-JV Virtual Agreement-

 

THIS JOINT VENTURE AGREEMENT (“Agreement”), is effective as of the latest date this Agreement is executed by the Parties as set forth by submission (“Lead or Deal”) to webform portal, SMS, or email transmission.(the “Effective Date”).


1. BASIC TERMS. This Section 1 defines the Basic Terms of this Agreement.
1.1 Property: Parcel or Address as well as Parcels or Addresses shall be included in webform submission, SMS, or email transmission. Any real property not included or undiscovered prior to submission shall be excluded for purposes of additional submissions
1.2 Parties: PARTY A: Person or Persons addressed as “JV Partner” for purposes of submission shall be identified as legal name or entity and by submitting agrees and holds true all additional contact information provided
Name, phone number, email
PARTY B: Person, persons, or entity thus described CashQuickBuyers, LLC
1.3 Title to the Property shall be decided at Disposition and held in the name of agreed upon Party
1.4 Compensation Prior to Allocation of Profit: No Parties will be compensated on their investment prior to the allocation of Profit
1.5 Allocation of Expenses: Shall be determined and agreed upon by all parties prior to engagement of disposition and/or closing of escrow
1.6 Profit shall be allocated as follows:

-Party A shall receive 40% of the received net Profit; if lead is submitted with short-term follow-up(Defined as “Lead Management under thirty calendar days”), acquisition contract(“Closing”) and disposition(“Selling”) of deal. This includes any and all Transaction Coordination

– Party A shall receive 25% of the received net Profit; if lead is submitted with mid term follow-up(Defined as “Lead Management over thirty but no greater than ninety calendar days”), acquisition contract(“Closing”) and disposition(“Selling”) of deal. This includes any and all Transaction Coordination

-Party A shall receive 10% of the received net Profit; if lead is submitted with long term follow-up(Defined as “Lead Management over ninety calendar days”), acquisition contract(“Closing”) and disposition(“Selling”) of deal. This includes any and all Transaction Coordination. In addition, these terms also reflect any SFR “portfolio”, commercial, or multifamily referrals.

– Party A shall receive 50% of the received net Profit or written agreed upon amount; If lead is submitted with only disposition(“Selling”) of deal. This may or may not include any and all Transaction Coordination

1.7 Additional Terms and Conditions: All additional Terms and Conditions shall be set in writing and accepted by any form of communication and/or transmission

2. PURPOSE OF JOINT VENTURE. The purpose of this Agreement and the joint venture
described herein shall be for the Parties to acquire, sell and/or hold the Property for Profit (the
“Purpose of the Joint Venture”).

3. EXPENSES. The term “Expenses” shall mean all amounts paid or incurred by the Parties
for the Purpose of the Joint Venture, which Expenses include, but are not limited to, all amounts
paid for the acquisition of the Property, interest on any loans obtained or consented to by the Parties
related to the Property (excluding interest on any loans obtained by a Party for the purpose of
paying their share of the Expenses), all costs related to the remodeling and/or rehabilitation of the
Property, insurance, property taxes, utilities for the Property, advertising costs, staging costs,
commissions, and closing costs for the acquisition and sale of the Property. The Expenses shall
be allocated to and paid by the Parties as set forth in Section 1.5. In the event a Party fails or
refuses to pay their portion of the Expenses as required herein, the other Party(ies) may, after five
(5) days written notice to the non-paying Party, pay the non-paying Party’s share of the expenses
in which event the Party(ies) paying the non-paying Party’s expenses shall receive compensation
of 25% of the amount paid on the non-paying Party’s behalf prior to allocation of any Profit.

4. PROFIT. The term “Profit” shall mean: (A) the amount remaining from the Parties’ sale
of the Property after the repayment of any liens secured by the Property, payment of all Expenses
related to the sale of the Property, repayment to the Parties for all Expenses previously paid, and
the payment of compensation to any of the Parties as set forth in Sections 1.6 and 3; and/or (B) the
cash flow from the Property after the repayment to the Parties for all Expenses, and the payment
of compensation to any of the Parties as set forth in Sections 1.6 and 3. The Profit shall be allocated
to the Parties as set forth in Section 1.6.

