# Incumbrance Agreement
**This Incumbrance Agreement ("Agreement") is made and entered into this [Date], by and between:**
**[Party A Name]**
Address: [Party A Address]
(“Grantor”)
AND
**[Party B Name]**
Address: [Party B Address]
(“Grantee”)
## RECITALS
WHEREAS, the Grantor is the lawful owner of certain real property located at [Property Address] (the “Property”); and
WHEREAS, the Grantor desires to create an incumbrance on the Property in favor of the Grantee under the terms set forth in this Agreement;
NOW, THEREFORE, in consideration of the mutual promises and agreements herein contained, the Grantor and Grantee agree as follows:
## 1. INCUMBRANCE
The Grantor hereby grants and conveys to the Grantee a [type of incumbrance, e.g., mortgage, lien, etc.] (the "Incumbrance") on the Property, to secure the following obligations:
- [Description of the obligation secured by the incumbrance]
## 2. TERM
The term of this Incumbrance shall commence on [Start Date] and shall continue until [End Date], unless terminated earlier as provided herein.
## 3. OBLIGATIONS OF GRANTOR
The Grantor agrees to:
- Maintain the Property in good condition.
- Pay all taxes, assessments, and insurance premiums related to the Property.
- Not sell, lease, or further encumber the Property without the express written consent of the Grantee.
## 4. OBLIGATIONS OF GRANTEE
The Grantee agrees to:
- Provide written notice to the Grantor of any default under the obligations secured by the Incumbrance.
- Retain the right to foreclose or otherwise enforce the Incumbrance upon a material breach by the Grantor.
## 5. DEFAULT
In the event of any default by the Grantor in the performance of any of its obligations under this Agreement, the Grantee may take the following actions:
- Provide a written notice of default to the Grantor.
- Pursue all legal remedies available under state or local laws.
## 6. ASSIGNMENT
Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party.
## 7. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
## 8. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties regarding the subject matter hereof and supersedes all prior negotiations, understandings, and agreements between them.
## 9. AMENDMENTS
This Agreement may be amended only by a written document signed by both parties.
## IN WITNESS WHEREOF, the parties hereto have executed this Incumbrance Agreement as of the date first above written.
**GRANTOR**
Signature: ________________________
Name: [Party A Name]
Date: _____________________________
**GRANTEE**
Signature: ________________________
Name: [Party B Name]
Date: _____________________________
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### NOTE:
This template is provided for informational purposes only and does not constitute legal advice. Parties should consult with a legal professional before entering into any contractual agreement.