trial, no subscription and no charge (section 5). Early access can end; except after a breach, we will email admins at least 30 days before it does (section 21.3).
• Paid plans are planned, and joining one is always your choice. We plan to offer a paid plan at $23 per organization per month, plus applicable tax, with a 14-day free trial that requires a card. Plans may change before they start. We will email you at least 30 days before any paid plan starts. Paid terms apply only if an admin chooses a paid plan and accepts those terms at checkout. Nobody is moved onto a paid plan or charged unless an admin chooses a paid plan at checkout (section 6).
• You can stop using Verifund at any time. There is nothing to cancel and nothing to pay. An admin can ask us by email for an export of your organization's records or to delete them (section 8).
• Nothing is charged during early access, so there is nothing to refund. If we charge you by mistake, or without an admin choosing a paid plan at checkout, we refund it in full. See our Refund Policy.
• Your records belong to your organization. We process them to provide, secure and support Verifund for you and to meet legal obligations, as section 9 describes. We do not sell them or use them to train AI models.
• You are responsible for your records and for your legal duties as a landlord, manager or sponsor, and for inviting only people who expect it (section 14).
• Verifund is a software tool, not an advisor. It is not a broker, property manager, trust account, bank, money transmitter, law firm, accountant, or tax or financial advisor. Figures Verifund calculates and AI assistant answers can be wrong, so check them against your records. Do not use assistant answers or Verifund's late-payment statistics to screen applicants, decide lease renewals, or make credit, employment or insurance decisions.
• Online rent payment is not currently offered. Verifund does not receive, hold or move money for you or your tenants.
• The Service is provided "as is," and our liability is limited, to the extent the law allows (sections 23 and 24).
• Disputes are resolved by individual arbitration, not class actions or jury trials, with exceptions such as small claims court. You can opt out of arbitration within 30 days (section 26).

If you were invited by an organization

Many people use Verifund because an organization invited them.

• Staff and investors who use the Verifund web app accept these Terms when they first sign in. You do not pay fees. The organization that invited you decides what you can see and when your access ends, and it is responsible for the records it shows you. As a user, you agree to the parts of these Terms that apply to users, including account security (section 4), the AI assistant (section 12), acceptable use (section 16), and sections 23 to 27 on disclaimers, liability, disputes and electronic notices.
• Investors: the property, ownership and distribution figures you see are records the organization entered or that Verifund calculated from them. Verifund does not check them, and they are not investment advice. Ask the organization about them.
• Renters: Verifund is not your landlord and is not a party to your lease. Questions about rent, deposits, repairs or your lease go to your landlord or property manager. These Terms bind you only if you accepted them, for example by checking the box when you signed in to the Verifund web app. If the Verifund renter app shows you its own terms, those terms apply to your use of the app. Section 15 explains the invitation text messages we plan to send, including how to stop them.

Contents

• 1. About these Terms
• 2. Who may use Verifund
• 3. What Verifund is
• 4. Accounts, organizations and admins
• 5. Early access
• 6. When paid plans begin
• 7. Refunds
• 8. Stopping use and deleting your data
• 9. Your data
• 10. Your responsibilities as a landlord or manager
• 11. Verifund is a software tool only
• 12. The AI portfolio assistant
• 13. Rent collection is not currently offered
• 14. Inviting tenants, staff and investors
• 15. Text message terms
• 16. Acceptable use
• 17. Your files and copyright complaints
• 18. Our software, feedback and reviews
• 19. Third-party services
• 20. Preview and beta features
• 21. Suspension and termination
• 22. Data export, retention and deletion
• 23. Disclaimer of warranties
• 24. Limitation of liability
• 25. Indemnity
• 26. Disputes: governing law, arbitration, class-action and jury waivers
• 27. Electronic communications, signatures and notices
• 28. Changes to the Service and these Terms
• 29. General terms
• 30. Contact us

1. About these Terms

1.1 The agreement

These Terms of Service ("Terms") are an agreement between Verifund Technologies LLC, a South Dakota limited liability company based in Sioux Falls, South Dakota ("Verifund," "we," "us" or "our"), and the Customer. They apply to the Verifund web app at www.verifundsolutions.com/verifund, the Verifund renter mobile app, our website, and our related services and support (together, the "Service").

1.2 Who the "Customer," "you," "Authorized Users" and "Team Users" are

The "Customer" is the business, company or other organization that sets up, uses or subscribes to an organization in Verifund. If you manage rentals in your own name, the Customer is you. "Authorized Users" are the people the Customer invites or allows to use its organization, such as staff, investors and renters. "Team Users" are Authorized Users who work for or on behalf of the Customer, such as its admins, members and viewers. Renters and investors are Authorized Users but not Team Users. "You" means the Customer and, where a section is about individual users, each Authorized User. If you accept these Terms for a Customer, you confirm that you have authority to bind it. If you do not have that authority, you accept these Terms personally.

1.3 How you accept

You accept these Terms by checking the box that says you agree and clicking to continue when you first sign in to Verifund, or when we ask you to accept an updated version. That is your electronic signature (section 27). If you do not agree, do not use the Service.

1.4 Business use only

Verifund is for business use: owning, managing or investing in rental property. By creating or using an organization, the Customer confirms that it uses Verifund for that purpose and not for personal, family or household purposes.

1.5 What is part of this agreement

This agreement is made up of:

• these Terms, including the acceptable use rules in section 16;
• our Refund and Cancellation Policy (the "Refund Policy"), which is part of these Terms; and
• if the Customer later chooses a paid plan, the paid plan terms an admin accepts at checkout (section 6).

Our Privacy Policy explains how we collect, use and share personal information. Please read it. It is a notice about our practices, not part of this agreement. Our commitments to the Customer about Customer Data are in section 9. If these Terms and the Refund Policy say different things about charges or refunds, the Refund Policy controls. Paid plan terms that an admin accepts at checkout control over these Terms and the Refund Policy for that paid plan. A separate agreement with Verifund controls where it conflicts with these Terms only if it meets the requirements in section 29 ("Entire agreement").

1.6 Visiting our website or requesting a demo

If you only visit our website or request a demo, our Privacy Policy explains how we handle the information you send us. Requesting or attending a demo does not create an account or commit you or us to anything. Any sample portfolio, figures or assistant answers shown in a demo are for illustration only.

2. Who may use Verifund

2.1 Businesses and the people they invite

The Service is for landlords, property managers and other businesses that own or manage rental property in the United States, and for the Authorized Users they invite. Every user must be at least 18 years old and able to form a binding contract. Staff, investors and renters can join only by invitation from an organization.

2.2 Sign-up is by approval

You cannot sign up for Verifund on your own. Here is how it works:

• You request a demo on our website, giving your name, email address, phone number, city and state, and number of units, and can then book a time on our scheduling page.
• We decide whether to approve sign-up for your email address. If we approve, we email you a link to create your account.
• You create an account with that email address and a password of at least 12 characters, confirm your email address, accept these Terms, and create your organization.
• During early access, there is no checkout, no card and no charge (section 5).

We may decline a demo request or a sign-up for any lawful reason, and we may withdraw an approval at any time before it is used to create an account. After an account exists, we may suspend or end access only as section 21 describes.

3. What Verifund is

Verifund is web-based software that helps an organization keep records about its properties and units; tenants and their names, email addresses and phone numbers; leases and uploaded signed lease documents; rent charges, the payments it records and payments renters report for its review; expenses; reserve and distribution accounts; investor ownership splits and distributions; maintenance requests; a waitlist; and activity logs. It includes an AI portfolio assistant that answers questions about those records (section 12), and it lets the organization invite staff, investors and renters (section 14). Renters use the separate Verifund renter mobile app.

Verifund works from the information an organization and its users enter. Some records are created automatically from that information: for example, Verifund adds each month's rent charge for an active lease when it is due, and marks rent late using its own rules. Verifund does not collect rent, list or advertise rentals, screen applicants, sign leases or serve legal notices (section 11).

