Fill and Sign the Party Wall Agreement Form

Agreement to Repair Party Wall 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 , the parties are owners of adjoining parcels of land situated in __________________ (name of city) , __________________ (name of county) , __________________ (name of state) ; and Whereas , the parcel owned by Doe is described in Exhibit A attached hereto and made a part hereof, and is referred to herein as Lot A, and the parcel owned by Smith is described in Exhibit B attached hereto and made a part hereof, and is referred to herein as Lot B; and Whereas, a __________________ (type of building) located on Lot A and a __________________ (type of building) located on Lot B are divided by a common wall, of which one-half of the width lies on each of the adjoining parcels; and Whereas, t he common wall between Lots A and B constitutes a party wall, subject to the right of each of the parties to use it as such; and Whereas, the parties desire to provide for the proper repair and maintenance of the wall; Now, therefore, in consideration of the matters described above, and of the mutual benefits and obligations set forth in this Agreement , the parties agree as follows: I. Right to Repair. Either party, and the party's successors or assigns, shall have the right at all times to cause to be made any repairs necessary to maintain the wall in a safe and usable condition. II. Expense of Repair. The cost of all necessary repairs on the wall shall be borne by the then owners of Lots A and B in equal shares. III. Mutual Right of Entry. The party causing the repairs to be made shall have the right to enter on the property of the other party to the extent reasonably necessary in performance of the work, provided that the party shall take due precaution not to damage the property of the other party. IV. 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. V. Repaired Wall to Remain Party. The wall as repaired or reconstructed under the terms of this Agreement shall be and remain a party wall. VI. Duration and Effect of Agreement. The benefits and obligations of the covenants set forth in this Agreement shall run with the land as long as the wall or any extension of the wall continues to exist, and shall bind the respective parties to this Agreement , and their heirs, legal representatives, and assigns. WITNESS our signatures as of the day and date first above stated. ________________________ _________________________ Doe Smith (Acknowledgments)