The Redevelopment Agreement is essential for projects involving the transformation of existing properties in Malaysia. It is typically used when property owners engage developers to renovate, reconstruct, or repurpose existing buildings or land. The agreement must comply with Malaysian legislation including the National Land Code 1965, Town and Country Planning Act 1976, and various local authority requirements. The document addresses critical aspects such as development permissions, environmental compliance, construction standards, and heritage preservation where applicable. It provides a comprehensive framework for project execution, risk management, and dispute resolution while ensuring alignment with Malaysian regulatory requirements and market practices.
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1. Parties: Identification and details of the contracting parties including the property owner and developer
2. Background: Context of the redevelopment project, current state of the property, and objectives of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Project Scope: Detailed description of the redevelopment work to be undertaken
5. Development Obligations: Key obligations of the developer including construction, timeline, and quality requirements
6. Property Owner's Obligations: Obligations of the property owner including providing access and necessary documentation
7. Regulatory Compliance: Requirements for obtaining and maintaining necessary permits, approvals, and compliance with laws
8. Timeline and Milestones: Project schedule, key milestones, and completion dates
9. Financial Terms: Payment terms, development costs, profit sharing arrangements if applicable
10. Security and Performance Bonds: Requirements for performance bonds and other security arrangements
11. Risk Allocation: Distribution of risks between parties and insurance requirements
12. Default and Termination: Events of default, remedies, and termination provisions
13. Dispute Resolution: Procedures for resolving disputes including mediation and arbitration
14. General Provisions: Standard boilerplate clauses including notices, assignment, and governing law
1. Heritage Preservation: Required when the property involves heritage buildings or is in a conservation area
2. Environmental Management: Required for projects requiring environmental impact assessment or significant environmental considerations
3. Temporary Relocation: Required when existing occupants need temporary relocation during redevelopment
4. Marketing and Sales: Required when the agreement includes provisions for marketing and selling the redeveloped property
5. Profit Sharing: Required when parties agree to share profits from the redevelopment
6. Community Engagement: Required for projects with significant community impact requiring public consultation
7. Phasing Provisions: Required for large-scale projects implemented in phases
1. Property Details: Legal description of the property including title details and site plans
2. Development Plans: Architectural drawings, plans, and specifications for the redevelopment
3. Project Timeline: Detailed project schedule with milestones and completion dates
4. Cost Schedule: Breakdown of development costs and payment schedule
5. Technical Specifications: Detailed technical requirements and building specifications
6. Required Approvals: List of required regulatory approvals and permits
7. Form of Performance Bond: Template for the required performance bond
8. Environmental Requirements: Environmental compliance requirements and mitigation measures
9. Quality Standards: Specified quality standards and inspection requirements
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