Free Land Development Agreement Template
Land Development Agreement
This Land Development Agreement (“Agreement”) is entered into as of March 15, 2050, by and between ApTerra, with its principal address at Omaha, NE 68101 (“Developer”), and [Your Company Name], with its principal address at [Your Company Address] (“Owner”). Each of the Developer and Owner may be referred to herein as a “Party” or collectively as the “Parties.”
I. Recitals
1. Purpose
The Parties desire to set forth the terms and conditions under which Developer will manage and execute the development of the property located at 123 Landview Avenue, Lincoln, NE 68501 (“Property”), owned by the Owner.
2. Property Description
The Property comprises 50 acres, zoned for mixed-use development, and is situated within the jurisdiction of the state of Nebraska.
II. Development Services
1. Scope of Work
Developer agrees to undertake the following tasks:
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Site Planning and Zoning Approvals: Prepare all necessary plans and coordinate with local government authorities.
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Infrastructure Development: Install utilities, roads, and drainage systems.
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Construction Oversight: Manage the construction of commercial and residential structures in accordance with approved plans.
2. Permits and Compliance
The Developer will secure all permits required by local, state, and federal laws and ensure full compliance with applicable regulations.
3. Timeline
The development project will commence on April 1, 2050, and is anticipated to be completed by December 31, 2052, barring unforeseen delays.
III. Compensation
1. Payment Terms
Owner agrees to compensate Developer as follows:
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Initial Deposit: $500,000, payable upon execution of this Agreement.
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Milestone Payments: Payments of $1,000,000 will be made at the completion of each of the three major project phases.
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Final Payment: A final payment of $2,000,000 upon project completion and handover.
2. Reimbursement of Expenses
Owner shall reimburse Developer for all pre-approved, itemized expenses incurred during the project.
IV. Responsibilities of the Parties
1. Responsibilities of Developer
The Developer shall:
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Ensure all contractors and subcontractors are insured and qualified.
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Provide monthly progress reports.
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Act promptly to address any disputes or complaints arising during development.
2. Responsibilities of Owner
The Owner shall:
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Grant access to the Property for all necessary personnel.
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Respond to Developer requests or approvals within 5 business days.
V. Confidentiality
Both Parties agree to maintain the confidentiality of all proprietary and sensitive information exchanged during the course of this Agreement.
VI. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the state of Nebraska.
VII. Termination
1. Termination by Agreement
This Agreement may be terminated by mutual written consent of the Parties.
2. Termination for Breach
Either Party may terminate this Agreement if the other Party materially breaches its obligations and fails to cure the breach within 30 days of receiving written notice.
VIII. Notices
All notices required under this Agreement shall be delivered via email to the following:
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Developer: [Your Email]
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Owner: jeremy@you.mail
Both Parties are encouraged to reach out directly with any queries or clarifications.
IX. Entire Agreement
This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements or understandings. No modification shall be valid unless made in writing and signed by both Parties.
X. Signatory Section
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.
Developer
[Your Name]
Authorized Representative
[Your Company Name]
Owner
Jeremy Marvin
Authorized Representative
ApTerra
