TERMS OF USE

This web site is provided for your information and use, and we hope you enjoy using it. Please browse the web site and make use of its various features, but please be aware that your use of the web site is subject to the following terms and conditions. If you do not agree to these terms and conditions, please do not use this web site.

1. Ownership and Operation. This web site belongs to HanoverTrade (the "Company"). The Company may, in its sole discretion and at any time, modify or discontinue this web site or specific portions of it.

2. Agreement To Be Bound. Your use of this web site constitutes your agreement with the Company to be bound by, and to act in accordance with, these Terms of Use.

3. Continuing Agreement. We may change or revise these Terms of Use from time to time by updating this posting, so please visit this area from time to time to keep up to date with the current terms regarding your use of the web site. Your use of the web site reaffirms your continuing agreement to the then current Terms of Use.

4. Use of Site Materials. The Company owns the copyright for all of the material on the web site or has a valid right from a third party to use material on the web site. The Company also owns all trademarks, servicemarks, and trade names used on this web site. No part of the web site may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy of the materials on any single computer for your personal, non-commercial home use only, provided you keep intact all copyright, trademark and other proprietary notices on the materials. Any modification of the materials or use of the materials for any other purpose is a violation of the Company’s copyright and other proprietary rights. The use of any such material on any other web site or computer network without the Company’s written consent is prohibited. Your use of the trademarks, servicemarks and trade names on this web site in any manner other than as authorized in these terms and conditions, or as authorized in writing by the Company, is strictly prohibited.

5. Our Products: The Company is an electronic commerce company providing Members of its web site the ability to trade bulk pools of whole loan mortgages. The Company provides its Members an online "real time" trading exchange and acts as an online clearinghouse for loans available for sale by matching institutional buyers and sellers. The Company is an active market place for its Members who are comprised of financial companies and qualified persons. In order to trade loans on this web site you must become a member. To return to the web site you were visiting, press the back button on your browser.

6. Downloaded Software. If you download software from this web site, the software and all files, images and data relating to the software will be licensed to you by the Company. You do not own the downloaded software, and the Company does not transfer ownership of the Software to you. The Company retains full ownership of and title to the downloaded software and all intellectual property rights related to the software. You may not redistribute, sell, decompile, reverse engineer, disassemble, or otherwise reduce the software to a human-perceivable form. Software that is downloaded from this web site is subject to United States export control laws. If you download software from this web site, you represent and warrant to the Company that you are not acting in violation of those laws.

7. Submissions: All comments, suggestions, graphics, ideas (including product and advertising ideas), and other information or materials you submit to the Company through this web site will become and remain the exclusive property of the Company, including any future rights associated with such submissions, even if these Terms of Use are later modified or terminated. This means that you disclaim any proprietary rights in such submissions, and you acknowledge the Company’s unrestricted right to use them (or materials or ideas similar to them) in any medium, now and in the future, without notice, compensation or other obligation to you or any other person. It also means the Company has no obligation to keep your submissions confidential.

8. Geographic Scope of Site: The Company controls and operates this web site from within the United States of America. Unless otherwise specified on or by this web site, this web site is intended to promote only those Company products that are sold by the Company in the United States and its territories, and the Company makes no representation that materials in this web site or the products described thereby are appropriate or available for use in other locations. All visitors to this web site are responsible for compliance with all local laws applicable to them with respect to the content and operation of this web site.

9. Links to Other Sites: For your convenience and enjoyment, this web site may provide links to other web sites on the World Wide Web. These links do not mean that the Company endorses, approves or sponsors any information available at the linked site or any products that may be sold there, nor is the Company liable for any damage that might result from your use of such information or products.

10. Privacy: For information on how the Company uses and protects the personal information you may provide on this web site, please click on this link to the Company's privacy policy. You may not use this web site to collect or harvest personal information about other persons or otherwise use the web site in a manner that is inconsistent with their privacy or personal data protection rights.

11. Contents of the Web site - Disclaimer: THE MATERIALS IN THIS WEB SITE (INCLUDING ANY GRAPHICS) AND ANY MATERIALS MADE AVAILABLE THROUGH THIS WEB SITE ARE PROVIDED "AS IS" AND WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, THE COMPANY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT. THE COMPANY DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE OR THE RESULTS OF THE USE OF THE MATERIALS IN THIS WEB SITE IN TERMS OF THEIR CORRECTNESS, ACCURACY, RELIABILITY, OR OTHERWISE. THE MATERIALS IN THIS WEB SITE COULD INCLUDE TECHNICAL INACCURACIES OR TYPOGRAPHICAL ERRORS. THESE MATERIALS COULD BECOME INACCURATE AS A RESULT OF DEVELOPMENTS OCCURRING AFTER THEIR RESPECTIVE DATES. THE COMPANY UNDERTAKES NO OBLIGATION TO MAINTAIN THE CURRENCY OF SUCH INFORMATION.

