Restaurant Investment Agreement
Restaurant Investment Agreement
This Agreement is made as of the 1st day of January 2050
BETWEEN:
Emilio's Restaurant, a company duly incorporated under the laws of the state of Washington, having its registered office at 3711 Pinnickinick Street, Olympia, WA 98501, (hereinafter referred to as the "Business"),
AND
Caelus Adams, residing at 606 Redwood Lane, Apt 67, Pineville, TX 75007 (hereinafter referred to as the "Investor").
WHEREAS:
A. The Business is responsibly engaged in the operation of a restaurant; and
B. The Investor desires to invest certain funds in the Business under the terms and conditions herein provided.
NOW, THEREFORE, in consideration of their mutual covenants contained in this Agreement, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
1. INVESTMENT
The Investor agrees to invest $50,000 in the Business in return for 30% of the Business. The investment shall be made upon the execution of this Agreement.
2. DISTRIBUTION OF PROFITS AND LOSSES
All profits and losses of the Business shall be borne and distributed to the Investor and the Business in proportion to their respective ownership percentages.
3. MANAGEMENT OF THE BUSINESS
Except as otherwise provided in this Agreement, the management of the Business shall remain with the Business.
4. REPRESENTATIONS AND WARRANTIES
Both parties represent and warrant that they have full authority and power to enter into this Agreement and that this Agreement is a legally binding obligation, enforceable in accordance with its terms.
5. INDEMNIFICATION
The Business agrees to indemnify and hold harmless the Investor from any losses incurred by the Investor as a result of any breach of this Agreement by the Business.
6. GENERAL PROVISIONS
This Agreement shall be governed by and construed in accordance with the laws of the state of Washington. Any disputes arising out of this Agreement shall be resolved through arbitration in the state of Washington.
IN WITNESS WHEREOF
The parties have executed this Agreement as of the date first mentioned above.
The Business:
__________________________________
Signature of Authorized Representative
The Investor:
__________________________________
Caelus Adams
