DISCLOSURE REGARDING THE CENTURY CLUB AND OTHER REAL ESTATE DEVELOPMENT PROJECTS DEPICTED OR DESCRIBED ON THIS WEBSITE
The Century Club is being developed by [Balsams View, LLC or Balsams Resort Properties, LLC, a subsidiary of Balsams Resort Holdings, LLC] (“Developer”). The Developer is the owner of certain property located at and known as the Hampshire House and the Dix House located at the Balsams Resort (“Resort”) in the Town of Dixville, Coos County, State of New Hampshire, which Developer intends to redevelop, renovate and convert into a condominium to be established pursuant to N.H. R.S.A. 356-B (the “Project”), with residential units in the Project to be offered and sold in a fractional form of ownership as described in Ownership, together with membership in The Century Club, a private membership club being established by the Seller as more specifically described in Ownership.
The Project and The Century Club Units have not been registered with the New Hampshire Consumer and Antitrust Bureau of the Attorney General’s Office, Department of Justice, and until such registration has occurred only non-binding reservation agreements may be accepted.
Only non-binding reservations to purchase The Century Club Units are being offered at this time. The deposit made upon signing a non-binding reservation is refundable at any time upon request and the reservation may be cancelled at any time and for any reason, or without reason, by the purchaser without penalty.
Information and plans pertaining to the proposed development of the Project as described on this website, together with depictions of improvements, amenities, privileges, land uses and public and private facilities related to the Project and The Century Club (“Improvements”) are conceptual only, with development of the Improvements being subject to governmental approvals and market factors. The development of the Project and the Improvements is expected to take many years and development plans will likely be modified from time to time to respond to varying market conditions and changes in circumstances, such that the Developer reserves the right to modify or abandon plans for the proposed development (in whole or in part) at any time without notice. Nothing in these materials obligates Developer or any other entity to build any facilities or Improvements described herein, and there is no guarantee that any described proposed development or Improvements will be implemented. Some or all of the proposed amenities and Improvements described on this website have not yet been constructed. No guarantee is made that the features, amenities and Improvements described will be built, or, if built, will be the same type, size, or nature as described. The information and materials described herein, together with any communication made or given in connection with any of the foregoing, is not a representation or warranty and may not otherwise be relied upon as such.
All prices are subject to change without notice.
Prior to making any legally binding commitment to purchase any Century Club Units, the Developer will provide you with a detailed offering statement, prospectus and property report as required by New Hampshire law and any other applicable law. You should read that report carefully before signing any legally binding commitments to purchase The Century Club Units.
No federal or state agency has judged the merits or value, if any, of the Project or The Century Club Units. Information contained in this website does not constitute an offer to sell real estate, and the information and materials contained herein are intended to provide only general information about our proposed plans.
This is not intended to be an offer to sell nor a solicitation of offers to buy Century Club Units by residents of New York, New Jersey, Idaho, Illinois, Oregon or Hawaii, or any other jurisdiction where prior registration is required or where otherwise prohibited by law.
The offering statement, prospectus and property report made available prior to conversion of non-binding reservations to binding purchase and sale agreements, and prior to any other binding legal commitment being requested of potential purchasers, will contain a detailed description of the improvements, amenities, land uses, privileges and public and private facilities associated with the Century Club Units being offered, and will conspicuously disclose any that are not required to be built prior to closing on The Century Club Units. For Massachusetts residents, please note that such improvements will be labeled “NEED NOT BE BUILT.” For Rhode Island residents, please note that THIS IS NOT AN OFFERING PROTECTED BY THE RHODE ISLAND REAL ESTATE TIME-SHARE ACT.
