Common use of Estimate of Construction Work Cost Clause in Contracts

Estimate of Construction Work Cost. Before commencing any Construction Work in connection with a Casualty Restoration, and as soon as reasonably practicable and in any event within one hundred eighty (180) days after the damage or destruction, Tenant shall furnish Landlord: (i) plans and specifications for such Casualty Restoration and (ii) an estimate, prepared by the Architect, of the cost and duration of such Construction Work. Such estimate shall include, without limitation, Architect’s and engineer’s fees (and other construction-related soft costs), construction labor costs and the costs of materials, fixtures and equipment, and the schedule for incurring these costs. Landlord shall approve, disapprove or approve with modifications or conditions Tenant’s plans and specifications within thirty (30) days of receipt, which approval shall not be unreasonably withheld, conditioned or delayed; it being understood and agreed that Landlord shall have no approval rights (except as otherwise set forth herein) with respect to Casualty Restoration that are Non-Structural Alterations, Trade Fixtures, Paver Fundraising Work or Decorative Changes (and Tenant shall comply with Article 18 hereof with respect thereto). All plans and specifications with respect to the Premises shall be the property of Landlord in the event this Lease is terminated. The submission to Landlord of the cost estimate shall be for informational purposes only, subject to and in accordance with Section 16.03 hereof. During the course of any Casualty Restoration costing in excess of the Insurance Proceeds Threshold Amount, Tenant shall provide monthly summaries to Landlord of the progress of the Construction Work. Such summary shall include a breakdown of the applicable costs spent for the Construction Work for such month. Tenant further agrees that Landlord shall have the right, at all reasonable times and upon reasonable advance notice, to inspect the Premises and Improvements and the progress of the Construction Work during the course of any Casualty Restoration costing in excess of the Insurance Proceeds Threshold Amount. Tenant agrees that its failure to complete any Casualty Restoration (subject to the terms hereof, including, without limitation, the last sentence of Section 11.02(a) hereof) shall be a default under this Lease. Nothing herein shall relieve Tenant of its obligation to submit Payment Certificates as provided in Section 11.04(a) hereof.

Estimate of Construction Work Cost. Before commencing any Construction Work in connection with a Casualty Restoration, and as soon as reasonably practicable (and in any event event, within one hundred eighty ninety (18090) days after the damage or destruction, ) Tenant shall furnish Landlord: (i) plans and specifications for such Casualty Restoration and (ii) Landlord with an estimate, prepared by the ArchitectArchitect (after consultation by the Architect with Landlord, to the extent practicable), of the cost and duration of such Construction Work. Such estimate shall include, without limitation, Architect’s and engineer’s fees (and other construction-related soft costsSoft Costs), construction labor costs and the costs cost of materials, fixtures and equipment, and the schedule for incurring these costs. Landlord, at its election and at Landlord’s sole cost, may engage a licensed professional engineer or registered architect to prepare its own estimate of the cost of such Construction Work. If Landlord shall approve, fail to disapprove or approve with modifications or conditions Tenant’s plans and specifications estimate of such cost within thirty (30) days of receiptreceipt of such estimate, which approval shall not be unreasonably withheld, conditioned or delayed; it being understood and agreed that Landlord shall have no approval rights (except as otherwise set forth herein) with respect to Casualty Restoration that are Non-Structural Alterations, Trade Fixtures, Paver Fundraising Work or Decorative Changes (and Tenant shall comply with Article 18 hereof with respect thereto). All plans and specifications with respect to the Premises shall be the property of Landlord in the event this Lease is terminated. The submission to Landlord of the cost Xxxxxx’s estimate shall be for informational purposes onlydeemed approved. If Landlord shall dispute the estimated cost of such Construction Work, subject to the dispute shall be resolved by a licensed professional structural engineer or licensed professional contractor, chosen by agreement of Landlord and in accordance with Section 16.03 hereofTenant, which structural engineer or contractor shall resolve the dispute by choosing either Xxxxxxxx’s or Tenant’s estimate, which choice shall be binding on the parties. During the course of any Casualty Restoration costing in excess of the Insurance Proceeds Threshold AmountRestoration, Tenant shall provide monthly summaries to Landlord of the progress of the Construction Work. Such summary shall include a breakdown of the applicable costs spent for the Construction Work for such month. Tenant further agrees that Landlord shall have the right, at all reasonable times and upon reasonable advance noticetimes, to inspect the Premises and Improvements and the progress of the Construction Work. Xxxxxx agrees that if it fails to properly and fully complete such Construction Work, then after notice and an opportunity to cure as set forth herein, Landlord shall have the right to complete such Construction Work during at the course cost and expense of Tenant, to terminate this Lease or to avail itself of any Casualty Restoration costing in excess of the Insurance Proceeds Threshold Amount. Tenant agrees that its failure to complete any Casualty Restoration (subject to the terms hereof, including, without limitation, the last sentence of Section 11.02(a) hereof) shall be a default other remedy available under this Lease. Nothing herein shall relieve Tenant of its obligation to submit Payment Certificates as provided in Section 11.04(a) hereoflaw.

