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REAL ESTATE JOINT VENTURE AGREEMENTTHIS AGREEMENT is made this ____ day of ________, 20______ by and between _______________________ (hereinafter referred to as “Party A”), and _______________________ (hereinafter referred to as “Party B”), collectively referred to as the “Parties”.
RECITALSWHEREAS, Party A, a (state legal entity type – corporation, LLC, etc.) with a primary place of business at (address), and Party B, a (state legal entity type – corporation, LLC, etc.) with a primary place of business at (address), desire to form a joint venture to invest in real estate in the State of New Hampshire; NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:
ARTICLE 1: PURPOSE AND SCOPE OF AGREEMENTThis Agreement sets forth the terms and conditions by which the Parties will form and operate a joint venture to invest in, develop, manage, lease, and eventually sell real property located in the state of New Hampshire.
ARTICLE 2: CONTRIBUTIONSEach party will contribute, in the form of capital, property, services, or expertise, a mutually agreed upon amount as stated in Exhibit A attached hereto.
ARTICLE 3: PROFITS AND LOSSESThe net profits and losses of the joint venture will be divided among the Parties according to the percentages listed in Exhibit B attached hereto.
ARTICLE 4: MANAGEMENT AND CONTROLThe joint venture shall be managed by a management committee, the members of which shall be appointed in the manner stated in Exhibit C attached hereto.
ARTICLE 5: ACCOUNTING AND RECORDSThe joint venture will maintain accurate and complete records of all its transactions. The records will be kept at the joint venture’s principal place of business and will be accessible to all Parties.
ARTICLE 6: TERMINATIONThis joint venture agreement may be terminated by either Party upon written notice, or upon the occurrence of a material breach of this Agreement by either Party.
ARTICLE 7: CONFIDENTIALITYEach Party agrees to keep all information received from the other Party confidential, except as necessary to perform its obligations under this Agreement.
ARTICLE 8: LAW AND JURISDICTIONThis Agreement shall be governed and construed in accordance with the laws of the state of New Hampshire. Any dispute arising from this Agreement shall be resolved in the state or federal courts of New Hampshire.
ARTICLE 9: ENTIRE AGREEMENTThis Agreement contains the entire understanding between the Parties and supersedes any prior understanding and agreements between them respecting the within subject matter. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the day and year first above written. PARTY A: ________________________ DATE: ________________ PARTY B: ________________________ DATE: ________________ This Agreement is subject to the laws and regulations of the state of New Hampshire, including the New Hampshire Uniform Securities Act (RSA 421-B) and the New Hampshire Consumer Protection Act (RSA 358-A). Any violation of these laws may result in civil or criminal penalties. The Parties acknowledge that they have read and understood this Agreement prior to execution, and have had the opportunity to seek independent legal advice. ***Names, dates, addresses, and legal entity types will need to be edited.***
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