4. Accounts, organizations and admins

4.1 Your login

Each login is for one person. Confirm your email address, choose a strong password (the web app requires at least 12 characters), keep it private, and do not share your login. Tell us right away at chasemcdonald@verifundsolutions.com if you think someone used your account without permission. The Customer is responsible for activity under its Team Users' logins, except to the extent it is caused by our failure to meet our security commitments in section 9.6.

4.2 The organization belongs to the Customer

Each organization in Verifund, and the data in it, belongs to the Customer, not to the person who created it or to any user. If an employee or contractor sets up an organization for a business, that business is the Customer.

4.3 Roles and Authorized Users

People in an organization have roles, such as admin, member, viewer, investor or renter, and each role can see and do different things. The Customer is responsible for choosing its Authorized Users, setting their roles, asking us to remove access when it should end, and for its Team Users' use of the Service. The Customer must invite renters and investors only as section 14 allows, but it is not responsible for their own breaches of these Terms.

4.4 What admins can do

Any admin of an organization can invite users and change their roles in the app, ask us by email to remove a user's access, accept updated versions of these Terms for the Customer, ask us for an export of its data, ask us to delete it, and, once paid plans begin, choose whether the organization subscribes. By making someone an admin, the Customer authorizes that person to act for it on these matters, and we may rely on an admin's instructions.

Keep at least one active admin. If admins disagree, or if the Customer loses access to all of its admins, we may ask for reasonable proof of who is authorized, and we may pause changes to the organization, such as deleting it, until that is settled. We will help a Customer we have verified regain control. Any user can stop using Verifund at any time while a disagreement is settled.

4.5 Accurate information

Give us accurate account information, and keep it up to date. Use email addresses that the people at the Customer read, because we send important notices, such as the notice before any paid plan starts, by email (section 27).

5. Early access

Verifund is in early access. During early access, Verifund is free. There is no card to enter, no free trial, no subscription and no charge of any kind, and we do not ask for payment details.

• Access is by invitation. An organization can join only after a demo request and our approval (section 2.2), and its admins invite the other people who use it. We may limit how many organizations and users take part.
• Nothing builds up for later. Free access does not turn into a paid plan on its own, and no fees build up during early access to be charged later.
• Early access can end. Except after a breach, we may end free early access for an organization, or for everyone, by emailing admins at least 30 days in advance (section 21.3). Admins can still ask us for an export (section 22.1).
• Verifund is still being built. Features may be added, changed, limited or removed during early access (section 28.1). Some things these Terms describe as planned, such as paid plans and invitation emails and text messages, are not available yet. Our commitments in section 9 about protecting Customer Data apply during early access.
• You can stop at any time, as section 8 explains.

6. When paid plans begin

6.1 At least 30 days' notice

Before any paid plan starts, we will email your organization's admins at least 30 days in advance. The notice will describe the plan, its price and taxes, any free trial, and how billing, renewal, cancellation and refunds will work, and it will say what happens to organizations that do not choose a paid plan and how to export records first. We will also post the full refund and cancellation policy for paid plans on our website at least 30 days before any charges begin. That notice is not a bill: nothing is owed unless an admin chooses a paid plan and accepts its terms at checkout, and we will not invoice an organization that has not.

6.2 Paid terms apply only if you accept them

Paid plan terms apply only to a Customer whose admin chooses a paid plan and accepts those terms at checkout. No one is moved onto a paid plan, and no one is charged, unless an admin chooses a paid plan and accepts its terms at checkout. Continuing to use Verifund, not replying to a notice, or accepting an updated version of these Terms does not start a paid plan or allow us to charge anyone. If an organization does not choose a paid plan, we will not charge it. If we then end its free access, we will give its admins at least 30 days' notice under section 21.3, and they can still ask us for an export (section 22.1).

6.3 What we plan to offer

We currently plan to offer a paid plan at $23 per organization per month, plus applicable tax, starting with a 14-day free trial that requires a payment card. Each organization would have its own plan. Paid plans are not available yet, and these plans may change before they start. The notice in section 6.1 and the checkout screen will show the actual price, trial and terms, and the full paid plan terms will be presented before anyone subscribes. As planned, a paid plan would continue monthly after the trial until canceled, and the checkout screen will say so before any card is entered.

7. Refunds

Nothing is charged during early access, so there is nothing to refund. If we charge you by mistake, including any charge made when no admin of your organization has chosen a paid plan and accepted its terms at checkout, we will refund the full amount, including any tax on it. To report a charge, email chasemcdonald@verifundsolutions.com with the date, the amount and how the charge appears on your statement. Do not send your full card number or bank details. Our Refund Policy explains how and when we refund.

Nothing in these Terms limits any legal right you have, including your right to dispute a charge with your card issuer or bank, or to bring a claim within the time the law allows.

8. Stopping use and deleting your data

You can stop using Verifund at any time. During early access there is no subscription to cancel, nothing to pay and no fee for stopping. Stopping use, signing out or uninstalling an app does not delete an organization or its data. If you want a copy or deletion:

• To get a copy of your organization's records, an admin can ask us by email for an export (section 22.1). Do this before you ask us to delete anything.
• To delete your organization and its Customer Data, an admin can email chasemcdonald@verifundsolutions.com from the admin's account email address (section 22.3).
• To delete your own login, managers, staff and investors can email us from that login's email address. Renters can delete a login they use only as a renter in the renter app (section 22.3).

Deletion cannot be undone, so export anything you need first.

9. Your data

9.1 Customer Data belongs to the Customer

"Customer Data" means the information and files the Customer and its Authorized Users put into the Service. It includes property and unit details; names and contact details of tenants, occupants, applicants, investors and vendors; leases and uploaded lease documents; rent charges and recorded payments; expenses; reserve and distribution records; investor ownership splits; maintenance requests; waitlist entries; and questions asked of the AI assistant and its answers. As between the Customer and Verifund, the Customer owns and controls Customer Data. The Customer decides what goes in, who in its organization can see it, and when it is deleted. Assistant conversations are an exception: in the app, only the user who had a conversation can see or delete it (section 12).

9.2 Our permission to use it

The Customer gives Verifund permission to host, store, copy, process, transmit and display Customer Data only to provide, secure and support the Service for the Customer, as these Terms describe and as the Customer instructs through its settings and requests. This permission ends when the data is deleted, except for the copies described in section 22.4.

9.3 How we handle Customer Data

For Customer Data, the Customer decides why and how it is used (in privacy-law terms, the Customer is the "controller"), and Verifund processes it for the Customer (the "processor" or "service provider"). We will:

• process Customer Data only on the Customer's documented instructions, which are these Terms, the choices made in the app, and requests from its admins, unless the law requires otherwise;
• use it only to provide, secure, support and fix the Service, to send the messages the Customer asks us to send, to prevent fraud and abuse, to comply with the law, to enforce these Terms and to establish, exercise or defend legal claims, and to transfer it to a successor as section 29 allows. Before such a deal closes, no one outside Verifund reviews Customer Data except in a form that identifies no organization or person;
• not sell it, share it for advertising, or use it for our own marketing (this does not stop us from emailing account holders about Verifund, as our Privacy Policy describes);
• not use it to train AI models, and use only AI providers whose terms do not allow them to train models on it;
• not combine one Customer's tenant records with another Customer's, and not give one landlord another landlord's tenant information or payment history;
• require anyone who works for us and can access Customer Data to agree in writing to keep it confidential, and allow access only when needed for these purposes;
• reasonably help the Customer respond to requests from people to see, correct or delete their information, and meet its own security and breach-notice duties; and
• on reasonable request, and no more than once a year unless a security incident has occurred, give the Customer the information it needs to show that we keep these commitments. We do not currently hold third-party security certifications, such as SOC 2, and we do not offer on-site audits.

