Developer Deposit. The City will provide Developer with an itemized monthly invoice for Processing Costs, including staff time and invoices from contracted consultants, if any, commencing on the fifth day of the month following the first month during which the City incurs Processing Costs. Developer shall pay the City’s invoice on or before the 20th day (or fifteen days after mailing of the invoice by the City, whichever is later), subject to the provisions of the Memorandum of Understanding paragraph 2.6, together with any additional amounts required to maintain the required credit balance as required by Memorandum of Understanding paragraph 2.
Developer Deposit. The City will provide Developer with an itemized monthly invoice for Processing Costs, including staff time and invoices from contracted consultants, if any, commencing on the fifth day of the month following the first month during which the City incurs Processing Costs. Developer shall pay the City’s invoice on or before the 20th day (or fifteen days
Developer Deposit. As of the Effective Date, Developer has deposited with the WTCPUA the sum of $5,000.00 (“Developer Deposit”), which shall be used to pay the WTCPUA's charges and fees as provided in Sections 5.14 through 5.17 of the WTCPUA Rules and Policies with respect to the extension of service to the Proposed Development. To the extent such charges and fees incurred for the Proposed Development exceed or are projected to exceed the amount of the Developer Deposit as specified above, the WTCPUA shall invoice Developer for such additional amounts and payment by Developer shall be due upon its receipt of such invoice. Delay by Developer in paying an invoice when due shall delay WTCPUA review and acceptance of any facility relating to the Proposed Development, including the Developer Facilities and the commencement of service to the Proposed Development. Any funds remaining in the Developer Deposit not used by the WTCPUA shall be reimbursed to Developer upon the commencement of service in accordance with Article IV.
Developer Deposit. The Developer shall deposit with the City upon execution of this Agreement the amount of the City’s initial estimate of certain fees, costs and charges associated with this Agreement. Should the actual amount of these fees, costs or charges exceed the amount deposited, the City may, at the end on the month in which the fees, costs and charges exceed the deposit, provide an updated written estimate to the Developer. Within fifteen (15) days of receiving the new estimate, the Developer shall deposit with the City an amount equal to the difference between the City’s new estimate and the amount previously deposited by the Developer. Deposits not made within fifteen (15) days shall bear interest at 12% per month or portion thereof until paid. No Extension shall be connected to the City’s systems until all fees, charges, and other costs due under this Agreement are paid in full by the Developer. The City’s initial estimate for the fees, costs and charges is set forth below. The Developer shall deposit the total amount indicated upon execution of this Agreement: 1. Administrative Deposit $ 500.00 (Estimate) 2. Remaining Engineering Services $ 25,000.00 (Estimate) 3. Construction Inspection $ 110,000.00 (Estimate) 4. Legal Services Deposit $ 2,000.00 (Estimate) 5. Final Plat Processing $ 15,000.00 (Estimate) 6. Construction Cash Deposit $ 0.00 7. Other Costs $ 0.00 TOTAL DEPOSIT $ 152,500.00
Developer Deposit. 1. Prior to the execution of this ENA by the Agency, the Developer shall submit a good faith deposit to the Agency in the amount of $25,000.00 (Developer Deposit). The Developer Deposit may be made in the form of a cashier’s check, certified check, or any other form that is acceptable to the Agency’s Executive Director, naming the Agency as Payee thereon, as applicable, to ensure that Developer proceeds diligently and in good faith to negotiate and perform all of the Developer’s obligations under this ENA. The Developer Deposit shall be used exclusively by the Agency to pay certain administrative costs and expenses incurred by the Agency relative to the negotiation and preparation of a DDA with the Developer, including, but not limited to, financial analysis, special legal counsel, Redevelopment Department or successor entity and City Attorney costs, and other special consultant services required by the Agency to further negotiations with Developer pursuant to this ENA (Agency Costs). Any interest accrued on the Developer Deposit shall be the property of the Agency and shall be retained by the Agency.
2. If the Developer has negotiated diligently and in good faith, including, but not limited to, attending all necessary project meetings, responding to information requests by the Agency, and willingly providing all appropriate concepts, drawings, plans and/or architectural information requested by the Agency in furtherance of negotiations and project development, then any unused portion of the Developer Deposit shall be returned to Developer upon termination or expiration of this Agreement, or may be applied towards any good faith deposit required by the DDA. If Developer has not negotiated diligently and in good faith, the deposit shall be retained by the Agency. Failure to agree on the terms and conditions of a DDA shall not in itself be considered a lack of good faith.
