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Development Agreement for Harmony Heights Residential Community

1. Parties

1.1. Developer:

[Developer's Name and Address]

1.2. Owner:

[Owner's Name and Address]

2. Project Description

This Development Agreement (the "Agreement") is entered into as of [Date] between the Developer and the Owner to provide for the planning, design, development, construction, and completion of an improved residential community known as "Harmony Heights" (the "Project"). The Project shall consist of [insert number and type of properties], related infrastructure, and amenities, all to be developed on the property described in Exhibit A (the "Property").

3. Project Deliverables and Milestones

3.1. Deliverables:

The Developer shall provide the following deliverables at the completion of the respective milestones as required by the Owner:

(a) A detailed project plan, encompassing design, scheduling, and construction phases;

(b) Architectural and engineering plans for each residential unit, including site plans, utility layout, and grading;

(c) Construction permits and approvals as required by relevant authorities;

(d) Written progress reports at each milestone; and

(e) Completed residential units including appropriate inspections, certifications, and required occupancy permits.

3.2. Milestones:

The Developer shall achieve the following milestones as per the schedule agreed upon by both parties:

(a) Approval of project design and scope;

(b) Execution of construction contracts;

(c) Commencement of construction;

(d) Substantial completion of infrastructure;

(e) Completion of residential units; and

(f) Final acceptance and transfer of ownership to the Owner.

4. Payment Schedule

4.1. Compensation:

The Owner shall pay the Developer a total sum of [total contract price] as full and complete compensation for the Developer's services under this Agreement, subject to adjustments agreed upon by both parties in writing.

4.2. Payment Schedule:

The Owner shall pay the Developer as follows:

(a) [Percentage]% upon execution of this Agreement;

(b) [Percentage]% upon approval of project design and scope;

(c) [Percentage]% upon commencement of construction;

(d) [Percentage]% upon substantial completion of infrastructure;

(e) [Percentage]% upon completion of residential units; and

(f) [Percentage]% upon final acceptance and transfer of ownership.

5. Intellectual Property Ownership

5.1. Ownership:

All intellectual property rights, including but not limited to copyrights, patents, trademarks, and trade secrets, developed by the Developer or its agents, employees, or subcontractors in the performance of the Developer's services under this Agreement (collectively, the "Intellectual Property"), shall be the sole and exclusive property of the Owner. The Developer hereby agrees to assign and transfer, and hereby assigns and transfers, to the Owner all its right, title, and interest in and to the Intellectual Property.

5.2. License:

The Developer grants the Owner a perpetual, irrevocable, worldwide, royalty-free, non-exclusive license to use, reproduce, display, distribute, and modify the Intellectual Property for the Owner's use, sale, lease, or other disposition of the Property or any part thereof.

6. Governing Law and Compliances

This Agreement shall be governed by the laws of the State of [insert state], without giving effect to any principles of conflicts of laws. The Developer shall be responsible for obtaining and maintaining all necessary permits, licenses, and approvals required for the Project, and shall comply with all applicable federal, state, and local laws and regulations in the performance of its services under this Agreement.

7. Termination

Either party may terminate this Agreement upon written notice to the other party if the other party commits a material breach of this Agreement and fails to cure such breach within thirty (30) days after receipt of written notice specifying the breach and requiring its cure.

8. Miscellaneous

This Agreement contains the entire understanding of the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral. This Agreement may only be amended, modified, or supplemented in writing, signed by both parties. The waiver by either party of any right, remedy, or default hereunder shall not be construed as a waiver of any subsequent breach or default.

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

The Developer:

[Developer's Name]

By: ________________________________

Name: [Authorized Signatory]

Title: [Title]

Date: ______________________________

The Owner:

[Owner's Name]

By: ________________________________

Name: [Authorized Signatory]

Title: [Title]

Date: ______________________________