2. Nature of Agreement; Non-Binding Reservation Payment
The Reservation Payment is NON-REFUNDABLE and provides you with the benefits in Section 4 below
depending on the level of your payment. This Agreement does not constitute an agreement for the sale
of a vehicle and does not lock in pricing, a production slot, or an estimated delivery date. You are under
no obligation to purchase a vehicle from us, and we are under no obligation to supply you with a vehicle.
If and when we notify you of the availability of the vehicle and you wish to proceed with the purchase,
such sale and purchase will be governed by a separate and legally binding Purchase Agreement between
you and us or between you and another authorized dealer (Elio). In the event a purchase is made, your
Reservation Payment plus a bonus equal to 50% of the payment will be credited against the purchase
price.