Agreement (project)

on joint financing of the construction and equipping of a sailing boat

We, the lower signatories to the agreement (hereinafter – the Co-owners)

1. _______________________________________ Passport: series ______ No. _______

We signed an agreement on joint financing of the construction and equipping of the sailing boat project BIC 33, which we approve.
We take note that
a) the amount of construction and equipment – 18000 US dollars;
b) labor costs – 2000 man-hours – are equivalent to 2000 US dollars.
We adopt the following order of construction and operation.
1. At the Constituent Assembly of Co-owners:
1.1. the chairman (Commander) is elected, whose task is to organize and finance construction work;
1.2. the amount of the share of each Co-owner is fixed, depending on the financial contribution made by it.
2. The order of performance of work and reporting.
2.1. The nature of reporting is determined by the Constituent Assembly.
2.2. Mandatory financial, photo and video report is posted on the website
2.3. Details of the equipment of the vessel are established by the Constituent Assembly.
2.4. Acceptance of the boat in operation is carried out under the unanimous agreement of the co-owners.
3. Operation procedure
3.1. Annually, at the beginning of the year, a meeting of the co-owners or their authorized representatives is convened. The decisions of the meeting are assured by the participants in the meeting.
3.2. At the general meeting of the co-owners:
3.2.1. The Commander’s report is heard;
3.2.2. Determined by: Place of vessel operation Temporary navigation boundaries (beginning and end) Number of participating co-owners Average duration of the individual period of operation by dividing the duration of navigation by the number of co-owners (ownership shares) taking in the navigation participation Individual periods of exploitation for co-owners are fixed by lot. The amount necessary for pre-navigation repairs is determined, depending on the duration of operation in the previous season. The order of the boat’s reopening, repair and conservation is determined. The decision on the sale (liquidation) of a ship is made by the majority of votes of all Co-owners of the vessel or their representatives, regardless of the number of shares of ownership.
3.2.3. The Commander is elected for the next term.
1._____________________________________________ __________________________________
Surname, name, patronymic Signature

Date ___________________ Number of copies ______________________

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