Area Development Agreement


An Area development agreement is a document which is signed between an individual, company and any other authority so as to develop a particular area. These types of agreements contain the details of the parties concerned and the terms and conditions agreed between them.

Sample Area Development Agreement

This agreement is signed between District Development Authority and the BLOOMBERGH Urban Development Company on 25th June 2011. The agreement comes in effect from 1st August.

The duration of the agreement will be 12months that will include the period of development of the area.

The company will develop roads, footpath, parks, recreation centers and community health clubs in this area. The development plan should adhere with the government’s urban development policy and regulations.

Details of Government Body

Name: District Development Authority

Contact Number: 4963024780

Headed by: Rohm Martin

Details of Developer

Name: Bloomberg Urban Development Ltd.

CEO: Shawn Kilpatrick

Contact Number: 436987025

Terms and Conditions

  1. The development company will follow the environmental, security, quality and public health related norms set by federal government while developing the area.
  2. The ministry will pay a sum of $ 8000 to the developer as the fee of developing job. The developer has to deposit a sum of $ 2500 in advance as security money.
  3. The government posses all rights to cancel or change any clause of the agreement at any time. If the inspection team will not find the developing work as per the above norms than it has complete rights to end the agreement with the developer.

Signature

Rohm Martin

Shawn Kilpatrick

Category: Development Agreements

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