Common use of ABANDONMENT OF PROJECT - COSTS AND EXPENSES Clause in Contracts

ABANDONMENT OF PROJECT - COSTS AND EXPENSES. City’s costs and expenses for the preparation of the feasibility report, plans and specifications and all other costs expended by City and required to be reimbursed by Developer to the City hereunder, which are associated with improvements referred to in Exhibit 2 and/or Developer’s plat proposal, shall be paid by Developer even if the proposed development of the Property should be Abandoned by the Developer. For the purposes of this Agreement, “Abandonment” or “Abandoned” of the development of the Property shall mean the failure of Developer to pay any invoice received by Developer from the City, in the time stated in this Agreement, or pursuant to such other payment schedule as approved in writing by the City, after any required notice and expiration of any applicable cure period. Developer has provided sureties, in the form of a cash escrow, to City as follows: PURPOSE AMOUNT Costs associated with preparation of feasibility report $13,700.00 Costs associated with preparation of plans and specifications $53,000.00 TOTAL $66,700.00 If the development is Abandoned, the City may withdraw funds from the above- referenced deposit or surety for the purpose of paying City’s costs referred to in this Section. The above-referenced surety will be released by City to Developer upon Developer providing, and the City accepting, the Petition Items Surety.

ABANDONMENT OF PROJECT - COSTS AND EXPENSES. City’s costs and expenses for the preparation of the feasibility report, plans and specifications and all other costs expended by City and required to be reimbursed by Developer to the City hereunder, which are associated with improvements referred to in Exhibit 2 and/or Developer’s plat proposal, shall be paid by Developer even if the proposed development of the Property should be Abandoned by the Developer. For the purposes of this Agreement, “Abandonment” or “Abandoned” of the development of the Property shall mean the failure of Developer to pay any invoice received by Developer from the City, in the time stated in this Agreement, or pursuant to such other payment schedule as approved in writing by the City, after any required notice and expiration of any applicable cure period. Developer has provided sureties, in the form of a cash escrow, to City as follows: PURPOSE AMOUNT Costs associated with preparation of feasibility report $13,700.00 Costs associated with preparation of plans and specifications $53,000.00 TOTAL $66,700.00 88,000.00 If the development is Abandoned, the City may withdraw funds from the above- referenced deposit or surety for the purpose of paying City’s costs referred to in this Sectionsection. The above-referenced surety will be released by City to Developer upon Developer providing, and the City accepting, the Petition Items Surety.

ABANDONMENT OF PROJECT - COSTS AND EXPENSES. City’s costs and expenses for the preparation of the feasibility report, plans and specifications and all other costs expended by City and required to be reimbursed by Developer to the City hereunder, which are associated with improvements referred to in Exhibit 2 and/or Developer’s plat proposal, shall be paid by Developer even if the proposed development of the Property should be Abandoned by the Developer. For the purposes of this Agreement, “Abandonment” or “Abandoned” of the development of the Property shall mean the failure of Developer to pay any invoice received by Developer from the City, in the time stated in this Agreement, or pursuant to such other payment schedule as approved in writing by the City, after any required notice and expiration of any applicable cure period. Developer has provided sureties, in the form of a cash escrow, to City as follows: PURPOSE AMOUNT Costs associated with preparation of feasibility report $13,700.00 Costs associated with preparation of plans and specifications $53,000.00 TOTAL $66,700.00 $ 60,000 If the development is Abandoned, the City may withdraw funds from the above- referenced deposit or surety for the purpose of paying City’s costs referred to in this Sectionsection. The above-referenced surety will be released by City to Developer upon Developer providing, and the City accepting, the Petition Items Surety.

ABANDONMENT OF PROJECT - COSTS AND EXPENSES. City’s costs and expenses for the preparation of the feasibility report, plans and specifications and all other costs expended by City and required to be reimbursed by Developer to the City hereunder, which are associated with improvements referred to in Exhibit 2 and/or Developer’s plat proposal, shall be paid by Developer even if the proposed development of the Property should be Abandoned by the Developer. For the purposes of this Agreement, “Abandonment” or “Abandoned” of the development of the Property shall mean the failure of Developer to pay any invoice received by Developer from the City, in the time stated in this Agreement, or pursuant to such other payment schedule as approved in writing by the City, after any required notice and expiration of any applicable cure period. Developer has provided sureties, in the form of a cash escrow, to City as follows: PURPOSE AMOUNT Costs associated with preparation of feasibility report $13,700.00 7,900.00 Costs associated with preparation of plans and specifications $53,000.00 $ 22,700.00 TOTAL $66,700.00 30,600.00 If the development is Abandoned, the City may withdraw funds from the above- referenced deposit or surety for the purpose of paying City’s costs referred to in this Sectionsection. The above-referenced surety will be released by City to Developer upon Developer providing, and the City accepting, the Petition Items Surety.

ABANDONMENT OF PROJECT - COSTS AND EXPENSES. City’s costs and expenses for the preparation of the feasibility report, plans and specifications and all other costs expended by City and required to be reimbursed by Developer to the City hereunder, which are associated with improvements referred to in Exhibit 2 Petition Items and/or Developer’s plat proposal, shall be paid by Developer even if the proposed development of the Property should be Abandoned by the Developer. For the purposes of this Agreement, “Abandonment” or “Abandoned” of the development of the Property shall mean the failure of Developer to pay any invoice received by Developer from the City, in the time stated in this Agreement, or pursuant to such other payment schedule as approved in writing by the City, after any required notice and expiration of any applicable cure period. Developer has provided suretiesa surety, in the form of a cash escrowescrow and is separate from the Surety, to City as follows: PURPOSE AMOUNT Costs associated with $ 15,400.00 preparation of feasibility report $13,700.00 Costs associated with $ 46,100.00 preparation of plans and specifications $53,000.00 TOTAL $66,700.00 $ 61,500.00 If the development is Abandoned, the City may withdraw funds from the above- referenced deposit or above-reference surety for the purpose of paying City’s costs referred to in this Section. The above-referenced surety will be released by City to Developer upon Developer providing, and the City accepting, the Petition Items Surety.

ABANDONMENT OF PROJECT - COSTS AND EXPENSES. City’s costs and expenses for the preparation of the feasibility report, plans and specifications and all other costs expended by City and required to be reimbursed by Developer to the City hereunder, which are associated with improvements referred to in Exhibit 2 and/or Developer’s plat proposal, shall be paid by Developer even if the proposed development of the Property should be Abandoned by the Developer. For the purposes of this Agreement, “Abandonment” or “Abandoned” of the development of the Property shall mean the failure of Developer to pay any invoice received by Developer from the City, in the time stated in this Agreement, or pursuant to such other payment schedule as approved in writing by the City, after any required notice and expiration of any applicable cure period. Developer has provided sureties, in the form of a cash escrow, to City as follows: PURPOSE AMOUNT Costs associated with preparation of feasibility report $13,700.00 $ 55,600.00 Costs associated with preparation of plans and specifications $53,000.00 166,600.00 TOTAL $66,700.00 222,200.00 If the development is Abandoned, the City may withdraw funds from the above- referenced deposit or surety for the purpose of paying City’s costs referred to in this Sectionsection. The above-referenced surety will be released by City to Developer upon Developer providing, and the City accepting, the Petition Items Surety.