Construction and Development Fees Sample Clauses
The Construction and Development Fees clause defines the payments due to a developer or contractor for their services in planning, managing, and executing a construction project. Typically, this clause outlines the types of fees involved—such as fixed fees, percentage-based fees, or reimbursable costs—and specifies when and how these payments are to be made during the course of the project. Its core function is to ensure transparency and predictability in compensation, thereby reducing disputes over payment and clarifying financial obligations for all parties involved.
Construction and Development Fees. A construction oversight and development management fee of 5.0% of the total development costs, excluding property; however, the Company does not intend to charge such development management fee unless it is net of the fee being charged by the developer of the project. The Manager may, in its sole discretion, waive the development management fee, in whole or in part. The Manager will forfeit any portion of the development management fee that is waived.