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
Appears in 5 contracts
Samples: Development Agreement, Development Agreement, Development Agreement
