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DEPOSIT. The Parties agree that a: (check one)  \n☐ -Refundable Deposit is Required. The Buyer shall remit to the Seller, together with this Letter, payment in the amount of $  (the“Deposit”) . The Deposit shall be REFUNDABLE under the following terms:  \n.  \n☐ -Non-Refundable Deposit is Required. The Buyer shall remit to the Seller, together with this Letter, payment in the amount of $ (the “Deposit”) . The Deposit shall be NON-REFUNDABLE.  \n☐ -Deposit is NOT Required. The Buyer shall not be required to make a deposit payment at the time of signing this Letter.  \n6. FINANCING. The Buyer has made it known this Letter is: (check one)  \n☐ -Conditional Upon Financing. This Letter is conditional on the Buyer’s ability to obtain financing. Financing shall be under the following terms:  \n☐ -NOT Conditional Upon Financing. This Letter is not conditional on the Buyer’s ability to obtain financing.  \n7. INTENTION OF THE PARTIES. This Letter sets forth the intentions of the parties to use reasonable efforts to negotiate, in good faith, a Definitive Agreement with respect to all matters herein. Notwithstanding paragraphs 5 through 9, which shall be legally binding, any legal obligations with respect to all other matters shall only arise if and when the Parties execute and deliver a Definitive Agreement.  \n8. GOVERNING LAW. This Letter shall be governed under the laws of the State of  \nCalifornia  \n.  \n9. SIGNATURES.  \nSeller Signature:   Date:   Print Name:    \n01/03/2022  \nKevin Malone","cbCaie20xYlABTbf","https://ap.wps.com/l/cbCaie20xYlABTbf","pdf",709063,"English","# Deposit Requirements\n## Financing Contingencies\n# Intention of the Parties\n# Governing Law\n# Signatures","[{\"question\":\"What are the three options for deposit requirements?\",\"answer\":\"The template allows for selecting a refundable deposit, a non-refundable deposit, or a provision stating that no deposit is required.\"},{\"question\":\"Is this Letter of Intent considered legally binding?\",\"answer\":\"Paragraph 7 specifies that while the letter reflects an intention to negotiate in good faith, legal obligations generally arise only upon the execution of a Definitive Agreement, with the exception of paragraphs 5 through 9, which are stated to be legally binding.\"},{\"question\":\"Which state's laws govern this document?\",\"answer\":\"This Letter of Intent is governed under the laws of the State of California.\"}]","Letter of Intent - Standard Template | PDF"]