5. ESCROW INSTRUCTIONS UPON THE SALE OF THE PROPERTY. Except to the
extent the Parties agree otherwise in writing, the Parties, upon the sale of the Property,shall prepare
irrevocable escrow instructions setting forth the distribution of Expenses, compensation and Profit
to be paid to each Party from closing of the sale of the Property and deliver said escrow instructions
to the appropriate closing agent.

6. TERMINATION OF THIS AGREEMENT. This Agreement shall terminate upon the
sale of the Property and full payment to each Party of the amounts each Party is entitled to receive
under this Agreement or upon the written agreement of the Parties.

7. RESOLUTION OF DISPUTES. The Parties commit to each other to resolve any issues
in a commercially reasonable manner as promptly as possible. In the event of a deadlock and upon
written demand by one of the Parties, a disputed issue will be presented to a mediator with
commercial dispute resolution experience. The written demand must include the names of three
(3) acceptable mediators available to mediate the issue within ten (10) business days. Each Party
shall be responsible for paying their pro-rata portion of the mediator’s fees based upon the
percentage of Profit to be allocated to each Party under Section 1.6. The mediation will be held in
the state and county where the Property is located unless otherwise agreed upon by the Parties.
The Parties may be represented by counsel in the mediation. Each Party is responsible for their
attorneys’ fees and costs associated with the mediation.

8. COSTS AND ATTORNEYS’ FEES. In the event of litigation arising out of this
Agreement instituted by any one of the Parties to it, the prevailing party shall be entitled to recover
all costs and expenses, including reasonable attorneys’ fees, incurred by the prevailing party in that
litigation and the costs and attorneys’ fees related to collection of any amounts awarded.

9. NO ORAL CHANGES OR REPRESENTATIONS. This Agreement supersedes any
and all prior understandings and agreements. This Agreement may be amended or modified only
in writing signed by the Parties.

10. NOTICES. Any and all notices, demands or requests required or permitted hereunder
shall be in writing and shall be effective upon personal delivery or when sent by electronic mail
addressed. Any Party may change its email address for notice by giving notice of change of email address in
the manner provided above. The inability to deliver a notice because of a changed email address
of which no notice was given shall not affect the effective date or effectiveness of the notice.

11. MISCELLANEOUS.
11.1 Assignment. No Party may assign this Agreement without the written consent of
all other Parties hereto.
11.2 Additional Terms and Conditions. The Parties agree to be bound by and to perform
the additional terms and conditions specified in Section 1.7.
11.3 Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the Parties hereto and their respective successors and assigns.
11.4 Waiver. The waiver by any party hereto of any right granted to it hereunder shall
not be deemed to be a waiver of any other right granted hereunder, nor shall the same be deemed
to be a waiver of a subsequent right obtained by reason of the continuation of any matter previously
waived.
11.5 Severability. If any provision of this Agreement or any portion of any provision of
this Agreement shall be deemed to be invalid, illegal or unenforceable, such invalidity, illegality
or unenforceability shall not alter the remaining portion of such provision, or any other provision
hereof, as each provision of this Agreement shall be deemed severable from all other provisions
hereof.
11.6 Time is of the Essence. Time is of the essence with respect to the performance of
all terms, conditions and provisions of this Agreement.
11.7 Choice of Law. This Agreement shall be governed and enforced under the laws of
the state where the Property is located without regard to any conflict of law provisions.
11.8 Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be deemed an original and all of which when taken together shall constitute
one instrument. The parties may execute this Agreement by electronic means and may deliver
their signatures by submission of JV lead or deal, facsimile transmission or .pdf e-mail delivery, and such transmission shall have
the same effect as delivery of original signatures.

CashQuickBuyers