What Is The Meaning Of Development Agreement

The Developers hereby agree to indemnify and hold harmless the Land Sellers against any claim that may be made against the Sellers by or by any Seller and/or damages committed by the Sellers as a result of any breach by the Developers of any of the Building Codes, Rules, orders, guidelines, instructions issued by the municipal corporation of ……. and other authorities concerned in connection with the construction work mentioned above and/or builders involved in the payment of salaries, wages and fees, including the payment of injuries or compensation during the progress of work on various materials mentioned above, as well as in the payment of invoices from suppliers of building materials and in the payment of municipal taxes or in the event of damage or loss, which may be suffered or suffered, put in default by the sellers as a result of the execution of the construction and / or development work on the said property. b. Rs………… (Rupees ………….. only) the additional payment of the share to be paid by the developers to the suppliers in the development on or before …………… non-payment of this amount on the agreed date entitles the seller to demand interest in the amount of .. % per day from the moment of non-payment. One thing that runs through the agreements is that the landowner retains some control over what is developed. The level of control is variable in each agreement, with the landowner maintaining a higher level of control compared to a sales DA and a lower level of control in a service DA. .

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