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AGREEMENT made on [Date] by and between [Name] of [Address], hereinafter referred to as "Grantee", and [Name] of [Address], hereinafter referred to as "Owner", do hereby agree as follows:
Owner is the owner in fee simple of the following described real estate property: [Enumerate].
In consideration of [$------] paid by Grantee, the Owner grants to Grantee an easement: [Enumerate].
Owner grants to Grantee use of the [Property] located at [Address] for a term of [--] years.
The grant of easement herein shall bind the heirs and assigns of [Name] the Owner; however, Grantee may not assign the rights hereunder without the consent of Owner. The rights herein shall be specifically enforceable.
This easement shall be further subject to the following:
(a) In the event that Grantee causes any damage or undue wear and tear on the [Property], Grantee shall promptly reimburse Owner for the expense thereto:
(b) In the event of destruction of the [Property] due to casualty, Owner shall promptly rebuild the [Property]; however, the easement shall abate during the time of rebuilding, and monetary damages shall not be due from the Owner to the Grantee;
(c) In the event that government regulation forbids or limits the right of use of the [Property], Grantee shall be bound thereby.
No modification of this Agreement will be effective unless it is in writing and is signed by both parties. This Agreement binds and benefits both parties and any successors.
Any disputes pertaining to said contractual arrangement being affairs that cannot be settled amicably shall be submitted to an arbitrator under the Rules of the American Arbitration Association or like organization in the City of [city], whose award may be reduced to judgment in any court of competent jurisdiction.
In connection with this Agreement and the transactions contemplated hereby, each party to this Agreement will execute and deliver any additional documents and perform any additional acts that may be necessary or appropriate to effectuate and perform its obligations under this Agreement and the transactions contemplated hereby.
This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.
No Assignment. Neither this agreement nor any right or interest thereunder shall be assigned in any respect whatsoever.
Exclusion of Oral Statements. This instrument contains all of the agreements of the parties. No oral or other statements shall be binding on either of the parties hereto.
Applicable Law. This Agreement shall be governed by the laws of the State of [State].
Time of The Essence. Time is the essence of this agreement.
IN WITNESS WHEREOF, the parties have executed this agreement the day and year as first above written at [City], [State].
Witnesses as to Owner:
By: [Name and Address]
Witnesses as to Grantee:
By: [Name and Address]
*** If Required By State Law ***
This Section for Notary:
STATE OF -------)
) ss: [date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]