Soft Costs Insurance to reimburse the Owner for costs due to the delay of completion of the Work, arising out of physical loss or damage covered by the required property insurance: including construction loan fees; leasing and marketing expenses; additional fees, including those of architects, engineers, consultants, attorneys and accountants, needed for the completion of the construction, repairs, or reconstruction; and carrying costs such as property taxes, building permits, additional interest on loans, realty taxes, and insurance premiums over and above normal expenses. « »
Soft Costs Insurance to reimburse the Owner for costs due to the delay of completion of the Work, arising out of physical loss or damage covered by the required property insurance: including legal and accounting expense; architects, engineers and design professionals’ fees; real estate taxes, ground rents and property tax assessments; insurance premiums; project administration expense and general overhead such as temporary leasing or rental expenses, clerical expense and other similar expenses; advertising and promotional expense; commissions or fees for renegotiation leases; lost commitment fees from prospective tenants or purchasers; and testing and qualify control costs. « $1 million »
