Residential Housing Exchange Agreement

RESIDENTIAL HOUSING EXCHANGE AGREEMENT

This Residential Housing Exchange Agreement (the Agreement) is made and entered into as of by and between Party A: , residing at ; and Party B: , residing at .

RECITALS

WHEREAS, Party A is the lawful occupant and has authority to permit temporary occupancy of the residential property located at (Premises A);

WHEREAS, Party B is the lawful occupant and has authority to permit temporary occupancy of the residential property located at (Premises B);

WHEREAS, the Parties desire to exchange occupancy of their respective residential premises for a fixed period on the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

1. DEFINITIONS

1.1 "Premises A" means the residential property identified as Party A's residence at the address set forth in the opening paragraph. "Premises B" means the residential property identified as Party B's residence at the address set forth in the opening paragraph.

1.2 "Exchange Period" means the period commencing on and ending on , unless earlier terminated in accordance with this Agreement.

2. EXCHANGE AND GRANT OF OCCUPANCY

2.1 Subject to the terms and conditions of this Agreement, Party A hereby grants to Party B the right to occupy Premises A for the Exchange Period, and Party B hereby grants to Party A the right to occupy Premises B for the Exchange Period. Each Party's right of occupancy is non-transferable and limited to the Exchange Period.

2.2 Each Party accepts the other Party's Premises in its "as-is" condition as of the commencement of the Exchange Period, subject to the condition report described in Section 4.

3. CONSIDERATION

3.1 The Parties acknowledge that the exchange of occupancy is the primary consideration for this Agreement. In addition, Party A shall pay to Party B the sum of and Party B shall pay to Party A the sum of , if any, as agreed by the Parties.

3.2 Security deposit (if applicable): Party A deposits and Party B deposits to secure performance of their respective obligations under this Agreement. Deposits shall be held in trust and returned within days after the termination of the Exchange Period, less amounts properly withheld for repairs or other lawful deductions.

4. CONDITION REPORT; INVENTORY

4.1 Prior to the commencement of the Exchange Period each Party shall prepare a written condition report and inventory of fixtures, furnishings and appliances present at their Premises, including photographs where appropriate. The Parties shall exchange and sign the reports and inventories.

5. UTILITIES, SERVICES AND ACCESS

5.1 Unless otherwise agreed in writing, each Party shall be responsible for arranging and paying for their respective utilities and services at the Premises they occupy, including but not limited to electricity, water, gas, internet and trash removal.

5.2 Keys and access devices: Each Party shall provide the other with keys and any necessary access codes, and shall not alter locks or access mechanisms without the other Party's prior written consent, except in an emergency.

6. MAINTENANCE, REPAIRS AND ALTERATIONS

6.1 Each occupying Party shall maintain the Premises in a reasonably clean and habitable condition and shall promptly notify the owner Party of any damage or need for repair. The occupying Party shall be responsible for the cost of repairs resulting from their negligence or willful misconduct.

6.2 No Party shall make structural alterations or add major fixtures without the express prior written consent of the other Party and, if applicable, the owner of the Premises.

7. INSURANCE; INDEMNITY

7.1 Each Party shall maintain at all times during the Exchange Period a policy of homeowner's or renter's insurance covering liability and personal property. Each Party shall provide proof of insurance upon request.

7.2 Each Party shall indemnify, defend and hold harmless the other Party and the other Party's agents and invitees from and against any and all claims, liabilities, losses, damages and expenses (including reasonable attorneys' fees) arising out of or resulting from the indemnifying Party's use or occupancy of the other Party's Premises, except to the extent caused by the negligence or willful misconduct of the indemnified Party.

8. DEFAULT; REMEDIES

8.1 If either Party materially breaches this Agreement, the non-breaching Party may provide written notice of the breach. If the breach is not cured within days after receipt of such notice, the non-breaching Party may seek all remedies available at law or in equity, including termination of this Agreement and recovery of damages.

9. TERMINATION; RETURN OF PREMISES

9.1 Upon expiration or earlier termination of the Exchange Period, each occupying Party shall vacate the respective Premises, return keys and access devices, and deliver the Premises in substantially the same condition as received, reasonable wear and tear excepted. Any damages beyond ordinary wear and tear shall be the responsibility of the occupying Party and may be deducted from the security deposit.

10. NOTICES

10.1 All notices, demands or communications required or permitted under this Agreement shall be in writing and shall be delivered personally, sent by certified mail, return receipt requested, or sent by overnight courier, to the addresses provided below or to such other address as a Party may designate by written notice.

11. AMENDMENTS; WAIVER; COUNTERPARTS

11.1 No amendment or modification of this Agreement shall be effective unless in writing and signed by both Parties. No waiver of any provision shall constitute a waiver of any other provision or of a subsequent breach.

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

12. GOVERNING LAW; ENTIRE AGREEMENT; SEVERABILITY

12.1 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the state where the Premises A is located, without regard to principles of conflicts of law, unless the Parties specifically agree in writing to a different jurisdiction:

12.2 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, negotiations and discussions, whether oral or written.

12.3 Severability. If any provision of this Agreement is held to be invalid, illegal or unenforceable, the remaining provisions shall remain in full force and effect and the invalid provision shall be reformed to the extent necessary to make it enforceable.

13. MISCELLANEOUS PROVISIONS

13.1 Subordination. Where applicable, occupancy rights granted under this Agreement are subject to any superior mortgagee or landlord rights; each Party shall disclose any such encumbrances prior to the commencement of the Exchange Period.

13.2 Access for Repairs and Inspections. Either Party or the owner of a Premises (if not the occupying Party) may enter the Premises for necessary repairs or inspections upon reasonable notice, except in emergency situations where immediate access is necessary.

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