Common use of BUDGET AND METHOD OF PAYMENT Clause in Contracts

BUDGET AND METHOD OF PAYMENT. “VIP” will carry out and oversee the implementation of the project as set forth in this Agreement and agrees to perform the required services under the general coordination of HCD. In addition, and upon approval by Augusta, “VIP” may engage the services of outside professional services consultants and contractors to help carry out the program and projects. A. Augusta shall designate and make funds available in the following manner: 1. Augusta agrees to pay “VIP”, a maximum of $205,167.56 under this Agreement for project expenses incurred as outlined in ARTICLE I, Scope of Services, subject to “VIP” ’s compliance with all terms and conditions of this Agreement and the procedures for documenting expenses and activities as set forth in said Agreement. 2. The method of payment for construction costs, including only materials and labor as outlined and approved on the Work Write-Up, not to exceed the aforementioned contracted amount of $205,167.56 and shall be on a pay for performance basis provided “VIP” and HCD determine the progress is satisfactory. “VIP” shall utilize the AIA Form provided by HCD (see Appendix). For invoicing, “VIP” will include documentation showing proof of completion of work in accordance with the amount requested, inspected, and accepted by HCD, lien waivers for vendors and sub-contractors, as specified in the Work Write-Up found in Exhibit B & E. 3. When nearing 50%, the Developer, “VIP”, should be prepared to pay their 50%: $102,583.78 as agreed to HCD for material and labor only. 4. HCD will monitor the progress of the project and “VIP” ’s performance on a weekly basis with regards to the production of housing units and the overall effectiveness of project. 5. Upon the completion of this Agreement, any unused or residual funds remaining shall revert to Augusta and shall be due and payable on such date of the termination and shall be paid no later than thirty (30) days thereafter. “VIP” and HCD shall share in the cost and proceeds of developing the residence at 0000 Xxxxxx Xxxxxx as follows: 6. Funds may not be transferred from line item to line item in the project budget without the prior written approval of Augusta Housing and Community Development. 7. This Agreement is based upon the availability of funding under the Xxxxx Xxxxxx/Bethlehem Revitalization Project. Should funds no longer be available, it is agreed to by both parties that this contract shall terminate and any “VIP” deemed satisfactorily progress made within the contracted construction only amount not to exceed fifty percent (50%) shall be paid to “VIP” . 8. HCD will retain ten percent (10%) of an amount within the one hundred percent (100%) of construction costs, including only materials and labor as outlined and approved on the Work Write-Up, after the Certificate of Occupancy has been issued until “VIP” and HCD determine that all HCD punch-list items have been satisfied.

BUDGET AND METHOD OF PAYMENT. “VIP” VIA will carry out and oversee the implementation of the project as set forth in this Agreement and agrees to perform the required services under the general coordination of HCD. In addition, and upon approval by Augusta, “VIP” VIA may engage the services of outside professional services consultants and contractors to help carry out the program and projects. A. Augusta shall designate and make funds available in the following manner: 1. Augusta agrees to pay “VIP”VIA, a maximum of $205,167.56 152,455.36 under this Agreement for project expenses incurred as outlined in ARTICLE I, Scope of Services, subject to “VIP” VIA’s compliance with all terms and conditions of this Agreement and the procedures for documenting expenses and activities as set forth in said Agreement.; 2. The method of payment for construction costs, including only materials and labor as outlined and approved on the Work Write-Up, not to exceed the aforementioned contracted amount of $205,167.56 and shall be on a pay for performance basis provided “VIP” and HCD determine the progress is satisfactory. “VIP” shall utilize the AIA Form provided by HCD (see Appendix). For invoicing, “VIP” will include documentation showing proof of completion of work in accordance with the amount requested, inspected, and accepted by HCD, lien waivers for vendors and sub-contractors, as specified in the Work Write-Up found in Exhibit B & E.of 3. When nearing 50%, the Developer, “VIP”VIA, should be prepared to pay their 50%: $102,583.78 76,227.28 as agreed to HCD for material and labor only. 4. HCD will monitor the progress of the project and “VIP” VIA’s performance on a weekly basis with regards to the production of housing units and the overall effectiveness of project. 5. Upon the completion of this Agreement, any unused or residual funds remaining shall revert to Augusta and shall be due and payable on such date of the termination and shall be paid no later than thirty (30) days thereafter. “VIP” VIA and HCD shall share in the cost and proceeds of developing the residence at 0000 Xxxxxx Xxxxx Xxxxxx as follows: 6. Funds may not be transferred from line item to line item in the project budget without the prior written approval of Augusta Housing and Community Development. 7. This Agreement is based upon the availability of funding under the Xxxxx Xxxxxx/Bethlehem Revitalization Project. Should funds no longer be available, it is agreed to by both parties that this contract shall terminate and any “VIP” VIA deemed satisfactorily progress made within the contracted construction only amount not to exceed fifty percent (50%) shall be paid to “VIP” VIA. 8. HCD will retain ten percent (10%) of an amount within the one hundred percent (100%) of construction costs, including only materials and labor as outlined and approved on the Work Write-Up, after the Certificate of Occupancy has been issued until “VIP” VIA and HCD determine that all HCD punch-list items have been satisfied.

