Fill and Sign the Bailment Agreement in Order to Allow Inspection of Property Form

Bailment Agreement in Order to Allow Inspection of Property by PurchaserThis Bailment Agreement made on the ________________________________ (date) , between __________________________________________ (Name of Bailor), a corporation organized and existing under the laws of the state of ___________________, with its principal office located at ____________________________________________ ________________________________________________________________________ (street address, city, county, state, zip code) , referred to herein as Bailor, and (Name of Bailee), a corporation organized and existing under the laws of the state of ________________________, with its principal office located at ___________________ ________________________________________________________________________ (street address, city, county, state, zip code) , referred to herein as Bailee. 1. Property to be Delivered Bailor agrees to deliver and Bailee agrees to accept for inspection the property described in Exhibit A attached hereto and initialed by both parties. Said property described in said Exhibit is hereinafter referred to as the Property. 2. Delivery of Property The described property is delivered to Bailee by Bailor only for the purpose of inspection by Bailee. 3. Title to Property Title to the Property delivered is and shall remain in Bailor until Bailor gives Bailee a written bill of sale. 4. Return on Demand The Property shall be returned by Bailee to Bailor on demand. A request for the return of any or all of such Property, made either on Bailee in person or by sending a certified letter to Bailee at __________________________________________________ ________________________________________________________________________ (street address, city, county, state, zip code) , shall be deemed a sufficient demand for return. 5. Loss or Damage Bailee agrees to return the Property to Bailor in good condition. Bailee shall be liable to Bailor for any or all loss or damage resulting to Property from fire, theft, or any other cause whatsoever. 6. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 7. Governing LawThis Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ______________________. 8. Notices Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 9. Mandatory Arbitration Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 10. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 11. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 12. Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. WITNESS our signatures as of the day and date first above stated. ___________________________________ __________________________________ (Name of Bailor) (Name of Bailee) By: ________________________________ By: ________________________________ (Printed or typed name) (Printed or typed name) ___________________________________ ____________________________________ ___________________________________ ____________________________________ (Name and Office in Corporation) (Name and Office in Corporation)