DOG OWNERSHIP AGREEMENT

DOG OWNERSHIP AGREEMENT

THIS AGREEMENT is hereby entered into on the eighth day of May, Two Thousand and Twenty-Three. (5-8-2023)

BETWEEN

  1. Shontese Washington, with an address at [insert Address] hereinafter referred to as (“Washington”).

AND

  1. Duvalier Johnson, with an address at [inert Address] hereinafter referred to as (“Johnson”).

WHEREAS, Washington and Johnson jointly purchased a dog named Sophia Washington on January 26, 2023, with loans in Washington’s name;

WHEREAS, the dog is currently in the care of Johnson;

WHEREAS, the parties agreed that both of them would pay off the loans in Washington’s name, and Johnson must agree to pay both loans off by August 8th, 2023;

WHEREAS, if Johnson fails to pay off the loans by the due date, Washington will come get the dog;

WHEREAS, if Johnson agrees to pay off the loans, Washington will switch AKC ownership.

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, the parties agree as follows:

  1. LOAN AMOUNT:

The total loan amount is [$8,799.46], which consists of two loans: [$4,850.03] from VIVE and [$3,949.43] from Lending USA. Both loans are under Washington’s name.

  1. PAYMENT TERMS:

Johnson agrees to pay Washington the full amount of the loan, which is [$8,799.46], by August 8th, 2023. Johnson acknowledges that he is responsible for the payment of the entire loan amount, and Washington shall not be held liable for any portion of the loan.

For the month of May, Johnson shall pay the minimum payment of the lending USA loan, which is $233, by May 3rd, 2023.

Beginning on June 3rd, 2023, Johnson will make monthly payments of [$ amount] on the 3rd of each month. If Johnson fails to make a payment on the due date, a late fee of [$ amount] will be applied, and interest will accrue at a rate of [rate]% per day on the outstanding balance.

If Johnson fails to agree to the payment terms set forth in this Agreement, Johnson must release the Dog to Washington by May 9th, 2023, and shall forfeit all payments made to date.

  1. OWNERSHIP:

The Dog is registered with the American Kennel Club (AKC) under Washington’s name, and Washington is the sole owner of the Dog. Upon full payment of the loan, Washington will transfer ownership of the Dog to Johnson, and Washington will remove their name from the AKC registration.

  1. POSSESSION:

Johnson currently has possession of the Dog and will continue to care for the Dog until the loan is fully paid. If Johnson fails to make payments as agreed or if this Agreement is terminated, Washington will take possession of the Dog. In the event that Washington takes possession of the Dog, Johnson will cooperate fully to ensure a smooth transfer of possession, and any costs associated with the transfer of possession will be borne by Johnson.

  1. TERMINATION:

If Johnson fails to make payments as agreed, this Agreement will be terminated, and Washington will take possession of the Dog. If this Agreement is terminated, Johnson will forfeit all payments made to date, and Washington will have the right to pursue legal action to recover any outstanding balance on the loan.

  1. DISPUTE RESOLUTION:

Any dispute arising out of or relating to this Agreement shall be resolved through mediation administered by the American Arbitration Association in accordance with its Commercial Mediation Procedures. If the dispute cannot be resolved through mediation, the parties agree to submit to the exclusive jurisdiction of the courts located in Ohio.

  1. NOTICES:

Any notices required or permitted under this Contract shall be in writing and shall be deemed given when delivered in person, by overnight courier, or by certified or registered mail, postage prepaid, to the addresses set forth above or to such other addresses as the parties may designate in writing.

  1. GOVERNING LAW:

This Contract shall be governed by and construed in accordance with the laws of the State of Ohio. Any disputes arising under this Contract shall be resolved exclusively in the courts of Ohio.

  1. AMENDMENT AND WAIVER:

No modification or amendment to this Agreement shall be effective unless in writing and signed by both Parties. Any waiver of a breach of any provision of this Agreement shall not operate as a waiver of any subsequent breach.

  1. ENTIRE AGREEMENT:

This Agreement constitutes the entire agreement between the Parties and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written, between the Parties with respect to the subject matter of this Agreement.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

SIGNED by the parties:                                    )

…………………………….                                          ) _________________

(SHONTESE WASHINGTON- WASHINGTON)             Signature

Date: ……………………….

AND

………………………………..                                    )_________________

(DUVALIER JOHNSON-JOHNSON)                            Signature

Date: ……………………….

 

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