Payments for Construction Costs Sample Clauses

Payments for Construction Costs. The Lender shall have received no less than three (3) Business Days before the date of each Advance, the proceeds of which will be used in whole or in part to pay costs incurred in the construction of the Project (or to reimburse the Borrower for such a payment), (i) an AIA Document G702 and G703 standard draw request form and certificate for payment, certified by both the Borrower and the Construction Consultant, and (ii) a date-down endorsement to the Lender's title insurance policy, showing that there are no new exceptions to said policy and that the amount of title insurance coverage has increased to the full amount advanced by the Lender hereunder, which amount shall include the amount of the proposed Advance. If the Advance is the final Advance, the Borrower shall provide to the Lender with the request for the Advance: (i) a certificate certifying that the construction of the Project has been substantially completed in accordance with the Plans; (ii) a certificate from each subcontractor with respect to the Project satisfactory to the Lender certifying that such subcontractor has been paid in full for all work performed or to be performed with respect to the Project, or if not, the amounts payable for such work, and releasing all lien rights with respect to the Project; (iii) a certificate of occupancy for each building included in the Project from the relevant Governmental Authority; and (iv) an "as built" survey of the Real Estate, certified by a licensed surveyor satisfactory to the Lender, showing that the Project has been completed substantially in accordance with the Plans.

Payments for Construction Costs. As generally stated in paragraph 5 above, for completion of the Services in accordance with this Agreement, the County agrees to provide designated funding to Meridian for Construction Costs of the Facility. Construction Costs are defined for the purposes of this Agreement as those directly related to: (i) the clearing, filling, excavating, grading, paving, dredging, mining, drilling, or otherwise significantly disturbing the soil or vegetation of a site; (ii) building, installing, enlarging, replacing, or substantially restoring a structure, impervious surface, or water management system on a site; and (iii) the erection, placement, alteration, remodeling, or reconstruction of any structure or building or its associated features or utilities. Construction Costs do not include any costs associated with receiving necessary development approvals such as land use approvals, zoning approvals, site plan approvals, or building permit approvals. Payment for Construction Costs will be on reimbursement basis, upon invoice from Meridian to the County. The Parties agree to following draw schedule, in the following amounts: After full execution of this Agreement and Subrecipient Agreement for the Central Receiving System (after effective date) - $125,000 Construction 30% - $125,000 Construction 60% - $125,000 Construction Complete (Final Payment) - $125,000 Meridian will submit written invoices to the County requesting payment for the Construction Cost and Services properly rendered. The invoice shall state the amount due from the County based upon the above schedule, the description of the Construction Costs and Service rendered. The invoice shall be accompanied by such documentation and data in support of the expense for which payment is sought. Each invoice shall bear the signature of Meridian’s contractor or engineer, which shall constitute representation to the County that the work indicated in the invoice have reached the level stated, have been properly and timely performed as required herein, that the expenses included in the invoice have been reasonably incurred in accordance with this Agreement, and that the amount requested is currently due and owing, there being no reason known to Meridian that payment of any portion thereof should be withheld. Submission of the invoice for final payment shall further constitute Meridian's representation to the County that, upon receipt by Meridian of the amount invoiced, all obligations of Meridian to others, including it...