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Property Development Partnership Agreement
"I need a Property Development Partnership Agreement for a joint venture between my construction company and an investment firm to develop a mixed-use retail and residential complex in Manchester, with an expected project start date of March 2025 and estimated value of £25 million."
1. Parties: Identification and details of all partnership members
2. Background: Context of the partnership and development project
3. Definitions: Key terms used throughout the agreement
4. Partnership Structure: Legal form and governance of the partnership
5. Capital Contributions: Initial and ongoing financial commitments
6. Profit Sharing: Distribution of profits and losses
7. Management and Control: Decision-making processes and authority levels
8. Development Obligations: Specific responsibilities regarding the property development
9. Term and Termination: Duration and exit provisions
10. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement
1. External Financing: Terms relating to third-party funding arrangements and associated obligations
2. Intellectual Property: Provisions dealing with IP rights, particularly for unique designs or branding
3. Planning Permissions: Specific obligations and processes relating to obtaining and maintaining planning permissions
4. Phase Development: Provisions for staged development including timelines and specific obligations for each phase
1. Property Details: Legal description and title information of the development property
2. Business Plan: Detailed development strategy, timelines, and objectives
3. Financial Model: Budget, costings and profit projections for the development
4. Plans and Drawings: Development designs, specifications, and architectural drawings
5. Planning Permissions: Copies of existing planning permissions and conditions
6. Services Agreement: Details of services to be provided by each partner
7. Construction Program: Detailed construction timeline, milestones, and delivery schedule
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