BUDGET AND METHOD OF PAYMENT. “VIP” XXX will carry out and oversee the implementation of the project as set forth in this Agreement and agrees to perform the required services under the general coordination of HCD. In addition, and upon approval by Augusta, “VIP” AMI may engage the services of outside professional services consultants and contractors to help carry out the program and projects. A. Augusta shall designate and make funds available in the following manner: 1. Augusta agrees to pay “VIP”, AMI a maximum of $205,167.56 188,899.00 under this Agreement for project expenses incurred as outlined in ARTICLE I, Scope of Services, subject to “VIP” AMI’s compliance with all terms and conditions of this Agreement and the procedures for documenting expenses and activities as set forth in said Agreement. 2. The method of payment for construction costs, including only materials and labor as outlined and approved on the Work Write-Up, not to exceed the aforementioned contracted amount of $205,167.56 and shall be on a pay for performance basis provided “VIP” and HCD determine the progress is satisfactory. “VIP” shall utilize the AIA Form provided by HCD (see Appendix). For invoicing, “VIP” will include documentation showing proof of completion of work in accordance with the amount requested, inspected, and accepted by HCD, lien waivers for vendors and sub-contractors, as specified in the Work Write-Up found in Exhibit B & E.of 3. When nearing 50%, the Developerco-developer, “VIP”AMI, should be prepared to pay their 50%: $102,583.78 94,449.50 as agreed to HCD for material and labor only. 4. HCD will monitor the progress of the project and “VIP” ’s AMI, performance on a weekly basis with regards to the production of housing units and the overall effectiveness of project. 5. Upon the completion of this Agreement, any unused or residual funds remaining shall revert to Augusta and shall be due and payable on such date of the termination and shall be paid no later than thirty (30) days thereafter. “VIP” AMI and HCD shall share in the cost and proceeds of developing the residence at 0000 Xxxxxx Xxxxxx as follows: 6. Funds may not be transferred from line item to line item in the project budget without the prior written approval of Augusta Housing and Community Development. 7. This Agreement is based upon the availability of funding under the Xxxxx Xxxxxx/Bethlehem Revitalization Project. Should funds no longer be available, it is agreed to by both parties that this contract shall terminate and any “VIP” AMI deemed satisfactorily progress made within the contracted construction only amount not to exceed fifty percent (50%) shall be paid to “VIP” .AMI 8. HCD will retain ten percent (10%) of an amount within the one hundred percent (100%) of construction costs, including only materials and labor as outlined and approved on the Work Write-Up, after the Certificate of Occupancy has been issued until “VIP” AMI and HCD determine that all HCD punch-list items have been satisfied.

