# Covenant Agreement
**This Covenant Agreement ("Agreement") is made as of [Date], by and between:**
- **[Party A Name]**, a [State/Country] [type of entity, e.g., corporation, individual, etc.], with a principal address at [Party A Address] ("Party A").
- **[Party B Name]**, a [State/Country] [type of entity, e.g., corporation, individual, etc.], with a principal address at [Party B Address] ("Party B").
**Collectively referred to as the "Parties."**
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## RECITALS
WHEREAS, the Parties wish to enter into a covenant that governs certain agreements related to [describe purpose of the covenant, e.g., land use, property development, non-compete obligations, etc.].
WHEREAS, the Parties seek to define their respective rights and responsibilities clearly.
NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the Parties agree as follows:
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## 1. DEFINITIONS
1.1 "Covenant" means the agreements and obligations set forth in this document.
1.2 "Property" refers to the real estate located at [Property Address/Legal Description], subject to the terms of this Agreement.
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## 2. COVENANTS
2.1 **Use of Property**
[Party A/Party B] agrees to use the Property solely for [describe permissible uses, e.g., residential, commercial, etc.], and no other purposes without the prior written consent of [Party B/Party A].
2.2 **Maintenance Obligations**
Each Party agrees to maintain their respective areas of the Property in good condition and repair, and in compliance with all applicable laws and regulations.
2.3 **Ownership Rights**
[Describe any ownership rights, if applicable, e.g., "The Parties acknowledge that Party A is the owner of the Property.”]
2.4 **Non-Transferability**
No Party shall transfer or assign their rights or obligations under this Agreement without the prior written consent of the other Party.
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## 3. TERM
3.1 This Agreement shall commence on the date first written above and shall continue in full force and effect until [describe the termination conditions, e.g., mutual agreement of the Parties, completion of obligations, etc.].
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## 4. DEFAULT
4.1 If either Party defaults in the performance of any of its obligations under this Agreement, the non-defaulting Party shall provide written notice to the defaulting Party and grant an opportunity to cure the default within [number of days] days before pursuing any further remedies.
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## 5. AMENDMENT
5.1 This Agreement may be amended only by written agreement signed by both Parties.
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## 6. GOVERNING LAW
6.1 This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
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## 7. DISPUTE RESOLUTION
7.1 Any disputes arising from or related to this Agreement shall be resolved through [mediation/arbitration, etc.], to be conducted in [location], in accordance with the rules of [mediating/arbitrating body] then in effect.
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## 8. ENTIRE AGREEMENT
8.1 This Agreement constitutes the entire understanding between the Parties regarding the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral.
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## IN WITNESS WHEREOF, the Parties have executed this Covenant Agreement as of the date first written above.
**[Party A Name]**
By: ___________________________
Name: [Name of Authorized Signatory]
Title: [Title]
Date: [Date]
**[Party B Name]**
By: ___________________________
Name: [Name of Authorized Signatory]
Title: [Title]
Date: [Date]
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*This document is a sample and should be tailored to the specific legal requirements and circumstances of the Parties involved. It is recommended to consult with a legal professional before executing any agreements.*