NON-BINDING RESERVATION AGREEMENT - RECITALS
A. The Seller’s parent company, Dixville Capital, LLC, has an option to acquire the owner of certain property located at and known as the Hampshire House and the Dix House located at the Balsams Resort (“Resort”) in the Town of Dixville, Coos County, State of New Hampshire, which Seller intends to redevelop, renovate and convert into a condominium to be established pursuant to N.H. R.S.A. 356-B (the “Project”), with residential units in the Project to be offered and sold in a fractional form of ownership (the “Century Club Units”), together with the option to become a member in the Century Club, a private membership club being established by the Seller (the “Century Club”).
B. The condominium has not yet been declared or established, and the redevelopment, restoration and conversion of the Project has not commenced and is not completed.
C. Buyer desires to enter into a nonbinding, fully refundable reservation agreement for the purchase of a Century Club Unit on the terms and conditions set forth herein.
AGREEMENT
In consideration of the mutual promises set forth herein, the parties agree as follows:
1. The Seller agrees to enter into this non-binding agreement for the Purchase and Sale of a Century Club Unit in either the Hampshire House or Dix House. Final pricing has not been determined, and Seller expressly reserves the right to increase the purchase price for the Century Club Unit prior to execution of a binding Purchase and Sale Agreement with respect to the Century Club Unit.
2. The Buyer shall have fifteen (15) days from receipt of delivery by Seller of a certificate of registration or exemption for the Century Club Unit and a draft Purchase and Sale Agreement to enter into a binding Purchase and Sale Agreement with respect to the Century Club Unit with Seller or its assigns. The Purchase and Sale Agreement will provide the Buyer with the option to become a member in the Century Club in connection with the purchase of the Century Club Unit on the terms and conditions set forth therein. If a binding Purchase and Sale Agreement is not entered into within said fifteen (15) day period, at the option of the Seller or its assigns, this nonbinding reservation shall become null and void and the Seller shall be entitled to sell the Century Club Unit to any other purchaser and shall not be required to continue with the nonbinding reservation in favor of Buyer. It is agreed between the parties that time shall be of the essence in entering into the binding Purchase and Sales Agreement described herein.
3. This Nonbinding Reservation Agreement is in no way binding on the Buyer and may be cancelled without penalty at the sole discretion of the Buyer for any reason or no reason at all by written notice, hand delivered, email with receipt confirmed, or sent by United States mail, return receipt requested, to the Seller or to any agent of the Seller at any time prior to the formation of the binding contract for the sale or lease of any interest in the Century Club Units, including the Century Club Unit. The Century Club Units are not yet registered or exempted by the New Hampshire attorney general's office, and until such registration or exemption is ordered, no binding contract for sale or lease of any interest in any of the Century Club Units (including without limitation the Century Club Unit) may be created.
4. Buyer acknowledges and agrees that Seller has not commenced the redevelopment and renovation of the Project, and that Seller shall have and hereby reserves the right to terminate this Nonbinding Reservation Agreement for any reason, or without reason. The Seller’s decision to proceed with the Project will be made by Seller in its sole discretion.
5. As consideration for this nonbinding reservation, the Buyer, upon the execution of this reservation has deposited with the Seller the sum of Twelve Hundred Dollars ($1,200.00) as a deposit toward the purchase of the Century Club Unit. All deposits will be held in a segregated non-interest bearing account held by Hampshire Dix House, LLC with Service Federal Credit Union (SCU), 3003 Lafayette Road; Portsmouth, NH 03801. The deposit is completely refundable at any time prior to the execution of the binding Purchase and Sales Agreement referenced herein. Additionally, should this Nonbinding Reservation Agreement be terminated by either Buyer or Seller, Buyer's deposit shall be refunded and neither party shall have any claim, action or cause of action against the other as a result of this nonbinding reservation. Any deposit made under this Nonbinding Reservation Agreement shall be held in escrow as noted above, and shall be returned by the Seller no later than ten (10) days following termination of this Nonbinding Reservation Agreement.
6. Buyer may not assign Buyer’s rights and obligations hereunder without prior written approval by Seller, which shall not be unreasonably withheld or conditioned.
