Fill and Sign the Consent to Credit History Background Form

Agreement as to Tenancy-in-Common Ownership of Premises with neither Owner to Sell or Rent Premises without Other’s Consent Agreement made on the _____________ (date), between _______________________ (Name of Owner One) of _______________________________________________________ ______________________ (street address, city, county, state, zip code), referred to herein as Owner One, and ____________________ (Name of Owner Two), of __________________ ______________________________________________________________ (street address, city, county, state, zip code), referred to herein as Owner Two, Owner One and Owner Two being jointly referred to herein as Owners. Whereas, each Owner has contributed to a common fund and have acquired the fee title to the premises located at _______________________________________________________ ______________________ (street address, city, state, zip code), hereinafter called the Premises, said Premises being more fully described in Exhibit A, which is attached to and made a part of this Agreement; and Whereas, each Owner has an equal and undivided one-half interest in the Premises; 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. OwnershipEach party to this Agreement shall own an undivided 50% interest in the Premises, and shall share equally in mortgage payments, household insurance, taxes, utilities, maintenance, or improvements (except telephone) related to, or to become a part of, the Premises. 2. Improvements, Sale or Mortgage of PremisesThe written consent of both Owners shall be required in order to improve, sell, or mortgage the Premises and any such improvement, sale, or mortgage shall be of the entire Premises, except as provided in Section Six. 3. Sharing of ExpensesEach Owner shall advance, or cause to be advanced in a timely fashion, their one-half share of the money required to pay for the maintenance and operation of the Premises, (including interest and principal on the mortgage liens), and for the cost of any improvements. All accounts for repairs and improvements (plumbing, paint, etc.) shall be put in the names of both Owners, and a single account book showing these expenses will be kept. If, after agreement of the Owners that an improvement benefits only one Owner, or benefits
Only one owner jointly, and if the owner requesting the improvement agrees to have one owner pay the expenses, the property owner may agree to have the owner paying the expenses, and if the improvement is of a personal nature or of a commercial nature, the owner may agree to have the owner paying all expenses and to share the proceeds by proportionate payment. 4. Maintenance or improvements, (except utilities) are subject to the consent of the owner having sole right of entry, except for sewerage or water, fire prevention, health and safety and maintenance inspection. 5. Ownership of maintenance and improvement is subject to transfer from one owner to another at the request of the owner whose interest it would otherwise be. If the two owners agree the maintenance and improvement is theirs and the property being improved is the sole property and right of all the owners, this may be accomplished only by a legal deed transferring the right of improvement. 6. No owner must be the owner of any improvements, unless agreed otherwise. 7. If any part of the premises is located on federal military land there will be no further need or intent for any form of covenants, whether written or oral, as to ownership. The provisions of the constitution of the United States and, of the state of pennsylvania, and the laws of the state, govern the possession and use and development thereof. 8. The ownership each party shall enter into a written agreement with the federal government stating the purpose for which the federal military land is used and the name of the covenants they will make and this agreement shall serve as the terms and conditions of the grant. 9. When a request for military land is made, the owner shall make reasonable efforts to locate the military use in the vicinity of the property, but all military construction and improvements on military land shall be subject to a legal injunction on military use, prior to construction or erection of any permanent structure, until a building permit has been issued. 10. Ownership of any improvement made by the federal government on military land, without legal consent of the owners of the improvement, shall be deemed to be without permission of the owners of the property. 11. Except as otherwise expressly permitted, no owner of premises may build more than three structures on said premises within a twelve-month period. Such structures may not be taller than four stories, and no structure may be constructed or operated within the enclosed property or enclosed grounds where other structures are located for other property owners (except those erected by the owner for the owner or occupant of the property) of the premises located.