Cohabitation Agreement

COHABITATION AGREEMENT

This COHABITATION AGREEMENT made as of ________,

BETWEEN:

________
of ________
(hereinafter the "First Spouse")

OF THE FIRST PART

-AND-

________
of ________
(hereinafter the "Second Spouse")

OF THE SECOND PART

(hereinafter collectively referred to as the "Parties")

WHEREAS the Parties entered into a relationship on ________;

AND WHEREAS the Parties have willingly entered into this Agreement to provide for all their rights and obligations arising from the breakdown of their relationship or on ceasing cohabitation or death;

AND WHEREAS this agreement shall govern all current and future property of the Parties, whether solely or jointly owned;

NOW THEREFORE, in consideration of the promises and the mutual covenants contained herein, and for other valuable consideration (the receipt and adequacy of which is hereby acknowledged), the Parties hereto agree as follows:

1. APPLICABLE LAW

The Parties agree that the applicable legislation will not apply unless otherwise required by such statute. When applicable, the law governing this Agreement shall be Ontario. The Parties agree that this Agreement shall be construed and governed in accordance with the provisions of the Family Law Act, R.S.O. 1990, c. F.3, as amended (hereinafter the "Act"), and any other relevant family law legislation or case law. Notwithstanding the foregoing, the Parties acknowledge and agree that in the event of ceasing cohabitation or of a breakdown in the relationship, they intend for this Agreement to govern the division of property and support obligations and specifically exclude the application of statute or case law, insofar as such is permitted.

2. COHABITATION

The Parties acknowledge that they are cohabiting and, in the event that the Parties become married to one another, they hereby agree that this Cohabitation Agreement shall automatically be deemed to be a valid and binding marriage contract, and in the event the Parties own a family home, such residence shall be deemed to be the matrimonial home.

3. CHILD

The Parties have the following child together:

________, who was born on ________

4. FAMILY HOME

The Family Home in which the spouses inhabit is municipally known as (or any replacement or substitute therefor):

________

The spouses acknowledge and agree that, during the relationship and subject to any changes in income, mortgage payments shall be made by the First Spouse.

The spouses acknowledge and agree that, during the relationship and subject to any changes in income, the carrying costs of the Family Home, including the taxes, insurance, and utilities, shall be made by the First Spouse.

In the event of a breakdown in the relationship, the Family Home shall be transferred to the First Spouse for their exclusive possession and sole ownership. Second Spouse releases all rights they may have now or in the future in the Family Home, and the First Spouse shall indemnify the Second Spouse, and save them harmless from against any and all obligations and expenses arising out of or relating to the Family Home.

The Family Home is subject to a mortgage on title in the amount of $________ (________). The First Spouse shall be responsible for the mortgage payments.

In the event of a breakdown in the relationship, the First Spouse shall be responsible for the carrying costs of the family home, including the taxes, insurance, and utilities.

5. OTHER REAL ESTATE

The Parties own the additional following real estate. Notwithstanding the real estate hereinafter described, any real estate replaced or substituted therefor shall be deemed to form part of this agreement.

________

In the event of a breakdown in the relationship or if the Parties dispose of the above-mentioned real estate, all interests and ownership shall be exclusively possessed and solely owned by the First Spouse, and the Second Spouse releases all interests they may have therein pursuant to the Act or otherwise.

The above-noted property is subject to a mortgage on title in the amount of $________ (________). The First Spouse shall be responsible for the mortgage payments.

6. ADDITIONAL ASSETS

6.1. Vehicle

The Parties own the following vehicle:

________

All interests in this vehicle and sole possession thereof shall be held by the First Spouse and the Second Spouse releases all interests they may have therein pursuant to the Act or otherwise.

6.2. Off-Road Vehicles

The Parties own the following off-road vehicle:

________

All interests in this off-road vehicle and sole possession thereof shall be held by First Spouse and the Second Spouse releases all interests they may have therein pursuant to the Act or otherwise.

