Fill and Sign the Occupancy Agreement Form 497333538

Use and Occupancy Agreement by Purchaser -- Pre-Closing Agreement made on the ________________________ (date), between ________________________ of _________________________________________ (street address, city, county, state, zip code) , referred to herein as Doe, and ________________________ of _________________________________________ (street address, city, county, state, zip code) , referred to herein as Smith. Whereas, Smith is purchasing from Doe the house and lot located at _____________________________________________ (street address, city, county, state, zip code) , said Property (the Property ), being more particularly described in Exhibit A attached hereto and made a part hereof; and Whereas, Smith desires to right to use and occupy the Property prior to closing starting on ________________________ (date), and continuing until the Closing Date of the purchase; Now, therefore, for and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Occupancy and Term. Smith shall have the right to use and occupy the Property prior to closing (the Closing Date ) starting on ________________________ (date) and continuing until the Closing Date or the Termination Date. 2. Possession. The taking of possession of the Property by Smith shall constitute acceptance of the Property in its then condition and shall satisfy Doe’s obligations under the terms of the Purchase and Sale Agreement. 3. Payments. Smith agrees to pay Doe under these terms and pursuant to this Agreement the sum of $ ________________________ per __________________ (day, week, etc.) for the use and occupancy of the Property prior to the Closing Date or the Termination Date. 4. Utilities and Maintenance. Smith shall pay all amounts due for all utilities for the Property, including electricity, gas and oil, and any normal maintenance, including snow removal, so long as he occupies the Property. Doe shall be responsible, at his sole cost and expense, for maintenance and repairs of the mechanical (which shall mean heating/cooling and plumbing), electrical, and structural systems of the Property and the roof (the Systems ), except for maintenance and repair of such Systems caused by Smith’s negligence. 5. Insurance. Smith agrees to obtain and maintain, at his sole cost and expense a hazard insurance policy, in an amount acceptable to Doe, which covers Smith’s liability for the use and occupancy of the Property. 6. Damages. Smith agrees that he shall be liable for all losses and damages incurred by Doe due to the Smith’s failure to vacate the Property on the Termination Date. 7. Termination Date. In the event that the closing does not occur Smith hereby agrees to vacate the Property by ________________________ (date). 8. Severability. The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 9. No Waiver. The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 10. Governing Law. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ________________________ (name of state). 11. Notices. Unless provided herein to the contrary, any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 12. Mandatory Arbitration . Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 13. Entire Agreement . This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 14. Modification of Agreement. Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 15. Assignment of Rights. The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 16. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. 17. Compliance with Laws. In performing under this Agreement, all applicable governmental laws, regulations, orders, and other rules of duly-constituted authority will be followed and complied with in all respects by both parties. WITNESS our signatures as of the day and date first above stated. ________________________ _________________________ John Doe William Smith