This is often the case when there is a pre-lease agreement with a tenant, but can also be speculative if the development is not pre-leased at the time of the conclusion of the forward funding contract. The development agreement should also provide for an authorisation procedure for the design of the development. The initial approach should be annexed to the agreement and a specific authorisation from the landowner for derogations from the draft concept should be obtained. In the absence of a draft concept, it is worth considering whether there are minimum requirements for the number of dwellings or commercial buildings as well as a quality criterion. 2. If the Developer is in arrears in the payment of a payment by the due date, the Owner has the right to terminate the Contract and lose all funds paid under this Agreement.

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Last Modified: setembro 17, 2021