Land Division Agreement

LAND DIVISION AGREEMENT

Parties

This Land Division Agreement (the Agreement) is made and entered into by and between the following parties as of the Effective Date set forth below.

Property Identification

Property Address:

Parcel / APN Number:

Division Plan and Survey

Number of new parcels to be created:

Approvals, Conditions and Permits

The Transferee shall prepare and submit, at Transferee's sole cost, all subdivision plats, surveys, engineering plans and permit applications required by local authorities, and shall obtain final approval from the applicable approving authority prior to recordation of any deed dividing the original parcel. Approval required: Municipal County State

Required completion of improvements (roads, drainage, utilities) before recordation: Yes No

Financial and Conveyance Terms

Consideration for division and conveyance (if any): $

Closing / Recordation Date: . Possession of each new parcel shall occur as set forth in the deed conveying each parcel.

Representations, Warranties and Covenants

Owner represents and warrants that Owner holds good and marketable title to the Property subject to the encumbrances specifically disclosed in this Agreement and that Owner has full authority to enter into this Agreement. Owner covenants that, prior to recordation of any conveyance, Owner shall not create additional encumbrances except as approved in writing by Transferee.

Transferee represents that it will diligently pursue required approvals, will comply with all applicable subdivision, zoning and land use laws, and will construct or fund required improvements as set forth in this Agreement or related improvement agreements.

Disclosures

Hazardous materials or environmental contamination known: Yes No

Presence of wetlands or regulated waters on the Property known: Yes No

Encumbrances, Liens and Taxes

Current liens, mortgages or financing statements affecting the Property:

All real property taxes and assessments shall be prorated to the date of recordation of each conveyance unless otherwise agreed in writing. Responsibility for unpaid special assessments: Owner Transferee

Default, Remedies and Indemnity

If either party materially defaults in performance of its obligations, the non‑defaulting party may pursue specific performance, injunctive relief, damages, and any other remedies available at law or in equity. The prevailing party in any contested enforcement action shall be entitled to recover reasonable attorneys' fees and costs.

Each party shall indemnify and hold harmless the other from and against any losses, liabilities, claims and expenses arising from that party's breach of representation, warranty or covenant in this Agreement, except to the extent caused by the indemnified party's negligence or willful misconduct.

Recordation and Notice

Upon satisfaction of all conditions precedent and receipt of final subdivision approval (if required), the parties shall execute deeds, easement instruments and such other documents as necessary to effectuate the division, and such instruments shall be submitted for recordation in the official land records of the county in which the Property is located.

Miscellaneous Provisions

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located. Venue for any dispute shall lie in the state or federal courts located in that jurisdiction.

Entire Agreement; Amendment: This Agreement contains the entire understanding between the parties with respect to the subject matter and supersedes all prior negotiations and agreements. No amendment shall be effective unless in writing and executed by both parties.

Severability: If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

Additional Terms

Effective Date

Effective Date:

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