The builders or developers who are currently engaged in developing and building in Falcon School District 49, El Paso County, Colorado have determined that it is in the best interest of each of them, as well as their industry and community, to donate funds to assist the community with the capital construction for schools and other needs of the community in providing K-12 education.

They have further determined that the best manner to ensure that all members of their industry participate in this effort is for the parties to mutually agree to donate a fixed amount for each building permit issued to each of them to a designated nonprofit organization, the purpose of which is to expend or donate the funds for the purposes of education capital construction and other education needs in Falcon School District 49.

The parties intend to bind themselves to each other to donate the amounts to create a legally binding and enforceable obligation.