Common use of Construction Obligations Clause in Contracts

Construction Obligations. (a) The General Partner hereby guarantees lien free Completion of Construction of the Apartment Housing on or before May 1, 2003 ("Completion Date") at a total development cost of not more than $4,555,000 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, and the Project Documents. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that the Development Budget exceeds the sum of the Capital Contributions and the Mortgage amount then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreement. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from the Special Limited Partner, the General Partner shall advance the requested funds into the Construction Lender's construction account.

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion of Construction of the Apartment Housing on or before May October 1, 2003 2000 ("Completion Date") at a total development cost of not more than $4,555,000 1,021,610 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before May November 1, 2003 2004 ("Completion Date") ), at a total development cost of not more than $4,555,000 2,534,158 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before May August 1, 2003 2005 ("Completion Date") ), at a total development cost of not more than $4,555,000 2,398,257 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion of Construction of the Apartment Housing on or before May June 1, 2003 2002 ("Completion Date") at a total development cost of not more than $4,555,000 1,006,035 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion of Construction of the Apartment Housing on or before May 1October 31, 2003 2000 ("Completion Date") at a total development cost of not more than $4,555,000 1,228,050 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees lien free Completion of Construction of the Apartment Housing on or before May 1, 2003 ("Completion Date") at a total development cost of not more than $4,555,000 4,912,000 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, and the Project Documents. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that the Development Budget exceeds the sum of the Capital Contributions and the Mortgage amount then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreement. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from the Special Limited Partner, the General Partner shall advance the requested funds into the Construction Lender's construction account.

Construction Obligations. (a) The General Partner hereby guarantees lien free Completion completion of Construction construction of the Apartment Housing on or before May January 1, 2003 2007 ("Completion Date") ), at a total development cost of not more than $4,555,000 1,477,034 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee, then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before May November 1, 2003 2004 ("Completion Date") ), at a total development cost of not more than $4,555,000 1,798,167 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before May November 1, 2003 2004 ("Completion Date") ), at a total development cost of not more than $4,555,000 1,832,483 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before May November 1, 2003 2004 ("Completion Date") ), at a total development cost of not more than $4,555,000 2,554,585 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees lien free Completion completion of Construction construction of the Apartment Housing on or before May December 1, 2003 2006 ("Completion Date") ), at a total development cost of not more than $4,555,000 2,199,678 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee, then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;

Construction Obligations. (a) The General Partner hereby guarantees lien free Completion of Construction of the Apartment Housing on or before May 1, 2003 ("Completion Date") at a total development cost of not more than $4,555,000 4,550,000 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, and the Project Documents. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that the Development Budget exceeds the sum of the Capital Contributions and the Mortgage amount then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreement. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from the Special Limited Partner, the General Partner shall advance the requested funds into the Construction Lender's construction account.

Construction Obligations. (a) The General Partner hereby guarantees a lien free Completion completion of Construction construction of the Apartment Housing on or before May November 1, 2003 2004 ("Completion Date") ), at a total development cost of not more than $4,555,000 2,475,747 ("Development Budget"), which includes all hard and soft costs incident to the acquisition, development and construction of the Apartment Housing in accordance with the Construction Budget, the Construction Contract, the other Project Documents and the Project DocumentsPlans and Specifications. At any time during construction and prior to Permanent Mortgage Commencement, if the Special Limited Partner ascertains that If the Development Budget exceeds the sum of the Capital Contributions and Contributions, the Mortgage amount as specified herein and the Development Fee then the General Partner shall be responsible for and shall be obligated to pay the difference thereof within thirty days of receiving written notice from the Special Limited Partner except as otherwise provided for in this Agreementthereof. Any advances by the General Partner pursuant to the previous sentence shall not be repayable, shall not change the Interest of any Partner in the Partnership and shall be considered a guaranteed payment to the Partnership for cost overruns. Upon such notice from If the Special Limited Partner, in good faith, ascertains that the General Partner shall advance cost of completing the requested funds into Improvements in substantial accordance with the Construction Lender's construction account.Plans and Specifications is greater than the sum of (1) the then remaining undisbursed portion of the Capital Contributions;