Fill and Sign the Form Partnership Contract

Agreement to Form Partnership in the Future in Order to Carry Out a Contract to be Obtained Agreement made on the ________ day of ________ , 20 ________ , between _____________________ (Name of Partner Alpha) of _________________________________________ (street address, city, county, state, zip code) , referred to herein as Alpha, _____________________ (Name of Partner Beta) of _________________________________________ (street address, city, county, state, zip code) , referred to herein as Beta, and _____________________ (Name of Partner Gamma) of _________________________________________ (street address, city, county, state, zip code) , referred to herein as Gamma; 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. If, on or before _____________________ (date), any of the parties is awarded a contract for _________________________________________ (description of contract) , the parties shall form a partnership to carry out the contract, and all of the parties shall share in the profits of the contract. 2. If the described contract is obtained and the partnership is formed, the partnership shall purchase from _____________________ (name of seller), the real property described in Exhibit A attached hereto and made a part hereof. 3. The purchase shall be for the purpose of carrying on the business of the partnership and performing the contract. The described real property is to be purchased for $ _____________________ . 4. If the described contract is obtained, each party shall contribute to the partnership to be formed the sum of $ _____________________ plus ________ % of the price to be paid for the purchase of the described real property. 5. The expenses and profits of the partnership shall be borne by the parties equally. Each party shall own one-third of the assets of the partnership, and be liable for one- third of the liabilities of the partnership. 6. Severability. The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 7. No Waiver. The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 8. Governing Law. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of _____________________ (name of state). 9. Mandatory Arbitration . Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 10. Entire Agreement . This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 11. Modification of Agreement. Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 12. Assignment of Rights. The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 13. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. 14. Compliance with Laws. In performing under this Agreement, all applicable governmental laws, regulations, orders, and other rules of duly-constituted authority will be followed and complied with in all respects by both parties. WITNESS our signatures as of the day and date first above stated. ________________________ _________________________ (Signature of Alpha) (Signature of Beta) _____________________ _____________________ (P rinted Name of Alpha) (P rinted Name of Beta) ________________________ (Signature of Gamma) _____________________ (P rinted Name of Gamma)