7. PERSONAL CHATTELS AND FURNISHINGS

In the event of a breakdown in the relationship, all personal property, including future property, furnishings, household effects and other chattels will be owned by the Party who purchased such furnishings, household effects and chattels.

8. 255585 28825858

822 252552 25222522, 8522525 2285882 25 822285882, 58858525 82 252 2552828 52225 252852822 22 2588 825222222 85588 82 28225 525, 225 58888822 25522828, 82 2525225 58 2288288:

(8) 822 25222522 5228822525 82 252 22822 25228 22 252 2552828 85588 828222 22 8225 2552828 525 85588 82 5888525 2855882;

(88) 822 25222522 5228822525 82 252 2522 22 222 25522 85588 828222 22 252 25522 52525 85282 2522 252 25222522 88 5228822525 25 85588 828222 22 252 25522 852 852 25282 (82 852 22 5282822 25 225258882) 2552 2522 255855825 252 25222522.

225 2525225 825258222, 522 25222522 255855825 82 222 822582 852 5285 82 252 2522 22 252 22525 822582 85588 828222 22 252 25522 852 255855825 252 25222522, 525 252 222-252822 822582 852 52858 28282 85588 82 522225 22 82 5 2558222.

9. GIFTED AND INHERITED PROPERTY

The Parties hereto agree that any items gifted by way of testamentary disposition or otherwise shall be traced and kept apart from the Parties' net family property and shall belong solely to the Party receiving such gift. Nothing in this Agreement will prevent either Party from making voluntary gifts or testamentary dispositions to the other Party, and such gifts shall not form part of the division of assets as described herein.

10. FINANCIAL DISCLOSURE

The Parties have each made full and frank financial disclosure of all of their assets and liabilities. The Parties shall use the fair market value of such assets, which may be determined with the assistance of a professional advisor. Each Party has made a reasonable investigation into the other's personal financial affairs and is satisfied with respect to the findings in relation thereto.

The Parties further acknowledge and agree that neither of them may contest or argue any term of this Agreement on the basis that there was not full and frank financial disclosure. For greater certainty, the Parties acknowledge that neither of them shall assert that they were unaware of the assets and liabilities and other financial details of the other Party, and where applicable, no claim may be advanced on the basis that no sworn Financial Statements have been exchanged. The Parties are perpetually barred from asserting a claim on the basis that no sworn Financial Statements have been exchanged.

11. PROPERTY RELEASE

Once all property has been divided pursuant to this Agreement, neither Party will have a right to the other Spouse's property, and the Parties forever mutually discharge and release all rights, obligations and interests in the property owned by the other Party, including any actions of unjust enrichment, constructive or other trust, and the Parties shall henceforth independently enjoy all rights and obligations arising from the division of such property without risk of any claims or demands from the other, whether by statute or case law.

12. SPOUSAL SUPPORT

In the event of a breakdown in the relationship, First Spouse shall make monthly support payments to the Second Spouse in the amount of $________ (________), for a period of ________, after such time, payments shall cease to apply. The payments will commence on the first day of the month following execution of this Agreement and will continue on the first day of each month thereafter. The Spouses acknowledge and agree that spousal payments will be made in accordance with this Agreement. The Spouses further acknowledge and agree that any of the following triggering events will terminate such payments:

(i) Marriage or re-marriage, as the case may be, of the Spouse receiving payments;

(ii) Cohabitation of the Spouse receiving payments where such cohabitation exceeds two years;

(iii) Loss of employment by the paying Spouse;

(iv) Disability that compromises the paying Spouse's ability to earn an income;

(v) Death.

13. CHILD SUPPORT

The First Spouse (the "Paying Party") shall pay to the other party (the "Receiving Party") child support, which shall begin on the 1st day of the month following the execution date of this agreement, and such quantum of payments shall be based on the number of children. If eligible children are over the majority age, the quantum of payments shall be based on the following considerations:

(i) income-earning capacity;

(ii) illness or disability;

(iii) scholarships, loans and bursaries if enrolled at a post-secondary institution;

(iv) overall dependency.

