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Spencer Burton introduces Ron Rohde, the Acre legal contributor, who will walk viewers through a waterfall template partnership agreement, a resource requested by many. The agreement is designed for partnerships, typically between a general partner and a limited partner, and outlines the terms of their investment. It specifies the rights and responsibilities of both parties and details how capital returns are distributed upon reaching certain thresholds. Various legal and modeling options can be integrated into the project. Ron is joined by Matthew Green, a seasoned real estate analyst and acquisitions expert, to enhance the discussion on this legal document.