Payments to Developer. Within thirty (30) days after District approval of the Application for Tenant Improvement Payment, Developer shall be paid a sum equal to ninety percent (90%) of the value of the Work performed (as verified by Architect and Inspector and certified by Developer) up to the last day of the previous month, less the aggregate of previous payments and amount to be withheld as allowable herein. The value of the Work completed shall be Developer’s best estimate. No inaccuracy or error in said estimate shall operate to release the Developer, or any Surety upon any bond, from damages arising from such Work, or from the District's right to enforce each and every provision of this Contract, and the District shall have the right subsequently to correct any error made in any estimate for payment.
Appears in 5 contracts
Samples: Facilities Lease, Master Facilities Lease, Master Facilities Lease
