Property Deed Approval Form

PROPERTY DEED APPROVAL FORM

This Property Deed Approval Form (the "Form") is entered into as of Effective Date: by and between Grantor Name: whose address is and Grantee Name: whose address is .

RECITALS

WHEREAS, Grantor is the current record owner of the real property located at (the "Property"), and the Property is further identified as Parcel Number: .

WHEREAS, Grantor proposes to convey to Grantee a deed described as:

WHEREAS, the parties seek approval of the proposed deed transfer and wish to set forth the conditions, representations, and procedures relating to the execution, delivery, and recording of the deed.

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows:

1. DEFINITIONS

Capitalized terms used in this Form shall have the meanings set forth in the Recitals and the context herein. "Deed" means the instrument of conveyance to be executed by Grantor in the form approved pursuant to Section 2 below.

2. APPROVAL OF DEED

Grantor seeks approval for the form and substance of the Deed. Approval is granted subject to the conditions in this Form. The approved Deed shall be one of the following types (select applicable):

Warranty Deed    Quitclaim Deed    Other:

3. CONSIDERATION; ESCROW

The consideration for the conveyance shall be: and shall be paid in accordance with the terms mutually agreed and recorded in the closing statement or escrow instructions. If funds are to be held in escrow, the escrow agent and escrow instructions shall be identified prior to recordation.

4. CONDITIONS OF APPROVAL

Approval of the Deed is expressly conditioned upon the following being satisfied prior to recordation: (a) delivery of a current title commitment showing vesting after conveyance; (b) payment or escrow for applicable transfer taxes and recording fees; (c) satisfaction or escrow for liens, if any; and (d) execution of any ancillary instruments required by law.

5. REPRESENTATIONS AND WARRANTIES

Each party represents and warrants to the other that: (a) it has full power and authority to enter into this Form and to perform its obligations; (b) the execution and delivery of the Deed have been duly authorized; and (c) except as expressly disclosed in writing to the other party, there are no outstanding agreements, encumbrances, judgments, or conditions that would materially impair the transfer of title.

6. RECORDING AND DELIVERY

Upon satisfaction of the conditions set forth in Section 4, the parties shall promptly arrange for the Deed to be executed, acknowledged if required, and delivered for recordation. The party responsible for recording shall be:

7. TAXES, ASSESSMENTS, AND LIENS

Unless otherwise agreed in writing, any transfer taxes, prorated real property taxes, and assessments shall be paid in accordance with local practice and the applicable closing statement. Grantor shall disclose known liens and encumbrances and shall cause any required releases or escrows to be provided at or before recordation.

8. INDEMNIFICATION

Each party shall indemnify, defend and hold harmless the other party from and against any losses, claims, damages, liabilities, or expenses arising from any breach of the representations, warranties, or covenants contained in this Form, except to the extent caused by the indemnified party's gross negligence or willful misconduct.

9. NOTICES

All notices, requests, demands and other communications required or permitted hereunder shall be in writing and shall be delivered to the addresses set forth below or to such other address as a party may designate by notice in accordance with this Section.

10. AMENDMENTS; WAIVER

This Form may be amended only by a written instrument signed by both parties. No waiver of any breach shall be effective unless in writing signed by the party waiving compliance, and no waiver shall constitute a waiver of any other or subsequent breach.

11. GOVERNING LAW; VENUE

This Form shall be governed by and construed in accordance with the laws of the State of . Venue for disputes shall lie exclusively in the state or federal courts located in the county in which the Property is located.

12. ENTIRE AGREEMENT; SEVERABILITY

This Form, together with any exhibits and attachments, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements. If any provision of this Form is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

13. COUNTERPARTS

This Form may be executed in counterparts, each of which when executed shall be deemed an original, and all of which together shall constitute one and the same instrument. Signatures delivered by electronic means shall be deemed original signatures for all purposes.

APPROVAL CERTIFICATION

The undersigned officer or authorized representative of the approving authority certifies that the conveyance described herein complies with applicable laws, ordinances and internal authority policies and that the approving authority authorizes execution of the Deed subject to the conditions set forth in this Form.

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