If a privacy law that applies to the Customer requires a data processing addendum, contact us.

9.4 Service providers

We use service providers to run the Service. They process Customer Data only to provide their services to us, under terms that require them to protect it. They are:

• Supabase: database, sign-in and sign-in emails, file storage and server functions;
• Railway: hosting for our website and web app;
• Anthropic: the AI assistant;
• Resend: delivering our emails, including invitation emails once they launch; and
• Google: our email and calendar, which hold messages you send us.

When paid plans or text message invitations launch, we plan to add Stripe (payment processing for Verifund's paid plans) and Twilio (text message invitations), and we will tell your admins before either processes Customer Data.

Before we add a service provider not listed here that will process Customer Data, we will tell your admins in advance. If the Customer objects, it may stop using Verifund and ask us to delete its organization (section 8) before the new provider starts processing its Customer Data. Our Privacy Policy also lists services that do not process Customer Data, such as Calendly, which we use to schedule demos.

9.5 Usage data and aggregate statistics

We also collect information about how the Service is used and performs, such as sign-in records, server and error logs, and security logs ("Usage Data"). We use Usage Data to operate, secure, support and improve the Service. We may share or publish aggregate statistics about the Service, such as the total number of organizations using Verifund, that do not identify the Customer, its users, or any tenant or other person. We do not use Customer Data to build de-identified or aggregated data sets for sale, benchmarking or any purpose other than running the Service, and we will not start doing so without the Customer's consent.

9.6 Security

We use reasonable safeguards designed to protect Customer Data. They include encrypted connections (TLS) for data in transit; encryption of stored data by Supabase, which hosts our database and files; and role-based access controls and database rules (row-level security) designed to keep each organization's records separate and limited to the people it authorizes. We continue to work on strengthening these safeguards. If Customer Data is lost or corrupted because of our error, we will make reasonable efforts to restore it from our most recent available backup. No system is perfectly secure, and we cannot promise that Customer Data will never be accessed without permission.

The Customer is responsible for its Team Users' passwords and devices, for asking us to remove access when people leave, and for what its users do with data they export or download.

9.7 Security incidents

If we discover, or have reason to believe, that a security incident led to unauthorized access to, or acquisition of, the Customer's Customer Data, we will investigate promptly. We will notify the Customer's admins without unreasonable delay, and no later than 10 days after we confirm the incident, or sooner if the law requires. We will tell you what we know about what happened and what data was involved, update you as we learn more, take reasonable steps to contain it, and cooperate so you can meet any duty you have to notify tenants, investors, regulators or others. The Customer is responsible for its own notices to those people unless the law makes Verifund responsible. Verifund will give any notices the law requires of Verifund itself, such as notices about users' login credentials.

9.8 Requests from tenants, investors and others

Tenants, applicants, investors and other people whose information is in Customer Data have their relationship with the Customer, not with Verifund. If one of them asks us to see, correct or delete their information, we will usually refer them to the Customer and help the Customer respond, unless the law requires us to act directly. A renter can delete their own renter login in the renter app. That does not delete the Customer's records about their tenancy.

10. Your responsibilities as a landlord or manager

10.1 Accurate records

The Customer is responsible for the accuracy, completeness and legality of the information it and its users enter. Rent charges, balances, late status, credits, deposit amounts, reserve figures, investor splits and distributions shown in Verifund are produced by Verifund's software from the leases, charges and payments your organization enters, using rules (such as when rent is billed and when it counts as late) that may not match your lease, your local law or your records, and that can contain errors. Check them against your lease and records before you send a notice, charge or waive a fee, withhold a deposit, make a distribution, file taxes, or take any other action.

10.2 Following the law

The Customer is responsible for following every law that applies to it as a landlord, property manager or investment sponsor, including:

• landlord-tenant laws, including required notices, late fees, repairs and eviction procedures;
• fair housing laws (section 16.3);
• security deposit laws. Verifund does not hold, return, deduct from or account for security deposits, and deposit figures in Verifund come from what you enter. Deposit limits and return deadlines differ by state and change over time, so check the current law where each property is;
• real estate and property management licensing laws, such as South Dakota's licensing law for brokers and property managers (SDCL chapter 36-21A);
• trust account, escrow and record-keeping rules for money you hold for others. Using Verifund does not meet those rules;
• privacy, data security and breach-notice laws that apply to the information you collect about tenants, applicants and investors, including giving any notices those laws require, such as telling people that you use software providers to keep their records;
• tax, securities and disclosure laws that apply to your investors and distributions; and
• consumer reporting laws, if you screen applicants (section 16.4).

10.3 Verifund does not serve legal notices

Invitations, messages, reminders, balances and stored documents in Verifund are not a way to deliver legal notices. Notices of late rent, default, lease termination, eviction or a right to cure, security deposit statements, and any other notice the law requires must be delivered by you, in the form and manner the law requires.

10.4 Keeping your own records

Verifund is not a record-retention service. Export and keep any records you are legally required to keep, such as rent, deposit, trust account, investor or tax records, especially before you stop using Verifund or delete anything (section 22).

10.5 Consent and sensitive information

Invite only people who expect it and, for any invitation sent by email or text message, only people who agreed to receive it (section 14). Keep highly sensitive information, such as Social Security numbers and bank account numbers, out of Verifund (section 16.5).

11. Verifund is a software tool only

Verifund provides software only. Verifund is not a real estate broker, property manager, residential rental agent, landlord, lender, bank, trust company, escrow agent, money transmitter, law firm, accountant, tax preparer, or tax, investment or financial advisor. It is not a consumer reporting agency or a tenant screening service. We are not a party to your leases or to your agreements with investors, and using Verifund does not create an agency, fiduciary or advisory relationship between us.

• No advice. Nothing in the Service, including the AI assistant, reports, calculations and our support messages, is legal, tax, accounting, investment or financial advice. For advice about your situation, talk to a qualified professional.
• No rental business. Verifund does not list or advertise rentals, negotiate leases, screen applicants, or collect rent for anyone. The waitlist is a record-keeping tool for your own use, not a listing or advertising service.
• No money handling. Verifund does not receive, hold, transfer or pay out money for you, your tenants or your investors. Reserve, distribution and other "accounts" in Verifund are bookkeeping records, not bank, trust or escrow accounts.
• Investor records. Ownership splits and distribution records help you keep your own books and share them with investors you invite. They are not investment advice, an offer of securities, or a statement that any distribution is proper. You are responsible for your agreements with and disclosures to your investors.
• Leases. Verifund stores signed leases you upload. Verifund does not provide electronic signing, and it does not prepare, review or verify leases, check how they were signed, or confirm that they follow the law.
• Not a consumer reporting agency. Verifund does not provide consumer reports or tenant screening, and it does not share tenant information between organizations.

12. The AI portfolio assistant

Verifund includes an AI assistant that answers questions about your organization's portfolio using its Customer Data. It is read-only: it cannot pay, send, schedule or change anything. Please read this section before you rely on it.

• Answers can be wrong. Answers are generated automatically by artificial intelligence. They may be false, incomplete, misleading or out of date, even when they sound confident. Do not rely on any fact, number or name in an answer without checking it against your records.
• Information only. Answers are not legal, tax, accounting, investment or financial advice, and they are not tenant screening.
• Not for screening or eligibility decisions. Do not use the assistant's answers, or summary figures Verifund calculates such as late-payment counts or average days late, to screen applicants, to decide whether to renew a lease or change its terms, or to decide anyone's eligibility for housing, credit, employment or insurance. The assistant is not designed or intended to make or materially influence those decisions. A person at your organization must make them, using lawful criteria and records they have checked, and the Customer is solely responsible for them. Do not start an eviction or other legal action based on an assistant answer. You may use your own rent ledger for a tenant, such as the charges, payments and balance you have checked, to manage and enforce that tenant's lease, including for nonpayment, if you follow the law.
• What is sent to our AI provider. To answer a question, we send the question, earlier messages in that conversation, and relevant portfolio records to our AI provider, Anthropic. Those records can include property and unit names, tenant names, amounts owed and payment history. Anthropic processes them to generate the answer under its commercial terms, which do not allow it to train its models on this data. Our Privacy Policy explains how long it is kept.
• Your conversations. We save conversations so you can return to them. In Verifund, only the user who had a conversation can see it, and our staff look at one only as our Privacy Policy allows. That user can delete a conversation in the assistant, which removes it from Verifund; the copy sent to Anthropic is deleted on the schedule our Privacy Policy describes.
• Limits. We may set reasonable usage limits, and we may change or pause the assistant.

