Definition of Applicable Expenses Sample Clauses

Definition of Applicable Expenses. As used in this Agreement, Applicable Expenses include the actual, out-of-pocket costs and expenses paid or incurred by BURA in connection with maintaining those portions of the Garage that are directly affected by or affect the use of the Permanent Vehicle Parking Spaces, and do not include any costs related to the systems and facilities located in the Garage for ground floor commercial purposes and for the connected PRCA. Applicable Expenses shall include only the following: (i) costs of operating, maintaining, servicing and making repairs to the Garage and its systems and facilities; (ii) costs, up to $5,000 in any one year, of striping and otherwise labeling the Garage parking areas, and re-surfacing or seal coating the Garage parking areas, each as reasonably required from time to time due to wear and tear or to improve Garage safety or useability for the Residential Owners and Association; (iii) cost of security services for the Garage; (iv) property taxes for land and improvement value and property insurance for the structure of the Garage;