PROJECT MAINTENANCE COSTS Clause Samples
The "Project Maintenance Costs" clause defines the responsibilities and procedures for covering expenses related to the ongoing upkeep and servicing of a project after its initial completion. Typically, this clause outlines which party is responsible for routine maintenance, repairs, and associated costs, and may specify the duration and scope of these obligations. By clearly allocating financial responsibility for maintenance, the clause helps prevent disputes over unexpected expenses and ensures the project remains in good working order throughout its operational life.
PROJECT MAINTENANCE COSTS. The term "Project Maintenance Costs" shall mean all reasonable costs and expenses (except Landlord's Insurance Costs and Real Property Taxes) actually paid or incurred by Landlord in protecting, operating, maintaining, ·repairing and preserving the Project and all parts thereof, including without limitation: (i) professional management fees (equal to three percent (3%) of the annualized Base Monthly Rent), (ii) the costs incurred by Landlord in the making of any modifications, alterations or improvements as set forth in Article 5 to comply with any applicable Laws such as costs associated with complying with the Americans with Disabilities Act (ADA), (iii) all costs, fees, expenses, assessments, and the like charged by any public or private maintenance association or district whether such costs are incurred on or off the Project, for the benefit of the Project, also including any costs required to be paid by Landlord pursuant to any covenants, conditions, and/or restrictions effecting the Project for the benefit of any common property owners association, (iv) fees or other costs and expenses incurred with respect to any Private Restrictions affecting the Project, to the extent such fees, costs and expenses are not charged directly to Tenant, and (v) such other costs as may be paid or incurred with respect to operating, maintaining and preserving the Project, such as repairing replacing and resurfacing the exterior surfaces of the Building (including its roof), repairing, replacing, and resurfacing paved areas, cleaning, maintaining, repairing, or replacing the interior of the Premises both during the Term and upon the termination of the Lease, and maintaining, repairing or replacing, when necessary electrical, plumbing, sewer, drainage, heating, ventilating and air conditioning systems serving the Building, providing utilities to the common areas, maintenance, repair, replacement or installation of lighting fixtures, directional or other signs and signals, irrigation or drainage systems, trees, shrubs, materials, maintenance of all landscaped areas, and depreciation and financing costs on maintenance and operating machinery and equipment (if owned) and rental paid for such machinery and equipment (if leased). Notwithstanding anything to the contrary in this Lease, Project Maintenance Costs shall not include and Tenant shall in no event have any obligation to reimburse Landlord for, all or any portion of the following repairs, maintenance, improvements, rep...
PROJECT MAINTENANCE COSTS. The term “Project Maintenance Costs” shall mean all costs and expenses (except Landlord’s Insurance Costs and Real Property Taxes) paid or incurred by Landlord in protecting, operating, maintaining, repairing and preserving the Project and all parts thereof, including without limitation, (i) professional management fees (not to exceed three percent of the Project’s scheduled gross rental income), (ii) the amortizing portion of any costs incurred by Landlord in the making of any modifications, alterations or improvements required by any governmental authority as set forth in Article 6, which are so amortized during the Lease Term, and (iii) such other costs as may be paid or incurred with respect to operating, maintaining and preserving the Project, such as repairing and resurfacing the exterior surfaces of the buildings (including roofs), repairing and resurfacing paved areas, repairing structural parts of the building, and replacing, when necessary, electrical, plumbing, heating, ventilating and air conditioning systems serving the buildings.
PROJECT MAINTENANCE COSTS. The term "Project Maintenance Costs" shall mean all costs and expenses (except Landlord's Insurance Costs and Real Property Taxes) paid or incurred by Landlord, in any manner whatsoever, in connection with the ownership and in protecting, operating, maintaining, replacing, repairing and preserving the Project, Building and all parts thereof, and without limiting the generality of the foregoing, Project Maintenance Costs shall include without limitation,
(i) the amortizing portion of any costs incurred by Landlord in the making of any modifications, alterations or improvements required by any governmental authority, except those that are required to be paid and are paid by a Tenant pursuant to Article 6, which are so amortized during the Term, and the depreciation or amortization of any capital improvements made or installed for the purpose of saving labor or otherwise reducing applicable operating costs including an eighteen percent (18%) per annum cost of money factor, (ii) such other costs as may be paid or incurred with respect to operating, managing, constructing, maintaining, repairing, replacing, and preserving the Project, such as repairing, resurfacing, or replacing the exterior surfaces of the Buildings (including roofs), repairing, resurfacing or replacing paved areas, snow removal, landscape and irrigation system maintenance, repairing structural parts of the Buildings, providing common area lighting, and repairing or replacing, when necessary, electrical, plumbing, heating, ventilating, air conditioning systems, and other systems serving the Buildings,
PROJECT MAINTENANCE COSTS. The term "Project Maintenance Costs" shall mean all costs and expenses (except Landlord's Insurance Costs and Real Property Taxes) paid or incurred by Landlord, in any manner whatsoever, in connection with the ownership and in protecting, operating, maintaining, replacing, repairing and preserving the Project, Building and all parts thereof, and without limiting the generality of the foregoing, Project Maintenance Costs shall include without limitation,
(i) the amortizing portion of any costs incurred by Landlord in the making of any modifications, alterations or improvements required by any governmental authority, except those that are required to be paid and are paid by a Tenant pursuant to Article