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Agreement For Exchange Of Property
AGREEMENT FOR EXCHANGE OF PROPERTY
This agreement is effective as of [date of agreement], between [name of broker], of [address of broker] hereinafter referred to as broker, and [name of owner], of [address of owner] hereinafter referred to as owner.
PART I.
PURPOSE
The owner of the property at [address of first property], City of [address of first property], County of [County of first property], State of [State of first property], particularly described as follows: [description of first property], which [he or she] desires to exchange for property owned by [owner of second property], at [address of second property], County of [County of second property], State of [State of second property], particularly described as follows: [description of second property]
PART II.
BROKER TO NEGOTIATE EXCHANGE
The owner understands that if the broker secures an acceptance of the proposition to exchange the properties on terms acceptable to owner, within days of such acceptance, the owner must furnish a certificate of title, and a deed conveying a good and sufficient title to the first property described above.
PART III.
BROKERS COMMISSION
The broker is entitled to a commission of [Percent commission] % of any money received by owner pursuant to the exchange of deed in excess of $ [Excess amount]. The broker is guaranteed a commission of at least $ [Minimum commission amount].
PART IV.
TERM
The agency will continue for [Number of months] months pay broker a commission as set forth above in the event that [he or she] becomes the owner of the property.
PART V.
GOVERNING LAW
It is agreed that this agreement shall be governed by the laws of the State of [State of jurisdiction].
PART VI.
ARBITRATION OF DISPUTES
All disputes under the terms of this agreement are subject to arbitration. Either party may make a demand for arbitration by filing such demand in writing with the other party within days after the dispute arises. Thereafter, arbitration shall be conducted by: The rules of this agreement and the laws of the state.
PART VII.
BROKERS COVENANTS
The broker further agrees to act as owners fiduciary with respect to negotiations, to deal with [owner] and to make full disclosure to owner of all material matters relative to such negotiations.
In witness whereof, each party to this agreement has caused it to be executed at [location of execution] on [date of execution].
Signature