Shaka Franklin Foundation for Youth, from here on to be known as SHAKA, a tax exempt organization under Section 501(c)(3) of the Internal Revenue Code, is conducting this raffle. The following rules Covering and Regulating the SHAKA, “Everyone Deserves A Chance” Raffle are enacted pursuant to section 12-9-101 et seg., CRS., and Article XVIII, section 2 of the Colorado Constitution. By purchasing a raffle ticket the purchaser agrees to be bound by these rules and regulations.
1.There shall be one Grand Prize awarded in the “Everyone Deserves A Chance” Raffle. Upon the sale of 9,000 tickets, the Grand Prize shall be the property located at 6827 S. Windermere Street, Littleton, CO.,80120. The fair market value of the Grand Prize is estimated to be $880,000. Appraisal value derived from Colorado Appraisal, LLC Dated 5/16/2008. If the number of tickets sold is less than 9,000 by the end of the raffle, the Grand Prize shall be 35% of the gross Raffle proceeds. The gross Raffle proceeds will be divided as follows: The Shaka Franklin Foundation shall retain 65% of all gross proceeds and the Grand Prize winner will receive 35% gross proceeds of the raffle. These amounts shall be determined by the Shaka Franklin Foundation’s accounting, which shall be final and conclusive with respect to the Grand Prize winner.
2. For each payment of $100, the purchaser is given one(1) entry into the Raffle. Each entry represents one chance to win. Payments can be made on the SHAKA’s “Everyone Deserves A Chance” Raffle Website with a major credit card. All purchases of Raffle Tickets are non-refundable for any reason except a raffle cancellation. In the unlikely event the raffle is cancelled (in accordance with Colorado Secretary of State Rule 9.A.S.) all credit cards will be credited with the full amount that was paid to the raffle within 45 days. The State of Colorado does not permit direct credit card purchases for tickets, in order to comply with Colorado law all of our credit card ticket purchases will be processed by Authorize.net.
3. By entering this raffle, entrants accept and agree (1) to be bound by all the rules, limitations and restrictions set forth herein and (2) that their names and/or likeness may be disclosed to and used by the news media and may otherwise be used by SHAKA for publicity purposes and may be published in the any/all newspapers and announced on the SHAKA Raffle Website. Other rules and regulations may apply. Please contact SHAKA at 303-337-2515, if you have any questions. SHAKA’s interpretation and application of the Rules and Regulations shall be final.
4. Tickets will be distributed and Ticket stubs will be collected in the order that purchase price is received. Checks and credit cards purchases will be deposited upon receipt. Checks that are returned for insufficient funds or other reasons, or credit cards that are denied shall disqualify the Ticket.
5. Raffle tickets can be printed online after credit card is accepted online. Raffle tickets purchased with a check will receive ticket within 14 days of the SHAKA receipt of check clearance from purchasers’ bank. It is the purchaser’s sole responsibility to provide a valid, deliverable mailing address.
6. All entries must be received by 11:59:59 on 11/30/2010 if by credit card and received by 11:59:59 11/15/2010 if by check to be eligible for the Grand Prize. The Grand Prize drawing will be held on 12/01/2010 at 6827 S. Windermere Street, Littleton, CO., 80120 at 4:30pm.
7. A minimum of 9,000 tickets must be sold in order for the Home Grand Prize to be awarded. The odds of winning the Grand Prize are 1 in 9,000.
8. Winner(s) must claim and accept ownership of the prize within 6 weeks from date of drawing or forfeit the prize and a new winner will be selected. The winner of the Grand Prize must go to settlement on the property within sixty(60) days of the Raffle drawing date.
9. The winner of the Grand Prize shall be responsible for any and all real property taxes and assessments that accrue after the date of closing and all federal, state and local income taxes associated with the receipt of the prize by the winner for tax purposes of income equal to the fair market value of the Grand prize. The Grand Prize winner shall take the real property in “as is”, “where-is” condition. The Grand Prize winner acknowledge that government authorities may place a different value on the home than SHAKA placed on the homes in determining any income, property, transfer, or other taxes or fees that may be attributable to the home. SHAKA does not make or provide any representation, guarantee or warranty, expressed or implied, in connection with the house and accepts no Liability or responsibility regarding the construction or condition of the house. SHAKA does not warrant that the house is of mercantile quality or that it can be used for any particular purpose. No express warranties are given and no affirmation of SHAKA by word and/or actions will constitute a warranty.
