SnowXNinja

There is a tree another homeowner wants cut down, he doesnt want to pay a tree service to do the work, as a homeowner myself i want to take the tree down myself, and then take the logs to a sawmill. The lumber value covers my costs of removing the tree (Actually several trees) using a large manlift to take down in tiny pieces. Also, it is something i want to do (rent a lift, play logger for a day)

I am very experienced in doing this (operating lifts, sawing, logging etc), however typically the tree's are away from the individuals home, or already down. In this particular case one of the trees is next to the guys house and still standing. The value of the lumber from this tree, and specifically others on the property exceed the expences i would incur in renting a 65' lift (1000$)

Our agreement is mutual, i rent the lift, cut the tree's from the top down, dropping limbs straight down until each tree is short enough it could not possibly hit the house or the property line when the trunk is felled. The homeowner cleans up the firewood and brush where it falls, i take the logs. No money is to exchange hands between us. Sounds simple enough.

I wanted to create a timber contract that specifically outlines who does what, and also that the timber belongs to me before renting the lift, he is cool with that but i want it in writing.

I have created this contract (which also includes maps of the tree's included, deeds etc etc), and we agree on all terms except for one, the question is on the damage clause (4) to property:

1. PRICE. Loggers shall retain one hundred percent of each load of timber cut and sold hereunder.

2. OPERATIONAL CONTROL. No Master Logger, as defined by Kentucky Law, will be present on property to oversee operations under this contract.

3. LIABILITY FOR INJURY. Loggers assume all liability for injury to employees, agents, subcontractors and their employees and agents.

4. LIABILITY FOR PROPERTY DAMAGE: Landowner assumes all liability for damages to property, including real and personal property.

5. TIMELINE: Loggers agree to perform the task of cutting and removing all designated timber before December 31st 2012.

6. ASSIGNMENT AND MODIFICATION: Neither party shall, without prior written consent of the other, assign or otherwise transfer any interest in this contract. Nor shall any amendment or modification of this contract be effective unless reduced to writing and signed by both parties.

7. TIMBER BOUNDARY. Landowner has designated the timber boundary within which the timber harvest shall take place. No trees other than those marked within the designated timber boundary shall be cut or removed. The timber boundary is marked and designated by existing property lines as described in Appendix A and B. Attached hereto is a copy of Landowner’s deed with a description of the property upon which the timber boundary is located (Appendix A) as well as a topographical map of all trees to be harvested (Appendix B).

8. CURRENT OWNERSHIP. Landowner covenants that he is the lawful owner of the timber included in this contract and that no indebtedness or encumbrance exists against the same.

9. EXPECTED DAMAGES TO PROPERTY. Falling trees and branches as well as heavy machinery may damage or kill turf on the property. Trees not listed as designated timber may be struck and damaged as a result of falling trees and branches. Tree trunks may be dragged across property for long distances and will potentially kill grass in their path. Every effort will be made to minimize damages; however no effort will be made to repair any damages.

10. DEBRIS CLEANUP. All non-harvested tree-related material will be left where it falls. Other non-organic trash will be cleaned up at the end of each work day

11. EXCLUSIVITY. No concurrent contract involving the area or period covered in this contract has been or will be entered into by the Landowner without the written consent of the Loggers.

12. RIGHT TO NOT HARVEST. Loggers may, at their discretion, take as many or as few trees as they desire.

13. ACCESS TO PROPERTY. Loggers and their agents shall have access to the property at all reasonable times and seasons for the purpose of carrying out the terms of this contract.

I have been told previously by my insurance company that for this exact situation i am covered, however, i do not want to accept liability when im doing work for free, if say for example a branch or piece bounces off the ground and hits a window, or he claims the equipment damaged his driveway.

Now the question:

Please suggest alternate wording for clause 4, or offer your suggestions for remedying issues such as the above.

Specifically i would like to know why it is different than the principle balance, i can only expect it will be higher than the principle balance? But generally speaking how much higher? I know i will be contacting my bank to find out the exact amount, so please dont suggest that. In the meantime i would just like to learn some general information payoff balances, what economic impact paying off my loan has on the financial institution, and how they can justify asking for a different amount to pay off the loan.

Specificially, why is it that a human can solve a system of equations faster using Gauss elimination, yet a machine prefers cramers rule.