Fill and Sign the Real Property Personal Form

Contract or Agreement to Make Exchange or Barter of Real Property for Personal Property Agreement made on the ________________ (date), between _____________________ (Name of Party Alpha) of _______________________________________________________ ____________________ (street address, city, county, state, zip code) , referred to herein as Alpha , and ____________________ (Name of Party Beta), of _________________________ _____________________________________ (street address, city, county, state, zip code) , referred to herein as Beta. 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: Whereas, Alpha is the owner of (description of personal property) _______________ ____________________________________________________________________________, presently located at ____________________________________________________________ _______________ (address of personal property) , hereinafter called Personal Property; and Whereas, Beta is the owner of certain real estate located at ______________________ _____________________________________________________ (address of real property), which real estate is more particularly described in Book _____________ (number of book), at page _____________ (number of page), now of record in the ____________________ (name of county) Recorder's Office, located at ____________________________________________ _______________________________ (address of county recorder's office), said real estate being hereinafter referred to as Real Property; and Whereas, Alpha desires to exchange the Personal Property for the Real Property of Beta ; Now, therefore, for and in consideration of the matters described above, and of the mutual benefits and obligations set forth in this Agreement, the parties agree as follows: 1. Property to be Exchanged Alpha agrees to exchange the Personal Property for the Real Property of Beta. 2. Delivery of Personal Property Alpha shall deliver the Personal Property to Beta at a place to be designated by Beta on or before ________________ (closing date). 3. Conveyance of Real Property A. In exchange for the delivery of the Personal Property, Alpha agrees to accept a warranty deed for the Real Property of Beta . B. Beta agrees to execute a good and sufficient warranty deed to Alpha, and to furnish an Abstract or Attorney’s Title Certificate for the Real Property, showing good and marketable title in Beta free and clear of encumbrances. Beta agrees to pay all taxes due to the date of conveyance of the Real Property, which conveyance will be made on or prior to _______________ (date of closing). 4. Invoice of Personal Property A. The parties agree that the Personal Property shall be invoiced at $_____________. B. Beta agrees to pay the excess over the $____________ (dollar amount of invoice price) as the differential between the value of the Personal Property and the Real Property , which Real Property , for purposes of this Agreement, is agreed to be valued at $_______________. 5. Good Faith Deposit A. As evidence of good faith, each party to this Agreement shall deposit $____________ with _________________________ (name of bank), located at ________ ___________________________________ (address of bank), as a guarantee of good faith for the faithful compliance with this Agreement. B. If either party to this Agreement shall reject, fail to comply, or refuse to comply with this Agreement, then the above-mentioned bank is authorized and instructed to pay over both amounts so deposited to the party ready and willing to carry out that party's part of this Agreement. Payment shall be in full as liquidated damages, and not a penalty. 6. Time for Payment If, at closing, it is determined that Beta owes money to Alpha, Beta agrees to make payment to Alpha, in cash, at closing. 7. Execution of Bill of Sale A. Alpha agrees to execute a bill of sale for the Personal Property to Beta on or before __________________ (date of closing). B. No goods shall be added to the Personal Property, and no goods shall be taken out of the Personal Property as of the date of the signing of this Agreement. 8. Extension of Time If Beta cannot procure an Abstract or Attorney’s Title Certificate for the Real Property, as provided above, showing good and marketable title in Beta free and clear of encumbrances by closing, Beta may have an additional ______ (number of days) days to procure the Abstract or Attorney’s Title Certificate. 9. Title to Personal Property A. Alpha shall retain title and possession of the Personal Property until payment is fully made. B. As soon as Beta makes full payment to Alpha, Alpha shall immediately execute a bill of sale for the Personal Property free and clear of encumbrances to Beta. 10. Severability The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 11. No Waiver 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. 12. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of ______________. 13. Notices 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. 14. Attorney’s Fees In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. 15. 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. 16. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 17. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 18. Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 19. In this contract, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine. WITNESS our signatures as of the day and date first above stated. ________________________ _________________________ (Printed name) (Printed name) _________________________ ___________________________ (Signature of Alpha) (Signature of Beta) (Acknowledgement 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 Alpha and Beta , who acknowledged that they executed the above and foregoing instrument. ________________________________ NOTARY PUBLIC My Commission Expires:____________________