The Federal Child Support Guidelines shall determine the quantum of child support. For purposes of determining the appropriate child support consistent with the Federal Child Support Guidelines, the Spouses shall exchange, on an annual basis, income tax returns and notices of assessment and re-assessment. Notwithstanding the foregoing, the Spouses shall keep each other apprised of any substantial changes in their income by providing immediate notice of same.

14. POST-SECONDARY EDUCATION COSTS

The parties confirm their intention that any children will be encouraged to attend a post-secondary educational institution. The First Spouse will be responsible for the following educational costs as long as the child is in continued and regular attendance at a university, college or vocational institution in a course acceptable to each parent and maintains a passing grade:

(I) tuition;

(II) cost of course required textbooks;

(III) on campus residence expenses, if any, during the school terms.

15. LIVING EXPENSES

The Parties acknowledge and agree that they shall each contribute to their daily living expenses in an equitable manner, which shall be based on the respective spouses' earning capacity and financial circumstances. Such contributions are subject to change based on income fluctuations.

Each spouse shall be responsible for their respective personal expenses, including credit cards and miscellaneous spending.

16. DEBTS AND OBLIGATIONS

Subject to any other provision herein, debts and obligations shall belong to the spouse under whose name such debts and obligations are registered. If both names are registered on a mortgage, loan, or other debt, both Parties shall be equally responsible towards such debts, subject to any contrary agreed upon terms herein or by addendum hereto.

In the event of a breakdown in the relationship, neither Party will incur any further debt or liability on the other Party's credit. Any debt accumulated as of the date of this Agreement is the debt of the individual Party, regardless of whether the debt was incurred by joint credit. The Parties intend for their joint account(s) to be beneficially owned by each of them, and they have the right of survivorship.

17. ESTATES AND TESTAMENTARY DISPOSITIONS

Both parties acknowledge and agree to have full testamentary freedom. The Parties have the right to create and execute a will as they see fit. Both Parties further agree not to contest the validity or provisions of the other spouse's will, nor make any claims against the estate of the other. In the event of a breakdown in the relationship, the Parties renounce all rights they may have in the administration of the other's estate.

18. VOLUNTARY SIGNATURE

The Parties are voluntarily signing this agreement aware of its contents and provisions with full knowledge of the effects and significance thereof and such signature is done without coercion or undue influence. The terms of this Agreement are fair and reasonable and the Parties are satisfied with the financial disclosures made to each other.

19. GENERAL PROVISIONS

1) RESOLUTION. In the event of a dispute between the Parties concerning or arising out of the Parties' legal relationship as described herein or arising out of or relating to this Agreement, the Parties shall first attempt to resolve the dispute personally and in good faith. If such attempts at personal resolution fail, the Parties shall submit to family mediation.

2) LANGUAGE. All communications made or notice given under this Agreement shall be in the English language.

3) TIME OF THE ESSENCE. Time will be of the essence in this Agreement.

4) SEVERABILITY. If any provision or term of this Agreement is found to be unenforceable, this Agreement shall be deemed amended to the extent necessary to render the provision otherwise unenforceable and the remainder of the Agreement valid and enforceable. If a court declines to modify this Agreement as provided, the invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of the remaining terms and provisions, which shall be enforced as if the offending term or provision had not been included in this Agreement.

5) HEADINGS. The headings in this Agreement are for convenience only and shall not be construed to limit or otherwise affect the terms of this Agreement.

6) RECONCILIATION. In the event the Parties reconcile, this Agreement shall remain in force and effect unless otherwise revoked by an instrument in writing and signed by both Parties.

IN WITNESS WHEREOF the Parties hereto have executed this Agreement as of the date mentioned above.

Signed, Sealed and Delivered in the presence of:

___________________________
________

___________________________
________

___________________________
Witness

___________________________
Witness