MUTUAL RELEASE
This Mutual Release ("Release"), is executed this ______ day of ________,
20__, by and between, ______________ (hereinafter referred to as
the "_______________"), and ____________ (hereinafter "___________").
RECITALS:
WHEREAS,_________________ holds claims against ___________________
for _____________________ (the "Indebtedness"); and
WHEREAS, ________________ hereby agrees to ____________________ in return
for a release of its Indebtedness to______________________________;
WITNESSETH:
NOW THEREFORE, for and in consideration of the payment of One Dollar ($1.00),
and other good and valuable consideration, in hand paid, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:
1. _________________does hereby release, cancel, forgive and forever discharge
the _______________, each of its predecessors, parent corporations, holding companies,
subsidiaries, affiliates, divisions, heirs, successors and assigns, and all of their
officers, directors and employees from all actions, claims, demands, damages, obligations,
liabilities, controversies and executions, of any kind or nature whatsoever, whether known
or unknown, whether suspected or not, which have arisen, or may have arisen, or shall arise
by reason of the Indebtedness and/or the guaranty of payment of the Indebtedness as
designated and described in the Agreement from the first day of the world, including
this day and each day hereafter, and ________________ does specifically waive any claim
or right to assert any cause of action or alleged case of action or claim or demand which
has, through oversight or error intentionally or unintentionally or through a mutual mistake,
been omitted from this Release.
2. ________________ does hereby release, cancel, forgive and forever discharge _________________, and
each of his holding companies, subsidiaries, affiliates, divisions, successors heirs, and assigns in
all capacities whatsoever, including without limitation as an officer, director, employee,
representative, designee, agent, and shareholder thereof, from all actions, claims, demands,
damages, obligations, liabilities, controversies and executions, of any kind or nature whatsoever,
whether known or unknown, whether suspected or not, which have arisen, or may have arisen, or shall
arise by reason of any matter, cause or thing whatsoever, from the first day of the world,
including this day and each day hereafter, and each Borrower does specifically waive any claim
or right to assert any cause of action or alleged cause of action or claim or demand which has,
through oversight or error, intentionally or unintentionally or through a mutual mistake, been
omitted from this Release.
3. The provisions of this Agreement must be read as a whole and are not severable and/or separately
enforceable by either party hereto.
IN WITNESS WHEREOF, the undersigned have executed this Release in triplicate originals as of the
day, month and year first set forth above.
WITNESS:
___________________________________________________________
___________________________________________________________
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