3. In the event legislation is adopted which precludes the Agency from entering into a DDA, any unused portion of the Developer Deposit as of the date such legislation is adopted shall be returned to the Developer, provided that Developer has negotiated diligently and in good faith as required above.
Developer Deposit. At the time the Developer executes this Agreement, Developer shall provide the District with a monetary deposit ("Deposit") in the amount as required by the District to pay for the cost of the Work, including all applicable charges as set forth in the District's Code and Resolutions, including any amendments thereto. The Deposit shall be determined based on the estimated cost of the Work as determined by the District as provided in Exhibit C attached hereto and incorporated in full herein by this reference.
2.1 The District shall use the Deposit to pay for the cost of the Work and all expenses incurred by the District in performing its obligations under this Agreement, including, but not limited to, all construction, bacterial testing and sampling, permitting, and surface restoration.
2.2 Following the completion of the Work, the District shall determine the total cost of the Work and shall invoice the Developer for such total costs and expenses. The District shall then have the right to utilize and charge the cost of the Work against the Deposit. In the event the cost of the Work is less than the Deposit, the District shall pay and reimburse to the Developer the difference in the total cost of the Work and the Deposit within thirty (30) days of such determination; provided, if the cost of the Work exceeds the Deposit, the District shall invoice the Developer for the cost of the Work in excess of the Deposit. The Developer shall pay the District the invoiced amount within thirty (30) days of the date of the invoice
2.3 The charges incurred by Developer under this Agreement shall be construed as “charges for services” pursuant to RCW 57.08.081 and shall be charges against the Property. If the Developer fails to pay the invoiced amount to the District within thirty (30) days of such invoice, the invoice amount shall be considered delinquent and shall constitute a lien against the Property. The District shall then have the right to record this Agreement against the Property and foreclose the lien in the manner authorized by law.
Developer Deposit. Developer shall deposit with the City upon execution of this Agreement the amount of the City’s initial estimate of certain fees, costs and charges associated with this Agreement. Should the actual amount of these fees, costs or charges exceed the amount deposited, the City shall, at the end on the month in which the fees, costs and charges exceed the deposit, provide an updated written estimate to the Developer. Within fifteen
Developer Deposit. Developer shall deposit with the City upon execution of this Agreement the amount of the City’s initial estimate of certain fees, costs and charges associated with this Agreement. Should the actual amount of these fees, costs or charges exceed the amount deposited, the City shall, at the end on the month in which the fees, costs and charges exceed the deposit, provide an updated written estimate to the Developer. Within fifteen (15) days of receiving the new estimate, Developer shall deposit with the City an amount equal to the difference between the City’s new estimate and the amount previously deposited by Developer. Deposits not made within fifteen (15) days shall bear interest at 12% per month or portion thereof until paid. No Extension shall be connected to the City’s systems until all fees, charges, and other costs due under this Agreement are paid in full by the Developer. The City’s initial estimate for the fees, costs and charges is set forth below. Developer shall deposit the total amount indicated upon execution of this Agreement:
1. Administrative $ 500.00 (Estimate) 2. Remaining Engineering Services $ 10,000.00 (Estimate) 3. Construction Inspection $ 44,400.00 (Estimate) 4. Legal Services $ 2,000.00 (Estimate)
Developer Deposit. Developer shall pay to the Authority $10,000, which represents the agreed upon Developer Deposit to be paid to underlying owner. Within 15 days of the Effective Date.
Developer Deposit. District agrees to include in the RFQ a requirement that the developer concurrently with the execution of the ENRA by Developer submit to Agency a good faith non- refundable deposit (“Deposit”) in the amount of Twenty-Five Thousand Dollars ($25,000). The Deposit shall be in the form of cash and shall be paid by Developer to Agency on or before the effective date of said agreement. Agency shall put the Deposit in an interest bearing account and such interest, when received by Agency, shall become part of the Deposit. If performance of the ENRA results in execution of a definitive agreement, as described in the ENRA. Developer shall provide Agency an additional Seventy- Five Thousand Dollars ($75,000) to increase the total Deposit to One-Hundred Thousand Dollars ($100,000). All funds constituting the Deposit shall be retained by Agency.
