Legal Covenant Release Form

LEGAL COVENANT RELEASE FORM

This Legal Covenant Release (the "Release") is made effective as of by and between , a (referred to herein as "Releasor"), and , a (referred to herein as "Releasee").

RECITALS

WHEREAS, Releasor is the owner of certain real property and interests described as located in ;

WHEREAS, certain covenants, conditions and restrictions affecting the Property are evidenced by a recorded instrument identified as recorded in the Official Records of on ;

WHEREAS, the parties desire to release, terminate, extinguish and discharge the specific covenants described below to the extent permitted by law and to provide for recording of this Release.

NOW, THEREFORE, in consideration of the mutual covenants and other good and valuable consideration set forth herein, the parties agree as follows:

1. DEFINITIONS

For purposes of this Release, the following terms have the following meanings:

"Covenant(s)" means the covenant(s), condition(s) or restriction(s) described in the recorded instrument identified above and further described as:

"Released Property" means the specific real property or interest described in the property_description field above and any lesser estate or interest expressly identified herein.

2. RELEASE

Subject to the terms and limitations set forth in this Release and to the fullest extent permitted by applicable law, Releasor hereby irrevocably releases, relinquishes and discharges Releasee and its successors, assigns, agents and representatives from and against any and all rights, claims, demands, liens, causes of action and liabilities that Releasor may have to enforce, collect or otherwise assert any of the Covenant(s) against the Released Property as of the Effective Date, except as expressly reserved in this Release.

This Release is limited to the Covenant(s) described in the covenant_description field and does not otherwise waive, release or affect any obligations, liabilities or encumbrances not expressly described and released herein.

3. CONSIDERATION

In consideration for the Release granted herein, the parties acknowledge receipt of the sum or other consideration described as:

4. REPRESENTATIONS AND WARRANTIES

Each party represents and warrants to the other that: (a) it has full power and authority to enter into this Release and to perform its obligations herein; (b) the person executing this Release on its behalf is duly authorized to do so; and (c) this Release constitutes a legal, valid and binding obligation enforceable against such party in accordance with its terms.

Releasor further represents that, to Releasor's actual knowledge after reasonable inquiry, there are no pending or threatened actions, liens or claims that would be affected by this Release other than those disclosed in:

5. INDEMNIFICATION

Releasor agrees to defend, indemnify and hold harmless Releasee from and against any and all claims, liabilities, losses, damages, costs and expenses (including reasonable attorneys' fees) arising out of or relating to: (a) any breach of Releasor's representations, warranties or agreements contained in this Release; or (b) matters arising prior to the Effective Date and relating to the Released Property except to the extent such liabilities are expressly assumed by Releasee in writing.

6. RECORDING

The parties agree to execute and deliver such further instruments and to take such further actions as may be reasonably required to evidence or effectuate the recording of this Release in the appropriate public records. The party responsible for submitting this Release for recordation is: and the costs of recordation shall be paid by: .

7. NOTICES

Notices to Releasor:

Notices to Releasee:

Notices shall be sent to the respective addresses set forth above and shall be deemed given when delivered personally, sent by nationally recognized overnight courier, or three (3) business days after deposit in the United States mail, postage prepaid, certified mail, return receipt requested.

8. AMENDMENTS; WAIVER; COUNTERPARTS

This Release may be amended only by a written instrument executed by both parties. No waiver of any provision of this Release shall be effective unless in a writing signed by the party against whom enforcement of the waiver is sought. This Release may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Facsimile or electronic signatures shall be deemed original for all purposes.

9. GOVERNING LAW

This Release shall be governed by and construed in accordance with the laws of the State of , without regard to its conflict of law principles.

10. ENTIRE AGREEMENT; SEVERABILITY

This Release constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, oral or written. If any provision of this Release is held invalid or unenforceable by a court of competent jurisdiction, such invalidity or unenforceability shall not affect the remaining provisions, which shall continue in full force and effect.

MISCELLANEOUS

The headings used in this Release are for convenience only and shall not affect the construction or interpretation of this Release. Nothing in this Release shall be construed to create any right or benefit enforceable by any person not a party hereto, except as expressly provided herein.

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