Time of Request: Friday, January 06, 2012 Client ID/Project Name: Ro-Ji Number of Lines: 67 Job Number: 2827:326401005

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Service: Terms and Connectors Search Print Request: Current Document: 1 Source: NY Transactional Premium LexisNexis Forms Search Terms: Agreement For Joint Venture (New York)

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SCHWARTZ, ELIAS THE LAW FIRM OF ELIAS C. SCHWARTZ 343 GREAT NECK RD GREAT NECK, NY 11021-4220

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LexisNexis(R) Forms: FORM 140-25 LexisNexis(R) Forms

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FORM 25 Agreement For Joint Venture AGREEMENT executed on __________________, ________________________[date], between __________________ __________________, residing at __________________ __________________, City of __________________ __________________, and (list other participants to agreement). WHEREAS, __________________ __________________, as nominee for the parties hereto, has entered into a contract to purchase such premises, upon the terms and conditions set forth in a certain agreement, dated ________________________[date], between __________________ __________________ and __________________ __________________, and WHEREAS, the parties hereto have contributed the following sums for such purpose: __________________$ ____________ __________________$ ____________

(list other participants and amounts) IN CONSIDERATION of the terms of this agreement and other good and valuable considerations, it is agreed as follows: 1. The purposes of this joint venture are to acquire for investment the premises known as (insert short description), to operate, manage and service the premises and to provide funds necessary to acquire same. 2. The name of the joint venture shall be __________________ and the real property may be held in such name and may be conveyed upon the signature of any of the __________________ following joint venturers: __________________ __________________and __________________ __________________. 3. The capital funds of the joint venture shall be used for the purchase of the subject premises and for the operation, management and servicing of the premises. 4. All funds of the joint venture shall be deposited in the __________________ Bank, located at __________________ __________________, City of __________________ __________________, in the name of the joint venture and upon the signature of any (two) of the following joint venturers: __________________ __________________ and __________________ __________________. 5. In the event additional funds will be required to maintain the premises, or to pay necessary charges beyond the amount of the contributions herein made, such further sums shall be contributed in the following proportions:

(list names and percentages of all joint venturers) 6. The joint venture shall terminate upon the sale of the above described premises or by mutual agreement in writing of the joint ventures liable for at least __________________ percent of the expenses and charges as provided for in Paragraph 5 of this agreement. In such event, all the assets shall be liquidated and all liabilities paid. 7. Thereafter, after payment of all liabilities, the funds are to be distributed in the same proportion set forth in Paragraph 5 and losses, if any, are to be borne in the same proportions. After distribution to each of the parties of his capital investment, the surplus, if any, shall be distributed in the same proportions.

8. No interest of any of the joint venturers shall be sold, assigned, hypothecated or otherwise encumbered without the prior consent of all the other joint venturers first obtained in writing. 9. The death of any of the joint venturers shall not act as a termination or dissolution of this joint venture but his adminstrators and personal representatives shall continue as a member thereof and shall be entitled to all benefits thereof and shall be subject to all the liabilities provided for herein. 10. None of the joint venturers shall be entitlted to compensation for management or conduct of the joint venture. 11. All joint venturers shall have equal rights in the management of the joint venture in the proportions set for the in Paragraph 5 and the decision of __________________percent, provided in the Paragraph 5, shall prevail and be binding on the joint venture. 12. This agreement shall be binding upon and shall inure to the benefit of the respective parties hereto, their distributees, adminstrators, legal representatives and assigns. This agreement may not be modified orally. IN WITNESS WHEREOF, the parties hereto have executed this agreement the day and year first above set forth. __________________ __________________ (Acknowledgments) Practice Area(s): Business & Corporate Law, Real Property Law Jurisdiction(s): New York Practice Type: Transactional Form Type: Agreement Original Source: 1-1 New York Real Property Forms Annotated FORM 25

********** Print Completed ********** Time of Request: Friday, January 06, 2012 Print Number: 2827:326401005 Number of Lines: 67 Number of Pages: 14:18:33 EST

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SCHWARTZ, ELIAS THE LAW FIRM OF ELIAS C. SCHWARTZ 343 GREAT NECK RD GREAT NECK, NY 11021-4220