Fill and Sign the Contract or Agreement to Make Exchange or Barter and Assume Debt Form

Contract or Agreement to Make Exchange or Barter and Assume Debt Agreement made on 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. 1. Exchange The parties agree that Alpha becomes the owner of Beta's (description of Beta's property) ___________________________________________________________________, and Beta becomes the owner of Alpha's (description of Alpha’s property) _______________ __________________________________________________________________________. 2. Assumption of Indebtedness Alpha agrees to assume Beta's indebtedness for the above-described property of Beta, which is evidenced by notes and secured by a lien on the property of $ ____________. 3. Cash Consideration A. Alpha is to receive $_________ from Beta, which is the difference in the values of the property being exchanged. B. Such sum shall be paid by Beta in sums as follows: (schedule of payments by Beta) _________________________________________________________________ ______________________________________________________________________. 4. Inspection A. Alpha has inspected the property that he is to receive, and states that the same is as it has been represented to him. B. It is agreed that Beta may inspect the above-described property of Alpha and, if it is found to be otherwise than as represented by Alpha, Beta may rescind this Agreement by notifying Alpha of his election to rescind on or before ___________________ (date). 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 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 Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ______________. 8. NoticesAny 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. Attorney’s Fees In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. 10. 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. 11. 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. 12. 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. 13. 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. 14. 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)