Fill and Sign the Boundary Line Agreement First International Title Form

Property (or Boundary) Line Agreement This Property Line Agreement (the Agreement) is made on this the ______________ (date) , between ____________________ (Name of Party Alpha) of _____________________ _____________________________________ (street address, city, county, state, zip code) , referred to herein as Alpha, and _______________________ (Name of Party Beta), of ____________________________________________________________________________ (street address, city, county, state, zip code) , referred to herein as Beta. Whereas, Alpha owns real property located at _________________________________ _____________________________________ (street address, city, county, state, zip code) , which is more fully described in Exhibit A, which is attached hereto and incorporated herein; and Whereas, Beta owns real property located at __________________________________ ___________________________________ (street address, city, county, state, zip code) , which is more fully described in Exhibit B, which is attached hereto and incorporated herein ; and Whereas, the parties agree that, based on the legal descriptions for the two properties set out Exhibit A and Exhibit B , it is impossible to accurately determine the location of the common boundary line between the parties' properties, and Whereas, the parties desire to correct the improper legal description by recording new legal descriptions for the two properties that will properly establish their common boundary line; Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Upon execution of this Agreement, Beta will pay for a survey (the Survey) that will describe a new common boundary line between the two properties and revised legal descriptions for each property based on the Survey's new boundary line. 2. The new common boundary line. to be established shall not result in any net loss of acreage to Alpha’s Property. The corrected legal description for Alpha’s Property, based on the Survey, will include at least ________ acres. 3. Upon completion of the Survey as described in Paragraphs 1 and 2, the parties shall execute and record correction deeds in accord with the Survey. Beta will pay all costs for preparing and recording the deeds. 4. Alpha and Beta each warrant that, upon execution of this Agreement, they will take all appropriate actions to implement this Agreement, including executing the correction deeds as provided for in Paragraph 3. 5. Severability The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 6. No WaiverThe 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 Law This 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. 13. In this contract, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine. WITNESS our signatures as of the day and date first above stated. ________________________ _________________________ (Printed name) (Printed name) ________________________ _________________________ (Signature of Alpha) (Signature of Beta)