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Letter Of Intent Development Agreement
"I need a Letter of Intent Development Agreement for a mixed-use development project in Manchester, where we need to secure exclusivity with the landowner for 6 months starting March 2025, with specific provisions for planning permission and environmental surveys."
1. Parties: Identification and details of all parties involved in the development agreement
2. Background/Recitals: Context of the development project and relationship between parties
3. Definitions: Key terms used throughout the document
4. Project Description: Detailed outline of the proposed development
5. Due Diligence Period: Timeframe and scope for investigations and feasibility studies
6. Binding Terms: Explicitly stated terms that are legally binding
7. Non-Binding Terms: Terms that are expressions of intent but not legally binding
8. Exclusivity: Period during which parties agree not to negotiate with others
9. Confidentiality: Obligations regarding sensitive information
1. Planning Permission: Terms regarding obtaining necessary planning approvals - include when planning permission is not yet secured
2. Funding Conditions: Requirements for securing project funding - include when external funding is required
3. Environmental Conditions: Environmental requirements and assessments - include when environmental concerns exist
4. Break Clauses: Conditions under which parties can terminate the agreement - include when specific exit points are needed
5. Cost Sharing: How preliminary costs will be shared - include when significant pre-development costs are expected
1. Site Plan: Plans and drawings of the development site
2. Development Programme: Proposed timeline for key development milestones
3. Initial Cost Schedule: Preliminary budget and cost estimates
4. Planning Requirements: List of required planning permissions and conditions
5. Due Diligence Requirements: Checklist of required investigations and studies
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