Borough Costs Sample Clauses

Borough Costs. Borough Costs shall include, but not be limited to any fees and costs of any professional consultant, contractor or vendor retained by the Borough to complete due diligence with respect to the terms of the Redevelopment Agreement or other ancillary agreements between the Parties and for legal and other fees in completing oversight and assistance in the implementation of the Project and in preparing documentation necessary to memorialize the agreements of the Parties including attorneys, planners and financial consultants, among others, and all other out-of-pocket costs and expenses of the Borough incurred in its assistance in implementation, facilitation or defense of the Project, pursuant to the LRHL (N.J.S.A. 40A:12A-8). Upon request, the Borough shall provide the Redeveloper with invoices setting forth Borough Costs incurred. Within 30 days of the receipt by the Redeveloper of written notice from the Borough that the amount in the escrow account has decreased to $5,000, the Redeveloper shall replenish the escrow account with the Borough to the amount of $10,000. If the Borough Costs incurred exceed the amount in the escrow account, the Redeveloper will pay such costs upon 30 days written notice from Borough that such costs are due.
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Related to Borough Costs

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  • NOW, THEREFORE the parties hereto agree as follows:

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