Real Estate Developer Document

REAL ESTATE DEVELOPMENT AGREEMENT

This Real Estate Development Agreement (the Agreement) is made and entered into as of (Effective Date), by and between Developer Name: and Owner Name: .

PARTIES AND CONTACT INFORMATION

PROPERTY IDENTIFICATION

RECITALS

Owner is the lawful owner of the Property and has authority to enter into this Agreement. Developer is engaged in the business of real property development and has represented its expertise, capacity and financial ability to perform the Work described herein. The parties agree as follows.

SCOPE OF DEVELOPMENT; WORK AND DELIVERABLES

Developer shall perform all site preparation, design coordination, construction of improvements and related services necessary to complete the Project consistent with approved plans, permits and applicable law. Specific responsibilities include: entitlement processing, engineering, utility coordination, grading, construction of site improvements, and final project closeout.

SCHEDULE AND MILESTONES

Commencement Date:     Substantial Completion Target:

FINANCIAL TERMS AND ESCROW

Development Fee (total payable to Developer): $     Initial Deposit / Earnest Money: $

Late payment of any sum due under this Agreement shall accrue interest at the lesser of (a) or (b) the maximum rate permitted by applicable law.

PERMITS; APPROVALS; CONDITIONS PRECEDENT

Developer shall be responsible for obtaining all permits, entitlements and approvals required to carry out the Project unless otherwise agreed in writing. All obligations under this Agreement are subject to the satisfaction of the following conditions precedent on or before :

INSURANCE; BONDS; GUARANTEES

Developer shall maintain insurance coverage in commercially reasonable amounts customary for projects of similar size, including general liability in the amount not less than $ and builder's risk coverage in the amount of the completed value of the Project. Developer shall deliver certificates evidencing such coverage prior to commencement.

TITLE, LIENS AND REPRESENTATIONS

Owner represents and warrants that Owner holds good and marketable title to the Property free and clear of liens and encumbrances except those disclosed in writing to Developer prior to the Effective Date. Owner shall provide a current title report and shall cure any undisclosed defects in title prior to substantial completion of the Project.

DEFAULT; REMEDIES; TERMINATION

In the event of a material default by a party, the non-defaulting party shall give written notice specifying the default and a thirty (30) day period to cure, unless a shorter cure period is reasonable under the circumstances. If the default remains uncured, the non-defaulting party may pursue all remedies at law or in equity, including specific performance, damages and termination as provided herein.

DISCOUNTS, TAXES, ASSESSMENTS AND COSTS

Unless otherwise provided herein, Owner shall be responsible for property taxes, assessments and governmental fees attributable to the Property prior to conveyance. Costs of construction, utilities, and connection fees shall be allocated as set forth in this Agreement or as otherwise agreed in writing.

DISCLOSURES

Lead-based paint disclosure:

Mold or water intrusion history:

Prior material damage or remediation:

NOTICES

All notices required under this Agreement must be in writing and delivered to the addresses below by personal delivery, nationally recognized overnight carrier, or registered mail.

MISCELLANEOUS

Governing Law: The validity, interpretation and performance of this Agreement shall be governed by the laws of without regard to conflict of law principles.

Entire Agreement: This Agreement, together with any exhibits, schedules and written amendments, constitutes the entire agreement between the parties and supersedes all prior negotiations, representations and agreements, whether written or oral.

CERTIFICATIONS

Each party certifies that the individual signing on its behalf is duly authorized to execute this Agreement, that the party has the requisite power and authority to perform its obligations hereunder, and that all statements made herein are true and correct.

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