Power of Attorney Procuration Agreement

POWER OF ATTORNEY PROCURATION AGREEMENT

This Power of Attorney Procuration Agreement (the Agreement) is made and entered into by and between Principal Name: , whose principal residence or principal place of business is Principal Address: (hereinafter "Principal"), and Agent Name: , whose address is Agent Address: (hereinafter "Agent"). The Principal and Agent are each referred to herein as a Party and collectively as the Parties.

RECITALS

WHEREAS, the Principal desires to appoint the Agent as the Principal's true and lawful attorney-in-fact to act in the Principal's name, place and stead in accordance with the terms of this Agreement; and

WHEREAS, the Agent is willing to accept such appointment and to exercise the powers granted under this Agreement in good faith, in the Principal's best interests, and subject to the duties and limitations set forth herein; and

WHEREAS, the Parties intend that this instrument constitute a general and procuration power of attorney to permit the Agent to manage, conserve and dispose of the Principal's affairs as specified 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. APPOINTMENT

1.1 Principal hereby appoints Agent as Principal's true and lawful attorney-in-fact with full power and authority to act for Principal in all matters described in this Agreement, subject to the limitations herein. This appointment is durable and shall not be affected by subsequent disability or incapacity of the Principal unless otherwise specified in Section 1.3.

1.2 Effective Date: This Power of Attorney is effective on Effective Date: .

1.3 Type of Effectiveness: Effective immediately upon signature    Effective upon Principal's incapacity as determined by one licensed physician.

2. POWERS GRANTED

2.1 General Grant of Powers. Subject to the express limitations set forth in this Agreement, Agent is authorized to exercise on behalf of Principal all powers that Principal could exercise personally, including, without limitation, the powers enumerated in Section 2.2. The Agent shall exercise such powers in accordance with the Principal's expressed wishes when known, and otherwise in the Principal's best interests.

2.2 Specific Powers. Agent shall have the authority to perform the following actions (check applicable powers to grant):

Manage bank accounts, withdraw funds, endorse checks, open and close accounts, and execute related documents.

Buy, sell, lease, mortgage, encumber or otherwise manage real property and execute deeds, leases and closing documents.

Buy, sell, exchange, and manage stocks, bonds, mutual funds and other investments; vote proxies and exercise rights in respect thereof.

Prepare, sign and file federal, state and local tax returns and related documents; represent the Principal in tax matters and settle liabilities.

Operate, buy, sell, and manage business interests, enter into contracts, and take any action necessary for business operations.

Make decisions concerning the Principal's personal affairs, including paying bills and handling routine household matters.

2.3 Excluded Powers. Notwithstanding any other provision of this Agreement, Agent shall not have authority to make or revoke a will, to make health care decisions unless explicitly granted in writing elsewhere, or to exercise any power expressly prohibited by applicable law.

3. AGENT'S DUTIES AND STANDARDS

3.1 Fiduciary Duty. The Agent shall act loyally for the Principal's benefit, avoid conflicts of interest, keep the Principal's property separate from the Agent's property, maintain accurate records, and provide an accounting to the Principal or the Principal's legal representative upon reasonable request.

3.2 Reasonable Care. The Agent shall exercise the degree of care that an ordinarily prudent person would exercise in similar circumstances and shall not be liable for actions taken in good faith reliance upon written advice of counsel or upon reasonable evidence of the Principal's wishes.

4. THIRD-PARTY RELIANCE

4.1 Reliance. Third parties may rely upon a photocopy or electronic copy of this Agreement and need not inquire into the Agent's authority or the validity of this Agreement. Any person, bank or other third party who in good faith accepts and acts under this Agreement shall not be liable to the Principal or the Principal's estate for permitting the Agent to exercise any power granted herein.

5. COMPENSATION AND INDEMNIFICATION

5.1 Compensation. The Agent shall be entitled to reasonable compensation for services rendered if agreed in advance, or otherwise reasonable compensation in accordance with prevailing standards for similar services.

5.2 Indemnification. Principal agrees to indemnify and hold harmless the Agent from and against any loss, liability, cost or expense (including reasonable attorneys' fees) arising from acts taken in good faith under this Agreement, except for losses resulting from the Agent's gross negligence, willful misconduct, or breach of fiduciary duty.

6. DURATION AND REVOCATION

6.1 Termination. This Agreement shall continue until revoked by the Principal in a signed writing delivered to the Agent, or upon the Agent's resignation, death, or incapacity. If Effective Date selection provides for springing effect, this Agreement shall commence as set forth in Section 1.3.

6.2 Notice of Revocation. Principal shall provide written notice of revocation to Agent and to any third party to whom the Principal knows the Agent has presented this Agreement. Revocation shall not affect third parties who have relied in good faith on this Agreement prior to receipt of notice.

7. NOTICES

Notices shall be effective when delivered personally, one business day after deposit with a nationally recognized overnight carrier, or three business days after deposit in the United States mail, postage prepaid, addressed as provided above, unless a different method is required by statute.

8. AMENDMENTS; WAIVER

8.1 Amendments. This Agreement may be amended or supplemented only by a written instrument signed by the Principal and accompanied by written acceptance by the Agent.

8.2 Waiver. No waiver of any provision of this Agreement shall be effective unless in writing and signed by the party against whom enforcement is sought. A waiver of any breach shall not constitute a waiver of any subsequent breach.

9. GOVERNING LAW; ENTIRE AGREEMENT; SEVERABILITY

9.1 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the state identified for governing law: , without regard to conflict of laws principles.

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

9.3 Severability. If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

10. MISCELLANEOUS

10.1 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.

10.2 Acceptance by Agent. By signing below, Agent accepts the appointment, acknowledges the fiduciary duties imposed by this Agreement, and agrees to act in accordance with the terms hereof.

Sign Now