Music Doc director needs help with licensing queries

I am about to take on a fairly large documentary about local musicians. I am wondering if anyone here can help me find a music licensing contract template. Also, I don't know how some of the musicians are going to want me to compensate them for their music. I do want to give them a percentage of the profit, but where do I find a contract template with that built in....and if I get these musicians to sign waivers for their music, then do I have to keep paper records of all my profit? It won't be much money anyway...please help me and tell me what you would do...I have about $400 to spend on music rights if these musicians want an up front payment (keep in mind they're local, so this isn't bad money for them...and it IS a lot of money for me to spend...I have no budget).

...Oh yeah, and by the way, this doc will be about several different artists and bands. It should be fun to make, but complicated to get all the rights.
 
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