Estimate of Construction Work Cost. Before commencing any Construction Work in connection with a Casualty Restoration, and as soon as reasonably practicable (and in any event event, within one hundred eighty ninety (18090) days after the damage or destruction, ) Tenant shall furnish Landlord: (i) plans and specifications for such Casualty Restoration and (ii) Landlord with an estimate, prepared by the ArchitectArchitect (after consultation by the Architect with Landlord, to the extent practicable), of the cost and duration of such Construction Work. Such estimate shall include, without limitation, Architect’s and engineer’s fees (and other construction-related soft costsSoft Costs), construction labor costs and the costs cost of materials, fixtures and equipment, and the schedule for incurring these costs. Landlord, at its election and at Landlord’s sole cost, may engage a licensed professional engineer or registered architect to prepare its own estimate of the cost of such Construction Work. If Landlord shall approve, fail to disapprove or approve with modifications or conditions Tenant’s plans and specifications estimate of such cost within thirty (30) days of receiptreceipt of such estimate, which approval shall not be unreasonably withheld, conditioned or delayed; it being understood and agreed that Landlord shall have no approval rights (except as otherwise set forth herein) with respect to Casualty Restoration that are Non-Structural Alterations, Trade Fixtures, Paver Fundraising Work or Decorative Changes (and Tenant shall comply with Article 18 hereof with respect thereto). All plans and specifications with respect to the Premises shall be the property of Landlord in the event this Lease is terminated. The submission to Landlord of the cost Tenant’s estimate shall be for informational purposes onlydeemed approved. If Landlord shall dispute the estimated cost of such Construction Work, subject to the dispute shall be resolved by a licensed professional structural engineer or licensed professional contractor, chosen by agreement of Landlord and in accordance with Section 16.03 hereofTenant, which structural engineer or contractor shall resolve the dispute by choosing either Landlord’s or Tenant’s estimate, which choice shall be binding on the parties. During the course of any Casualty Restoration costing in excess of the Insurance Proceeds Threshold AmountRestoration, Tenant shall provide monthly summaries to Landlord of the progress of the Construction Work. Such summary shall include a breakdown of the applicable costs spent for the Construction Work for such month. Tenant further agrees that Landlord shall have the right, at all reasonable times and upon reasonable advance noticetimes, to inspect the Premises and Improvements and the progress of the Construction Work during the course of any Casualty Restoration costing in excess of the Insurance Proceeds Threshold AmountWork. Tenant agrees that its failure if it fails to properly and fully complete such Construction Work, then after notice and an opportunity to cure as set forth herein, Landlord shall have the right to complete such Construction Work at the cost and expense of Tenant, to terminate this Lease or to avail itself of any Casualty Restoration (subject to the terms hereof, including, without limitation, the last sentence of Section 11.02(a) hereof) shall be a default other remedy available under this Lease. Nothing herein shall relieve Tenant of its obligation to submit Payment Certificates as provided in Section 11.04(a) hereoflaw.

Estimate of Construction Work Cost. Before commencing any Construction Work in connection with a Casualty RestorationTenant Restoration (other than a Tenant Restoration which is reasonably estimated to cost less than Five Million Dollars ($5,000,000) (which amount shall be adjusted on the first day of each calendar year during the Term to take into account CPI for the immediately preceding calendar year)), and as soon as reasonably practicable (and in any event event, within one two hundred eighty and ten (180210) days after the damage or destruction, Tenant shall furnish Landlord: (i) plans and specifications for such Casualty Restoration and (ii) Landlord with an estimate, prepared by a Qualified Contractor (after consultation by the ArchitectQualified Contractor with the Landlord, to the extent practicable), of the cost and duration of such Construction Work. Such estimate shall include, without limitation, Architect’s 's and engineer’s 's fees (and other construction-related soft costs), construction labor costs and the costs cost of materials, fixtures and equipment, and the schedule for incurring these costs. Landlord, at its election and at Landlord's sole cost, may engage a licensed professional engineer or registered architect to prepare its own estimate of the cost of such Construction Work. If Landlord shall approve, fail to disapprove or approve with modifications or conditions Tenant’s plans and specifications 's estimate of such cost within thirty (30) days of receiptreceipt of such estimate, which approval shall not be unreasonably withheld, conditioned or delayed; it being understood and agreed that Landlord shall have no approval rights (except as otherwise set forth herein) with respect to Casualty Restoration that are Non-Structural Alterations, Trade Fixtures, Paver Fundraising Work or Decorative Changes (and Tenant shall comply with Article 18 hereof with respect thereto). All plans and specifications with respect to the Premises shall be the property of Landlord in the event this Lease is terminated. The submission to Landlord of the cost Xxxxxx's estimate shall be for informational purposes onlydeemed approved. If Landlord shall dispute the estimated cost of such Construction Work, subject to the dispute shall be resolved by a licensed professional structural engineer or licensed professional contractor, chosen by agreement of Landlord and in accordance with Section 16.03 hereofTenant, which structural engineer or contractor shall resolve the dispute by choosing either Xxxxxxxx's or Xxxxxx's estimate, which choice shall be binding on the parties. During the course of any Casualty Restoration costing in excess of the Insurance Proceeds Threshold AmountTenant Restoration, Tenant shall provide monthly summaries to Landlord of the progress of the Construction Work. Such summary shall include a breakdown of the applicable costs spent for the Construction Work for such month. Tenant further agrees that Landlord shall have the right, at all reasonable times and upon reasonable advance noticetimes, to inspect the Premises and Improvements and the progress of the Construction Work during the course of any Casualty Restoration costing in excess of the Insurance Proceeds Threshold AmountWork. Tenant agrees that its if it fails to properly and fully complete such Construction Work, and such failure to complete any Casualty Restoration shall continue for a period of one hundred and eighty (180) days (subject to Unavoidable Delay) after notice thereof from Landlord to Tenant specifying such failure, Landlord shall have the terms hereofright to complete such Construction Work at the cost and expense of Tenant, including, without limitation, the last sentence or to avail itself of Section 11.02(a) hereof) shall be a default under this Lease. Nothing herein shall relieve Tenant of its obligation to submit Payment Certificates as any other remedy provided in Section 11.04(a) hereof24.2 available under law.