The following is a usual form of this contract, and contains the customary clauses, though, as said with reference to the contract of sale, any form may be used which contains the necessary elements of a contract.

Agreement, made and dated between hereinafter described as party of the first part, and hereinafter described as party of the second part, for the exchange of real property;

Witnesseth as follows:

The party of the first part, in consideration of one dollar, the receipt of which is hereby acknowledged, and of the conveyance by the party of the second part hereinafter agreed to be made, hereby agrees to sell, grant and convey to the party of the second part, at a valuation, for the purpose of this contract, of

Dollars, All that land with the buildings and improvements thereon in the

The premises which are to be conveyed by the party of the first part shall be conveyed subject to the following encumbrances:

The party of the second part, in consideration of one dollar, the receipt of which is hereby acknowledged, and of the conveyance by the party of the first part hereinbefore agreed to be made, hereby agrees to sell, grant and convey to the party of the first part, at a valuation for the purpose of this contract, of

Dollars, ALL that land with the buildings and improvements thereon in the

The premises which are to be conveyed by the party of the second part shall be conveyed subject to the following encumbrances:

The difference between the values of the respective premises, over and above encumbrances, for the purpose of this contract, shall be deemed to be

Dollars, and that sum shall be due and payable as follows, by the party of the

The deeds shall be delivered and exchanged at the office of at o'clock on 191

It is agreed by the respective parties hereto that brought about this exchange and that the brokerage shall be paid as follows:

Rents and interest on mortgages and insurance premiums, if any, are to be apportioned, and the risk of loss or damage to the premises by fire, until the delivery of the deeds, is to be borne. by the respective sellers.

If there be water meters on the premises, the respective sellers shall furnish readings to dates not more than thirty days prior to the time herein set for closing title and the unfixed meter charges for the intervening time shall be apportioned on the basis of such last readings.

If there be a mortgage on the premises and such mortgage has been reduced by payments on account of the principal thereof, then the seller agrees to deliver to the purchaser at the time of delivery of the deed a proper certificate executed and acknowledged by the holder of such mortgage and in form for recording, certifying as to the amount of the unpaid principal sum of such mortgage and rate of interest thereon, and the seller shall pay the fees for recording such certificate.

All personal property appurtenant to or used in the operation of said premises is represented to be owned by the respective sellers and is included in this exchange.

All notes or notices of violation of law or municipal ordinances, orders or requirements noted in or issued by the Tenement House or Building Depart' ment or Health Department against or affecting either of the premises above described at the date hereof, shall be complied with by the respective sellers thereof, and the premises shall be conveyed free of the same. The sellers shall furnish the purchasers with an authorization to make the necessary searches therefor.

This contract covers all right, title and interest of the respective sellers, of, in and to any lands lying in the bed of any street, road or avenue, opened or proposed, in front of or adjoining the premises to be conveyed, to the centre line thereof, or all right, title, and interest of the respective sellers in and to any awards made or to be made in lieu thereof, and the sellers will execute and deliver to the purchasers, on closing of title or thereafter, on demand, all proper instruments for the conveyance of such title and the assignment and collection of such awards.

Each of the parties agrees to convey the property hereinbefore described as sold by such party respectively, free from all encumbrances, except as above specified, and to execute, acknowledge and deliver to the other party, or to the assigns of the other party, a deed in proper statutory short form for record containing the usual full covenants and warranty, so as to convey to the grantee the fee simple of said premises free from all encumbrances except as herein stated, and except restrictions imposed by City of New York under resolution of the Board of Estimate and Appointment, adopted July 25, 1916, and acts amendatory and supplemental thereto. The deed, in each case, shall be drawn at the cost of the party of the first part thereto.

The stipulations aforesaid are to apply to and bind the heirs, executors, administrators, successors and assigns of the respective parties. Witness the signatures and seals of the above parties. In Presence of

(L. S.) (L. S.) (L. S.) (L. S.)