Public Agency’s Estimated Developer’s Phase 1A Infrastructure Improvements Cost Sample Clauses

Public Agency’s Estimated Developer’s Phase 1A Infrastructure Improvements Cost. 4.1.1.1. The aggregate Public Agency’s Estimated Developer’s Phase 1A Infrastructure Improvements Cost is dollars ($ ), as shown in Exhibit C-1-A attached hereto. Developer’s Phase 1A Infrastructure Improvements Budget as of the Effective Date is attached as Exhibit C-2 hereto. Developer may modify from time to time the Developer’s Phase 1A Infrastructure Improvements Budget reasonably and in good faith and shall provide written notice of any such modification to the Public Agencies. The Developer’s Phase 1A Infrastructure Improvements Budget shall indicate the Guaranteed Maximum Price for the General Contractor’s services, which shall not be increased unless (a) the General Contractor is entitled to an increase under the General Contract or (b) as otherwise expressly agreed by the Authority in writing, in the Authority’s sole and absolute discretion. 4.1.1.2. If, at any time, Developer definitively establishes that the amount expended on the Developer’s Phase 1A Infrastructure Improvements will exceed the amount set forth in the Developer’s Phase 1A Infrastructure Improvements Budget (including contingency amounts), Developer shall promptly, and in any case not more than ten (10) Business Days after the Developer definitively establishes the amount of the increase, notify the Executive Director thereof in writing. This written notification shall include an itemized cost estimate and a list of recommended revisions (e.g., deductive changes) which Developer believes will bring the cost to within the amount set forth in the Developer’s Phase 1A Infrastructure Improvements Budget. The Authority may either: (i) approve an increase in the Developer’s Phase 1A Infrastructure Improvements Budget (which approval shall not be unreasonably withheld, conditioned, or delayed) or (ii) reasonably value engineer, delete or replace subcomponents of a component of the Developer’s Phase 1A Infrastructure Improvements so that the Developer’s Phase 1A Infrastructure Improvements can be constructed for the amount set forth in the Developer’s Phase 1A Infrastructure Improvements Budget, but only if such modification neither has a material and adverse effect on the design, development, or construction of the Resort Hotel or the Project nor delays the Completion of the Resort Hotel, the Parking Improvements or the Project.
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Related to Public Agency’s Estimated Developer’s Phase 1A Infrastructure Improvements Cost

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