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Joint Venture Agreement Between Builder And Landowner
"I need a Joint Venture Agreement Between Builder And Landowner for a mixed-use development project in Toronto, where my company will contribute the land valued at $5M, and the builder will manage construction of a 15-story building planned to commence in March 2025, with a 60-40 profit split in the landowner's favor."
1. Parties: Identification and details of the Builder and Landowner, including their legal status and contact information
2. Background: Context of the joint venture, including description of the land and proposed development
3. Definitions: Definitions of key terms used throughout the agreement
4. Project Scope: Detailed description of the development project, including type of construction and key milestones
5. Contributions: Specification of what each party will contribute (land, capital, expertise, services)
6. Ownership and Profit Sharing: Structure of ownership, profit distribution, and loss allocation
7. Management and Control: Decision-making processes, voting rights, and management responsibilities
8. Development and Construction Obligations: Detailed responsibilities of the Builder regarding construction and development
9. Land-related Obligations: Detailed responsibilities of the Landowner regarding the property
10. Financing: Arrangements for project financing, including capital calls and funding obligations
11. Accounting and Records: Requirements for financial reporting, record-keeping, and audit rights
12. Transfer Restrictions: Limitations on selling or transferring interests in the joint venture
13. Term and Termination: Duration of the agreement and circumstances for termination
14. Dispute Resolution: Procedures for resolving disputes between parties
15. General Provisions: Standard legal provisions including notices, amendments, governing law
1. Development Manager: Used when a separate development manager is appointed to oversee the project
2. Pre-Sales Requirements: Include when the project requires minimum pre-sales before construction
3. Environmental Obligations: Required for properties with known or potential environmental issues
4. Marketing and Sales: Include when the agreement covers the sales phase of the development
5. Construction Financing: Detailed section needed when specific construction financing arrangements are in place
6. Property Management: Include when the joint venture will retain and manage the property post-construction
7. Buy-Sell Provisions: Optional mechanisms for one party to buy out the other's interest
8. Insurance Requirements: Detailed insurance provisions beyond standard coverage requirements
9. Intellectual Property: Include when the development involves unique designs or branding elements
1. Schedule A - Property Description: Legal description and details of the land
2. Schedule B - Project Plans: Architectural plans, drawings, and specifications
3. Schedule C - Development Budget: Detailed project budget including hard and soft costs
4. Schedule D - Construction Schedule: Timeline for construction milestones and completion dates
5. Schedule E - Pro Forma: Financial projections and expected returns
6. Schedule F - Required Approvals: List of required permits, licenses, and regulatory approvals
7. Schedule G - Initial Capital Contributions: Detailed breakdown of each party's initial contributions
8. Schedule H - Insurance Requirements: Specific insurance types and coverage amounts required
9. Appendix 1 - Management Structure: Organizational chart and management procedures
10. Appendix 2 - Form of Construction Contract: Template or final form of construction agreement to be used
Authors
Real Estate Development
Construction
Property Management
Commercial Real Estate
Residential Real Estate
Urban Development
Infrastructure Development
Architecture and Design
Property Investment
Legal
Real Estate Development
Construction Management
Finance
Project Management
Risk Management
Business Development
Operations
Property Management
Executive Leadership
Real Estate Developer
Construction Manager
Property Owner
Development Director
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Project Manager
Construction Site Supervisor
Architect
Real Estate Investment Manager
Development Manager
Contract Administrator
Risk Manager
Finance Director
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