Examples of Maintenance and Repair Limit in a sentence
Any loss, damage, or injury resulting from OWNER’s failure to provide capital improvements and/or funds in excess of the Maintenance and Repair Limit when reasonably requested by CONTRACTOR shall be the sole responsibility of OWNER.
If, at any point during an Agreement Year, the actual Maintenance and Repair expenditures would exceed the Maintenance and Repair Limit, the CONTRACTOR shall request OWNER approval prior to the expenditure.
CONTRACTOR will track Maintenance and Repair expenditures incurred against the Maintenance and Repair Limit.
Should OWNER and CONTRACTOR fail to agree, the Annual Fee (and Maintenance and Repair Limit included therein) will be adjusted by multiplying the existing Annual Fee by the percentage increase in the Consumer Price Index for all Urban Consumers (U.S. City Average) as published by the U.
CONTRACTOR shall reimburse OWNER an amount, if any, equal to all unexpended amounts remaining in the Maintenance and Repair Limit by August 31 of each year.
All expenditures charged to the Maintenance and Repair Limit shall be itemized and referenced to related work orders.
The Maintenance and Repair Limit included in the Annual Fee is $30,000 (thirty thousand dollars).
The initial Maintenance and Repair Limit included in the Monthly Fee is $21,350.00 ($256,200.00 annually).
The prorated Maintenance and Repair Limit for the period October 28, 2019 through October 31, 2019 and included in the Monthly Fee equates to $2,754.84.
The Maintenance and Repair Limit Fund for the first year is $100,000.