Soft Costs. The costs of design, engineering, legal, accounting, interest, construction loan charges, title company charges and real estate taxes accrued during the construction period as set forth in the Development Budget and any other costs designated as “soft costs” in the Development Budget, including, without limitation, projected operating deficit amounts through the Completion Date, and which shall include reasonable costs incurred by HSRE to engage legal counsel to review and approve actions undertaken by Campus Crest, evaluate and advise HSRE with respect to Company matters relating to a Development Project, evaluating approvals requested by Campus Crest and otherwise performing services for the Company upon Campus Crest’s prior approval and further provided that any costs incurred by either Member related to engaging counsel in connection with a dispute between the Members shall not be Soft Costs.
Soft Costs. The particular amounts which may be disbursed for each of the categories set forth in PARAGRAPHS (a) through (e) above are set forth in the Budget for the Project. Amounts in the Budget which are not listed in any of the categories set forth in PARAGRAPHS (a) through (e) above shall not be Qualified Project Expenditures and proceeds of the Loan may not be disbursed for any such costs.
Soft Costs. Costs related to a Project other than Construction Cost including Consultant Basic Services, Additional Services, Work Site Services, survey, testing, laboratory services, general consultant, finance, permitting fees, etc.
Soft Costs. In the case of advances to pay the costs included in the Construction Budget that are not among the costs described in the preceding paragraph, Lender shall have received such evidence as it may require that such costs have been properly incurred and are due and payable.
Soft Costs. Lender shall have received written documentation which satisfactorily accounts to Lender for the expenditure of funds allocated to the payment of any "soft" costs set forth on the Phase 2 Cost Certificate.
Soft Costs. The Builder’s Risk Insurance shall provide compensation for expenditures that are necessarily incurred due to a delay in the completion of the Project caused by or resulting from an insured loss. “Soft costs” endorsement shall cover all damages identified both in the Contract and the Performance Bond.
Soft Costs. Up to fifteen percent (15%) of Commitment No. 2, i.e., Three Hundred Seventy Five Thousand Dollars ($375,000) in aggregate amount, may be used to finance Soft Costs.
Soft Costs. The Public Works Director shall, in his/her sole reasonable discretion, determine the amount of reasonable soft costs eligible for reimbursement under the Fee Credit provision of Rialto Municipal Code Section 3.33.100. Such amounts may include the reasonable soft costs of the City related to the improvements, such as indirect costs of construction, professional engineering and design services, construction management, soils testing, administrative costs, permits, plan check fees, and inspections. For soft costs to be reimbursable to Developer pursuant to this Agreement, City must be able to verify that such soft costs are specifically attributable to the specified Public Improvements for which reimbursement is being made, by reference to separate subcontract(s) or by another means approved by the City. The total amount of the soft costs shall not exceed fifteen percent (15%) of the amount eligible for reimbursement. The Public Works Director may, in his/her reasonable discretion, reduce or disallow reimbursement for any costs he/she finds excessive or unreasonable.
Soft Costs. A. Interest expense;
B. General overhead-developer expenses and additional real estate taxes;
C. Legal or professional fees;
D. Marketing expenses and advertising expenses;
E. Debt service payments and insurance premiums;
SECTION I – PROPERTY (continued)
F. Refinancing charges and bond interest;
G. Founders fees and miscellaneous operating expenses.
Soft Costs. Advances for Soft Costs shall be limited to amounts then due under the applicable contract or otherwise then due and payable, on the basis of invoices, statements or other evidence thereof acceptable to Lender. Advances for fees payable under the Development Agreement and the Property Management Agreement shall be limited to amounts then due thereunder, without giving effect to any amendments or modifications thereto which have not been approved by Lender. The Development Fee in the amount of $1,015,931.00 shall be funded 25% upon the making of the Initial Advance, 65% shall be paid in eighteen (18) equal monthly installments thereafter, and 10% shall be paid upon completion of the Project.
