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Build To Suit Agreement

This Build-to-Suit Agreement template outlines the terms and conditions between a developer and a tenant for the construction of a customized property. It is used when a tenant requires a specific facility built to their specifications.

Updated 15d ago
build-to-suitreal estatedevelopmentcommercial leaseproperty developmentconstruction agreement

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Build To Suit Agreement

Build To Suit Agreement

{{company_name}} {{company_address}} Phone: {{phone}} Email: {{email}} Website: {{website}}

DATE

{{date}}

PARTIES

This Build-to-Suit Agreement ("Agreement") is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

Developer: {{developer_company_name}}, a company duly incorporated under the laws of {{country}}, with its registered office at {{developer_address}} (hereinafter referred to as "Developer").

And

Tenant: {{tenant_company_name}}, a company duly incorporated under the laws of {{country}}, with its registered office at {{tenant_address}} (hereinafter referred to as "Tenant").

Developer and Tenant are hereinafter collectively referred to as the “Parties” and individually as a “Party.”

RECITALS

WHEREAS, Tenant desires to have a property constructed to its specific requirements for the purpose of {{tenant_purpose}} (the “Project”).

WHEREAS, Developer is in the business of real estate development and construction and has the expertise, resources, and capacity to undertake the Project.

WHEREAS, the Parties wish to enter into an agreement for the design, development, and construction of the Project on the terms and conditions set forth herein.

PROPERTY

The property to be developed (the “Property”) is located at {{property_address}}, more particularly described in Schedule A attached hereto. The Property shall be constructed to the specifications outlined in Schedule B (the “Specifications”).

DEVELOPMENT AND CONSTRUCTION

Developer shall, at its sole cost and expense, undertake the design, development, and construction of the Property in accordance with the Specifications and all applicable laws, codes, and regulations of {{country}} and its subdivisions.

Developer shall obtain all necessary permits, licenses, and approvals for the construction of the Project.

The construction completion date shall be on or before {{completion_date}} (the “Completion Date”), subject to force majeure events as defined in this Agreement.

LEASE TERMS UPON COMPLETION

Upon the substantial completion of the Project, the Parties shall enter into a Lease Agreement for the Property (the “Lease Agreement”) consistent with the terms outlined in Schedule C attached hereto. The initial term of the Lease Agreement shall be {{lease_term}} years, commencing on the date of substantial completion.

The initial annual rent shall be {{annual_rent_amount}} ({{currency}}) and shall be subject to escalation as per the terms in Schedule C.

DEFAULT AND REMEDIES

In the event of a material breach of this Agreement by either Party, the non-breaching Party shall provide written notice of such breach, allowing {{cure_period}} days to cure the default. Failure to cure within the stipulated period may result in the termination of this Agreement and/or pursuit of other remedies available at law or in equity.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of {{country}}.

ENTIRE AGREEMENT

This Agreement, including the attached Schedules, constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and agreements, whether oral or written.

SIGNATURES

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

DEVELOPER: _____________________________ By: {{developer_signatory_name}} Title: {{developer_signatory_title}}

TENANT: _____________________________ By: {{tenant_signatory_name}} Title: {{tenant_signatory_title}}

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