Common use of Acquisition of Infrastructure Clause in Contracts

Acquisition of Infrastructure. Developer and the Agency acknowledge that: (i) Developer may be constructing Infrastructure before Funding Sources that will be used to acquire it are available; (ii) The Department of Public Works will inspect Infrastructure and other Improvements and process Payment Requests even if Funding Sources for the amount of pending Payment Requests are not then sufficient to satisfy them in full; (iii) Infrastructure may be conveyed to and accepted by the City before the applicable Payment Requests are paid in full; (iv) If the City accepts Infrastructure before the applicable Payment Requests are paid in full, the unpaid balance will be paid when sufficient Funding Sources become available, and the Acquisition and Reimbursement Agreement will provide that the applicable Payment Requests for Infrastructure accepted by the City may be paid: (A) in any number of installments as Funding Sources become available; and (B) irrespective of the length of time payment is deferred; and (v) Developer’s conveyance or dedication of Infrastructure to the Agency, City, or Other Public Agencies before the availability of Funding Sources to acquire the Infrastructure is not a gift or a waiver of Developer’s right to payment of Qualified Project Costs under this Financing Plan.

Acquisition of Infrastructure. Developer and the Agency Authority acknowledge that: (i) Developer may be constructing Infrastructure before Funding Sources that will be used to acquire it are available; (ii) The Department of Public Works will inspect Infrastructure and other Improvements and process Payment Requests even if Funding Sources for the amount of pending Payment Requests are not then sufficient to satisfy them in full; (iii) Infrastructure may be conveyed to and accepted by the City before the applicable Payment Requests are paid in full; (iv) If the City accepts Infrastructure before the applicable Payment Requests are paid in full, the unpaid balance will be paid when sufficient Funding Sources become available, and the Acquisition and Reimbursement Agreement will provide that the applicable Payment Requests for Infrastructure accepted by the City may be paid: (A) in any number of installments as Funding Sources become available; and (B) irrespective of the length of time payment is deferred; and (v) Developer’s conveyance or dedication of Infrastructure to the Agency, City, City or Other Public Agencies other public agency before the availability of Funding Sources to acquire the Infrastructure is not a gift dedication or gift, or a waiver of Developer’s right to payment of Qualified Project Costs under this Financing Plan.