Land Development Agreement
Land development agreement takes place between a real estate builder/developer and a local board authority to develop certain urban or civil amenities on that piece of land. The agreement contains the details of the rules and regulations regarding development of land.
Sample Land Development Agreement
This agreement is made between REAL ESTATE Developer and the MUNICIPAL CORPORATION on 31st August 2011. The agreement will come in to force from 1st October 2011.
The duration for the agreement will be 8 months and the developer is expected to finish the work in this period.
The developer will construct concrete road, parking lot and green belt nearby footpath on this land. He will also develop sewage and drainage pipelines and will do maintenance work where needed.
Details of Real Estate Developer
Name: Callahan Land Developers
CEO: Jack Callahan
Contact Number: 4983201678
Details of Local Board Authority
Name: City Municipal Corporation
Mayer: Mr. Joshua Ginsburg
Contact Number: 4320569715
Terms and Conditions for the agreement
- The land developer will follow the material quality and public health norms and regulations decided by Corporation. Any violation of quality norms will not be accepted.
- The Corporation will pay a sum of $ 6500 to the developer for his work. Before that the developer need to deposit an amount of $2500 to the board as security money.
- The Corporation has complete rights to end the agreement at any level and to hire another person. The developer has to give 15 days of notice in advance if he wishes to end the agreement.
Jack Callahan Mr. Joshua Ginsburg
Category: Development Agreements