This article introduces the items that are normally covered in an REA and why they are important to both the developer and retailer. It should be recognized that the REA can be a two-party agreement (i.e. between the developer and the large retailer) or a tripartite or multi-party agreement (i.e. between the developer and multiple retailers). In addition, it is possible that an REA is concluded between two or more property owners (nor any of them is a retailer) who wish to develop their respective properties jointly. This type of REA is less prevalent and would address some, but not all, issues such as an REA between a developer and a large retailer. The typical two-party REA between a developer and a retailer would solve the following problems. 6. Ongoing alliances with the country, duration and modifications. In particular, the REA should provide that the rights and obligations set out in the REA “work” with the country on the ground subject to the ITA.

In other words, who owns the property subject to the ITA is subject to the conditions and provisions set out in the REA. In addition, the REA should specifically provide for the lifetime of the ITA and the method of modification of the ITA. The REA should provide that the services required by a party to reach the highway around the mall and use the mall`s supply systems are permanent. This is most likely required by the board of directors, responsible for the land, as a condition for the registration of the map that establishes the plots subject to the ITA. In some REAs, parties agree that parking easements will “proceed” in the long term. As a general rule, the REA cannot be changed without the agreement of the developer and the large retailer. However, the REA must be clear as to who has this right of authorization if the ownership of a party is then divided into several immovable property or held by several parties. You can download a Mutual Servitude Agreement form here and adapt the Mutual Servitude Agreement template to suit your needs. 1.

Parking, access, intervention and incidental services. The REA should impose on both parties the most fundamental rights so that their respective real estate can be exploited in harmony. Each party should have the right to reach the other party`s property for parking and access of vehicles and for pedestrians. For example, customers and employees of a large retail property must park wherever they want inside the mall (subject to agreement from the parties to provide special areas for employee parking) and go anywhere in the mall. For guests of the mall residents, the property will be owned by a party and operated as a fully integrated mall….