How to add more properties to REIN`s JV Agreement

[Doris]

I have some JV partners (2 separate parties) who want to do multiple deals with me. We`re in the process of doing our first deals together and are using the REIN JV Agreement, but I`m wondering how to add future properties. Schedule A of the agreement lists the first property in question but there`s no obvious spot to add others. I`m sure several people in REIN have successfully done this. Can anyone share their how-to suggestions? Many thanks in advance.
-Doris Belland

 

[lanedry77]

QUOTE (Doris @ Apr 1 2008, 01:34 PM) I have some JV partners (2 separate parties) who want to do multiple deals with me. We`re in the process of doing our first deals together and are using the REIN JV Agreement, but I`m wondering how to add future properties. Schedule A of the agreement lists the first property in question but there`s no obvious spot to add others. I`m sure several people in REIN have successfully done this. Can anyone share their how-to suggestions? Many thanks in advance.
-Doris Belland
Hi Doris,

You would just create a copy of Addendum A, call it Addendum B, and put the second property on it. Then both properties follow the same agreement terms.


David.

 

[ToddStokowski]

We use a separate JVA for each property, even if the JV participants are the same.

We like to treat each property separately and depending on how the JVA is drafted if you have multiple properties under one JVA, other provisions of the Agreement would have to be amended to contemplage multiple properties under one Agreement. As a result, we know our JVA and like to keep it simple by not changing any of the terms.

Todd

 

[Doris]

QUOTE (DavidSandbrand @ Apr 1 2008, 03:49 PM) Hi Doris,

You would just create a copy of Addendum A, call it Addendum B, and put the second property on it. Then both properties follow the same agreement terms.


David.

Thanks for your reply David. I presume that you would refer to both Schedules A and B on Page 1 of the agreement under the heading "Formation"?

Doris