BUDGET AND METHOD OF PAYMENT. “VIP” HONNÊTE HABITATS, LLC. will carry out and oversee the implementation of the project as set forth in this Agreement and agrees to perform the required services under the general coordination of HCD. In addition, and upon approval by Augusta, “VIP” HONNÊTE HABITATS, LLC. may engage the services of outside professional services consultants and contractors to help carry out the program and projects. A. Augusta shall designate and make funds available in the following manner: 1. Augusta agrees to pay “VIP”HONNÊTE HABITATS, LLC., a maximum of $205,167.56 200,288.09 under this Agreement for project expenses incurred as outlined in ARTICLE I, Scope of Services, subject to “VIP” HONNÊTE HABITATS, LLC.’s compliance with all terms and conditions of this Agreement and the procedures for documenting expenses and activities as set forth in said Agreement.; 2. The method of payment for construction costs, including only materials and labor as outlined and approved on the Work Write-Up, not to exceed the aforementioned contracted amount of $205,167.56 and shall be on a pay for performance basis provided “VIP” and HCD determine the progress is satisfactoryHABITATS, LLC. “VIP” shall utilize the AIA Form provided by HCD (see Appendix). For invoicing, “VIP” will include documentation showing proof of completion of work in accordance with the amount requested, inspected, and accepted by HCD, lien waivers for vendors and sub-contractors, as specified in the Work Write-Up found in Exhibit B & E. 3. When nearing 50%, the Developer, “VIP”, should be prepared to pay their 50%: $102,583.78 as agreed to HCD for material and labor only. 4. HCD will monitor the progress of the project and “VIP” HONNÊTE HABITATS, LLC.’s performance on a weekly basis with regards to the production of housing units and the overall effectiveness of project. 54. Upon the completion of this Agreement, any unused or residual funds remaining shall revert to Augusta and shall be due and payable on such date of the termination and shall be paid no later than thirty (30) days thereafter. “VIP” HONNÊTE HABITATS, LLC. and HCD shall share in the cost and proceeds of developing the residence at 0000 Xxxxxx Xxxxxx 1413 Maple Street as follows: 65. Funds may not be transferred from line item to line item in the project budget without the prior written approval of Augusta Housing and Community Development. 76. This Agreement is based upon the availability of funding under the Xxxxx Xxxxxx/Bethlehem Revitalization Project. Should funds no longer be available, it is agreed to by both parties that this contract shall terminate and any “VIP” HONNÊTE HABITATS, LLC. deemed satisfactorily progress made within the contracted construction only amount not to exceed fifty percent (50100%) shall be paid to “VIP” HONNÊTE HABITATS, LLC. 87. HCD will retain ten percent (10%) of an amount within the one hundred percent (100%) of construction costs, including only materials and labor as outlined and approved on the Work Write-Up, after the Certificate of Occupancy has been issued until “VIP” HONNÊTE HABITATS, LLC. and HCD determine that all HCD punch-list items have been satisfied.

BUDGET AND METHOD OF PAYMENT. “VIP” HONNÊTE HABITATS, LLC. will carry out and oversee the implementation of the project as set forth in this Agreement and agrees to perform the required services under the general coordination of HCD. In addition, and upon approval by Augusta, “VIP” HONNÊTE HABITATS, LLC. may engage the services of outside professional services consultants and contractors to help carry out the program and projects. A. Augusta shall designate and make funds available in the following manner: 1. Augusta agrees to pay “VIP”HONNÊTE HABITATS, LLC., a maximum of $205,167.56 200,288.09 under this Agreement for project expenses incurred as outlined in ARTICLE I, Scope of Services, subject to “VIP” HONNÊTE HABITATS, LLC.’s compliance with all terms and conditions of this Agreement and the procedures for documenting expenses and activities as set forth in said Agreement.; 2. The method of payment for construction costs, including only materials and labor as outlined and approved on the Work Write-Up, not to exceed the aforementioned contracted amount of $205,167.56 and shall be on a pay for performance basis provided “VIP” and HCD determine the progress is satisfactoryHABITATS, LLC. “VIP” shall utilize the AIA Form provided by HCD (see Appendix). For invoicing, “VIP” will include documentation showing proof of completion of work in accordance with the amount requested, inspected, and accepted by HCD, lien waivers for vendors and sub-contractors, as specified in the Work Write-Up found in Exhibit B & E. 3. When nearing 50%, the Developer, “VIP”, should be prepared to pay their 50%: $102,583.78 as agreed to HCD for material and labor only. 4. HCD will monitor the progress of the project and “VIP” HONNÊTE HABITATS, LLC.’s performance on a weekly basis with regards to the production of housing units and the overall effectiveness of project. 54. Upon the completion of this Agreement, any unused or residual funds remaining shall revert to Augusta and shall be due and payable on such date of the termination and shall be paid no later than thirty (30) days thereafter. “VIP” HONNÊTE HABITATS, LLC. and HCD shall share in the cost and proceeds of developing the residence at 0000 Xxxxxx Xxxxx Xxxxxx as follows: 65. Funds may not be transferred from line item to line item in the project budget without the prior written approval of Augusta Housing and Community Development. 76. This Agreement is based upon the availability of funding under the Xxxxx Xxxxxx/Bethlehem Revitalization Project. Should funds no longer be available, it is agreed to by both parties that this contract shall terminate and any “VIP” HONNÊTE HABITATS, LLC. deemed satisfactorily progress made within the contracted construction only amount not to exceed fifty percent (50100%) shall be paid to “VIP” HONNÊTE HABITATS, LLC. 87. HCD will retain ten percent (10%) of an amount within the one hundred percent (100%) of construction costs, including only materials and labor as outlined and approved on the Work Write-Up, after the Certificate of Occupancy has been issued until “VIP” HONNÊTE HABITATS, LLC. and HCD determine that all HCD punch-list items have been satisfied.

