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JOINT VENTURE
~ AGREEr1ENT
JOINT VENTURE AGREEMENT
. The undersiqned parties HELEN ZINKER residinq at 1617 :
N.E. Sottong Drive, Jensen Beach, Florida 33457 and GEORGE
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SPERANZO and ANTHONY SPERANZO desirous of entering into this ~
JOINT VENTURE AGREEMENT hereby, agree as follows: ~ ~
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1. GEORGE SPERANGO and ANTIiONY SPERANZD will provide C O
and will make any repairs necessary for completion of the house
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on Lot # 7, Block 2, Sou~hern View Addition as recorded in the ; '
public records of St. Lucie County, Florida. !
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. 2. GEORGE SPERANZO and ANTHONY SPERANZO will be responsible; ~
for the construction loan mortage, held by Citizens Federal ~
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~ Savings.at Ft. Pierce, Florida until the house is sold. :
: 3. The completed residence on Lot # 7 shall be sold by
' GEORGE SPERANZO and ANTHONY SPERANZO. Upon sale of the house on ~
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. Lot # 7 the SPERAZIZO BROTHERS personally guarantee a minimum
return of $10~000.00 plus to HELEN 7INICER due to tne fact that ;
the proceeds from the original contract signed on January 31,
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197f~ wQ?-Q *±c~t ~a? c~ Q„ r.e} ~ 8 j Rlc?ck 2 as ac~reec7 ~
4. The house should be sold not less than 534,000.00 net. '
5. After the aforementioned $10~000.00 plus has been paid
to HELEN ZINKER and after al]. related narketing, closing and ~
mortgage satisfaction expenses have been satisfied, the '
remaining net proceeds from the sale shall go to GEORGE SPERANZO ;
and ANTHONY SPERANZO.
I 6. This Agreement is subject to recordation in the public s
! ; records of St. Lucie County. 1
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~ Dated this 1~ day of November, 1978.
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~ WIT23ESS HELEN ER
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