Fill and Sign the Basic Lease Agreement This Agreement Made Thisday of Form

Equity Share Agreement Recorded Requested By: (Name)When recorded mail to: (Name and address) Agreement made on the (date), between (Name of Investor Alpha) of (street address, city, state, zip code), referred to herein as Alpha, and (Name of Investor Beta), of (street address, city, state, zip code), referred to herein as Beta. Whereas, the parties desire to purchase for investment a parcel of residential property with a home located thereon (the Property); and Whereas, the address of the Property is (street address, city, state, zip code), and the legal description of the Property is as follows: (Legal Description) Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Purchase PriceThe property is to be purchased for $______________ and $_____________ will be paid as a down payment. Of that down payment, $______________ will bepaid by the Alpha and $_____________ will be paid by Beta. The balance is being financed through (name of financial institution) and the loan terms, in part, are as follows: A. Amount Financed: $________________________; B. Rate of Interest: ____%; C. Interest Cap (if variable): ____%; 2. Escrow Expenses: Both parties will share Escrow expenses equally. 3. Beta shall reside in the house (the House) located on Property on the terms set forth herein. 4. Alpha and Beta shall hold title to the Property as tenant in common. 5. Formation of Equity-Sha
For the purpose of facilitating the purchase, the parties agreed as follows: alpha may, within the agreed length of time, create an equity share agreement; provided, however, no earlier than 90 days prior to the closing date. During the term of the equity share agreement, all future rights, powers and privileges to purchase the property are reserved exclusively to beta. 6. Closing date. The closing date shall be a date that is not later than 60 days after the date of this agreement. 7. Reversion and resale of the properties. Alpha or beta may, upon written notice to the other party, revert (revert) back any portion of the purchase price received for the properties or, in the case of both parties having equity in and/or a portion of assets under management therein, such back payments shall be subject first to an escrow and second to the satisfaction of all other terms of the equity share agreement. Upon any such resale or revert to a portion of the purchase price, ALO, the parties agree that, in each case, the purchase price received for the respective properties, shall be subject to a new down payment and an equal amount of the resale or revert to a portion of the purchase price shall be allocated among the principals as a down payment, together with any interest accrued as of the time of resale or revert to a portion of the purchase price, as applicable. 8. Fees and expenses. The parties acknowledge that, in consideration of this transaction, each of them will pay to the other party a fair and reasonable amount of fees and expenses in consideration of the mutual advantages it will derive from this transaction. 9. Limitation. Alpha accepts no liability and is not responsible for any loss, damage, costs or expense relating to the use of the properties. As a result of this limitation of liability and the parties have agreed it shall be a condition of this transaction in accordance with section and section that the parties agree upon: i. That if alpha or beta materially fails to perform its obligations under this agreement, the parties will not be obligated to provide additional or different capital; and ii. That neither party shall use the properties for purposes of avoiding or avoiding taxes or charges relating to the tax treatment of capital gains; or iii. Which one party in this transaction fails to take actions in accordance with section and section of this agreement prior to the closing date; and iv. That alpha shall be liable to the other party for such failure to take actions referred to.