CLAIMS FOR PROPERTY DAMAGE
Release executed on __________ (date), by
__________________________________ (name), of
_____________________________________________________ (address), here referred
to as Releasor, to ______________________________________ (name),
(if applicable, a corporation organized under the
laws of the State of _____________ ), of (or if Releasee is a corporation with
its principal place of business located at)
______________________________________________________________ (address), here
referred to as Releasee.
is the owner __________________ (in fee simple or as the case may be) of
certain property located at ______________________________________________
(address), and more particularly described as
(Set forth legal description).
Releasor’s above-described property and the improvements thereon have
suffered damage as a result of
_____________________________________________________ (business activities of
Releasee conducted on adjacent property, described as follows or
the following described incident for which Releasee
is allegedly responsible or otherwise liable as the case may be):
(description of activities, incident or the like).
is willing to release Releasee from all past and present claims for such damage
on the terms set forth herein.
In consideration of _______________ (the sum of
__________ Dollars receipt of which is acknowledged by Releasor or set forth
other consideration), Releasor releases and discharges Releasee from any and
all claims, demands and causes of action
that Releasor ever had or that Releasor has or may
have on the date of this release, known or unknown, arising from the
above-described __________________________ (business activities conducted by
Releasee). It is understood that this
release shall inure
to the benefit of Releasee and _________________
(its successors, assigns and insurers), and that it shall bind Releasor and
Releasor’s heirs, legal representatives, assigns and successors in interest to
the above-described real property.
appropriate, here add: Releasor agrees
to indemnify Releasee against ____________ (loss and expense) with respect to
any claims, demands and causes of action of any tenants or occupants of the
above-described property, which claims, demands or causes of action are based
on damage to the property or occupancy thereof by virtue of the above-mentioned
______________________________ (business activities of Releasee).)
In witness whereof, releasor has executed this
release at ________________________ (designate place of execution) on the day
and year first above written.