Sample development agreement provides a sample of an agreement that describe the legal format of development agreement. Development agreement is usually signed between a real estate developer and an individual to develop a residential or commercial purpose property.
Sample Development Agreement
This agreement is made between the CLIENT and the REAL ESTATE DEVELOPER on 23rd April 2011. The agreement will be effective from 1st July 2011.
The duration for the project will be 8 months and it will start from the effective date.
The residential property has to be constructed at the land located at:
234 Square Road
The real estate developer will develop the subjected land as a residential apartment for the client with in the mentioned period and if it is delayed than developer will not get paid for that extra period.
Details of the Client
Name: Allison McDermott
Contact Number: 4830569710
Details of the Real Estate Developer
Name: Mike Warren
Contact Number: 4320579604
Terms and Conditions of the sample agreement
The client will pay an amount of $ 1500 as land development fee/charges to the developer in two installments.
The developer will be completely responsible to develop an apartment with all facilities and design as per mentioned by him in the draft plan of the project.
The client will be eligible to make changes in design and construction of apartment at any stage of project and if that change increase the cost of development than client has to pay those additional amounts.
Signature of both the parties to affirm the agreement is given below: