BUYER & SELLER EXCHANGE 1031 TAX DEFERRED EXCHANGE: Buyer and Seller each agree to cooperate with the other in effecting an IRC Section Like Kind Tax Deferred Exchange at anytime prior to the close of this escrow. Both parties herein shall have the right, expressly reserved herein, to effect said exchange at anytime prior to the closing date of this escrow. If either party or both parties elect to effect such exchange, each party herein agrees that they will execute additional escrow instructions, documents, agreements and/or instructions as may be required to effect either parties' exchange, provided that NO additional costs, expenses or liabilities shall be incurred by the "accomodating" party AND provided that no additional delays in the scheduled closing date of this escrow are incurred unless as mutually agreed upon by all parties to this transaction. Each party agrees to indemnify and hold the other party harmless from any and all liability and/or responsibility, damages or costs, including reasonable attorneys fees, that may arise from the other parties' participation in the exchange transaction. ALL PARTIES HEREIN ACKNOWLEDGE THAT THEY HAVE BEEN ADVISED BY ESCROW HOLDER AND BROKERS (IF ANY) TO SEEK THE ADVICE OF THEIR OWN INDEPENDENT LEGAL AND/OR TAX COUNSEL FOR THE DETERMINATION OF ANY INCOME TAX OR OTHER CONSEQUENCES OF THIS EXCHANGE, AND THEREFORE ALL PARTIES HEREIN FULLY RELIEVE, RELEASE, INDEMNIFY AND HOLD HARMLESS ESCROW HOLDER AND BROKERS (IF ANY) FROM ANY AND ALL LIABILITY REGASRDING THE SAME, AND FURTHER INDEMNIFY AND HOLD HARMLESS ESCROW HOLDER AND BROKERS (IF ANY) FROM ANY LOSS WHICH SAID PARTIES MAY SUSTAIN IN THE EVENT THIS EXCHANGE TRANSACTION IS AUDITED BY THE IRS AND SUBSEQUENTLY DISALLOWED AS A 1031 TAX DEFERRED EXCHANGE. ALL PARTIES FURTHER ACKNOWLEDGE THAT ESCROW HOLDER IS PROCEEDING WITH THIS ESCROW, INCLUDING ITS STRUCTURING HEREIN, BASED UPON SUCH LEGAL AND/OR TAX REPRESENTATION OF THE PARTIES HERETO. Seller's Initials _________________________ Buyer's Initials ________________________
BUYER EXCHANGE 1031 TAX DEFERRED EXCHANGE: Seller agrees to cooperate with Buyer in effecting an IRC Section 1031 Like Kind Tax Deferred Exchange at anytime prior to the closing date of this escrow. Buyer shall have the right, expressly reserved herein, to elect this exchange at anytime prior to the closing date herein. In the event Buyer chooses such option to exchange, Seller agrees to execute additional escrow instructions, documents, agreements and/or instruments that may be required in order to effect the Buyer's exchange provided that Seller shall incur NO additional costs, expenses and/or liabilities in this transaction AND provided that no additional delays in the scheduled closing date of this escrow are incurred unless as mutually agreed upon by all parties. Buyer agrees to indemnify and hold harmless Seller from any and all liability and/or responsibility, damages or costs, including reasonable attorney's fees, that may arise from Seller's participation in the Buyer's exchange transaction. ALL PARTIES ACKNOWLEDGE THAT THEY HAVE BEEN ADVISED BY ESCROW HOLDER AND BROKERS (IF ANY) TO SEEK THE ADVICE OF THEIR OWN INDEPENDENT LEGAL AND/OR TAX COUNSEL FOR THE DETERMINATION OF ANY INCOME TAX OR OTHER CONSEQUENCES OF THIS EXCHANGE TRANSACTION, AND THEREFORE ALL PARTIES HEREIN FULLY RELIEVE, RELEASE, INDEMNIFY AND HOLD HARMLESS ESCROW HOLDER AND BROKERS (IF ANY) FROM ANY AND ALL LIABILITY REGARDING THE SAME, AND FURTHER INDEMNIFY AND HOLD HARMLESS ESCROW HOLDER AND BROKERS (IF ANY) FROM ANY LOSS WHICH SAID PARTIES MAY SUSTAIN IN THE EVENT THIS EXCHANGE TRANSACTION IS AUDITED BY THE IRS AND SUBSEQUENTLY DISALLOWED AS A 1031 TAX DEFERRED EXCHANGE. ALL PARTIES FURTHER ACKNOWLEDGE THAT ESCROW HOLDER IS PROCEEDING WITH THIS ESCROW, INCLUDING ITS STRUCTURING HEREIN, BASED UPON SUCH LEGAL AND/OR TAX REPRESENTATION OF THE PARTIES HERETO. Seller's Initials _________________ SELLER EXCHANGE 1031 TAX DEFERRED EXCHANGE: Buyer agrees to cooperate with Seller in effecting an IRC Section 1031 Like Kind Tax Deferred Exchange at anytime prior to the closing date of this escrow. Seller shall have the right, expressly reserved herein, to elect this tax deferred exchange at anytime prior to the closing date of this transaction. In the event Seller elects to effect such exchange, Buyer agrees to execute additional escrow instructions, documents, agreements and/or instruments as may be required to effect Seller's exchange, provided however that NO additional costs, expenses or liabilities shall be incurred by Buyer AND provided that no additional delays in the scheduled closing date of this escrow are incurred unless as mutually agreed upon by all parties to this transaction. Seller agrees to indemnify and hold the Buyer harmless from any and all liability and/or responsibility, damages or costs, including reasonable attorney's fees, that may arise from Buyer's participation in the exchange transaction. Buyer's Initials ___________________
ALL PARTIES ACKNOWLEDGE THAT THEY HAVE BEEN ADVISED BY ESCROW HOLDER AND BROKERS (IF ANY) TO SEEK THE ADVICE OF THEIR OWN INDEPENDENT LEGAL AND/OR TAX COUNSEL FOR THE DETERMINATION OF ANY INCOME TAX OR OTHER CONSEQUENCES OF THIS EXCHANGE, AND THEREFORE ALL PARTIES FULLY RELIEVE, RELEASE, INDEMNIFY AND HOLD HARMLESS ESCROW HOLDER AND BROKERS (IF ANY) FROM ANY AND ALL LIABILITY AND/OR RESPONSIBILITY REGARDING THE SAME AND FURTHER AGREE TO INDEMNIFY AND HOLD HARMLESS ESCROW HOLDER AND BROKERS (IF ANY) FROM ANY LOSS WHICH SAID PARTIES MAY SUSTAIN IN THE EVENT THIS EXCHANGE TRANSACTION IS AUDITED BY THE IRS AND SUBSEQUENTLY DISALLOWED AS A 1031 TAX DEFERRED EXCHANGE. ALL PARTIES ACKNOWLEDGE THAT ESCROW HOLDER IS PROCEEDING WITH THIS TRANSACTION, INCLUDING ITS STRUCTURING HEREIN, BASED UPON SUCH LEGAL AND/OR TAX REPRESENTATION OF THE PARTIES HERETO. Seller's Initials __________________ Buyer's Initials ___________________