Common use of Adjustment of the Applicable Fees Clause in Contracts

Adjustment of the Applicable Fees. The Applicable Fees shall be adjusted from the last adoption or amendment date of each specific fee prior to the Effective Date to the date of the issuance of building permits for the building in question. Fees shall be adjusted by the cumulative changes in the Engineering News Record Construction Cost Index (ENR CCI) between the Effective Date and the date Developer submits a completed application for the building permit in question. In the event that the ENR CCI is no longer available following the Effective Date, the Parties shall meet and confer in good faith to agree on a comparable replacement index to be used to determine the appropriate fee adjustments pursuant to this Section.