Development Agreement
Construction Development Agreement
1. Parties
Hannah Smith (Hereinafter referred to as the 'Owner')
Address: 101 Pine Street, #567, Hillside, TX 75001
Development Company LLC (Hereinafter referred to as the 'Developer')
Address: 123 Main Street, Apt 4B, Springfield, IL 62701
2. Scope of Services
The Developer shall execute and deliver a complete commercial complex construction, including all structures, improvements, and facilities required to fully perform and complete all the Work.
3. Responsibilities
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The Developer shall manage and control all aspects of the Project and accept responsibility for the satisfactory completion of construction.
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The Owner shall provide the required approvals and necessary support to the Developer to ensure the project's smooth execution.
4. Compensation
The Developer shall be compensated at a rate equivalent to 10% of the total project cost, payable upon satisfactory completion of each deliverable, as provided in Exhibit A or as otherwise agreed in writing.
5. Project Timeline
The Developer shall commence work immediately upon the signing of this Agreement and shall complete construction of the commercial complex no later than 2 years from the start date unless otherwise extended by mutual consent.
6. Termination
Either party may terminate this Agreement by providing a written notice 30 days in advance. In the event of termination, compensation shall be provided as per work completed till the termination date.
7. Compliance with Local Laws
The Developer agrees to comply with all applicable local, state, and federal codes, laws, and regulations throughout the project's span.
8. Dispute Resolution
Any disputes related to this Agreement shall be resolved through arbitration under the laws of the Owner's jurisdiction.
9. Governing Law
This Agreement shall be governed by the laws of the Owner's jurisdiction.
10. Signatures
By signing below, the parties hereby enter into this Commercial Complex Construction Development Agreement as of the Effective Date, May 5, 2050, and agree to be bound by its terms and conditions.
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Hannah Smith (Owner)
May 5, 2050
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Development Company LLC
May 5, 2050
