Developer Fees. As full compensation for its undertaking and performance of the Developer Services, the Developer and/or its Affiliates shall be entitled to earn and receive developer fees with respect to each Phase of the Revitalization Plan. These developer fees shall be paid solely from syndication proceeds or other development financing sources. The City acknowledges such developer fee with respect to Rental Phase 1 is limited by the NCHFA to $1,000,000, and authorizes payment of such amount provided that the City bears no responsibility for such payment and the fee will not be paid from proceeds of the City Loans
Developer Fees pay any developer fees in respect of the RWB Properties, provided that the Facility B Borrowers may pay management fees in the normal course which have been approved by the Lender in its sole discretion;
Developer Fees. On or before issuance by the City of a building permit to Developer, Developer shall pay all development fees, administrative costs and provide a landscaping letter of credit in the amount of 150% of the value of the landscaping improvements. Upon completion of the landscaping improvements and approval by the City, the letter of credit shall be reduced to 50% of the initial value and retained for a one- year warranty period. Upon completion of the one-year warranty period the City will reinspect the landscaping improvements, at which time the letter of credit can be released upon final approval by the City.
Developer Fees. Notwithstanding the foregoing, upon the sale of any property purchased with the loan, the lender would receive a developer fee of 10% of sale price/amount of each property sold that was bought with the loan until the Credit Line has been repaid in full and all of Borrower’s other obligations to Lender hereunder have been fully paid and discharged.
Developer Fees. Subject to the Project Owner’s election to defer development fees, the following schedule shall apply to the payment of development fees as approved in the financial spreadsheet contained in Appendix D:
Developer Fees. Developer shall receive “Developer Fees” from the Home Funds in an amount not to [insert dollar amount]. Payment of Developer Fees shall be disbursed as follows:
Developer Fees. As full compensation for its undertaking and performance of Developer Services, the Developer (or a Developer Affiliate designated by it) shall be entitled to earn and receive developer fees from each Rental Owner Entity (the “Developer Fees”). The Developer and the Authority intend that the Developer Fee shall equal the maximum amount available, subject to approval by HUD. Developer shall not be obligated to move forward with a Rental Phase that, at Closing, reflects a paid Developer Fee (exclusive of such amounts as may be deferred and payable through cash flow) of less than ten percent (10%) of project costs (as defined in the HUD Cost Guidelines: total development costs of the Phase excluding all reserves and the Developer Fee itself). Developer agrees that to the extent it (or its Affiliate) receives paid Developer Fee in excess of 10% of project costs it will pay all such amount to the Authority pursuant to a subcontract with the Developer (or Developer Affiliate) in consideration for the Authority’s assistance with the Development Services. The Authority will use such amounts, up to an aggregate amount of two percent (2%) of project costs per Phase, to help implement the Human Capital Plan. The parties further agree, however, that to the extent the Phase Development Budget would sustain a Developer Fee of greater than 10% but would be precluded by a cap on Developer Fee imposed by TDHCA or another relevant funding body then a corresponding amount will instead be provided in the Development Budget for the Authority’s use in helping to implement the Human Capital Plan – or if greater than 12% for other eligible purposes identified by the Authority -- to be funded on a schedule equivalent with the schedule described above relative to payment of Developer Fee. Developer Fees shall be deemed earned and shall be paid on a per-Phase basis in accordance with the terms and conditions of appropriate agreements with the Rental Owner Entity. The Developer and the Authority agree that Developer Fees for each Rental Phase shall be deemed fully earned at substantial completion but, subject to agreement by the Investor, shall be payable not less than 50% at construction loan closing, 25% at substantial completion, and 25% at achievement of stabilized occupancy in accordance with HUD Cost Guidelines. For purposes of this provision, "stabilized occupancy" and "substantial completion" shall be determined based on criteria reasonably established by the Investor; howeve...
Developer Fees. At the time of execution of this Agreement, the Developer shall pay the following fees related to the development of the Subdivision (See Attachment C for breakdown of costs):
Developer Fees. In the event that the Developer determines not to exercise its Purchase Option or right of first refusal with respect to any Phase of the Project, but instead is primarily responsible (as reasonably determined by the City) for obtaining a User for that Phase of the Project, the City shall pay Developer a commercially reasonable brokerage fee as mutually determined by the City and the Developer, and shall reimburse the Developer for any direct, out- of-pocket expenses incurred by Developer with respect to such User. The Developer acknowledges that no brokerage fee is due and/or payable with respect to any purchase or lease of a portion of the Project Site by any potential Tenant or User who has contacted the City directly regarding the Project Site on or before January 1, 2009.
Developer Fees. The Developer shall be responsible for paying all applicable fees charged by the City or any entity other than the City upon the Project.