13. Rent collection is not currently offered

Online rent payment is not currently offered through Verifund. Rent and payment amounts in Verifund are records you enter. Verifund does not receive, hold, transfer or guarantee rent, deposits or any other money for you or your tenants. Your tenants pay you directly, by the methods you accept, and you can record those payments in Verifund. Renters can also report payments in the renter app for you to review. Please do not tell tenants or others that Verifund collects or processes rent.

If we offer online payments in the future, they will be optional and will have separate terms that you must accept before using them, including Stripe's Connected Account Agreement and Stripe's own verification.

14. Inviting tenants, staff and investors

14.1 How invitations work

An admin can invite a tenant to the Verifund renter app in Settings by entering the tenant's email address. Verifund then shows a one-time invite code for the admin to give the tenant. Today, Verifund does not send the invitation itself. Admins can also invite staff and investors by entering their email address, and the person then signs up with that address.

We plan to let admins have Verifund send a tenant invitation by email or, using a mobile phone number, by text message. Once that launches, Verifund will send one invitation message for your organization only when someone at your organization chooses the recipient and clicks to send it. An invitation message will name your organization, say the tenant was invited to Verifund, link to the Verifund renter app, and contain no advertising. Verifund will not send an invitation that no one at your organization asked it to send, will not text people on your waitlist, and does not send marketing texts.

14.2 What you confirm each time you invite someone

Each time you create an invitation, you confirm that:

• the person is a current or incoming tenant of that unit, or an adult occupant you are authorizing to use the renter app (or, for a staff or investor invitation, someone who works or invests with your organization and expects the invitation);
• the email address or phone number is theirs, and they gave it to you;
• for a text invitation, they agreed to receive a text message from Verifund, sent for your organization, inviting them to the Verifund renter app at that number, and have not told you or us to stop; and
• they are at least 18 years old.

14.3 What you may not do

• enter an email address or phone number from a list you bought, rented or shared, from another landlord, or collected for a different purpose;
• use the tenant invitation to reach waitlist entries, prospective renters, vendors, or anyone who is not a current or incoming tenant or adult occupant;
• use invitations to send marketing or advertising;
• send invitations again and again to someone who has not accepted, or use them to pressure or harass anyone; or
• try to text a number again after it opted out, for example by entering it in a different format or from another organization.

14.4 Records and responsibility

We keep a record of each invitation, such as the email address it is for, the role, the tenant and lease it relates to, and whether it was accepted, expired or revoked. Once text message invitations launch, we will also record the confirmation shown for each text invitation and when it was given. We rely on your confirmations. The Customer is responsible if they are not true, including under section 25.

15. Text message terms

Text message invitations are not available yet. These terms apply to text messages Verifund sends when an organization invites someone by text message, once text message invitations launch, and to the organizations that send those invitations.

• Program: Verifund tenant invitations. A landlord or property manager who uses Verifund invites you to their organization in the Verifund renter app.
• What we send: one text each time a landlord or property manager sends you an invitation. It names them and links to the Verifund renter app. We do not send marketing texts or any other texts.
• Message frequency: one message per invitation; message frequency varies.
• Message and data rates may apply.
• Help: reply HELP, or email chasemcdonald@verifundsolutions.com.
• Stop: reply STOP to stop receiving texts. You can also reply END, CANCEL, UNSUBSCRIBE, QUIT, REVOKE or OPT OUT, and we honor any other clear request to stop, including by email. We stop texts right away when you reply STOP or another opt-out word, and within 10 business days when you opt out another way, such as by email. We may send one text confirming that you opted out. After that, we will not send any Verifund text to that number, even if a landlord invites you again, unless you tell us you want texts again, for example by replying START.
• Wireless carriers are not liable for delayed or undelivered messages.
• Privacy: We do not share, sell, or provide mobile phone numbers or text messaging opt-in or consent data to third parties or affiliates for their marketing or promotional purposes. Mobile numbers are stored and processed by the service providers that run Verifund for us, and are sent to our text message provider and wireless carriers only to deliver texts. See our Privacy Policy.
• Organizations that send invitations must follow section 14.

16. Acceptable use

These rules apply to the Customer and to every Authorized User. The Customer is responsible for making sure its Team Users know and follow them. Most of the rules come down to three things: be honest, respect the people whose information you manage, and do not try to break or get around the Service.

16.1 No fraud or unlawful use

You may not use the Service to break the law or to mislead anyone. For example, you may not:

• sign up with a false identity, pretend to be another person or business, or claim to manage property you do not own or manage;
• create fake properties, units, tenants, leases or investors, or enter figures you know are false to mislead tenants, investors, lenders or anyone else;
• record a rent payment that was not made, or change records to hide a payment, a charge or a debt;
• create extra organizations or accounts to get around limits;
• use the Service to launder money or carry out any other crime;
• tell tenants, investors or others that Verifund collects, holds, transmits or guarantees rent or other money; or
• use the Service in a way that breaks any federal, state or local law that applies to you.

16.2 No spam or unwanted messages

Any message the Service sends for you must be one the recipient expects. You may not:

• use the Service to send, or to make us send, advertising, promotions or bulk messages by email, text or any other channel;
• put advertising, links, phone numbers or anything unrelated to the tenancy into names or fields that appear in messages, such as your organization, property or unit name;
• send messages that are threatening, harassing, abusive, obscene or deceptive, or that pretend to come from someone else;
• create organizations or accounts to message people you have no tenancy or business relationship with; or
• collect email addresses or phone numbers from the Service to contact people for marketing.

We may limit how many invitations or messages an organization can send in a period of time.

16.3 Fair housing: no discrimination

Verifund does not make rental decisions; you do, and you must follow fair housing laws. The federal Fair Housing Act prohibits discrimination in rental housing because of race, color, religion, sex, familial status, national origin or disability. South Dakota law also protects creed and ancestry, and state and local laws where your properties are may protect more characteristics. You may not use any part of the Service, including records, notes, waitlists, maintenance requests, invitations, messages or the AI assistant, to:

• refuse to rent, renew or negotiate with someone, or offer different rent, deposits, terms, services or repairs, because of a protected characteristic;
• rank, sort, filter or choose applicants, waitlist entries or tenants based on a protected characteristic, or on information used as a stand-in for one;
• write or publish notes, listings or messages that show a preference, limitation or discrimination based on a protected characteristic;
• ask the AI assistant to favor or disfavor anyone because of a protected characteristic, or to guess anyone's protected characteristics; or
• record protected characteristics about applicants or tenants, unless you need to for a lawful reason, such as keeping a tenant's request for a reasonable accommodation. Then record only what is needed.

16.4 No screening or eligibility decisions

You may not:

• use AI assistant answers, or summary figures Verifund calculates (such as late-payment counts or average days late), to screen applicants or to decide whether to rent to someone, renew a lease or change its terms;
• use information from the Service, including assistant answers and exports, to decide anyone's eligibility for credit, employment or insurance, or for any other purpose that requires a consumer report under the Fair Credit Reporting Act;
• use the Service to prepare or share tenant payment histories, ratings or "reliability" summaries for other landlords, property managers, lenders, tenant screening companies or credit bureaus; or
• add another landlord or business to your organization so they can look up a tenant's history.

