Land Development Partnership Agreement (Alberta)

Set up a partnership to develop and build a commercial office and retail project with this Land Development Partnership Agreement for the Province of Alberta. The parties to the Agreement are the owner of the land to be developed, and a managing partner (the Operator) who will be lending money to the project. Provisions of the agreement include:

• additional partners may be brought on if deemed necessary by the parties;
• apportionment of revenues and expenses between the parties;
• 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 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;
• disposal of partnership assets on termination or dissolution.

This Alberta Land Development Partnership Agreement is provided in MS Word format and is fully editable.