Vous êtes sur la page 1sur 3

House Renovation Agreement

5 The Cheviots, Camps Bay, South Africa
This AGREEMENT of House Renovation is made as of

, by and between the

undersigned Persons.

I. Formation
The undersigned hereby form an agreement in, and in accordance with the laws of, South Africa

II. Name
The name of the Agreement shall be 5 The Cheviots House Renovation.

III. Term
The Agreement shall begin on

and shall continue until

of the same


IV. Purpose
The purpose of the agreement shall be for Scott Keith Millar to make the capital contributions to start
renovating, or renovate the property located at 5 The Cheviots, Camps Bay, Cape Town, Western
Cape, South Africa, 8005, by the date of the 5th of November 2014. This shall be achieved through
paying a deposit to the chosen architect and hiring the construction company, as well as providing the
resources and funding needed for the project.

V. Meetings
Periodic meetings shall be held regularly as determined by the Agreement.

VI. Capital Contributions

The undersigned partner, Scott Keith Millar will make a minimum investment of the amount required by
the undersigned partner, Kai Scott Millar, whom will be representing Marguerite Millar at regular
monthly meetings. Partners may also make optional additional contributions in any amounts.

VII. Valuation of the Agreement

The current value of the assets of the Agreement, less the current value of the debts and liabilities of
the Agreement (hereinafter referred to as the "value of the Agreement") shall be determined at a
regularly scheduled date and time (hereinafter referred to as the "valuation date") preceding the date of
each periodic meeting.

VIII. Capital Accounts

There shall be maintained a capital account in the name of each Partner. Any increase or decrease in
the value of the Agreement on any valuation date shall be credited or debited, respectively, to each
Partner's capital account on that date. Any other method of valuating each Partner's capital account
may be substituted for this method, provided the substituted method results in exactly the same
valuation as previously provided herein. Each Partner's contribution to, or capital withdrawal from, the
Agreement shall be credited or debited, respectively, to that Partner's capital account.

IX. Management
Except as otherwise determined, all decisions shall be made by Marguerite Millar, represented by Kai
Scott Millar

X. Book of Account
The Book of Account shall be a complete set of accounts, consisting of assets, liabilities, individual
Agreement accounts, and appropriate revenue and expense accounts. It shall use the double-entry
accounting system. Books of Account of the transactions of the Agreement shall be kept and at all times
be available and open to inspection and examination by any Partner.

XI. Annual Accounting and Agreement Audit Committee

Each calendar month, a full and complete account of the condition of the Agreement shall be made to
the Partners. The Annual Accounting for the preceding month shall take place at the Annual Meeting.
All financial transactions shall be reviewed semi-annually by a Agreement Audit Committee.

XII. No Compensation
No Partner shall be compensated for services rendered to the Agreement.

XIII. Termination of Agreement

No termination of the agreement shall be allowed

XIV. Variations
Unless Scott Keith Millar can prove to the undersigned partners that he does not have sufficient capital
funding to allow the start of the House Renovation at 5 The Cheviots, Camps Bay, Cape Town, South
Africa, he shall not be allowed to create variations, without making additional capital contributions by
Kai Scott Millar. No Variations May be made to this agreement.

XV. Forbidden Acts

No Partner shall:

Have the right or authority to bind or obligate the agreement to any extent whatsoever with
regard to any matter outside the scope of the agreement purpose.

Except as provided in this agreement, without the unanimous consent of all the other Partners,
assign, transfer, pledge, mortgage, or sell all or part of his or her interest in the agreement to
any other Partner or other person whomsoever, or enter into any agreement as the result of
which any person or persons not a Partner shall become interested in the Agreement.

Use the Agreement name, credit, or property for other than agreement purposes.

Do any act detrimental to the interests of the agreement or any act that would make it
impossible to carry on the business or affairs of the agreement.

This Agreement of Renovation shall be binding upon the respective heirs, executors, administrators,
and personal representatives of the Partners.

The Partners have caused this Agreement of Partnership to be executed on the dates indicated below,
effective as of the date indicated above.

Partner (Printed Name)

Partner (Signature)

Scott Keith Millar

Kai Scott Millar
Marguerite Millar
Dylan Scott Millar

Date Signed