A Joint Venture Agreement For Development Of Land is essential when multiple parties wish to collaborate on property development projects in England and Wales. This document is particularly relevant when combining different expertise and resources, such as when a landowner partners with a developer or when multiple developers pool their capabilities. The agreement covers crucial aspects including ownership structure, financial commitments, development responsibilities, profit distribution, and risk management. It must comply with English property law, planning regulations, and corporate requirements while providing a clear framework for project execution and partner relationships.
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1. Parties: Identification and details of all joint venture partners
2. Background/Recitals: Context of the joint venture and description of the land development project
3. Definitions and Interpretation: Key terms used throughout the agreement and rules of interpretation
4. Joint Venture Structure: Legal structure, ownership percentages, and governance arrangements
5. Property Details: Specific details of the land, including title information and existing encumbrances
6. Contributions: Financial, asset, and resource contributions from each party
7. Management and Control: Decision-making processes and management structure
8. Development Obligations: Responsibilities for planning, construction, and project delivery
9. Financial Provisions: Profit sharing, loss allocation, and financial management
10. Duration and Termination: Term of the agreement and circumstances for termination
11. Boilerplate Clauses: Standard legal provisions including notices, governing law, etc.
1. Environmental Provisions: Environmental obligations and remediation responsibilities when environmental issues are identified in due diligence
2. Planning Obligations: Specific planning requirements and Section 106 obligations when planning permission is not yet secured
3. Third Party Rights: Rights of external parties affecting the development when there are existing third-party interests in the land
4. Intellectual Property: IP rights in development plans and marketing materials when significant IP is being created or used
5. Phasing Provisions: Details of development phases and milestone dates for larger developments delivered in phases
1. Property Schedule: Detailed property information including plans and title documents
2. Business Plan: Detailed development strategy and financial projections
3. Development Programme: Timeline and milestones for the development
4. Planning Permissions: Copies of existing permissions or planning requirements
5. Financial Model: Detailed financial calculations and assumptions
6. Form of Security Documents: Templates for any required security arrangements
7. Management Structure: Organizational chart and governance procedures
8. Service Agreements: Forms of any related service contracts
9. Environmental Reports: Environmental surveys and assessments
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