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Development Agreement Between Landowner And Developer
"I need a Development Agreement Between Landowner And Developer for a mixed-use commercial and residential project in Mumbai, with construction expected to begin in March 2025, including specific provisions for environmental compliance and a 60-40 revenue sharing arrangement."
1. Parties: Identification and details of the Landowner and Developer, including their registered addresses and authorized representatives
2. Background: Context of the agreement, including property details, development intention, and brief background of both parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Grant of Development Rights: Specific rights granted to the Developer to develop the property, including scope and limitations
5. Consideration and Revenue Sharing: Financial terms, including development costs, profit sharing arrangements, and payment schedules
6. Representations and Warranties: Statements of fact and assurances by both parties regarding their capacity, authority, and property status
7. Developer's Obligations: Detailed responsibilities of the Developer including construction, approvals, and quality standards
8. Landowner's Obligations: Responsibilities of the Landowner including cooperation in approvals and maintaining clear title
9. Project Timeline: Development milestones, completion dates, and extension provisions
10. Approvals and Compliance: Requirements for obtaining necessary permits, licenses, and regulatory approvals
11. Title and Ownership: Clarification of property ownership rights during and after development
12. Default and Remedies: Consequences of breach and available remedies to parties
13. Termination: Circumstances and process for agreement termination
14. Dispute Resolution: Mechanism for resolving disputes including arbitration provisions
15. Governing Law: Applicable law and jurisdiction
16. Notices: Process and addresses for formal communications between parties
17. Miscellaneous: Standard boilerplate provisions including force majeure, amendments, and severability
1. Environmental Compliance: Specific environmental obligations and compliance requirements, used when the project requires environmental clearances
2. Rehabilitation and Resettlement: Provisions for existing occupants' rehabilitation, used when the property has current occupants
3. Marketing and Branding: Rights and obligations regarding project marketing, used when Developer has marketing rights
4. Escrow Arrangements: Details of escrow account management, used for complex financial arrangements
5. Third Party Rights: Provisions regarding rights of third parties, used when other stakeholders are involved
6. Intellectual Property: IP rights in development plans and marketing materials, used for branded developments
7. Insurance: Specific insurance requirements, used for high-value or high-risk developments
8. Force Majeure: Detailed force majeure provisions, used when specific risk allocation is required
9. Assignment and Transfer: Rights to assign or transfer obligations, used when transfer rights are contemplated
1. Property Description: Detailed description of the property including boundaries, survey numbers, and title documents
2. Development Plans: Architectural plans, layouts, and specifications for the proposed development
3. Construction Timeline: Detailed construction schedule with milestones and completion dates
4. Revenue Sharing Structure: Detailed calculations and mechanisms for sharing revenue or profits
5. Required Approvals: List of all required regulatory approvals and permits
6. Title Documents: Copies of property ownership documents and title clearance certificates
7. Financial Terms: Detailed financial arrangements including payment schedules and calculations
8. Technical Specifications: Detailed construction and quality specifications
9. Existing Encumbrances: List of existing liens, encumbrances, or restrictions on the property
10. Power of Attorney: Format of power of attorney to be executed in favor of Developer
Authors
Real Estate Development
Construction
Property Management
Urban Planning
Infrastructure Development
Commercial Property
Residential Property
Mixed-use Development
Architecture and Design
Environmental Services
Legal
Real Estate
Property Development
Construction
Project Management
Compliance
Finance
Environmental
Design and Architecture
Risk Management
Real Estate Developer
Property Owner
Real Estate Lawyer
Legal Counsel
Project Manager
Development Director
Construction Manager
Architect
Urban Planner
Property Surveyor
Real Estate Consultant
Compliance Officer
Finance Director
Investment Manager
Environmental Consultant
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