Consideration for Connection Sample Clauses

Consideration for Connection. Subject to the terms and conditions hereof, Spring Canyon agrees to pay to Hailey as consideration for the right to connect into Hailey’s municipal sewer system the sum of Seven Hundred Fifty Thousand and no/100 Dollars ($750,000.00), adjusted pursuant to paragraph 6.2.1, below (“Development Connection Fee”), payable in cash and in accordance with the schedule described herein. Before connection to Hailey’s municipal sewer system, Spring Canyon will pay Hailey Two Hundred Fifty Thousand and no/100 Dollars ($250,000.00), plus any adjustment on the entire Development Connection Fee calculated in accordance with paragraph 6.2.1, below, in cash for partial payment of the Development Connection Fee. The remainder of the Development Connection Fee in the amount of Five Hundred Thousand Dollars ($500,000.00), as adjusted in accordance with paragraph 6.2.1, below, shall be paid to Hailey in a pro rata amount for each lot at the time of connection.
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