BUDGET AND METHOD OF PAYMENT. “VIP” CAPITALRISE, LLC will carry out and oversee the implementation of the project as set forth in this Agreement and agrees to perform the required services under the general coordination of HCD. In addition, and upon approval by Augusta, “VIP” CAPITALRISE, LLC may engage the services of outside professional services consultants and contractors to help carry out the program and projects. A. Augusta shall designate and make funds available in the following manner: 1. Augusta agrees to pay “VIP”CAPITALRISE, LLC, a maximum of $205,167.56 152,000.00 under this Agreement for project expenses incurred as outlined in ARTICLE I, Scope of Services, subject to “VIP” CAPITALRISE, LLC’s compliance with all terms and conditions of this Agreement and the procedures for documenting expenses and activities as set forth in said Agreement.; 2. The method of payment for construction costs, including only materials and labor as outlined and approved on the Work Write-Up, not to exceed the aforementioned contracted amount of $205,167.56 and shall be on a pay for performance basis provided “VIP” and HCD determine the progress is satisfactory. “VIP” shall utilize the AIA Form provided by HCD (see Appendix). For invoicing, “VIP” will include documentation showing proof of completion of work in accordance with the amount requested, inspected, and accepted by HCD, lien waivers for vendors and sub-contractors, as specified in the Work Write-Up found in Exhibit B & E.of 3. When nearing 50%, the Developer, “VIP”, should be prepared to pay their 50%: $102,583.78 as agreed to HCD for material and labor only. 4. HCD will monitor the progress of the project and “VIP” CAPITALRISE, LLC’s performance on a weekly basis with regards to the production of housing units and the overall effectiveness of project. 54. Upon the completion of this Agreement, any unused or residual funds remaining shall revert to Augusta and shall be due and payable on such date of the termination and shall be paid no later than thirty (30) days thereafter. “VIP” CAPITALRISE, LLC and HCD shall share in the cost and proceeds of developing the residence road at 0000 Xxxxxx Xxxxxx Ace Alley as follows: 65. Funds may not be transferred from line item to line item in the project budget without the prior written approval of Augusta Housing and Community Development. 76. This Agreement is based upon the availability of funding under the Xxxxx Xxxxxx/Bethlehem Revitalization Project. Should funds no longer be available, it is agreed to by both parties that this contract shall terminate and any “VIP” CAPITALRISE, LLC deemed satisfactorily progress made within the contracted construction only amount not to exceed fifty percent (50100%) shall be paid to “VIP” CAPITALRISE, LLC. 87. HCD will retain ten percent (10%) of an amount within the one hundred percent (100%) of construction costs, including only materials and labor as outlined and approved on the Work Write-Up, after the Certificate of Occupancy has been issued until “VIP” CAPITALRISE, LLC and HCD determine that all HCD punch-list items have been satisfied.

