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Deed Of Overage
"I need a Deed of Overage for the sale of a 5,000 square meter commercial plot in Zurich, with overage payments triggered if planning permission is obtained before March 2025 for office development exceeding 15,000 square meters of floor space."
1. Parties: Identification of all parties to the deed, including full legal names, addresses, and registration details if applicable
2. Background: Context of the transaction, description of the property, and purpose of the overage arrangement
3. Definitions: Defined terms used throughout the deed, including specific Swiss legal terminology where relevant
4. Property Description: Detailed legal description of the property including land registry details and reference numbers
5. Duration: Period during which the overage provisions remain effective
6. Trigger Events: Specific events or circumstances that will trigger overage payments
7. Calculation of Overage: Formula and methodology for calculating overage payments
8. Payment Terms: Timing, method, and currency of overage payments
9. Security Provisions: Methods of securing the overage obligations, such as charges or guarantees
10. Representations and Warranties: Standard statements of fact and promises by the parties
11. Covenants: Ongoing obligations of the parties during the overage period
12. Assignment and Transfer: Rules regarding transfer of rights and obligations under the deed
13. Notices: Process for formal communications between parties
14. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction
15. Execution: Formal execution blocks complying with Swiss notarial requirements
1. Planning Obligations: Include when overage is linked to specific planning permissions or development rights
2. Tax Provisions: Include when specific tax treatment needs to be addressed, particularly for international parties
3. Step-in Rights: Include when lender's rights need to be protected
4. Dispute Resolution: Include when parties wish to specify arbitration or mediation procedures
5. Force Majeure: Include when parties want to address extraordinary circumstances affecting development potential
6. Currency Provisions: Include for international transactions where currency fluctuations may be relevant
7. Environmental Provisions: Include when environmental factors may affect development potential
1. Property Plan: Detailed plans and drawings of the property
2. Calculation Examples: Worked examples of overage calculations in different scenarios
3. Form of Notice: Template for triggering overage payment notices
4. Development Scenarios: Description of potential development scenarios affecting overage
5. Land Registry Details: Complete land registry information and documents
6. Planning Permissions: Copies of existing planning permissions or development rights
7. Payment Mechanics: Detailed procedures for calculating and processing payments
8. Security Documentation: Forms of security and related legal documentation
Authors
Real Estate
Construction
Property Development
Urban Planning
Infrastructure Development
Commercial Property
Residential Development
Land Investment
Banking and Finance
Legal
Real Estate
Property Development
Planning
Finance
Investment
Construction
Corporate
Commercial
Compliance
Real Estate Director
Property Development Manager
Legal Counsel
Land Acquisition Manager
Planning Director
Investment Manager
Development Director
Project Manager
Real Estate Partner
Commercial Director
Finance Director
Construction Manager
Notary Public
Property Lawyer
Land Registry Officer
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