Joint Adventure Agreement


 

This Joint Venture Agreement (the "Agreement"), made and entered into as of this _______ day

of ______________, 20_____ by and between ___________________________ and

 ____________________.


1. Business Purpose:

The business of the Joint Venture shall be to purchase certain real estate located at

____________________________ in the Country of ______________. State of

 __________________

for the purpose of renovation and sale for profit.


2. Term of The Agreement:

This Joint Venture shall commence on the date first above written and shall continue in

existence until terminated, liquidated, or dissolved by law or as hereinafter provided.


3. Obligations Of The Joint Ventures:





4. profits And Losses:

Upon the sale of the property and receipt of all proceeds there from, the parties will be

reimbursed their actual, out of pocket expenses directed related to the Venture. After all

expenses, debts and costs related to the Venture and the property, and parties agree to split

the Net Proceeds as follows:

____________________________ shall receive __________%


____________________________ shall receive __________%


5. Indemnification Of The Joint Ventures:

The parties to this Agreement shall have no liability to the other for any loss suffered

which arises out f any action or inaction if, in good faith, it is determined that such course

of conduct was in the best interests of the Joint Venture and such course of conduct did not

constitute negligence or misconduct. The parties to this Agreement shall each be indemnified by

the other against losses, judgements, liabilities, expenses and amounts paid in the settlement

of any claims sustained by it in connection with the Joint Venture.

6. Dissolution:

The Joint Venture shall be dissolved upon the happening of any of the following events:

(a) The adjudication of bankruptcy, filing of a petition pursuant to a Chapter of the

Federal Bankruptcy Act, withdrawal, removal or insolvency of either of the parties.

(b) The sale or other disposition, not including an exchange of all, or substantially

all , of the Joint Venture assets.

(c) Mutual agreement of the parties.

7. Complete Agreement:

This Agreement constitutes the full and complete understanding and agreement of the parties

hereto with respect to the subject matter hereof, and there are no agreement, understanding,

restrictions or warranties among the parties other than those set forth herein provided for.

8. Uniform Partnership Act

Anything not specifically set forth herein shall be governed by the applicable rules of the

Uniform Partnership Act of the State of __________________________.

In Witness Whereof, the parties hereto have executed this Agreement as of the day and year first

above written. Signed, sealed and delivered in the presence of:



_____________________________
Joint Venture



_____________________________
Joint Venture