The Development Lease Agreement serves as a crucial instrument in U.S. real estate development, particularly when property owners wish to maintain ownership while allowing developers to construct improvements. This contract type establishes the framework for complex development projects, outlining construction requirements, timelines, and operational standards while ensuring compliance with applicable regulations. It's particularly useful for long-term development projects where the property owner wants to maintain ultimate control while benefiting from the developer's expertise and investment.
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1. Parties: Identification of lessor and lessee, including legal status and addresses
2. Background/Recitals: Context of the agreement, property description, and development intentions
3. Definitions: Key terms used throughout the agreement
4. Grant of Lease: Formal grant of leasehold interest and development rights
5. Term and Commencement: Duration of lease and conditions for commencement
6. Development Obligations: Lessee's obligations regarding property development
7. Rent and Other Payments: Payment terms, including base rent and development-related payments
8. Insurance and Indemnity: Required insurance coverage and indemnification provisions
9. Default and Remedies: Events of default and available remedies
1. Environmental Provisions: Environmental obligations and compliance requirements for development projects involving environmental considerations
2. Assignment and Subletting: Rights and restrictions regarding transfer of interests when transfer rights are contemplated
3. Financing Provisions: Rights and obligations related to development financing when external financing is required
4. Phasing Provisions: Terms and conditions for phased development applicable to multi-phase development projects
1. Property Description: Legal description of the property and site plans
2. Development Plans: Detailed plans and specifications for development
3. Construction Timeline: Schedule of development milestones and deadlines
4. Rent Schedule: Detailed breakdown of rent calculations and payments
5. Insurance Requirements: Specific insurance coverage requirements
6. Environmental Reports: Environmental assessments and reports
7. Required Approvals: List of required permits and governmental approvals
Relevant legal definitions
Agreement
Applicable Laws
Approvals
Building Permits
Commencement Date
Completion Date
Construction Period
Development Cost
Development Plan
Development Rights
Development Schedule
Environmental Laws
Force Majeure
Improvements
Land
Lease Term
Lease Year
Lessee's Works
Material Adverse Effect
Permitted Use
Plans and Specifications
Premises
Project
Property
Rent
Rent Commencement Date
Required Insurance
Security Deposit
Substantial Completion
Term
Title Matters
Work Schedule
Zoning Laws
Building Standards
Construction Documents
Development Obligations
Operating Expenses
Phase
Project Manager
Site Plan
Applicable Laws
Approvals
Building Permits
Commencement Date
Completion Date
Construction Period
Development Cost
Development Plan
Development Rights
Development Schedule
Environmental Laws
Force Majeure
Improvements
Land
Lease Term
Lease Year
Lessee's Works
Material Adverse Effect
Permitted Use
Plans and Specifications
Premises
Project
Property
Rent
Rent Commencement Date
Required Insurance
Security Deposit
Substantial Completion
Term
Title Matters
Work Schedule
Zoning Laws
Building Standards
Construction Documents
Development Obligations
Operating Expenses
Phase
Project Manager
Site Plan
Clauses
Grant of Lease
Development Rights
Construction Obligations
Property Access
Permits and Approvals
Development Timeline
Rent and Payment
Security Deposit
Insurance
Indemnification
Environmental Compliance
Utilities and Services
Maintenance and Repair
Alterations
Assignment and Subletting
Default and Remedies
Force Majeure
Termination
Representations and Warranties
Quiet Enjoyment
Compliance with Laws
Health and Safety
Construction Standards
Project Management
Quality Control
Financing
Title and Ownership
Dispute Resolution
Notices
Governing Law
Amendments
Severability
Entire Agreement
Confidentiality
Site Access
Inspection Rights
Completion Requirements
Cost Allocation
Property Taxes
Insurance Requirements
Development Rights
Construction Obligations
Property Access
Permits and Approvals
Development Timeline
Rent and Payment
Security Deposit
Insurance
Indemnification
Environmental Compliance
Utilities and Services
Maintenance and Repair
Alterations
Assignment and Subletting
Default and Remedies
Force Majeure
Termination
Representations and Warranties
Quiet Enjoyment
Compliance with Laws
Health and Safety
Construction Standards
Project Management
Quality Control
Financing
Title and Ownership
Dispute Resolution
Notices
Governing Law
Amendments
Severability
Entire Agreement
Confidentiality
Site Access
Inspection Rights
Completion Requirements
Cost Allocation
Property Taxes
Insurance Requirements
Relevant Industries
Relevant Teams
Relevant Roles
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