Property Boundary Agreement

PROPERTY BOUNDARY AGREEMENT

This Property Boundary Agreement (the "Agreement") is made and entered into as of by and between Party A: whose address is , and Party B: whose address is .

RECITALS

WHEREAS, Party A asserts ownership of the real property commonly described as and legally described as ;

WHEREAS, Party B asserts ownership of the adjoining real property commonly described as and legally described as ;

WHEREAS, the parties desire to establish, confirm and record the exact boundary line between the properties, to resolve any existing or potential disputes concerning boundary location, and to define responsibilities for monumentation, recordation, and any corrective actions necessary to reflect the agreed boundary.

SCOPE OF WORK

SURVEY; BOUNDARY ESTABLISHMENT

1. A licensed land surveyor mutually selected by the parties shall perform a boundary survey in accordance with applicable professional standards. The surveyor shall set permanent monuments at the agreed boundary corners and shall prepare a written survey map and field notes (the "Survey"). The Survey shall be performed and certified to both parties and, if requested, recorded in the public land records of the county in which the properties are located.

2. Costs of the Survey and monumentation shall be allocated as follows: Party A shall pay and Party B shall pay . Any dispute regarding selection of the surveyor or scope shall be resolved pursuant to the dispute resolution provision in this Agreement.

PAYMENT TERMS

Any undisputed payment not made when due shall accrue interest at the rate of compounded monthly, or the maximum rate permitted by law, whichever is less. In addition to interest, the defaulting party shall be responsible for reasonable collection costs and attorney's fees incurred by the non-defaulting party.

TERM AND TERMINATION

This Agreement shall commence on and shall terminate on , unless earlier terminated pursuant to the terms below.

Either party may terminate this Agreement for material breach by the other party if the breaching party fails to cure such breach within days after receiving written notice. Either party may also terminate for convenience upon providing the other party with not less than days' prior written notice, subject to payment for work performed and reasonable demobilization costs.

CONFIDENTIALITY

The parties acknowledge that in the course of performance they may receive Confidential Information of the other party. "Confidential Information" means non-public information relating to the other party's real property, survey findings, settlement positions, or financial arrangements. Each party agrees to hold such Confidential Information in confidence, to use it only for purposes of performing this Agreement, and not to disclose it to any third party except as required by law or as necessary to carry out the obligations of this Agreement (including recordation of the Survey). Confidential obligations shall survive termination of this Agreement for a period of three (3) years.

RECORDATION; EFFECT OF AGREED BOUNDARY

Upon completion and mutual acceptance of the Survey, the parties shall execute any instruments reasonably necessary to effectuate the agreed boundary line and to record the Survey and any agreement in the public land records. The parties acknowledge that the agreed and recorded boundary shall be binding between the parties and shall control over any prior inconsistent depiction of the boundary to the extent permitted by law.

INDEMNITY AND INSURANCE

Each party shall indemnify and hold harmless the other party from and against any claims, liabilities, losses or damages arising from that party's negligence, willful misconduct, or breach of this Agreement. Each party shall maintain insurance sufficient to cover its obligations under this Agreement and shall provide evidence of such insurance upon reasonable request.

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 law principles. The parties agree to attempt to resolve disputes in good faith through negotiation, and if unsuccessful, to submit the dispute to binding arbitration in the county where the properties are located, in accordance with the arbitration rules mutually agreed by the parties.

ENTIRE AGREEMENT; AMENDMENT

This Agreement, including any attachments and the Survey when executed, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior understandings and agreements, whether written or oral. This Agreement may be amended only by a written instrument signed by both parties.

MISCELLANEOUS

If any provision of this Agreement is held unenforceable, the remaining provisions shall continue in full force and effect. Headings are for convenience only and shall not affect interpretation. Notices required under this Agreement shall be in writing and delivered to the addresses set forth above or such other address as a party designates by notice.

ATTACHMENTS

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