MoU for Real Estate
1. Purpose
This Memorandum of Understanding (MoU) is entered into on the 7th day of January 2055 between the parties identified below. The purpose of this MoU is to set forth the terms and conditions under which the parties will engage in the development, management, or sale of real estate properties as specified herein.
2. Parties Involved
Party A: [YOUR COMPANY NAME], with its principal place of business at [YOUR COMPANY ADDRESS].
Party B: DockLay, with its principal place of business at Grand Rapids, MI 49501.
3. Responsibilities of Parties
3.1 Responsibilities of Party A
Party A agrees to perform the following functions in relation to this MoU:
Identify potential real estate opportunities and present them to Party B.
Provide expertise and consultation regarding property development.
Negotiate with third parties on behalf of both parties.
3.2 Responsibilities of Party B
Party B agrees to:
Provide financial resources necessary for acquisitions, developments, or management activities.
Collaborate with Party A in decision-making processes.
Ensure compliance with applicable laws and regulations.
4. Term and Termination
This MoU shall commence on the effective date stated herein and shall conclude within two (2) years from such effective date unless terminated earlier by mutual agreement or pursuant to the provisions of this MoU.
5. Confidentiality
Both parties agree to maintain confidentiality concerning all proprietary information shared under this MoU, barring situations where disclosure is mandated by law.
6. Dispute Resolution
In the event of any disputes arising from this MoU, the parties agree to seek resolution through negotiation. Should these negotiations fail, the parties will proceed with arbitration as stipulated by the relevant governing laws.
7. Legal Effect
This MoU is intended to state the intentions of the parties and is not legally binding. The legal obligations of the parties shall be detailed in a subsequent written agreement.
8. Signatures
IN WITNESS WHEREOF, the parties hereto, by their duly authorized representatives, have executed this Memorandum of Understanding as of the date first above written.
Party A:
Party B:
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