Common use of Construction Work and Materials Clause in Contracts

Construction Work and Materials. Loan disbursements for construction work, materials and other "hard costs" shall initially be made on the basis of ninety percent (90%) of the value of the work and material then in place on the Improvements and materials acquired and stored on site in a manner reasonably satisfactory to the City, minus the amount of all previous Loan disbursements (including those for "hard" and "soft" costs).

Construction Work and Materials. Loan disbursements for construction work, materials and other "hard costs" shall initially be made on the basis of ninety five percent (9095%) of the value of the work and material then in place on the Improvements and materials acquired and stored on site in a manner reasonably satisfactory to the City, minus the amount of all previous Loan disbursements (including those for "hard" and "soft" costs).

Construction Work and Materials. Loan disbursements for construction work, materials and other "hard costs" shall initially be made on the basis of ninety five percent (9095%) of the value of the work and material then in place on the Improvements and materials acquired and stored on site in a manner reasonably satisfactory to the City, minus the amount of all previous Loan disbursements (including those for "hard" and "soft" costs). Borrower’s request for Loan disbursements shall clearly set forth 100% of hard costs incurred, and the 95% of such costs requested to be funded by the City.

Construction Work and Materials. Loan disbursements for construction work, materials materials, and other "“hard costs" ” shall initially be made on the basis of ninety percent (90%) of the value of the work and material then in place on the Improvements and materials acquired and stored on site in a manner reasonably satisfactory to the City, minus the amount of all previous Loan disbursements (including those for "“hard" ” and "“soft" ” costs).