CERTAIN LINKS IN THIS WEB SITE MAY LINK YOU TO OTHER SITES ON THE WORLD WIDE WEB. THE LINKED SITES ARE NOT UNDER THE CONTROL OF THE COMPANY AND THE COMPANY IS NOT RESPONSIBLE FOR THE CONTENTS OF ANY LINKED SITE OR ANY LINK CONTAINED IN A LINKED SITE, OR ANY CHANGES OR UPDATES TO SUCH SITES. THE COMPANY IS NOT RESPONSIBLE FOR WEBCASTING OR ANY OTHER FORM OF TRANSMISSION RECEIVED FROM ANY LINKED SITE. THE COMPANY IS PROVIDING THESE LINKS TO YOU ONLY AS A CONVENIENCE, AND THE INCLUSION OF ANY LINK DOES NOT IMPLY A REFERRAL BY THE COMPANY TO, OR AN ENDORSEMENT BY THE COMPANY OF, THE LINKED SITE.

12. Operation of the Web site - Disclaimer: The Company endeavors to maintain this web site and its operation, but is not, and cannot be, responsible for the results of any defects that may exist in the web site or its operation. AS TO THE OPERATION OF THE WEB SITE, THE COMPANY EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THE COMPANY MAKES NO WARRANTY THAT (i) THE OPERATION OF THE WEB SITE WILL MEET THE USER’S REQUIREMENTS; (ii) ACCESS TO THE WEB SITE WILL BE UNINTERRUPTED, TIMELY, SECURE, FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR FREE OF ERRORS; (iii) THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE WEB SITE WILL BE ACCURATE OR RELIABLE; OR (iv) DEFECTS WILL BE CORRECTED. YOU (AND NOT THE COMPANY) ASSUME THE ENTIRE COST OF ALL SERVICING, REPAIR, OR CORRECTION THAT MAY BE NECESSARY FOR YOUR COMPUTER EQUIPMENT AND SOFTWARE AS A RESULT OF ANY VIRUSES, ERRORS OR OTHER PROBLEMS YOU MAY HAVE AS A RESULT OF VISITING THIS WEB SITE.

13. Limitation of Liability: UNDER NO CIRCUMSTANCES SHALL THE COMPANY BE LIABLE FOR ANY DAMAGES OR INJURY, INCLUDING ANY DIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, THAT MAY RESULT FROM THE USE OF, OR THE INABILITY TO USE, THE MATERIALS IN THIS SITE, WHETHER IN AN ACTION OF CONTRACT, NEGLIGENCE OR OTHER TORTIOUS ACTION, ARISING OUT OF OR IN CONNECTION WITH THE USE OR PERFORMANCE OF INFORMATION AVAILABLE IN THE WEB SITE. THE COMPANY SHALL NOT BE LIABLE EVEN IF THE COMPANY OR A COMPANY AUTHORIZED REPRESENTATIVE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THESE INCLUDE BUT ARE NOT LIMITED TO DAMAGES OR INJURY CAUSED BY ERROR, OMISSION, INTERRUPTION, DEFECT, FAILURE OF PERFORMANCE, DELAY IN OPERATION OR TRANSMISSION, LINE FAILURE OR COMPUTER VIRUS OR OTHER HARMFUL COMPONENT.

14. Limitations as to Paragraphs 11, 12 and 13: APPLICABLE LAW MAY NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE ABOVE LIMITATIONS OR EXCLUSIONS MAY NOT APPLY TO YOU. HOWEVER, IN NO EVENT SHALL THE COMPANY’S TOTAL LIABILITY TO YOU FOR DAMAGES, LOSSES, AND CAUSES OF ACTION (WHETHER IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE), OR OTHERWISE) EXCEED THE AMOUNT PAID BY YOU, IF ANY, FOR ACCESSING THIS SITE.

15. Postings: The Company may from time to time monitor or review discussions, chats, postings, and other transmissions on this web site. However, the Company is under no obligation to do so and assumes no responsibility or liability arising from the content of any such transmissions or for any error, defamation, libel, slander, omission, falsehood, obscenity, pornography, profanity, danger, or inaccuracy contained in any information transmitted to any such locations on this web site. You may not post or transmit any unlawful, threatening, libelous, defamatory, obscene, scandalous, inflammatory, pornographic, or profane material or any material that could constitute or encourage conduct that would be considered a criminal offense, give rise to civil liability, or otherwise violate any law. The Company will fully cooperate with any law enforcement authorities or court order requesting or directing the Company to disclose the identity of anyone posting any such information or materials.

16. Availability of Help: The Company welcomes suggestions for the improvement of this web site. However, you understand that the Company is under no obligation to provide any support for the use of the web site.

17. Applicable Law: These Terms of Use shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to any principles of conflicts of law. You agree that any action at law or in equity arising out of or relating to these Terms of Use shall be filed only in the state or federal courts located in New York, New York and you hereby consent and submit to the personal jurisdiction of such courts for the purposes of litigating any such action.

18. Severability: If any provision of these Terms of Use shall be found to be unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from these terms and conditions and shall not affect the validity and enforceability of any remaining provisions.

19. No Legal Effect. The paragraph titles in these Terms of Use are for convenience only and have no legal or contractual effect.