Legal Interest Declaration Form

LEGAL INTEREST DECLARATION FORM

This Legal Interest Declaration Form (the "Declaration") is entered into as of the Effective Date set forth below by and between Declarant Name: , an entity of type Individual Corporation LLC Partnership Other: (Declarant), and Holder Name: , an entity of type Individual Corporation LLC Partnership Other: (Holder). Declarant and Holder may be referred to collectively as the Parties.

RECITALS

WHEREAS, Declarant asserts a present legal, equitable, or beneficial interest in the Asset described below and wishes to declare the nature and extent of such interest; and

WHEREAS, Holder acknowledges receipt of this Declaration for purposes of record, notice to third parties, and establishment of the Parties' respective rights and obligations with respect to the declared interest; and

WHEREAS, the Parties intend that this Declaration shall constitute an express, binding statement of the Declarant's interest and a recordable instrument to the extent permitted by law.

NOW, THEREFORE

In consideration of the mutual covenants and agreements set forth below, and intending to be legally bound, the Parties agree as follows:

1. DECLARATION OF INTEREST

1.1 Declarant hereby declares a legal interest in the asset described as:

1.2 Nature of Interest: Declarant asserts the following nature of interest (select all that apply and provide details):

1.3 Extent of Interest: Declarant's interest is as follows:

Effective Date:

2. REPRESENTATIONS AND WARRANTIES

2.1 Declarant represents and warrants to Holder that: (a) Declarant is the lawful holder of the interest declared herein to the extent set forth above; (b) Declarant has full authority to make this Declaration; (c) except as disclosed in this Declaration, there are no outstanding assignments, transfers, or encumbrances inconsistent with the declared interest; and (d) this Declaration does not violate any material agreement binding on Declarant.

2.2 Holder represents that, upon receipt and acceptance of this Declaration, Holder will record, file, or note this Declaration as appropriate for the purpose of providing notice to third parties, and will not act to defeat Declarant's declared interest except as permitted by law or agreement of the Parties.

3. COVENANTS

3.1 Declarant covenants to provide Holder with any documents reasonably requested to evidence the declared interest, including original instruments, certified copies, or recorded abstracts, and to execute such further instruments as may be necessary to perfect or maintain the declared interest.

3.2 Holder shall provide prompt notice to Declarant of any third-party claim, foreclosure, sale, levy, or other action that may materially affect the declared interest, and shall cooperate reasonably to preserve Declarant's rights.

4. NO ASSIGNMENT; BINDING EFFECT

4.1 Except as expressly permitted by this Declaration or by written agreement of the Parties, neither Party may assign or transfer its rights under this Declaration without the prior written consent of the other Party. This Declaration shall inure to the benefit of and be binding upon the Parties and their respective successors and permitted assigns.

5. NOTICES

5.1 All notices, requests, demands and other communications required or permitted under this Declaration shall be in writing and delivered to the addresses set forth below by hand, overnight courier, or certified mail.

6. REMEDIES AND LIMITATIONS

6.1 The Parties agree that injunctive relief, specific performance, and any other equitable remedies shall be available to enforce this Declaration in addition to any remedies at law. The exercise of one remedy shall not preclude the exercise of any other remedy.

6.2 Except for willful misconduct or gross negligence, neither Party shall be liable to the other for incidental or consequential damages arising solely from the good faith performance of its obligations under this Declaration.

7. GOVERNING LAW

This Declaration shall be governed by and construed in accordance with the substantive laws of the State or Province specified below without regard to its conflict of law principles.

8. ENTIRE AGREEMENT; SEVERABILITY; AMENDMENTS

8.1 This Declaration constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior understandings and agreements, whether written or oral, relating to such subject matter.

8.2 If any provision of this Declaration is held invalid or unenforceable by a court of competent jurisdiction, the remaining provisions shall remain in full force and effect and the Parties shall negotiate in good faith to replace the invalid provision with a valid provision that achieves the Parties' original intent to the greatest extent possible.

8.3 This Declaration may be amended only by a written instrument duly executed by both Parties.

9. WAIVER; COUNTERPARTS

9.1 No waiver by either Party of any breach or default shall be deemed to be a waiver of any preceding or subsequent breach or default. Any waiver must be in writing and signed by the waiving Party.

9.2 This Declaration may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. Signatures delivered by electronic means shall be effective to bind the signing Party.

10. ACKNOWLEDGMENT AND CERTIFICATION

Each Party certifies and acknowledges that (a) it has read and understands this Declaration; (b) it has the authority to execute and deliver this Declaration and to perform its obligations hereunder; and (c) the person signing on its behalf is authorized to bind such Party.

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