Common use of Cost Statement Clause in Contracts

Cost Statement. Lessee's Contribution: Lessor will prepare for Lessee's approval a cost statement which upon completion and approval shall be attached as Exhibit E (the "Phase I Cost Statement"), showing the expected construction cost of the Lessee Interior Improvements for Phase I. Lessor may include in the Phase I Cost Statement, a construction management fee, covering its overhead and profit equal to six percent (6%) of all costs shown on the Phase I Cost Statement including 3% for general conditions plus any additional costs approved by Lessee. No other general contractor's fees or costs shall be charged to Lessee or against the Phase I TI Allowance in connection with the Lessee Interior Improvements. If Lessor's actual cost exceeds the Phase I Cost Statement, Lessee may pay the excess or remove items until the total costs are acceptable to Lessee. Lessor and Lessee shall negotiate in good faith to reduce the costs for construction of the Lessee Interior Improvements for Phase I by modifying the plans or taking other appropriate actions. Lessee shall pay its approved share of the cost for construction of the Lessee Interior Improvements for Phase I within fifteen (15) days after Lessor has billed Lessee and provided Lessee with evidence that the approved work being billed has been installed. All costs payable by Lessee for construction of the Lessee Interior Improvements for Phase I shall be reasonably documented and subject to verification by Lessee.

Cost Statement. Lessee's Contribution: Lessor will prepare for Lessee's approval a cost statement which upon completion and approval shall be attached as Exhibit E E.1 (the "Phase I II Cost Statement"), showing the expected construction cost of the Lessee Interior Improvements for Phase I. II. Lessor may include in the Phase I II Cost Statement, a construction management fee, covering its overhead and profit equal to six percent (6%) of all costs shown on the Phase I II Cost Statement including 3% for general conditions plus any additional costs approved by Lessee. No other general contractor's fees or costs shall be charged to Lessee or against the Phase I II TI Allowance in connection with the Lessee Interior Improvements. If Lessor's actual cost exceeds exceed the Phase I II Cost Statement, Lessee may pay the excess or remove items until the total costs are acceptable to Lessee. Lessor and Lessee shall negotiate in good faith to reduce the costs for construction of the Lessee Interior Improvements for Phase I II by modifying the plans or taking other appropriate actions. Lessee shall pay its approved share of the cost for construction of the Lessee Interior Improvements for Phase I II within fifteen (15) days after Lessor has billed Lessee and provided Lessee with evidence that the approved work being billed has been installed. All costs payable by Lessee for construction of the Lessee Interior Improvements for Phase I II shall be reasonably documented and subject to verification by Lessee.

Cost Statement. Lessee's ContributionLESSEE'S CONTRIBUTION: Lessor will prepare for Lessee's approval a cost statement which upon completion and approval shall be attached as Exhibit E F (the "Phase I Cost Statement"), showing the expected construction cost of the Lessee Interior Improvements for Phase I. Lessor may include in the Phase I Cost Statement, a construction management fee, covering its overhead overhead, profit, and profit other similar costs not otherwise expressly indicated on the Phase I Cost Statement, equal to six percent (6%) of all costs shown on the Phase I Cost Statement including 3% for general conditions plus any additional costs approved by Lessee. No other provided that no general contractor's fees or costs fee shall be charged to Lessee or against included in the Phase I TI Allowance in connection with the Lessee Interior ImprovementsCost Statement. If Lessor's actual cost exceeds exceed the Phase I Cost StatementThirty Five Dollars ($35) per sq. ft., Lessee may pay the excess in cash, utilize the additional Five Dollars ($5) allowance as set forth above, or remove items until the total costs are acceptable to Lessee. Lessor and Lessee shall negotiate in good faith to reduce the costs for construction of the Lessee Interior Improvements for Phase I by modifying the plans or taking other appropriate actionsactions so that Lessor shall not exceed the Lessee approved Cost Statement without approval of Lessee. Lessee shall pay its approved share of the cost for construction of the Lessee Interior Improvements for Phase I within fifteen thirty (1530) days after Lessor has billed Lessee and provided Lessee with evidence that the approved work being billed has been installedfor the Lessee Interior Improvements for Phase I is complete. All costs payable by Lessee for construction of the Lessee Interior Improvements for Phase I shall be reasonably documented and subject to verification by Lessee.