Residential Condominium Conversion Packet

Parking License Granted by Owners Association of Condominium

Agreement made on the , between , of , referred to herein as Car Owner, and , a not for corporation organized and existing under the laws of the state of , with its principal office located at , referred to herein as Association.

Whereas, Car Owner is the owner of the following described automobile:

• Make

• Model

• Body Type

• Vehicle Identification Number (VIN)

• Year:

Whereas, Association operates owns a parking facility located at ;

Now, therefore, for and in consideration of $ per month, paid in advance by Car Owner, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the undersigned agrees as follows:

1. Association agrees to permit Car Owner to use and occupy an assigned parking space to be designated by the Association for the motor vehicle listed in this Agreement for a term commencing the date hereof and continuing from month to month thereafter unless terminated as hereinafter provided. The parking space designated by the Association shall be hereinafter referred to as the Parking Space. The term of this Agreement shall include any monthly automatic renewal period granted to the Car Owner.

2. Parking Fees

Car Owner shall pay the Association the prevailing rent per month for the use of said Parking Space (the Parking Fee) during the term of this Agreement. Car Owner is responsible for paying the monthly Parking Fee. Upon thirty (30) days written notice to the Car Owner, the Association may revise the monthly fee. The Parking Fee shall be payable in advance on the first day of each month during the term of this Agreement without set-off or demand. All Parking Fees and related charges shall be paid to Association's agent at the address set forth above.

3. Identification of Vehicle.

Association hereby reserves the right at all times to reassign the Parking Spaces upon seven (7) days prior written notice to Car Owner. Association shall provide and also have the right to direct Car Owner to place an identification sticker or symbol on the windshield of the subject motor vehicle or on such other location as the Association may designate in its Rules and Regulations to indicate proper registration with the Association. The failure of Car Owner to affix such sticker or symbol to their vehicle within seven (7) days from the receipt of written notice from the Association, constitutes a breach of this Agreement by the Car Owner.

4. Use of Parking Space

Except as hereinafter provided, the Parking Space shall not be used by anyone other than Car Owner for the above described vehicle. Car Owner further agrees to allow Association access to Parking Space for the purpose of making any repairs to the Garage.

5. Compliance with Rules and Regulations

Car Owner shall observe and comply with such rules and regulations as may be promulgated by the Association from time to time for the use of the Garage and the Parking Space. The failure of to comply with such rules and regulations constitutes a breach of this Agreement by the Car Owner.

6. Exculpation

It is understood and agreed by the parties hereto that the Parking Fee payable hereunder is solely for the use of the garage. Car Owner hereby releases and forever discharges Association and its managing agent, except, by the sole determination of the Managing Agent, there is direct evidence that one of the Association's employees caused the damage, from any and all claims, damages, liabilities or actions of any kind and nature with respect to the use of the garage including without limitation, any personal injury to Car Owner or loss or damage to the motor vehicle, or loss of articles or accessories left therein, which may be due to or occasioned by any cause whatsoever, including without limitation, fire, theft, or accident. Car Owner further agrees to indemnify and hold Association, its directors, officers, agents, employees, successors, and assigns harmless from any and all claims, demands, damages, liabilities, or actions invitees, servants, guests, or family members of the Car Owner with respect to the use of the Garage.

7. Fire or Casualty

In the event the garage is rendered untenable by fire or other casualty, Association may terminate this Agreement as of the date of said fire or casualty by giving notice to Car Owner within (30) thirty days after said date and all obligations of the parties hereunder shall be adjusted as of the date of said fire or casualty.

8. Termination of Agreement

A. By Car Owner: Car Owner may terminate this Agreement by giving Association no less than thirty (30) days prior written notice delivered in person or by certified mail, to Association at the building management office.

B. By Association: If Car Owner fails to pay the Parking Fee or his Condominium assessments by the fifteenth (15th) day of the month, Association may terminate this Agreement on the thirtieth (30th) day or said month. If Car Owner shall breach any other covenant of this Agreement, the Association may terminate this Agreement upon ten (10) days prior notice to Car Owner.. Within five (5) days after the termination of the Agreement, Car Owner agrees to surrender possession of the Parking Space and upon failure to vacate within the prescribed time, hereby grants to Association free license, with or without process of law, to remove the subject motor vehicle. Association may use such force in removing the motor vehicle as may be reasonably necessary (including towing the vehicle from the building premises). Said entry by the Association shall not constitute a trespass or forcible entry or detainer nor shall it cause a forfeiture of Parking Fees by virtue hereof, Car Owner hereby expressly waives any notice of any election by Association hereunder, demand for Parking Fees, notice to quit, demand for possession, and any and all notices and demands whatsoever.

9. Payment of Costs

Car Owner shall pay and discharge all reasonable costs, attorney's fees and expenses that shall be incurred by Association to enforce the covenants and provisions of this Agreement including the cost of removing the motor vehicle from the building premises.

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 Association and Car Owner may not be the rights pursuant to this Agreement to any other person, firm, corporation, or other entity without the prior, express, and written consent of Association.

19. In this Agreement, 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.