BUDGET AND METHOD OF PAYMENT. “VIP” CAPITALRISE, LLC will carry out and oversee the implementation of the project as set forth in this Agreement and agrees to perform the required services under the general coordination of HCD. In addition, and upon approval by Augusta, “VIP” CAPITALRISE, LLC may engage the services of outside professional services consultants and contractors to help carry out the program and projects. A. Augusta shall designate and make funds available in the following manner: 1. Augusta agrees to pay “VIP”CAPITALRISE, LLC, a maximum of $205,167.56 189,039.43 under this Agreement for project expenses incurred as outlined in ARTICLE I, Scope of Services, subject to “VIP” CAPITALRISE, LLC’s compliance with all terms and conditions of this Agreement and the procedures for documenting expenses and activities as set forth in said Agreement. 2. The method of payment for construction costs, including only materials and labor as outlined and approved on the Work Write-Up, not to exceed the aforementioned contracted amount of $205,167.56 and shall be on a pay for performance basis provided “VIP” and HCD determine the progress is satisfactory. “VIP” shall utilize the AIA Form provided by HCD (see Appendix). For invoicing, “VIP” CAPITALRISE, LLC will include documentation showing proof of completion of work in accordance with the amount requested, inspected, and accepted by HCD, lien waivers for vendors and sub-contractors, as specified in the Work Write-Up found in Exhibit B & E. 3. When nearing 50%, the Developerco-developer, “VIP”CD CAPITAL INVESTMENT GROUP, LLC, should be prepared to pay their 50%: $102,583.78 94,519.72 as agreed to HCD for material and labor only. 4. HCD will monitor the progress of the project and “VIP” CAPITALRISE, LLC’s performance on a weekly basis with regards to the production of housing units and the overall effectiveness of project. 5. Upon the completion of this Agreement, any unused or residual funds remaining shall revert to Augusta and shall be due and payable on such date of the termination and shall be paid no later than thirty (30) days thereafter. “VIP” CD CAPITAL INVESTMENT GROUP, LLC and HCD shall share in the cost and proceeds of developing the residence at 0000 Xxxxxx 00 Xxxxxxx Xxxxxx as follows: 6. Funds may not be transferred from line item to line item in the project budget without the prior written approval of Augusta Housing and Community Development. 7. This Agreement is based upon the availability of funding under the Xxxxx Xxxxxx/Bethlehem Revitalization Project. Should funds no longer be available, it is agreed to by both parties that this contract shall terminate and any “VIP” CAPITALRISE, LLC deemed satisfactorily progress made within the contracted construction only amount not to exceed fifty percent (50%) shall be paid to “VIP” .CAPITALRISE, LLC 8. HCD will retain ten percent (10%) of an amount within the one hundred percent (100%) of construction costs, including only materials and labor as outlined and approved on the Work Write-Up, after the Certificate of Occupancy has been issued until “VIP” CAPITALRISE, LLC and HCD determine that all HCD punch-list items have been satisfied.

BUDGET AND METHOD OF PAYMENT. “VIP” X. XXXXXX HOMES will carry out and oversee the implementation of the project as set forth in this Agreement and agrees to perform the required services under the general coordination of HCD. In addition, and upon approval by AugustaXxxxxxx, “VIP” X. LOVETT HOMES may engage the services of outside professional services consultants and contractors to help carry out the program and projects. A. Augusta shall designate and make funds available in the following manner: 1. Augusta agrees to pay “VIP”, X. XXXXXX HOMES a maximum of $205,167.56 269,934.53 under this Agreement for project expenses incurred as outlined in ARTICLE I, Scope of Services, subject to “VIP” ’s X. XXXXXX HOMES compliance with all terms and conditions of this Agreement and the procedures for documenting expenses and activities as set forth in said Agreement.; 2. The method of payment for construction costs, including only materials and labor as outlined and approved on the Work Write-Up, not to exceed the aforementioned contracted amount of $205,167.56 and shall be on a pay for performance basis provided “VIP” and HCD determine the progress is satisfactory. “VIP” shall utilize the AIA Form provided by HCD (see Appendix). For invoicing, “VIP” will include documentation showing proof of completion of work in accordance with the amount requested, inspected, and accepted by HCD, lien waivers for vendors and sub-contractors, as specified in the Work Write-Up found in Exhibit B & E. 3. When nearing 50%, the Developer, “VIP”, should be prepared to pay their 50%: $102,583.78 as agreed to HCD for material and labor only. 4. HCD will monitor the progress of the project and “VIP” ’s X. XXXXXX HOMES’ performance on a weekly basis with regards to the production of housing units and the overall effectiveness of project. 54. Upon the completion of this Agreement, any unused or residual funds remaining shall revert to Augusta and shall be due and payable on such date of the termination and shall be paid no later than thirty (30) days thereafter. “VIP” X. XXXXXX HOMES and HCD shall share in the cost and proceeds of developing the residence property at 0000 Xxxxxx Xxxxxx as follows: 65. Funds may not be transferred from line item to line item in the project budget without the prior written approval of Augusta Housing and Community Development. 76. This Agreement is based upon the availability of funding under the Xxxxx Xxxxxx/Bethlehem Revitalization Projectapproved CDBG. Should funds no longer be available, it is agreed to by both parties that this contract shall terminate and any “VIP” X. XXXXXX HOMES deemed satisfactorily progress made within the contracted construction only amount not to exceed fifty percent (50100%) shall be paid to “VIP” X. XXXXXX HOMES . 87. HCD will retain ten percent (10%) of an amount within the one hundred percent (100%) of construction costs, including only materials and labor as outlined and approved on the Work Write-Up, after the Certificate of Occupancy has been issued until “VIP” X. XXXXXX HOMES and HCD determine that all HCD punch-list items have been satisfied.