A Joint Venture Agreement Between Land Owner And Developer is essential when two parties wish to combine their resources (land and development expertise) for a property development project. This document, governed by English and Welsh law, establishes the framework for collaboration, detailing each party's contributions, rights, and obligations. It typically includes provisions for land transfer or use, development responsibilities, profit sharing, and project management. The agreement is particularly crucial for ensuring clear understanding of roles, risk allocation, and financial arrangements while maintaining compliance with relevant property, planning, and construction regulations.
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1. Parties: Identification and details of the Land Owner and Developer
2. Background/Recitals: Context of the agreement, including description of the land and development objectives
3. Definitions and Interpretation: Key terms used throughout the agreement and rules of interpretation
4. Joint Venture Structure: Legal structure of the JV and ownership arrangements
5. Land Arrangements: Terms relating to the transfer or use of land, including title warranties
6. Development Obligations: Developer's responsibilities regarding planning, construction, and completion
7. Financial Provisions: Investment commitments, profit sharing, and financial management
8. Management and Control: Decision-making processes and management structure
9. Duration and Termination: Term of the agreement and circumstances for termination
10. Boilerplate Clauses: Standard legal provisions including notices, governing law, etc.
1. Pre-Development Conditions: Specific conditions that must be met before development can commence, including planning permissions, surveys, and feasibility studies
2. Third Party Rights: Provisions dealing with rights of external parties who may have interests in the land or development
3. Environmental Provisions: Specific environmental obligations, protections, and remediation requirements
4. Step-In Rights: Provisions allowing parties to take control in specific circumstances of default or underperformance
1. Property Schedule: Detailed description of the land including title information and plans
2. Business Plan: Detailed development plans, timelines, and budgets
3. Financial Model: Profit sharing calculations and financial projections
4. Development Programme: Detailed construction and development timeline
5. Planning Permissions: Existing and required planning permissions
6. Form of Legal Charges: Security documentation if applicable
7. Service Level Agreement: Detailed service provisions if applicable
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