Note to Drafter. If time and materials under Option # 2, (i) Attachment B should include the hourly labor rates and (ii) Attachment C should include the types of expenses (travel, copying, postage/delivery, etc.) that will be reimbursed at actual out-of-pocket cost. Also need to provide in Attachment C the basis for reimbursable costs, i.e. mileage reimbursement at the IRS-approved rate only for use of a personal motor vehicle; air travel via most direct route on coach class only, etc.]
Note to Drafter. Section headings have been formatted to automatically populate the Table of Contents. However, when editing this document for your own use, the page numbers may change. In order to reflect the correct page numbers in the Table of Contents, you must “update page numbers” to the Table of Contents by (1) right-clicking anywhere in the Table of Contents, and (2) choose “update field,” then “update page numbers only.” If you add or delete section headings, follow step (1) and (2) above and choose “update entire table.” Page
Note to Drafter. Further invoice requirements will depend on payment terms detailed above. For example, the Scope of Work may stipulate a staged completion plan with interim deliverables, and compensation tied to completion and approval of those deliverables. If time and materials contract, invoice needs to detail name of staff being billed, hourly rate, task description, and line item detail of reimbursable expenses and receipts for all reimbursable expenses. If fixed price contract, need to detail the milestone being billed for or any other basis for the payment. These types of details should be developed on the form of invoice with each contractor.]
Note to Drafter. If deal is intended to be syndicated but additional Lenders are not likely to join deal until after closing (so that other Lenders may not have the opportunity to review loan documents before they are executed), then discuss with CRE Syndications teammate working on deal whether or not to include the following Agent removal provision in Section 10.7: “In the event of gross negligence or willful misconduct by Administrative Agent (in its capacity as Administrative Agent under the Loan Documents), as determined pursuant to a final, non-appealable judgment of a court of competent jurisdiction, Administrative Agent may be removed as Administrative Agent under the Loan Documents with the consent of all Lenders (other than the Lender then acting as Administrative Agent) and the Borrower (provided, however, no such consent by Borrower shall be required if a Default or Event of Default shall then exist), upon 30-days’ prior written notice to Administrative Agent.” If added, revise remainder of Section 10.7 to include “removal” of Administrative Agent, in addition to resignation, where applicable.
Note to Drafter. If the Agent removal language from the immediately preceding footnote is added, then revise the first portion of this sentence to read: “Upon any such resignation or removal, the Required Lenders (which, in the case of the removal of Administrative Agent as provided in the immediately preceding sentence, shall be determined without regard to the Commitment of the Lender then acting as Administrative Agent) ……”
Note to Drafter. Revise reference if a party other than the Grantor enters into a hedge in connection with the Loan. MARYLAND DEED OF TRUST Last Revised 12.06.2019
Note to Drafter. At a minimum, be sure to include: (1) when and for what time period the Vegetation Maintenance Standard must be met by sheep farmer (2) separate entries/date ranges for when sheep will be on-site if a multi-season SOW and sheep will not be on the site continuously (with the understanding that there is a "buffer period” for delivering the sheep per section 5).
Note to Drafter. Large counties must provide a minimum of 10% and medium and small counties a minimum of 5%.) Cash (hard) Match funds cannot be used to supplant or replace funds otherwise dedicated or appropriated by the Participating County for construction activities. Cash (hard) Match funds cannot be claimed for salaries/benefits of regular employees of the Participating County Workforce but may be claimed for the services of consultants or contractors engaged to perform Project related services as described below. Cash (hard) Match funds only include costs of:
Note to Drafter. This template allows for notice to be given via email to the person identified in this section (notice via email is not effective until the email is received as evidenced by a read-receipt). If you do not want to permit notice via email, please remove this highlighted language AND the last sentence in section 6(c).
