Developer Requirements and Responsibilities Clause Samples

Developer Requirements and Responsibilities. The University expects to form a close, collaborative, mutually rewarding and long-term relationship with a Developer who has the depth of knowledge and ex- perience and financial strength to fulfill the following general requirements for the Project: 1. Negotiate in good faith and in a timely manner all agreements required for the Project, with amendments to and restatement of the agreements whenever necessary. 2. Advise the University about Project development matters. 3. Select and retain, if required by the University and the Project, some or all consultants and contractors for the Project. 4. Assume all of the development costs, obligations, risks and responsibilities. 5. Prepare a development program including, but not limited to, space program, facilities plan, land use feasibility and fitment study, market study, time schedule, financial pro forma, investment analysis, asset management plan and strategic action plan for the Project. 6. Assist the University with negotiating any ground lease matters for the Site with HCDA, and sublease the Phase II portion of the Site from the Univer- sity, if requested to do so. The Phase II portion is not a subdivided parcel. 7. Prepare and remediate the Phase II portion of the Site for construction of the Project’s improvements. 8. Plan, design, develop, finance, entitle, construct and manage the Project. 9. Prepare and implement a communications plan, including regular oral and written Project progress reports to the University and HCDA and other com- munications to pertinent government officials, public agencies, stakeholders and the public. The Developer’s activities under the Agreement with the University are expected to commence by late 2005, with construction of the new facility commencing as soon as practicable and being completed by the end of 2008. As the University is desirous of having the Project started and completed as soon as practicable, time is of the essence and the Developer should plan and act accordingly.