Common use of Project Costs and Obligations Clause in Contracts

Project Costs and Obligations. The Developer agrees that upon substantial completion of the Project the Project shall have a fair market value as of December 31, 2017, of not less than $2,806,142.00 (exclusive of land costs) as verified by the City Assessor; and shall provide to the City satisfactory evidence thereof upon substantial completion. During the term of this Agreement, the Developer shall reasonably repair and maintain the Project so as to preserve and maintain the fair market value thereof, so as not to fall below the amounts hereinafter described. During the term of this Agreement, Developer shall not, by act or omission, take any action or omit to take any action that will result in a substantial diminution of the fair market value of the Project.

Project Costs and Obligations. The Developer agrees that upon substantial completion Substantial Completion of the Project Project, the Project shall have a fair market value as of December 31January 1, 20172021, of not less than $2,806,142.00 750,000 (exclusive of land costs) as verified by the City Village Assessor; and shall provide to the City Village satisfactory evidence thereof upon substantial completion. During the term of this Agreement, the Developer shall reasonably repair and maintain the Project so as to preserve and maintain the fair market value thereof, so as not to fall below the amounts hereinafter described. During the term of this Agreement, Developer shall not, by act or omission, take any action or omit to take any action that will result in a substantial diminution of the fair market value of the Project.

Project Costs and Obligations. The Developer agrees that upon substantial Substantial completion of the Project Project, the Project shall have a fair market value as of December 31January 1, 20172018, of not less than $2,806,142.00 174,399.00 (exclusive inclusive of land costs) as verified by the City Assessor; and shall provide to the City satisfactory evidence thereof upon substantial completion. During the term of this Agreement, the Developer shall reasonably repair and maintain the Project so as to preserve and maintain the fair market value thereof, so as not to fall below the amounts hereinafter described. During the term of this Agreement, Developer shall not, by act or omission, take any action or omit to take any action that will result in a substantial diminution of the fair market value of the Project.

Project Costs and Obligations. The Developer agrees that upon substantial completion of the Project the Project shall have a fair market value as of December 31, 2017, of not less than $2,806,142.00 (exclusive of land costs) as verified by the City Assessor; and shall provide to the City satisfactory evidence thereof upon substantial completion. During the term of this Agreement, the Developer shall reasonably repair and maintain the Project so as to preserve and maintain the fair market value thereof, so as not to fall below the amounts hereinafter described. During the term of this Agreement, Developer shall not, by act or omission, take any action or omit to take any action that will result in a substantial diminution of the fair market value of the Project.