Common use of Construction Obligations Clause in Contracts

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion of Construction of the Apartment Housing on or before June 1, 2002 ("Completion Date") at a total development cost of not more than $1,006,035 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before June November 1, 2002 2004 ("Completion Date") ), at a total development cost of not more than $1,006,035 2,534,158 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before June November 1, 2002 2004 ("Completion Date") ), at a total development cost of not more than $1,006,035 1,798,167 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before June November 1, 2002 2004 ("Completion Date") ), at a total development cost of not more than $1,006,035 1,832,483 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before June January 1, 2002 2007 ("Completion Date") ), at a total development cost of not more than $1,006,035 1,477,034 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee Fee, then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion of Construction of the Apartment Housing on or before June 1October 31, 2002 2000 ("Completion Date") at a total development cost of not more than $1,006,035 1,228,050 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion of Construction of the Apartment Housing on or before June May 1, 2002 2003 ("Completion Date") at a total development cost of not more than $1,006,035 4,912,000 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans Project Documents. At any time during construction and Specifications. If prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that the Development Budget exceeds the sum of the Capital Contributions, Contributions and the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereofthereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreement. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If Upon such notice from the Special Limited Partner, in good faith, ascertains that the cost of completing General Partner shall advance the Improvements in substantial accordance with requested funds into the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;Construction Lender's construction account.

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before June December 1, 2002 2006 ("Completion Date") ), at a total development cost of not more than $1,006,035 2,199,678 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee Fee, then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion of Construction of the Apartment Housing on or before June October 1, 2002 2000 ("Completion Date") at a total development cost of not more than $1,006,035 1,021,610 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before June November 1, 2002 2004 ("Completion Date") ), at a total development cost of not more than $1,006,035 2,475,747 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before June August 1, 2002 2005 ("Completion Date") ), at a total development cost of not more than $1,006,035 2,398,257 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before June November 1, 2002 2004 ("Completion Date") ), at a total development cost of not more than $1,006,035 2,554,585 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Plans and Specifications. If the Development Budget exceeds the sum of the Capital Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. If the Special Limited Partner, in good faith, ascertains that the cost of completing the Improvements in substantial accordance with the Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;