B. The Condominium Agreement sets out dominion and TrAILCo`s obligations with respect to the joint development, construction, ownership, operation and maintenance of the transmission line. b. In the event that existing rights of way, REC rights of way or new rights of way have not been or have not been properly identified by Dominion in Schedules A, B or . C, Dominion: (i) sign and record the agreements and other documents (including a revised version of the respective Schedule) that are reasonably necessary to identify such rights of way and assign them to TrAILCo in accordance with the terms of this Agreement. to prove; and (ii) take all other steps necessary to assign such rights of way as soon as reasonably practicable and to prove the assignment of such rights. Dominion will immediately notify TrAILCo if it determines that existing rights of way, rec rights of way or new rights of way have not been or have not been properly identified by Dominion in Exhibits A, B or .C. Each party is entitled to all benefits and obligations arising from ownership of the property. In particular, each party shall: Except as otherwise provided in this Agreement, the net profit of the property shall be divided and distributed pro rata to the parties in accordance with their respective interests. All losses and liabilities arising in the course of business activities shall be borne and settled by the parties in the same proportion. The parties may suffer irreparable damages if this Agreement is not expressly enforced in accordance with its terms.

All terms of this Agreement shall be enforceable in a court of competent jurisdiction by an order on a particular service, by an injunction or by an order on a particular service and an injunction. Upon the death of a party, its personal representative shall make all payments, perform all obligations and be bound by all provisions of this Agreement. Would you and your co-owners like to find tenants? In this case, you will need a well-written residential lease. DoNotPay helps you create a custom agreement in no time. Online examples can be a good place to start if you don`t know how to structure your agreements or what information to cover. While contract templates are sometimes useful, they are not the ideal solution. This model agreement is complete and complete and is intended to protect the parties in the event of unforeseen events or disagreements, as well as after death. It is a simple English, easy to understand and adapt. The agreement is eighteen pages long and contains a detailed table of contents for easy reference. For example, it will work for two couples or for a couple and an individual, but not for three (or more) people who each intend to act autonomously.

(For this type of agreement, use our “Model real estate co-ownership agreement for three or more parties who invest together” [link here].) This agreement form can be used for real estate in any U.S. state. Subscribe to DoNotPay to learn more about these and many other agreements. Learn how to create other stress-free contracts without wasting a small fortune on a lawyer. CONSIDERING that the Parties have signed a Memorandum of Understanding (the “Memorandum of Understanding”) dated 15 May 2007 establishing certain basic principles for the development, construction, ownership, operation and maintenance of the transmission line, which will be included in the final agreements relating thereto; and This agreement template only requires changes to the blank filling for the vast majority of investments. It can be used as a standalone document or with our Memorandum of Understanding for even more protection. For co-owners with more complex agreements, our lawyers can help you with suggestions and changes for a modest additional fee. Click here for a model condominium agreement developed by Kathleen M. O`Donnell, a real estate attorney in Boston, to address the fundamental issues of shared ownership. The agreement is mentioned in O`Donnell`s article, “Co-Ownership Agreements for Multigenerational Households: An Approach,” which appears in the May 2014 issue of the ElderLaw Report. In this article, O`Donnell suggests that such an agreement could be amended to regulate multigenerational ownership of a home. 1.1 Definitions.

For the purposes of this Agreement, the following capitalized terms have the meanings set forth below or in the provision of this Agreement set forth below, regardless of any potential conflict between the meanings set forth herein and the definitions of the same terms set forth in the agreements applicable to the parties, including the PJM OATT. 4.2 Arbitration. If a dispute is not resolved within fifteen (15) days of the issuance of a notice of dispute resolution by the officers of the parties in accordance with Article 4.1, either party may propose that the dispute be submitted to arbitration in accordance with Article 4.3; provided, however, that (a) arbitration to resolve a dispute may be initiated only by mutual agreement between the parties in accordance with section 4.3; and (b) if the parties initiate arbitration in accordance with Article 4.3, neither party shall have the right to initiate a dispute or other dispute settlement proceeding while such arbitration is pending, and such proceedings may be terminated only by mutual agreement between the parties. In addition to providing legal protection to all signatory parties, a property sharing agreement can also help avoid conflicts and misunderstandings. It can even explain how any disagreements are handled. To ensure that your ownership contract or any other document has legal weight, you must have it notarized. DoNotPay`s Notarize Any Document product makes the authentication process very easy and fast. CONSIDERING that, in accordance with the provisions of the DSU, the Parties intend to establish: (a) the terms and conditions under which they (i) obtain and maintain State permits for the development, construction, ownership, operation and maintenance of the transmission line, (ii) the design, construction and construction of the transmission line, (iii) the right-of-way on which the transmission line will be located, (iv) operate and maintain the transmission line and (v) have equal and undivided interests in co-ownership; and (b) the rights and obligations of each Party with respect to the transmission line and the other Party. 15.13 Renegotiation.

If: (a) there is a change in applicable laws that materially affects the effectiveness or enforceability of any provision of this Agreement; (b) this Agreement is not approved or accepted by FERC for submission without modification or condition; (c) PJM prevents a Party, in whole or in part, from complying with any provision of this Agreement in accordance with its provisions; (d) a JMP agreement is modified in a manner that materially affects the performance or ability of a party to fulfil its obligations under this agreement; or (e) either party ceases to be a “transfer owner” in PJM as that term is defined in the PJM OATT, the parties will negotiate in good faith to amend this Agreement or take other appropriate measures to protect the interests of each party in this Agreement. If the Parties fail to reach an Agreement, either Party shall have the right to unilaterally submit to FERC any proposed amendments to this Agreement pursuant to Section 205 or Section 206 of the Federal Electricity Act that such Party deems reasonably necessary to protect its interests under this Agreement. A co-ownership contract is a legal document between two or more people who are co-owners of property or assets. It contains all the conditions that govern how the property is shared, including what happens when an owner dies. A condominium agreement may also include rules on what to do with income from renting or selling part of the property. If you want to protect your investment in case something happens, you need this contract. on the basis of the agreement for the execution of the four-year contract between SORBONNE UNIVERSITE and CNRS in force at the time of the invention, b. TrAILCo`s use of existing rights of way is limited to the use reasonably necessary for the design, engineering, construction, ownership, operation, maintenance, repair and/or replacement of the transmission line or for other uses related to the project.

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