THIS AGREEMENT FOR FINANCIAL INVESTMENT REPRESENTATION (this "Agreement") is made and entered into on Tuesday, May 27, 2014 by and between, Mr Rashid Ahmad Sheikh BA.APFA.FCIS, herein after known as ("Representative"), and MAGGIO INTERNATIONAL, LLC, .hereinafter known (" The Company ")
The Company is in the business of purchasing existing medical / professional office buildings, then converting the office buildings ( The Property) into office condominiums and then re-selling 25 % to 79 % of the office suites back to the existing tenants at a profit, while retaining the balance as long term rental income.
Representative agrees to utilize his best efforts to promote the Companys investment projects to Investors as well as solicit long term institutional financing for the portfolio properties.
AGREEMENT
Now therefore, in consideration of the mutual promises and undertakings set out below, The Company and Representative hereby agree as follows.
I.) The Company will pay Representative @ FIVE Percent (5%) of any of Investors cash investment which is due to the Representatives efforts on any and all existing and/or future MAGGIO investment projects that Representatives Investor participates in, without any time limitation.
II.) Payment to the Representative will be made as follows:
a.) UPON THE INVESTORS INVESTMENT and execution of the Investment Agreement by Investor and The Company, The Company will pay Representative Five Percent of the investment made by the Investor by direct transfer to his account as per detail given below:- Account & Bank Name ROUTING FOR MASHREQ BANK PSC 56 A Intermediary Institution //FW026011743 MSHQUS33XXX MASHREQ BANK PSC.,NEW YORKBRANCH . NEW YORK,NY10016 NEW YORK,NY UNITED STATES5 7A Account with Institution /70120054 BAHLPKKAXXX BANKALHABIBLIMITED 74000 KARACHI PAKISTAN 59A Beneficiary Customer IBAN PK 08 BAHL 0063-0081-0034- 0501 Title of Account :Rasheed Ahmad Sheikh Address:P-122 Khiaban-2ImranRoad,Faisalabad NIC 33100-9538410
III.) The Company will also assign Representative (5%) of the Propertys equity in the holding LLC AND- (5%) of the ongoing NET Operating Income, monthly, after Property Acquisition.
Organization and Authority. The Company has been duly organized and is validly existing under the laws of the State of Delaware. The Company has the full right and authority, and has obtained any and all consents required therefore to enter into this Agreement, and to consummate or cause to be consummated the transactions contemplated herein. This Agreement and all of the documents to be delivered by The Company will be authorized and properly executed and delivered by The Company, and will constitute the valid and binding obligations of The Company.
ARTICLE : DUTIES OF THE COMPANY
1.(a) Ascertain the Property Condition. Assure there is no structural or other material physical defect in the Building, and the heating, ventilating, air conditioning, electrical, plumbing, water, roofing, storm drainage,
-2- sanitary sewer systems, and any swimming pool at or servicing the Property, are in good condition and working order, or receive a repair credit. (b) Determine that the target property meets all of its criteria for office condominium conversion. This criteria includes, but is not limited to, at least 25 % of the existing tenants executing a Purchase Agreement along with paying a 10 % earnest money deposit, ascertaining the stability if the existing leasing tenants and the integrity of the real estate property itself.
MISCELLANEOUS
1.Headings. The article and paragraph headings of this Agreement are for convenience only and in no way limit or enlarge the scope or meaning of the language hereof.
2. Invalidity and Waiver. If any portion of this Agreement is held invalid or inoperative, then so far as is reasonable and possible the remainder of this Agreement shall be deemed valid and operative, and effect shall be given to the intent manifested by the portion held invalid or inoperative. Except to the extent provided otherwise herein, the failure by either party to enforce against the other any term or provision of this Agreement shall be deemed not to be a waiver of such party's right to enforce against the other party the same or any other such term or provision.
3. Governing Law. This Agreement and said other instruments shall, in all respects, be governed, construed, applied, and enforced in accordance with the laws of the state of Delaware, where The Company is incorporated.
4. No Third Party Beneficiary. This Agreement is not intended to give or confer any benefits, rights, privileges, claims, actions or remedies to any person or entity as a third party beneficiary, or otherwise.
5. Entirety and Amendments. This Agreement embodies the entire agreement between the parties and supersedes all prior and contemporaneous agreements and understandings relating to the Investment. This Agreement may be amended or supplemented only by an instrument in writing executed by the party against whom enforcement is sought.
6. Execution in Counterparts. This Agreement, and any addendum or amendment thereof, may be executed in any number of counterparts, each of which shall be deemed to be an original, and all of such counterparts shall constitute one agreement. To facilitate execution and delivery of this Agreement and any addendum or amendment thereof, the parties may execute and exchange counterparts of the signature page by telefax or electronic e-mail. The signature of any party to any counterpart may be appended to any other counterpart.
7. Time. Time is of the essence in the performance of this Agreement.
8. Attorneys' Fees. Each party shall be responsible for payment of the legal fees of its own attorneys in preparation of this Agreement and in closing the transaction contemplated herein. However, that should either party employ attorneys to enforce any of the provisions hereof, the party losing in any final judgment after an appellate action has been completed or the time to file for an appeal has expired, agrees to pay to the prevailing party all reasonable costs, charges and expenses, including attorneys fees, expended or incurred in connection therewith.
9. Notices. All notices required or permitted hereunder shall be in writing and shall be served on the parties at the following addresses:
If to Representative: Name: Rashid Ahmad Sheikh Chartered Secretary, Public Finance Accountant ,Corporate Secretary)
If to The Company: MAGGIO International, LLC. c/o Michael D. Maggio; CEO / Manager 2266 S. Dobson Rd. Mesa, AZ 85202 (480) 335-6999
-3- Any such notices shall be e-mail in which case notice shall be deemed delivered on the business day received as evidenced by the confirmation of such transmission. The above addresses may be changed by written notice to the other party; provided, however, that no notice of a change of address shall be effective until actual receipt of such notice. Copies of notices are for informational purposes only, and a failure to give or receive copies of any notice shall not be deemed a failure to give notice.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement on this day and year, pursuant to proper authority duly granted.
REPRESENTATIVE (South Asia, Middle East, Africa) :
Name: Rashid Ahmad Sheikh Chartered Secretary, Public Finance Accountant ,Corporate Secretary)