If you screen applicants, use a screening company that follows the Fair Credit Reporting Act. This section does not stop a person at your organization from reviewing your own lease records and the individual charges and payments you recorded, after checking them, to make lawful decisions about your own tenants. Enforcing a tenant's lease for nonpayment based on your own checked rent ledger is not screening under this section.

16.5 Other people's information and sensitive data

Your organization must have the right to put information into Verifund. You may not:

• enter information about anyone unless you collected it lawfully, it relates to property your organization owns or manages, and you may store it with a software provider;
• upload a lease unless it is a signed lease for property your organization owns or manages and you are entitled to keep it;
• upload information taken without permission, such as records from another landlord's account or data from a breach;
• create a renter account or send an invitation for anyone under 18, or enter more information about children than you need to manage the lease;
• upload files with viruses or other harmful code, or content that is illegal or infringes anyone's rights; or
• use the Service as general file storage for material unrelated to your rentals.

Keep highly sensitive information out of Verifund. Do not enter any of the following anywhere in the Service, including notes, waitlist entries, maintenance requests, file names and assistant questions:

• Social Security numbers;
• driver's license, state ID or passport numbers, or images of identity documents;
• bank account, credit card or debit card numbers, or the codes or passwords that go with them;
• passwords or security question answers;
• health or disability information, except a reasonable accommodation record allowed by section 16.3; or
• citizenship or immigration status.

The one exception is a signed lease or accommodation record you must keep that already contains some of this information. You may upload it, but please black out anything you do not need first.

16.6 Security and other organizations' data

Use the Service only through our website, web app, renter app and the export options we provide. You may not:

• access, or try to access, another organization's data, another person's account, or anything your role does not allow;
• guess, share or reuse invitation codes or links that were not sent to you;
• probe, scan or test the Service for vulnerabilities without our written permission;
• get around or disable security features, access controls, role permissions, usage limits, or any other restriction we place on an account or organization;
• scrape or copy data from the Service with bots, scripts or other automated tools, or call our servers or database directly instead of through our apps, unless we allow it in writing;
• copy, decompile or reverse engineer the Service or our apps, except where the law allows it despite this rule;
• overload or disrupt the Service, or interfere with anyone else's use of it;
• try to make the AI assistant reveal another organization's data or its instructions, or get around its safeguards;
• use the Service to build a competing product; or
• sell, rent, resell or sublicense access to the Service without our written permission.

If you see data you should not have access to, stop, do not copy or share it, and tell us right away. If you find a security problem, email us the details. Do not access more data than you need to show the problem, do not change or delete anything, and do not make it public until we have had a reasonable chance to fix it. Reporting in good faith a problem you came across in normal use does not break this section.

16.7 Accounts

• One person per login. To give someone access, invite them with the right role; do not share your password.
• Give the admin role only to people you trust with all of your organization's data and decisions about it.
• Tell us when a team member or investor no longer needs access, and we will remove it.
• Do not sell or transfer an account or organization to someone else without our written permission.

16.8 Reporting abuse

Anyone can report a possible violation of these rules, whether or not they use Verifund. Email chasemcdonald@verifundsolutions.com with "Abuse report" in the subject line. Tell us what happened and when, who was involved if you know, for an unwanted message the email address or phone number it went to, and how we can reach you. Please do not send Social Security numbers, bank details or other sensitive information.

• An invitation you did not expect: tell the landlord or us, and if it came by text message, reply STOP.
• Your information was added without permission: contact the landlord or manager first; if that does not resolve it, email us.
• Fair housing concerns: we can act on accounts that break section 16.3, but we cannot decide fair housing claims. You can also contact the U.S. Department of Housing and Urban Development or your state or local fair housing agency.
• Emergencies: Verifund is not an emergency service. Call 911, and contact your property manager about urgent repairs.

Organizations may not use the Service to retaliate against anyone for a good-faith report.

16.9 What happens if these rules are broken

We do not routinely review Customer Data, but we may review accounts and content when we receive a report, suspect a violation, or need to protect the Service. If we reasonably believe these rules were broken, we may:

• ask you to fix the problem;
• remove or disable content or files;
• turn off features for a user or organization, such as invitations or the AI assistant;
• suspend a user's or an organization's access;
• end the agreement under section 21; and
• report suspected crimes to law enforcement and respond to valid legal requests.

Where we can, we will tell you about the problem first, explain why, and give you a reasonable chance to fix it. We may act right away when it is needed to stop fraud, protect security or other people's data, stop unwanted or unlawful messages, prevent harm, or comply with the law, and we will tell you afterward unless the law or safety prevents it. We act reasonably and in good faith and limit any action to what is needed. Suspending access does not delete data. We do not charge fines or penalties for breaking these rules.

17. Your files and copyright complaints

17.1 Your files

The Customer keeps all rights in the files and information it uploads. You confirm that you have the rights needed to upload them, including lease documents, and that storing them in Verifund does not break any law or agreement. We may remove or disable access to a file that we reasonably believe breaks these Terms or the law, and we will tell you when we do unless the law prevents it.

17.2 Copyright complaints

If you believe material stored in Verifund infringes your copyright, send us a written notice by email:

Verifund Technologies LLC, Sioux Falls, South Dakota
Email: chasemcdonald@verifundsolutions.com (subject "Copyright notice")

Please include:

• your physical or electronic signature;
• the copyrighted work you believe is infringed;
• the material you believe is infringing, with enough information for us to find it;
• your name, address, phone number and email address;
• a statement that you believe in good faith that the use is not authorized by the copyright owner, its agent or the law; and
• a statement that the information in your notice is accurate and, under penalty of perjury, that you are the copyright owner or are authorized to act for the owner.

If we remove material because of a notice, we will try to tell the user who uploaded it. That user may send us a counter-notice by email, and we may restore the material as the law allows. In appropriate circumstances, we end the accounts of users who repeatedly infringe copyrights.

18. Our software, feedback and reviews

Verifund and its licensors own the Service, including its software, design, text and trademarks, but not Customer Data. While the Customer's organization has access under these Terms, Verifund gives the Customer and its Authorized Users a limited, non-exclusive, non-transferable right, which cannot be sublicensed, to use the Service for the Customer's own rental business under these Terms. We keep all rights not expressly given in these Terms.

If you send us ideas or suggestions, we may use them without owing you anything. That gives us no rights in Customer Data.

Nothing in these Terms limits your right to write or post an honest review of Verifund, and we claim no rights in your reviews.

19. Third-party services

The Service relies on, and links to, services run by other companies, such as app stores for the renter app, Calendly for booking demos, email providers and wireless carriers for messages, Google for web fonts and app components, and, once paid plans begin, Stripe for checkout and billing. When you use a third-party service directly, such as an app store, Calendly or a checkout page, that company's terms and privacy policy also apply. We are not responsible for third-party services we do not control, or for their terms, availability or acts. Subject to sections 24 and 29, we remain responsible for our own obligations under these Terms, including requiring our service providers to protect Customer Data (section 9.4). A provider outage is handled under section 29. A provider's unauthorized use or disclosure of Customer Data is treated as our breach to the extent we did not meet section 9.4 or 9.6.

20. Preview and beta features

We may offer features marked "Preview" or "Beta" in the app. They are optional, may not work as well as other features, and may change, be limited or be removed at any time. Preview and Beta features are provided "as is," with no commitment that they will stay available or be accurate, and they have no separate charge. Do not rely on these features for legal compliance or critical records. Our commitments in section 9 about protecting Customer Data and notifying you of security incidents still apply to data in them.

21. Suspension and termination

21.1 Ending the agreement yourself

The Customer can stop using Verifund at any time and, if it wishes, ask us to delete its organization (section 8). When we delete the organization at an admin's request, this agreement ends for the Customer. An Authorized User can stop at any time by asking the organization or us to remove their access, or asking us to delete their login.

