Buyer to Manage Infrastructure Budget Sample Clauses

Buyer to Manage Infrastructure Budget. Buyer agrees to manage the infrastructure development of the Wholelife PUD on behalf of the CDD and/or Seller. As consideration for said services, Seller agrees to pay Buyer a management fee equal to 5% of the total development cost of Seller’s Retained Land as determined in the CDD Budget Projections (the “Xxxxxx Management Fee”). The Xxxxxx Management Fee shall thereafter not increase or decrease, even if the actual total development cost of the infrastructure construction on Seller’s Retained Land is greater or less than set forth in the CDD Budget Projections. The Xxxxxx Management Fee shall be paid by Seller to Buyer, in one or multiple installments, within forty-five (45) days of receipt of an invoice or invoices for such costs from Buyer, but all times only in accordance with the reasonable requirements of the CDD and the CDD budget.
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