This Investment Agreement (hereinafter referred to as the “Agreement”) is made and entered on this ____ day of _____ 2021 (the “Effective Date”), between ________________, Contact Info: __________ (hereinafter referred to as the “Investor”), and _________________, Contact Info: ____________ (herein referred to as the “Builder”).
NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties hereto, the Parties covenant and agree as follows:
The initial term of this Agreement shall be indefinite as long as the Investor has any asset ownership.
- Horizontal Development-The Investor shall bring in 100% of the horizontal development (shall include all the money needed to bring the land to be ready to break the ground for vertical construction).
- Vertical Construction-the Investor shall have the discretion to sign necessary paperwork for vertical construction. If the Investor decides to participate in the vertical construction, the Investor shall provide 100% of the money for the project.
- The lots or completed units shall be sold at any stage upon Parties reaching a mutual agreement on the same.
- The Investor shall finance any project stages as required during the term of this Agreement.
- The Builder shall request funding in 3 draws based on a negotiated and approved budget.
- The Parties shall split equally at 50/50 all the net profits from the land appreciation as a result of horizontal development. The net profit shall be calculated depended on the current market valuation, and in case of any disagreements arising from this calculation the Parties shall order an appraisal.
- The Parties shall split equally at 50/50 all the net profits form the vertical construction, and additional Eighty Thousand Dollars ($80,000) annual salary for the Investor payable monthly, from the superintendent starts at first ground breaking and ends with the last certificate of occupancy.
- If upon completion all the units shall be rented, the net rental income shall be equally split between the Parties at 50/50.
- LICENSES AND PERMITS.
The Builder shall be responsible for ensuring that all the construction licenses and permits are acquired for the project.
- ASSIGNMENT/FORCE MAJEURE/WAIVER.
- The Builder shall not assign their obligations their services without prior written notice and/or consent from the Investor.
- The failure on the part of the Builder to perform their obligation within the timeframe provided under this Agreement will not be considered as default if such failure is the result of natural calamities, acts or God, Covid-19, extreme adverse disasters and circumstances beyond the control of the parties. The Builder shall however be required to inform the Investor of such delays promptly.
- The waiver by either party of any breach or failure to enforce any of the terms of this Agreement at any time shall not in any way affect, limit, or waive such Party’s right thereafter to enforce and compel strict compliance with every term and condition of this Agreement.
Parties agree that this Agreement shall be terminated when all the assets covered herein are sold and the profits split between the Parties as discussed.
- GENERAL PROVISION, DISPUTE RESOLUTION, GOVERNING LAW AND JURISDICTION.
- This Agreement contains the entire Agreement between the Parties relating to the subject matter hereof and supersedes any and all prior agreements or understandings, written or oral, between the parties related to the subject matter hereof. No modification of this Agreement shall be valid unless made in writing and signed by both parties hereto.
- In the unfortunate event of issues arising from the performance of this Agreement, the Parties agree to submit the matter to a mediator. This Agreement shall be governed by and construed in accordance with the laws of Florida, USA. Exclusive jurisdiction and venue shall be in Florida, USA.
- Each party represents and warrants to the other that such party has acted in good faith, and agrees to continue to so act, in the negotiation, execution, delivery, performance, and any termination of this Agreement.
IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective Date.
INVESTOR: _____________ ________________________ ___________
(SIGNATURE) (NAME) (DATE)
BUILDER: _____________ ________________________ ___________
(SIGNATURE) (NAME) (DATE)
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