Common use of Development Fee for the Development Work Clause in Contracts

Development Fee for the Development Work. (a) For and in consideration of the services rendered by Developer with respect to the Development Work, Owner shall, subject to and in accordance with the terms and provisions of this Agreement and the Construction Loan, pay to Developer during each month of the Term, the Development Costs for the applicable month together with the applicable monthly installment of the Development Fee. The Development Fee shall be three percent (3%) of the total Development Budget (less the Development Fee, land acquisition costs and any financing fee or acquisition fee paid to Developer or its Affiliate).

Development Fee for the Development Work. (a) For and in consideration of the services rendered by Developer with respect to the Development Work, Owner shall, subject to and in accordance with the terms and provisions of this Agreement and the Construction Loan, pay to Developer during each month of the Term, the Development Costs for the applicable month together with the applicable monthly installment of the Development Fee. The Development Fee shall be three percent (3%) of the total Development Budget (less the Development Fee, land acquisition costs and any financing fee or acquisition fee paid to Developer or its Affiliate)$1,481,650.

Development Fee for the Development Work. (a) For and in consideration of the services rendered by Developer with respect to the Development Work, Owner shall, subject to and in accordance with the terms and provisions of this Agreement and the Construction Loan, pay to Developer during each month of the Term, the Development Costs for the applicable month together with the applicable monthly installment of the Development Fee. The Development Fee shall be [three percent (3%) of the total Development Budget (less the Development Fee, land acquisition costs and any financing fee or acquisition fee paid to Developer or its Affiliate)].

Development Fee for the Development Work. (a) For and in consideration of the services rendered by Developer with respect to the Development Work, Owner shall, subject to and in accordance with the terms and provisions of this Agreement and the Construction Loan, pay to Developer during each month of the Term, the Development Costs for the applicable month together with the applicable monthly installment of the Development Fee. The Development Fee shall be three percent (3%) of the total Development Budget (less the Development Fee, land acquisition costs and any financing fee or acquisition fee paid to Developer or its Affiliate).