21.2 When we may suspend access

Acting reasonably and in good faith, we may suspend or limit access for a user, a feature or an organization if:

• it materially or repeatedly breaks these Terms, including section 16;
• it creates a security risk, or could harm other customers, tenants or the Service;
• we suspect fraud, unauthorized access or an account takeover;
• it sends unlawful or unwanted messages, or a wireless carrier or a provider we rely on demands that we act; or
• the law, a court order or a government authority requires it.

Where we can, we will tell you first, explain why, and give you at least 10 days to fix the problem. We may act immediately, without advance notice, for a security threat, fraud, unlawful or unwanted messages, or a legal requirement, and we will tell you afterward unless the law or safety prevents it. We limit a suspension to what is needed, for example turning off invitations or the assistant rather than the whole organization, and we lift it once the problem is fixed. Suspension does not delete data. During a suspension, a verified admin can still ask us for an export of Customer Data, unless the law or a court order prevents it. If we suspend or end access for a breach and later find there was none, we restore access.

21.3 When we may end the agreement

• For breach: we may end the Customer's access and this agreement if a material breach is not fixed within 10 days after we give notice, or immediately for serious or repeated violations of section 16, fraud, unlawful messaging, or when the law requires it.
• For any other reason: we may end the Customer's access and this agreement, including by ending free early access, or stop offering the Service, by emailing the Customer's admins at least 30 days in advance.

21.4 What happens when the agreement ends

When the agreement ends, the organization's access to Verifund ends. Nothing is owed for early access. Unless the agreement ended because an admin asked us to delete the organization, a verified admin can ask us by email for an export of Customer Data for at least 30 days after the agreement ends, and we will provide it unless the law or a court order prevents it. This applies even if we ended the agreement because of the Customer's breach. Section 22 then applies.

21.5 What continues after the agreement ends

Sections that by their nature should continue do so, including sections 7, 9 (for as long as we hold Customer Data), 10, 11, 17, 18 and 22 through 30.

22. Data export, retention and deletion

22.1 Exporting your data

Verifund does not have an in-app export yet. Admins, members and viewers can open uploaded signed lease files in the web app and save a copy. For other records, export is available on request by email: an admin can email us from the admin's account email address, and we will send the organization's records as CSV files at no charge, promptly and normally within 10 business days. An admin can ask at any time while the organization's records are in Verifund, including for at least 30 days after this agreement ends (section 21.4). Export any records you must keep before you stop using Verifund, and before you or we delete anything.

22.2 How long we keep Customer Data

An organization's Customer Data stays in Verifund until the organization changes or deletes it, an admin asks us to delete it (section 22.3), or we delete it after the notice described next. Stopping use does not delete it. Other than at an admin's request, when the law requires it, or when we remove content under section 16.9 or 17.1, we delete an organization's Customer Data only after this agreement has ended and the export period in section 21.4 has passed, and we first email its admins at least 30 days in advance so they can ask us for an export. We then delete it from our live systems within 30 days, and copies can remain in backups for up to 30 days after that, except as section 22.4 allows. When paid plans begin, the notice described in section 6.1 will explain what happens to the records of organizations that do not choose a paid plan.

22.3 Asking us to delete data

An admin can ask us at any time to delete the organization and its Customer Data by emailing chasemcdonald@verifundsolutions.com from the admin's account email address with the organization's name. Because deletion cannot be undone, we confirm the request in writing, email every admin of the organization, and wait at least 7 days before deleting so another admin can object; if one does, we may ask for reasonable proof of who is authorized. We delete the data from our live systems within 30 days after the request is confirmed, and copies can remain in backups for up to 30 days after that, except as section 22.4 allows. Deleting an organization ends access to its records for everyone, including the renters and investors it invited. Admins can also remove records, or all of the organization's records, in the app. That does not delete the organization or anyone's login, and it may not remove every stored file or saved assistant conversation.

A manager, staff member or investor can ask us to delete their own login by emailing us from that login's email address, and we delete it within 30 days after we confirm the request. Records they created for an organization stay with that organization. Deleting an investor's login also removes the organization's records of that investor's ownership share and distributions, so we first ask the organization's admins to save or export them. If they are an organization's only admin, we will first ask what should happen to the organization. Renters can delete a login they use only as a renter in the renter app; if the login also has staff or investor access, email us instead. The tenancy records an organization keeps stay with it (section 9.8). Export first.

22.4 What we keep after deletion

Even after deletion, we may keep a few records: records of privacy requests, for up to 7 years after an account or organization closes, or longer if a legal claim, audit or legal hold requires it; email unsubscribes and, once text messages launch, text message opt-outs, for as long as needed to keep honoring them; and technical and security logs for up to 90 days, or longer if we need them to investigate a security incident or abuse. Records of which versions of these Terms and our Privacy Policy a login accepted are kept while that login exists. Once paid plans begin, records of charges, refunds and taxes will be kept on the same 7-year basis. We protect anything we keep under these Terms and use it only for those purposes. Our Privacy Policy describes what else we keep and for how long.

23. DISCLAIMER OF WARRANTIES

We will still work in good faith to keep the Service running, to fix errors we learn about, including calculation errors, and to protect Customer Data as these Terms describe.

24. LIMITATION OF LIABILITY

24.3 What the limits do not cover

The limits in sections 24.1 and 24.2 do not apply to:

• fraud;
• willful injury to a person or property, or intentional misconduct;
• gross negligence, or willful or wanton misconduct;
• liability for a violation of law, to the extent the law (including SDCL 53-9-3) does not allow that liability to be limited;
• claims under consumer protection or deceptive trade practices laws, to the extent those claims cannot be limited by contract;
• the Customer's obligation to pay any fees and taxes it agrees to pay under a paid plan;
• the Customer's obligation under section 25 to defend and pay third-party claims;
• the Customer's liability for a knowing or intentional breach of section 14 (invitations) or section 16 (acceptable use) by the Customer or its Team Users;
• any refund Verifund owes; or
• any other liability that cannot be limited under applicable law.

24.4 Why these limits are part of the deal

Verifund's pricing, including free early access, reflects these limits. During early access, the Customer uses a free, pre-release version of Verifund that is still being built (section 5), pays nothing, can stop using Verifund at any time, can get an export of its data by email, can ask us to delete it, and gets a full refund of any charge made by mistake. These limits are an essential part of the bargain between Verifund and the Customer, and they apply even if a limited remedy fails of its essential purpose, to the extent the law allows. Nothing in these Terms shortens the time either party has to bring a legal claim.

24.5 No personal liability of our people

Verifund's members, managers, employees and contractors are not parties to these Terms and are not personally liable under them, except where the law does not allow that limit, such as for a person's own fraud or willful misconduct.

25. Indemnity

The Customer will defend Verifund and its members, managers, employees and contractors against any claim, demand, lawsuit or proceeding brought by a third party (such as a tenant, applicant, occupant, investor, vendor, wireless carrier or government agency), and will pay the resulting losses, damages, fines, settlements, costs and reasonable attorneys' fees, to the extent the claim arises from:

• Customer Data that the Customer or its Team Users entered, uploaded or shared without the right to do so, or that was inaccurate when they entered it;
• the Customer's rental, property management, leasing and investor activities, including leases, deposits, fees, notices, evictions, licensing, trust accounting, distributions and investor disclosures;
• an invitation, email or text sent through the Service on the Customer's instruction, including a claim that the recipient had not agreed to receive it;
• a violation by the Customer or its Team Users of fair housing, landlord-tenant, privacy, consumer reporting, or telemarketing and messaging laws;
• files the Customer or its Team Users uploaded that infringe or violate anyone's rights; or
• a material breach of these Terms by the Customer or its Team Users.

