Legal Release of Liens

LEGAL RELEASE OF LIENS

This Release of Liens (the "Release") is made as of Effective Date: by and between Releasor: whose address for notices is and Releasee: whose address for notices is (each a "Party" and collectively the "Parties").

RECITALS

WHEREAS, Releasor claims a lien, security interest, charge, encumbrance, or claim (collectively "Lien") under an instrument recorded as Instrument/Document No.: on Recorded Date: in the official records of County: , State: , and relating to Property:

WHEREAS, Releasee asserts an interest in the Property and requires entry of a release of the Lien upon payment or satisfaction of the obligation secured thereby; and

WHEREAS, the Parties desire to settle, compromise and fully resolve the obligations and potential claims related to the Lien on the terms set forth below.

NOW, THEREFORE

In consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

1. RELEASE

1.1 Release. Subject to the terms and conditions of this Release, Releasor hereby irrevocably and unconditionally releases, remises, acquits, and forever discharges Releasee and Releasee's successors, assigns, agents and representatives from any and all liens, claims, demands, causes of action, suits, obligations, liabilities, and encumbrances of any nature whatsoever, whether known or unknown, arising out of or in any way related to the Lien described above (the "Released Claims") with respect to the Property identified in this Release.

1.2 Scope. The Release is intended to be a full and final release of the Lien to the extent permitted by law and shall operate to clear the title to the Property of any encumbrance asserted by Releasor under the recorded instrument identified in this Release.

2. CONSIDERATION

2.1 Consideration. As full and complete consideration for the Release, Releasee shall pay to Releasor the sum of: (the "Consideration"), or other consideration as described here: . Receipt and sufficiency of such Consideration is acknowledged by Releasor.

3. REPRESENTATIONS AND WARRANTIES

3.1 Authority. Releasor represents and warrants that it has full power and authority to execute and deliver this Release and to grant the releases herein; that there are no outstanding assignments of the Lien except as disclosed in writing to Releasee; and that the person signing on behalf of Releasor is authorized to bind Releasor.

3.2 No Other Claims. Releasor covenants that Releasor has not assigned, transferred, or encumbered any Released Claim except as disclosed in writing, and further covenants not to assert any liens or claims against the Property arising from the matters released herein.

4. FURTHER ASSURANCES

Releasor shall, at Releasor's expense, execute and deliver such further documents and take such further actions reasonably requested by Releasee to effectuate the releases granted by this Release, including, without limitation, providing any instruments of release required for recordation and cooperating in the preparation and execution of any affidavits or deeds necessary to clear the official record.

5. INDEMNIFICATION

Releasor agrees to indemnify, defend and hold harmless Releasee from and against any and all losses, liabilities, claims, damages, costs and expenses (including reasonable attorneys' fees) arising out of any breach of Releasor's representations, warranties or covenants in this Release or arising out of any claim by a third party relating to the Lien prior to the Effective Date.

6. RECORDING

Releasee may record this Release in the office of the county recorder or other official responsible for recording in the county where the Property is located. Releasor consents to such recording and agrees to execute any acknowledgments or notarizations necessary to permit recordation.

7. NOTICES

All notices required or permitted under this Release shall be in writing and delivered to the Parties at the addresses set forth below (or at such other address as a Party may designate by notice):

8. MISCELLANEOUS

8.1 Governing Law. This Release shall be governed by and construed in accordance with the laws of the State of without regard to principles of conflicts of law.

8.2 Entire Agreement. This Release constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, negotiations, representations and understandings, whether written or oral, relating to the Lien.

8.3 Severability. If any provision of this Release is held to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

8.4 Amendments and Waiver. No amendment, modification or waiver of any provision of this Release shall be effective unless in writing and signed by the Party against whom enforcement is sought. No waiver by any Party of any breach shall operate as a waiver of any other or subsequent breach.

8.5 Counterparts; Electronic Signatures. This Release may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Signatures delivered by electronic means shall be deemed original signatures.

CERTIFICATION

Releasor certifies and acknowledges that Releasor has read this Release in its entirety, has had the opportunity to seek independent counsel, accepts the terms without duress or undue influence, and that the execution and delivery of this Release is the free and voluntary act of Releasor.

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