Compensation of Development Manager Sample Clauses

Compensation of Development Manager. 3.1 As compensation for Development Manager’s development management services rendered under this Agreement with respect to a New Development Property or Redevelopment Property (as such terms are defined in the Partnership Agreement), Development Manager shall be paid the following fees: [select applicable provision] (a) [for any Project where the Improvements will cost less than [*], Development Manager will receive a fee in the amount of [*] of the Hard Costs line item in the Final Project Budget for such Project; (b) for any Project where the Improvements will cost between [*] and [*] Development Manager will receive a fee in the amount of [*] of the Hard Costs line item in the Final Project Budget for such Project; and (c) for any Project where the Improvements will cost more than [*], Development Manager will receive a fee in the amount of [*] of the Hard Costs line item in the Final Project Budget for such Project.] 3.2 The fee payable to Development Manager in connection with the Project shall be payable in equal monthly installments over the period for the Project development as set forth in the Construction Schedule for the Project. Development Manager shall not be reimbursed for any employee costs, overhead costs or office equipment, stationery, postage, telephone, bank charges, travel and all other administration expenses. * The confidential information contained herein has been omitted and separately filed with the staff.

Compensation of Development Manager. 11 5.1. Management Fee . . . . . . . . . . . . . . . . . . . . . . . . . 11 5.2. Pre-Development Fee. . . . . . . . . . . . . . . . . . . . . . . 11 5.3. Construction Management Fee. . . . . . . . . . . . . . . . . . . 11

Compensation of Development Manager. Section 2.1

Compensation of Development Manager. 3.1 Compensation for Basic Services ------------------------------- (a) As compensation for its services under this Agreement, Agency shall pay to Development Manager a fee of $716,978.46, less certain amounts paid under the ERN through October 31, 1995, payable in equal monthly installments of $14,428.10 until paid in full. (b) If completion of the Project, as evidenced by the issuance of a certificate of completion by the Architect, occurs on or before four hundred and thirty (430) days following Agency Board award of the first publicly bided Trade Contracts for this Agreement, as such date may be extended by delays not under Development Manager's control, then Development Manager shall be paid an early completion bonus of $3,333 per day, but not to exceed $100,000, for each day that such completion so precedes the end of such construction period, as such date may be so extended. At Development Manager's request Agency shall pay for acceleration of Project construction to the extent Agency reasonably determines that amounts so expended for acceleration are likely to result in commensurate savings in the costs of the Project to Agency or a commensurate increase in the revenues to Agency generated by the Project.