What this indemnity does not cover. This section does not apply to, and the Customer has no duty to defend, any claim or part of a claim that alleges a security incident in systems Verifund or its service providers operate, a defect or error in the Service, or Verifund's own negligence, gross negligence, fraud, willful misconduct or breach of these Terms. A claim that a message Verifund sent on the Customer's instruction broke a messaging law is covered to the extent it arises from the Customer's instruction or from a confirmation under section 14.2 that was not true, but not to the extent it arises from Verifund's own error, such as sending a message no one at the Customer asked for, or texting a number after it opted out. If a claim includes both covered and excluded allegations, each party defends itself and bears its share of any loss in proportion to its fault. The Customer does not indemnify Verifund for a fine or penalty imposed for Verifund's own violation of law where SDCL 53-9-3 or other law does not allow it. Each item in the list above is a separate obligation; if one is unenforceable, the others still apply.

How it works. Verifund will tell the Customer promptly about the claim; a delay relieves the Customer only to the extent the delay harms it. The Customer will control the defense with a lawyer reasonably acceptable to Verifund, and Verifund will cooperate at the Customer's expense. Verifund may take part with its own lawyer at its own expense, or at the Customer's expense if the Customer's lawyer has a conflict of interest. The Customer may not settle a claim in a way that admits fault by Verifund, or requires Verifund to pay money or to take or stop any action, without Verifund's written consent. If the Customer does not defend a claim promptly after Verifund asks, Verifund may defend and settle it reasonably, and the Customer will pay the costs and any settlement or judgment covered by this section.

26. DISPUTES: GOVERNING LAW, ARBITRATION, CLASS-ACTION AND JURY WAIVERS

26.1 Governing law

These Terms, and any dispute arising out of or relating to them or the Service, are governed by the laws of the State of South Dakota and applicable federal law, without regard to conflict-of-law rules. The Federal Arbitration Act governs sections 26.4 through 26.9. If a court decides the Federal Arbitration Act does not apply, the South Dakota Uniform Arbitration Act, SDCL chapter 21-25A, governs them. Nothing in these Terms takes away a right that the law of the Customer's state gives it and that cannot be waived by contract, such as a non-waivable consumer protection or automatic renewal right.

26.2 Talk to us first

Most problems can be solved quickly. Before starting an arbitration, the party with the dispute must send the other a written notice: to Verifund by email to chasemcdonald@verifundsolutions.com, or to you at your account email address. The notice must give the name of the person and organization, the account email address, a description of the dispute, and the relief requested. For 30 days after the notice is received, we will both try in good faith to resolve the dispute informally. Every deadline for bringing the claim is paused during those 30 days. For a dispute that will be decided in court, we ask that you write to us first, but you do not have to, and writing to us does not change any deadline.

26.3 Who this section applies to

Section 26 applies to disputes between Verifund and the Customer, and between Verifund and any Authorized User who accepted these Terms. It does not apply to a person who has not accepted these Terms, such as a tenant who only received an invitation. In this section, "Verifund" includes its members, managers, employees and contractors for claims about their work for Verifund.

26.4 Agreement to arbitrate

Verifund and you agree that any dispute, claim or controversy arising out of or relating to these Terms, the Service or billing, whether based on contract, tort, statute or any other legal theory, will be resolved by binding individual arbitration, except as section 26.5 says. This includes disputes about events before you accepted these Terms, but not a dispute that was already filed in court or arbitration, or described in a notice under section 26.2, before you first accepted a version of these Terms, dated September 24, 2026 or later, containing this agreement to arbitrate. In arbitration there is no judge or jury, and a court's review of the result is limited. The arbitrator can award the same individual damages and relief a court could, must follow the law and these Terms, and must issue a written decision. Judgment on the award may be entered in any court with jurisdiction.

26.5 Exceptions

Either party may instead:

• bring an individual claim in small claims court in the county where the Customer has its principal place of business or in Minnehaha County, South Dakota, as long as the claim stays there on an individual basis;
• ask a court for an urgent order to stop unauthorized access to the Service or an account, a security threat, or the infringement or misuse of intellectual property, while the rest of the dispute is arbitrated; or
• bring a claim that the law does not allow to be arbitrated under a pre-dispute agreement.

If a small claims case is transferred, removed or appealed to another court, the claim is then resolved under section 26.4, unless you opted out of arbitration under section 26.8.

26.6 How arbitration works

• The American Arbitration Association ("AAA") administers the arbitration under its Commercial Arbitration Rules, or its Consumer Arbitration Rules if the AAA decides they apply, as in effect when the arbitration starts, except as this section changes them. The rules are available at adr.org.
• There is one arbitrator.
• Hearings are held by video or phone, or the case is decided on written submissions, unless the arbitrator decides an in-person hearing is needed. An in-person hearing is held in Sioux Falls, South Dakota, or, if the Customer is an individual, in the county where the Customer lives, unless we both agree otherwise. The place of arbitration is Minnehaha County, South Dakota, even when hearings are held by video or phone or in another county.
• Each party may be represented by a lawyer.
• An arbitration may be started within the same time the law would allow for bringing the claim in court.
• Fees are paid under the AAA's rules. However, if you start an arbitration for a claim of $10,000 or less, Verifund will pay the AAA's filing, administration and arbitrator fees beyond the amount you would have paid to file the claim in court, unless the arbitrator decides the claim was frivolous or brought for an improper purpose. For any claim, if you show that the fees you would pay under the AAA's rules are so high that they would stop you from bringing your claim, Verifund will pay the part of those fees the arbitrator decides is needed to make arbitration affordable for you. Each party pays its own lawyers' fees unless the law or the AAA's rules allow the arbitrator to award them.
• The arbitrator decides whether a dispute must be arbitrated, including the scope and enforceability of this agreement to arbitrate, except that a court decides whether the class-action waiver in section 26.7 is enforceable, whether a claim falls within an exception in section 26.5, whether a party validly opted out under section 26.8, and questions about section 26.9.

26.7 CLASS-ACTION WAIVER

IN ANY ARBITRATION UNDER THIS SECTION, VERIFUND AND YOU MAY BRING CLAIMS AGAINST EACH OTHER ONLY IN AN INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF, CLAIMANT OR CLASS MEMBER IN ANY CLASS, COLLECTIVE, CONSOLIDATED OR REPRESENTATIVE PROCEEDING. The arbitrator may not combine more than one party's claims or preside over any class, collective or representative proceeding, unless all parties agree in writing. If a court decides that this class-action waiver cannot be enforced for a particular claim or remedy, then that claim or remedy, and only that one, will be decided by a court under section 26.10 and never in a class arbitration, and either party may ask the court to pause that case until the individual arbitration of the other claims ends.

26.8 Opting out of arbitration

You can opt out of this agreement to arbitrate by emailing chasemcdonald@verifundsolutions.com with the subject "Arbitration opt-out" within 30 days after you first accept a version of these Terms, dated September 24, 2026 or later, that contains an agreement to arbitrate. Include your name, your organization's name, your account email address, and a clear statement that you opt out of arbitration. Your opt-out is effective when you send it. We will confirm it by email within 5 business days; if you do not receive our confirmation, email it again. An admin's opt-out covers the Customer and its Team Users, and any Authorized User can also opt out for themselves. Opting out does not affect any other part of these Terms, and it stays in effect for later versions of these Terms. If you opt out, disputes will be decided in court under section 26.10, and section 26.7 does not apply to them.

26.9 Many similar cases

If 25 or more demands for arbitration raising similar claims are filed against or by Verifund with the help of the same or coordinated lawyers or organizations, the AAA's Mass Arbitration Supplementary Rules apply to the extent the AAA applies them, and the cases may be administered in batches. Every deadline for bringing a claim is paused for claims waiting to be filed or heard under this process. No one is bound by the result of an arbitration in which they were not a party.

