Common use of Master Development Fee Clause in Contracts

Master Development Fee. As consideration for this Agreement, Developer agrees to pay the City a “Master Development Fee” of $2,097,600, partially payable from or concurrently with the proceeds of bonds issued by the District and partially in annual cash installments as provided for in Subsection 2.03(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” master development Fee of $2,097,6003,995,200, partially payable from or concurrently with out of the proceeds of bonds issued by the District and partially in annual cash installments as provided for in Subsection 2.03(c2.05(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” of $2,097,600, partially payable from or concurrently with and out of the proceeds of bonds issued by the District Districts and partially in annual cash installments as provided for in Subsection 2.03(c) below. The DistrictDistricts, 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 Districts’ financial advisor advises the District Districts that issuing bonds is economically feasible.