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Joint Venture Agreement Real

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					JOINT VENTURE AGREEMENT This Joint Venture Agreement (the “Agreement”) made this _____ day of ____________ 2007 by and between Atlantic Frontier, LLC (“Atlantic”) and ___________________ (“Investor”). RECITALS 1. Atlantic, a company duly organized and existing under the laws of the Commonwealth of Virginia, is in the business of purchasing real property for investment, some of said properties being held for long term investments and some being rehabbed and sold to third party purchasers. 2. As part of its business plan, Atlantic has instituted a program whereby it will accept money from individuals (the “Invested Funds”) and invest those funds in real property with a guaranteed rate of return to the Investor all as more fully set forth herein. 3. The parties are desirous of memorializing their agreement and setting forth in more detail the relative rights and obligations they have to one another under this Agreement. NOW, THEREFORE, WITNESSETH; that, for and in consideration of the payment of Invested Funds in the amount of $__________, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto do hereby agree as follows: 1. Investor does hereby give to Atlantic the sum of $_____________, the receipt of which Invested Funds Atlantic does hereby acknowledge. 2. Atlantic shall use the Invested Funds to purchase real property in Virginia, the type of real property and location thereof to be in the sole and exclusive discretion of Atlantic. 3. Atlantic shall have the right to commingle the Invested Funds with monies received from other investors, it being understood by Investor that the Invested Funds will be deposited in a bank account containing funds from other investors, all of said monies being considered pooled resources from which Atlantic can

draw from time to time to purchase properties which meet the parameters Atlantic has established for investment purposes. 4. On or about the 31st day of December of each year in which Atlantic has the Invested Funds, Atlantic will pay to Investor a rate of return based upon the amount of Invested Funds according to the following table:

$1-$999 Deposit $1,000-$4,999 Deposit $5,000 and above Deposit

7.02% guaranteed rate of return 10.02% guaranteed rate of return 12.00% guaranteed rate of return

The rate of return shall be adjusted in the first year based upon the month in which the Invested Funds were received by Atlantic and, in the last year, by the time of year the Invested Funds are returned to Investor. By way of example, if Investor pays to Atlantic $1,000 as Invested Funds in June, the sixth month of the year, then Investor’s rate of return for the initial investment year shall be either 5% or 5.83% calculated as follows: 10% per annum equates to .83% rate of return per month. If Investor deposits funds with Atlantic prior to the 15th day of any given month, then that month will be included in calculating the rate of return for the initial investment year, and if funds are received after the 15th day of any given month, then that month will be dropped from the calculation. In the example, 5% represents interest adjusted if paid after the 15th of June (6 months: July – December) X .83% and 5.83% represents interest adjusted if paid prior to the 15th of June (7 months: June-December) X .83%. Likewise, if Investor requests disbursements of his Invested Funds in October, his rate of return would be based upon a ten (10) month calculation if the 60th day falls after the 15th of October and nine (9) months if the 60th days is before the 15th of October. 5. Investor shall have the right to pay additional monies to Atlantic over a period of time to be added to his initial investment, the parties acknowledging that Investor’s guaranteed rate of return shall be adjusted from time to time based upon the total dollar amount of his Invested Funds as they may increase over time. However, Investor’s higher guaranteed rate of return shall become effective at such time as his total Invested Funds exceeds the highest deposit figure for each investment tier as shown above and shall not be retroactive. Said increase may occur through additional deposits toward his Invested Funds or by adding his return on investment to his Invested Funds. For example, if Investor’s initial investment is $750 and over the following four (4) months he invests an additional $50 and after one (1) year his return on investment totals $55, then his total Invested Funds will equal $1,005 after one year. Consequently, Investor’s guaranteed rate of return shall increase from 7% to 10% based upon the sum of his Invested Funds totaling $1,000 or more. 6. Investor shall have the right to request a refund of its Invested Funds at any time by giving Atlantic 60 days written notice of its request. The notice must be

mailed to Atlantic at its business address by certified mail, return receipt requested. Atlantic shall issue a check to Investor, upon the 60th day after the date of the request. Further, if the Invested Funds are withdrawn prior to one (1) year from the time of initial investment, then Investor’s guaranteed rate of return shall be reduced by 50%. 7. Investor understands that Atlantic has developed expertise in investing in real property and as such Atlantic shall be solely responsible for choosing the properties in which to invest, which properties may include without limitation single family residences, condominiums, townhomes and multi-family dwellings. Investor shall have no right to choose or dictate to Atlantic with respect to which properties to acquire, it being understood that Investor’s sole right hereunder shall be to receive its guaranteed rate of return annually and its Invested Funds at such time as they are requested in compliance with the terms set forth above. 8. To maximize the benefit to Investor and Atlantic of the liability umbrella afforded under Virginia law by its limited liability company statutes, Atlantic shall have the right to place any property purchased with Invested Funds in a limited liability company organized and managed by Atlantic, said right to be exercised in Atlantic’s sole discretion. 9. This Agreement shall inure to the benefit of and bind the heirs, successors and assigns of the parties hereto. This Agreement shall be interpreted under the laws of the Commonwealth of Virginia. This Agreement may not be modified or amended without the written consent of both Atlantic and Investor. This Agreement shall not be interpreted as a partnership and shall not authorize either Atlantic or Investor to contractually bind the other without the written consent of the other party. Atlantic and Investor have been advised to seek independent legal counsel with regard to this Agreement and the obligations imposed thereby.

WITNESS the following signatures and seals: ______________________________ Atlantic Frontier, LLC ______________________________ Investor ______________________________ Witness


				
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