Fill and Sign the Possession Agreement Form

Early Possession Agreement Agreement made on the _________________ (date), between ____________________ (Name of Seller) of _________________________________ ______________________________________ (street address, city, state, zip code), referred to herein as Seller, and _____________________ (Name of Purchaser), of ______________________________________________________________________ (street address, city, state, zip code) , referred to herein as Purchaser. Whereas, the parties have both executed an Agreement for the sale from Seller to Purchaser of certain real property (the Agreement of Sale) located at ____________ _____________________________________________________________________ (street address, city, state, zip code) , (the Property ); and Whereas, the parties have agreed to permit Purchaser early possession of the Property under the terms and conditions contained in this Agreement; 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. Seller allows Purchaser the possession of the Property. 2. Possession date shall be _________________ (date). 3. Rental per diem for use of the Property shall be: $__________ for each day from and including the date of delivery of possession through and including the date of Closing. 4. Pro-rations of the contract shall be as follows: (description of proration) ______________________________________________________________________ _____________________________________________________________________. 5. Risk of loss or damage to the Property, or to personal property stored on the Property, shall belong to Purchaser, and insurance coverage on the Property is at the option and expense of Purchaser. 6. Purchaser shall have the right to a walk-through inspection of the Property before Purchaser accepts possession pursuant to this Agreement. This will be the final walk- through inspection Purchaser shall have. 7. If Purchaser shall have failed to consummate the closing in accordance with the Agreement of Sale referred to above, or as mutually agreed in writing between the parties, and the failure to close shall continue for more than ______ (number) business days, upon receipt of Seller's written demand, Purchaser must vacate the Property, and remove all personal property belonging to Purchaser, within ______ (number) days. If Purchaser shall have failed to close as described above in this Paragraph, Purchaser shall pay Seller $__________ per day as rental for the Property beginning from and including the day Purchaser accepts possession of the Property. 8. Except as contained in this Agreement, all other terms and conditions of the Agreement of Sale referred to above shall continue in full force and effect. 9. By signing this Agreement, Purchaser acknowledges Purchaser's acceptance of the possession of the Property. 10. 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. 11. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ____________. 12. 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. WITNESS our signatures as of the day and date first above stated. ________________________ _________________________ (Printed Name of Seller) (Printed Name of Purchaser) ________________________ _________________________ (Signature of Seller) (Signature of Purchaser) (Acknowledgment form may vary by state) State of _____________________ County of ___________________ Personally appeared before me, the undersigned authority in and for the said County and State, on this _________________ (date), within my jurisdiction, the within- named ______________________ (Name of Purchaser), who acknowledged that he executed the above and foregoing instrument. ________________________________ NOTARY PUBLIC My Commission Expires: ____________________ State of _____________________ County of __________________ Personally appeared before me, the undersigned authority in and for the said County and State, on this _____________________ (date), within my jurisdiction, the within-named _____________________ (Name of Seller), who acknowledged that he executed the above and foregoing instrument. ________________________________ NOTARY PUBLIC My Commission Expires: ____________________