RELEASE OF LIABILITY
RECITALS
WHEREAS, _________________________________ and
________________________________ hold combined interest in two entities: a limited
liability company and a limited Partnership. Individually referred to as ‘Party’ and
collectively referred to as ‘Parties’. The Parties intend to be legally bound as follows:
1. LOAN. _______________________________ would like to get a mortgage
against his share of equity. He will be responsible for the repayment of the loan
or the consequences of failure to pay the loan thereof.
__________________declares his sole ability to claim loan interest cost for tax
purposes.
2. RELEASE FROM LIABILITY. ________________________ releases and holds
harmless _________________________ for any liability that may arise as a
result of the second mortgage and any costs thereof.
3. DISPUTES. Any disputes that may arise with regard to the subject matter of the
Release will be solved in good faith through mediation.
4. GOVERNING LAW. This Release will be construed and interpreted according to
the laws of ________________________
5. ENTIRE AGREEMENT. This Release contains the parties’ entire agreement, and
there are no promises or conditions in any other agreement or release, whether
oral or written.
IN WITNESS WHEREOF, the Parties affix their signatures as follows:
Name: ________________________________
Signature: _____________________________
Date: __________________________________
Name: ________________________________
Signature: _____________________________
Date: __________________________________
At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )
