Alberta Land Development Partnership Agreement

Set up a partnership to develop and build a commercial office and retail project in Alberta with this Land Development Partnership Agreement template.

• The Agreement is between the owner of the land to be developed, and a managing partner (the Operator) who will be lending money to the project.
• Additional partners may be brought on if deemed necessary by the original partners.
• The Operator will advance sufficient funds to the partnership which will be lent to the owner interest-free for demolition and to secure surrender of existing leases.
• Details of the Operator's compensation for managing development, construction and completion of the project.
• Procedure for advances made to the partnership by a partner.
• Buy-sell provisions which give the other partners a right of first refusal to purchase the interest of a departing partner.
• Procedure for disposing of the partnership assets on termination or dissolution.