Agreement between Co-Owners of Real Property for Maintenance and Repair of Common Easement by pellcity27

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									                 Agreement between Co-Owners of Real Property for
                   Maintenance and Repair of Common Easement

         Agreement made on the (date), between (Name of Owner Alpha) of (street
address, city, state, zip code), referred to herein as Alpha, and (Name of Beta), of
(street address, city, state, zip code), referred to herein as Beta. Alpha and Beta are
jointly referred to herein as the Parties.

         Whereas, the Parties to this Agreement are co-owners of an easement (the
Easement) in the nature of a (e.g., private right-of-way) approximately (number) feet in
width and extending approximately (specification of distance) in a (e.g., northerly)
direction from (description of starting point) to (description of termination point) through
(description of land through which Easement runs), as shown on the Plat attached to
this Agreement as Exhibit A and, by this reference, made a part of this Agreement as
fully and to the same effect as if set forth in this instrument in its entirety; and

       Whereas, the Parties desire to share the costs and expenses of maintaining the
above-described Easement.

       Now, therefore, 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:

1.       Expenses to be Shared
         The Parties agree to share the costs and expenses of maintaining the above-
described Easement in good repair for the period commencing (date), and ending
(date), as set forth in this Agreement.

2.       Maintenance and Repairs
         The repairs and maintenance to be undertaken and performed under this
Agreement shall include the following and only the following: (description of
maintenance and repairs desired, such as filling of potholes and resurfacing, and type of
equipment and materials to be used). Any additional repairs or maintenance deemed
necessary or advisable, but not included within the maintenance and repair specified
above, shall not be undertaken under this Agreement except with the prior, express,
and written consent of each of the Parties and an assumption by each of the Parties in
writing of their proportionate share of financial liability for the cost of such additional
repairs or maintenance.

3.      Limits of Liability
        The Parties agree to bear the costs and expenses of repairs and maintenance
authorized pursuant to and during the term of this Agreement for the above-described
Easement as follows:

        A.   Alpha agrees to bear _____% of such costs and expenses, but not
        exceeding during the term of this Agreement a total of $______________.

        B.    Beta agrees to bear the remaining ______% of such costs and expenses,
        but not exceeding during the term of this Agreement a total of $____________.

4.       Designation of Agent
         (Name of Agent), of (street address, city, state, zip code), is designated as the
agent of the Parties to contract for and oversee the repairs and maintenance authorized
under this Agreement. Such agent, on acceptance of the agency, shall be personally
liable for any and all debts contracted by him on behalf of the Parties to this Agreement
for repairs and maintenance of the Easement during the term of this Agreement in
excess of the Parties' total agreed liability of $_______________, except such debts
contracted after obtaining the Parties' prior written consent to be liable for such
additional expense.

5.      Compensation of Agent
        The total compensation of the above-named Agent for acting as such under this
Agreement shall be $___________________, payable (description of payment
schedule). Such compensation is to be (included in or in addition to) the Parties' liability
specified in Section 3 of this Agreement.

6.      Advancement of Costs and Expenses
        A.    On the execution of this Agreement by the Parties and the acceptance by
        (Name of Agent) of his appointment as Agent under this Agreement, each party
        shall advance the respective percentage share, as set forth above, of
        $_____________ and deposit the same in the Agent's trust account to be
        maintained at the (Branch and location of Bank) of the (Name of Bank), for use
        by the Agent in paying the costs and expenses authorized and incurred under
        this Agreement.

        B.      As the Agent requires additional funds from time to time to pay the costs
        and expenses authorized and incurred under this Agreement, each party shall
        deposit the percentage share of the sums required, subject to the limits of
        liability under this Agreement, in the Agent's trust account on receipt of notice
        from the Agent that such funds are required.

7.     Accounting by Agent
       Agent shall furnish to the Parties to this Agreement written reports of
maintenance and repairs undertaken, costs and expenses incurred, and receipts for the
payment of costs and expenses on or before the ____ day of each month.

8.      Bond of Agent
        Said Agent shall furnish a faithful performance bond of $_________ from a good
and sufficient surety, the premiums to be paid out of the total agreed liability of the
Parties to this Agreement as set forth above.

9.      Notices
        Any notice or report required under this Agreement shall be sent to the Parties
and the above-named Agent at the addresses respectively indicated in this Agreement,
unless such addresses change by written notice to each person concerned, in which
event the new address given shall be used for the sending of such notice or report. Any
required notice shall be made by certified mail, return receipt requested, properly
addressed and postage prepaid.

10.     Personal Injury and Property Damage Liability
        Any liability of the Parties for personal injury to the above-named Agent, or to
any worker employed to make repairs under this Agreement, or to third persons, as well
as any liability of the Parties for damage to the property of the Agent, or any such
worker, or of any third person, as a result of or arising out of repairs and maintenance
under this Agreement, shall be borne, as between th
								
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