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Supplementary Development Agreement
"I need a Supplementary Development Agreement to modify our existing development agreement dated January 15, 2025, to add a new joint venture partner and increase the project scope to include an additional 50,000 square feet of commercial space in Mumbai."
1. Parties: Identification of all parties to the agreement, including the original parties and any new parties being added
2. Background: Context of the original development agreement and reasons for this supplementary agreement
3. Definitions: Definitions of terms used in the agreement, including both new terms and any modified definitions from the original agreement
4. Reference to Original Agreement: Explicit reference to the original development agreement including its date and parties
5. Scope of Supplementary Agreement: Clear delineation of which aspects of the original agreement are being supplemented or modified
6. Additional/Modified Development Terms: Detailed description of new or modified development specifications, requirements, or conditions
7. Timeline Modifications: Any changes to project timelines, milestones, or completion dates
8. Financial Terms: Changes to payment terms, development costs, or financial arrangements
9. Continued Effect: Confirmation of which original agreement terms remain in full force and effect
10. Governing Law and Jurisdiction: Confirmation of applicable law and courts (especially important in Indian context)
11. Execution: Signature blocks and execution formalities
1. Additional Parties: Section detailing new parties joining the development project, their roles and responsibilities. Include when new stakeholders are being added to the project.
2. Force Majeure Updates: Modified or additional force majeure provisions. Include when new risk factors need to be addressed.
3. Environmental Compliance: Additional environmental requirements or modifications. Include when environmental aspects are being updated.
4. Dispute Resolution Modifications: Changes to dispute resolution procedures. Include when dispute resolution mechanisms need updating.
5. Assignment Rights: Modified terms for assignment or transfer of rights. Include when transfer rights need to be updated.
6. Additional Security: New security or guarantee provisions. Include when additional security arrangements are required.
7. Step-in Rights: Provisions for lender or third-party step-in rights. Include when financing arrangements require it.
1. Schedule 1 - Modified Development Plans: Updated architectural plans, layouts, and specifications
2. Schedule 2 - Revised Timeline: Modified project schedule with new milestones and completion dates
3. Schedule 3 - Additional/Modified Financial Terms: Detailed breakdown of revised costs, payment schedules, and financial arrangements
4. Schedule 4 - Updated Permissions and Approvals: List of new or modified regulatory approvals required
5. Schedule 5 - Modified Technical Specifications: Updated technical requirements and specifications
6. Appendix A - Original Agreement: Copy of the original development agreement for reference
7. Appendix B - New Compliance Requirements: Details of any new regulatory or statutory compliance requirements
8. Appendix C - Additional Property Documents: Any new property-related documents or modified property details
Authors
Real Estate
Construction
Infrastructure Development
Urban Planning
Commercial Property
Residential Development
Industrial Development
Mixed-use Development
Special Economic Zones
Township Development
Legal
Real Estate Development
Project Management
Construction Management
Compliance
Finance
Environmental
Urban Planning
Property Management
Contract Administration
Real Estate Development Manager
Project Director
Legal Counsel
Construction Manager
Property Development Executive
Land Acquisition Manager
Compliance Officer
Contract Administrator
Urban Planning Director
Chief Development Officer
Project Finance Manager
Environmental Compliance Manager
Joint Venture Coordinator
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