Here is sample Development Contract Template for you. Development contracts are contracts between the owner of a property and the local jurisdiction in which the property is situated for development of the property into real estate assets or buildings. The development may be targeted at improving the landscape of the property, to provide additional transit systems or to raise additional space for business operations. The purpose of such a contract is to specify the standards as well as conditions that will govern the development procedures of the property. The development contract provides an assurance to the developer that the development activities can be proceeded with the terms and conditions existing at the time and that they will not effected by any subsequent changes. We need to be very much careful in using this Development Contract Template.
The contract shall as well describe the various phases in which the development will be completed, the requirements of public property acquisitions, improvements, etc, the developer’s role in compensating the local community for any losses suffered etc. Since, the contract is entered between a local jurisdiction as well as a developer, it has to be signed by the head of the jurisdiction and the developer and by no other personnel. The developer shall be paid consideration or remuneration as per the terms agreed upon in the contract.
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