PROJECT MANAGEMENT AGREEMENT.
This Project Management Agreement entered into on this __________ day of 2022
(hereinafter referred to as “Agreement”) between ______________________,
_____________________ and ___________________ (hereinafter referred to as
the “Investors”) on one part; ______________________ and
___________________ (hereinafter referred to as the “Project Manager”) on the
other part. Together referred to as “parties”.
1. Services.
The parties agree that the Project Managers shall provide the following services;
i. Planning, Organizing, and directing the completion of specific projects for an
organization.
ii. Ensuring the projects are on time, on budget, and within scope.
iii. Initiating
iv. Planning
v. Executing
vi. Monitoring and Controlling
vii. Closing
The Investors shall be responsible for; –
i. To provide payment for real estate
ii. Providing payment for renovation cost
iii. Closing tax on real estate
iv. Making payout to all parties (Project managers and Investors) involved in
investment
v. Own the real estate
2. Term.
The parties agree that the services performed by the parties herein shall be for a
period of five years.
3. Renewal.
The parties herein may renew this Agreement by issuing a 30 days’ renewal request
in writing before the Agreement's termination date.
The parties may then negotiate the renewal of this Agreement through an
addendum.
4. Profits.
Parties herein agree that after the project is completed, the net profit will be split in
the ratio of 50:50 between the investors and the project managers.
Therefore, the three investors will split their 50% equally amongst themselves, while
the two project managers will split their 50% equally.
5. Relationship.
The relationship between the Investors and the Project Managers is that of an
independent contractor, and nothing else will be construed to mean anything else.
6. Confidentiality.
Every party to this Agreement acknowledges and agrees that they will have access
to confidential information regarding the operations and development of the
business. The parties agree not to disclose any of the confidential information
valuable to either party to any third parties without the prior written consent of the
other parties.
7. Warranties.
The Project Managers represent and warrant that the services rendered will be done
using reasonable care, skill, and professionalism. The end products will not infringe
or violate any intellectual property rights of any third parties.
8. Indemnity.
The Investors hereby agree to indemnify the Project Managers against any damage,
liability, claim, and loss incurred due to the services rendered herein by the Project
Managers.
9. Termination.
Either party to this Agreement may terminate the services herein by issuing a 30
days' written notice to the other party clearly stating the reasons for termination, i.e.;
If a party commits a material breach of the terms of the Agreement.
i. Failure to perform.
ii. Failure to make payments.
10. Governing Law.
This Agreement and the terms herein shall be governed and construed in
accordance with the applicable laws of the United States of America.
11. Dispute Resolution.
The parties herein agree that the same shall be amicably resolved between the
parties in case of any conflict regarding the terms herein. If the same fails, the
dispute shall be referred to a neutral Arbitrator, at each party's costs and whose final
decision shall be binding upon the parties.
12. Assignment.
The terms and obligations herein may not be assigned or transferred to another third
party without the other party's written consent.
13. Modifications.
Either party to this Agreement may modify the terms by consent of the other party
and have the modifications in writing and signed by both parties.
14. Waiver.
No waiver by either party of any default shall be deemed a waiver of prior or
subsequent default of the same of other provisions of this Contract.
15. Severability.
Should any provision of this Agreement be deemed invalid or unenforceable, that
provision shall be severed from this Agreement. It shall not affect the other
provisions, which shall continue to be construed as if the invalid provision was not
included.
16. Entire Agreement.
This Agreement constitutes the entire Agreement between the parties and
supersedes any prior negotiations, promises, or contracts, whether written or oral.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
hereinbelow; –
THE INVESTORS; –
Name:
____________________________
Signature:
_________________________
Date:
_____________________________
Name:
____________________________
Signature:
_________________________
Date:
_____________________________
THE PROJECT MANAGERS; –
Name:
____________________________
Signature:
_________________________
Date:
_____________________________
Name:
____________________________
Signature:
________________________
Date:
_____________________________
Name:
____________________________
Signature:
_________________________
Date:
_____________________________
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