26.10 Courts

Disputes that are not arbitrated, including claims under the exceptions in section 26.5 (other than small claims), disputes involving anyone who opted out, and any claim a court decides cannot be arbitrated, must be brought only in the circuit court for Minnehaha County, South Dakota (Second Judicial Circuit), or in the United States District Court for the District of South Dakota, Southern Division. Verifund and you each consent to the personal jurisdiction of those courts. Small claims may be brought as section 26.5 allows. If a court decides that requiring these courts is unenforceable, Verifund and you still consent to the personal jurisdiction of these courts, either of us may bring the dispute there, and the rest of these Terms still apply.

26.11 JURY TRIAL WAIVER

VERIFUND AND YOU KNOWINGLY AND VOLUNTARILY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY COURT CASE BETWEEN US ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICE, TO THE EXTENT THE LAW ALLOWS. This waiver is separate from the agreement to arbitrate. If it is not enforced, sections 26.4 to 26.9 still apply, and if the agreement to arbitrate is not enforced, this waiver still applies to the extent the law allows.

26.12 Deadlines

Nothing in these Terms shortens the time either party has under the law to bring a claim.

26.13 Changes to this section

If we change section 26 after you accept these Terms, you may reject the change by emailing us within 30 days after the change takes effect. Your disputes will then continue to be governed by the version of section 26 you last accepted, unless you opted out of arbitration.

27. Electronic communications, signatures and notices

27.1 Agreeing electronically

You agree to do business with Verifund electronically. Checking a box or clicking a button to accept these Terms, or later to accept a paid plan at checkout, is your electronic signature, and it has the same effect as signing on paper. When you accept for a Customer, your signature binds the Customer. We keep a record of the account that accepted, the version accepted, the time, and browser information, for as long as that login exists. You can save or print these Terms from this page at any time, and you can ask us for a copy of any earlier version.

27.2 Notices and messages from us

We send agreements, the notice before any paid plan starts, notices before we end access or delete data, notices of changes to these Terms, security notices and other account messages by email to your account email address or to your organization's admins. We may also show notices in the app. These messages count as written notice and are effective when sent. If we learn that an important notice was not delivered, we will try to reach the Customer another way, such as another admin's email address. Because a paid plan starts only when an admin accepts it at checkout (section 6.2), a notice that does not arrive cannot start a paid plan or a charge. Keep your email address current. These messages are part of the Service and cannot be turned off while your account is active. Marketing emails, if we send any, always include a way to unsubscribe.

27.3 Paper copies and withdrawing consent

You need internet access, a current web browser and an email account to use Verifund and receive these messages. You can ask us by email for a paper copy of these Terms or of any notice at no charge; tell us where to send it. You may withdraw your agreement to do business electronically at any time by stopping use of Verifund and asking us to close your account (section 8); because Verifund is an online-only service, we cannot provide it otherwise. Withdrawing does not affect anything already delivered or signed electronically.

27.4 Notices to us

Send notices to Verifund by email to chasemcdonald@verifundsolutions.com. Email is enough, including for a notice of a legal claim or of a dispute under section 26.2. Except as section 26.8 says for arbitration opt-outs, notices to us are effective when we receive them.

27.5 Mistakes when you sign up

You can review and correct your information before you confirm your account. If you notice a mistake later, tell us promptly.

28. Changes to the Service and these Terms

28.1 Changes to the Service

We improve Verifund over time and may add, change or remove features, especially during early access (section 5). If a change materially reduces the core Service, we will tell the Customer's admins in advance where practical, and the Customer can stop using Verifund and ask us for an export or deletion of its data (section 8).

28.2 Changes to these Terms

We may update these Terms, including the Refund Policy. When we publish a new version, we will post it here with a new "Last updated" date, and once it takes effect, the Verifund web app will ask each user to accept it. For a material change, such as one that reduces your rights or adds to your obligations, we will also email the Customer's admins at least 30 days before it takes effect.

• Only an admin's acceptance binds the Customer to a new version. Until an admin accepts it, the version an admin last accepted continues to govern the Customer, except for changes that only help the Customer or that the law requires. Each other user is bound by the version they last accepted.
• You do not have to accept an updated version. You can stop using Verifund at any time, and an admin can still ask us by email for an export or deletion of Customer Data without accepting it. We will ask for acceptance in the web app only once a new version takes effect. From then on, the web app asks you to accept it before you can keep using the web app.
• If no admin has accepted a new version by the time it takes effect, we may end the agreement under section 21.3, which requires at least 30 days' notice.
• Accepting an updated version of these Terms does not by itself start a paid plan or allow a charge. Paid plans follow section 6. We may make a change to these Terms sooner than this section describes if the law requires it or to address a security risk, and we will tell you as soon as we can.

28.3 Limits on changes

Except as section 26.4 says, a change to these Terms does not apply to a dispute that arose, or to a claim either of us gave notice of, before the change took effect. Changes to section 26 also follow section 26.13. We will not use Customer Data we already hold in a materially different way than these Terms allow, such as sharing it with new kinds of third parties or using it to train AI models, without the Customer's consent.

29. General terms

• Entire agreement. These Terms and the Refund Policy, together with any paid plan terms an admin accepts at checkout (section 1.5), are the entire agreement between Verifund and the Customer about the Service, and they replace earlier proposals and communications about it. A separate agreement controls where it conflicts with these Terms only if it is in writing, says that it changes these Terms, and is signed (including electronically) by an authorized representative of each party. An email or chat message alone does not change these Terms. Nothing in this section limits liability for fraud.
• Pilot and demo access. These Terms apply to early access and to any pilot access we give an organization, except where a separate agreement that meets the requirements above says otherwise. Demo organizations and sample data may be reset or removed at any time.
• Severability. If a court or arbitrator finds part of these Terms unenforceable, that part will be enforced to the greatest extent the law allows, and the rest stays in effect, except as section 26.7 says for the class-action waiver.
• No waiver. If either party does not enforce a right right away, it does not give up that right.
• Assignment. The Customer may not assign or transfer these Terms or its organization without our written consent, which we will not unreasonably withhold for a sale of the Customer's whole rental business if we are told in advance. Any other attempted transfer is void. Verifund may assign these Terms to an affiliate or to a successor in a merger, acquisition or sale of substantially all of the related business, with notice to the Customer, if the successor keeps our commitments about Customer Data. These Terms bind permitted successors.
• Events outside a party's control. Neither party is responsible for a delay or failure caused by events beyond its reasonable control, including natural disasters, epidemics, war, terrorism, civil unrest, government orders, labor disputes not involving its own workers, failures of utilities, the internet, or hosting, cloud or other providers that it did not cause, and cyberattacks that occur despite reasonable safeguards. The affected party will give prompt notice and use reasonable efforts to resume. This does not excuse Verifund's duties to protect Customer Data and give notice of security incidents. If the event lasts more than 30 days, either party may end the agreement.
• Independent parties. Verifund and the Customer are independent. These Terms do not create a partnership, joint venture, agency, fiduciary or employment relationship.
• No third-party beneficiaries. These Terms are for the benefit of Verifund and the Customer only. Tenants, applicants, investors, vendors and other people whose information is in Verifund are not third-party beneficiaries and cannot enforce these Terms. The only exception is the people sections 24, 25 and 26 protect.
• Export controls and sanctions. The Service is offered for rental property and users in the United States. The Customer confirms that it and its users are not located in, organized under the laws of, or ordinarily resident in a country or region subject to comprehensive U.S. sanctions, and are not on a U.S. government restricted-party list, such as the Treasury Department's Specially Designated Nationals List or the Commerce Department's Entity List. The Customer will not use or export the Service in violation of U.S. export or sanctions laws, and we may suspend access to comply with them.
• Interpretation. Headings and the summary at the top are for convenience; the full text of each section controls. "Including" means "including but not limited to."

30. Contact us

Questions about these Terms, early access or your account? Email us. We handle questions, requests and notices by email.

Verifund Technologies LLC
Sioux Falls, South Dakota
chasemcdonald@verifundsolutions.com

If you have trouble reading this page or need these Terms in another format, email us, and we will provide them in a format you can use.