Master Development Fee Sample Clauses
The Master Development Fee clause defines the payment structure and terms for compensating a developer or service provider for overseeing and managing a project’s development. Typically, this fee is calculated as a percentage of the total project cost or as a fixed amount, and it may be paid in installments based on project milestones or completion stages. By clearly outlining how and when the development fee is paid, this clause ensures transparency in compensation and helps prevent disputes over payment expectations during the course of the project.
Master Development Fee. As consideration for this Agreement, Developer agrees to pay the City a master development Fee of $3,995,200, partially out of the proceeds of bonds issued by the District and partially in annual cash installments as provided for in Subsection 2.05(c) below. The District, however, shall not be obligated to issue bonds and shall not issue bonds until such time as the assessed value of the Property supports such issuance and the District’s financial advisor advises the District that issuing bonds is economically feasible.
Master Development Fee. As consideration for this Agreement, Developer agrees to pay the City a master development fee in an amount equal to the product of $1,600 per single- family residential lot, multiplied by the total number of single-family residential lots within the Development on the Property, estimated to be approximately $1,920,000 (the “Master Development Fee”), partially out of the proceeds of bonds issued by the District and partially in annual cash installments as provided for in Subsection 2.07(c) below. The District, however, shall not be obligated to issue bonds and shall not issue bonds until such time as the assessed value of the Property supports such issuance and the District’s financial advisor advises the District that issuing bonds is economically feasible.