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Memorandum Of Understanding Between Landowner And Developer
"I need a Memorandum Of Understanding Between Landowner And Developer for a mixed-use development project in Dubai Marina, where we're planning to develop a 40-story tower with retail, residential, and office spaces, with construction expected to commence in March 2025."
1. Parties: Identification of the landowner and developer, including full legal names, registration details, and addresses
2. Background: Context of the proposed development, brief description of the property, and parties' intentions
3. Definitions: Key terms used throughout the MOU, including Property, Development, Proposed Project, etc.
4. Purpose and Scope: Clear statement of the MOU's purpose and scope of the proposed development collaboration
5. Property Details: Detailed description of the land, including location, size, and current status
6. Development Concept: Overview of the proposed development project, including intended use and preliminary concept
7. Due Diligence: Framework for conducting technical, legal, and financial due diligence
8. Exclusivity: Terms of exclusive negotiation period between parties
9. Confidentiality: Obligations regarding confidential information exchange
10. Good Faith Negotiations: Commitment to negotiate definitive agreements in good faith
11. Duration and Termination: Term of the MOU and circumstances for termination
12. Governing Law and Jurisdiction: Specification of UAE law application and jurisdiction for disputes
13. Non-Binding Nature: Clear statement of which provisions are binding and non-binding
14. Notices: Process for formal communications between parties
1. Preliminary Cost Allocation: Used when parties want to outline initial understanding of cost sharing for studies and preparation work
2. Development Phases: Include when the project is likely to be developed in multiple phases
3. Joint Venture Framework: When parties contemplate forming a joint venture for the development
4. Government Approvals: When specific government permissions are crucial to project viability
5. Environmental Considerations: When the property has significant environmental aspects to address
6. Community Impact: When development affects existing communities or requires community consultation
7. Financing Framework: When preliminary financing arrangements need to be documented
8. Third Party Rights: When the property has existing tenants or other third-party interests
9. Force Majeure: When parties want to address potential extraordinary circumstances affecting the project
10. Marketing and Branding: When preliminary marketing rights and restrictions need to be established
1. Property Title Documents: Copies of title deed and property ownership documents
2. Site Plan: Preliminary plans showing the property boundaries and proposed development area
3. Concept Masterplan: Initial development concept and masterplan drawings
4. Project Timeline: Preliminary schedule for development phases and key milestones
5. Due Diligence Requirements: Detailed list of required technical, legal, and financial due diligence items
6. Existing Encumbrances: List of any existing rights, restrictions, or encumbrances affecting the property
7. Initial Financial Terms: Preliminary commercial terms and financial arrangements
8. Required Approvals: List of required governmental and regulatory approvals
9. Contact Details: Key contact persons for both parties
Authors
Real Estate
Construction
Property Development
Infrastructure
Commercial Property
Residential Property
Mixed-use Development
Hospitality
Retail
Industrial Development
Urban Planning
Architecture
Sustainable Development
Legal
Real Estate
Development
Project Management
Finance
Investment
Commercial
Construction
Planning
Business Development
Risk and Compliance
Operations
Sustainability
Chief Executive Officer
Chief Development Officer
Real Estate Director
Development Director
Property Manager
Legal Counsel
Project Manager
Land Acquisition Manager
Investment Manager
Construction Manager
Urban Planning Director
Business Development Manager
Finance Director
Commercial Director
Sustainability Manager
Risk Manager
Compliance Officer
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