Lot Agreement Template

LOT AGREEMENT

Parties

This Lot Agreement (the Agreement) is entered into as of by and between:

Recitals

WHEREAS, Owner represents that Owner is the lawful owner of the real property described as Lot Number: , located at: (the Property); and

WHEREAS, Purchaser desires to acquire certain rights to the Property and Owner is willing to convey or lease such rights on the terms and conditions set forth in this Agreement;

WHEREAS, the parties intend that the use, development and any permitted improvements to the Property be governed by the terms of this Agreement.

Scope of Work and Permitted Uses

The parties agree that the permitted uses, improvements, obligations and responsibilities with respect to the Property shall be as follows. The description below shall control the permissible activities and any development must comply with applicable laws and the terms set forth in this Agreement.

Payment Terms

Purchaser shall pay Owner the consideration set forth below in full and in accordance with the schedule. All payments shall be made in lawful currency and without setoff.

Any payment not received within days after the applicable due date shall bear interest at a rate of per month, and Purchaser shall also be responsible for reasonable collection costs and attorneys' fees incurred to enforce payment obligations.

Term; Termination

This Agreement shall commence on the Start Date: and shall terminate on the End Date: , unless earlier terminated in accordance with this Section.

Either party may terminate this Agreement upon days' prior written notice to the other party for convenience. Termination for cause by either party shall be permitted where the other party materially breaches this Agreement and fails to cure such breach within days after receipt of written notice specifying the breach.

Title, Environmental and Regulatory Matters

Owner represents that to Owner's knowledge the Property is free and clear of liens and encumbrances except those disclosed in writing to Purchaser prior to the Effective Date. Owner shall disclose any known environmental conditions affecting the Property. Purchaser shall be responsible for obtaining and maintaining all permits, approvals and inspections required for Purchaser's intended use under this Agreement.

Insurance and Indemnity

During any period in which Purchaser conducts operations on the Property, Purchaser shall maintain general liability insurance with limits not less than per occurrence and shall name Owner as an additional insured where applicable. Purchaser shall indemnify, defend and hold Owner harmless from and against all claims, damages, liabilities and expenses arising from Purchaser's use of the Property, except to the extent caused by Owner's gross negligence or willful misconduct.

Confidentiality

Each party shall keep confidential any non-public information disclosed by the other party in connection with this Agreement and shall not disclose such information to third parties except as required by law or as necessary to perform its obligations under this Agreement. Confidential information shall not include information that: (i) is or becomes generally available to the public through no fault of the receiving party; (ii) was rightfully known by the receiving party prior to disclosure; or (iii) is independently developed by the receiving party without use of the disclosing party's confidential information.

A breach of this Confidentiality provision will cause irreparable harm for which monetary damages may be inadequate, and the non-breaching party shall be entitled to injunctive relief in addition to any other remedies available at law or in equity.

Governing Law; Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of laws doctrines. Any dispute arising under or relating to this Agreement shall be resolved by binding arbitration conducted in that State unless the parties mutually agree otherwise in writing.

Representations and Warranties

Each party represents and warrants that it has the power and authority to enter into this Agreement and to perform its obligations hereunder, and that the person executing this Agreement on its behalf is duly authorized to do so.

Entire Agreement; Amendment

This Agreement, including any exhibits and schedules attached hereto and any documents expressly incorporated by reference, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral. This Agreement may be amended only by a written instrument signed by both parties.

Notices

All notices and communications required or permitted under this Agreement shall be in writing and delivered to the addresses set forth above or to such other address as a party may designate in writing. Notices shall be deemed given upon personal delivery, three days after deposit in certified mail, or one business day after deposit with an overnight courier.

Counterparts; Electronic Signatures

This Agreement 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 transmitted electronically or by facsimile shall be binding as originals.

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