DEVELOPER BEARS THE RISK Clause Samples
The "Developer Bears the Risk" clause assigns responsibility for certain risks or liabilities to the developer in a contractual relationship. In practice, this means that if unforeseen issues arise—such as cost overruns, delays, or defects in the work—the developer, rather than the client or owner, is financially and legally responsible for addressing them. This clause is commonly used to ensure that the party best positioned to manage and control project risks is held accountable, thereby protecting the client from unexpected expenses or complications.
DEVELOPER BEARS THE RISK. Developer understands and agrees that any expenditure made by Developer in anticipation of reimbursement of TIRZ Funds shall not be, nor shall be construed to be, the financial obligations of the City and/or the TIRZ. Developer bears all risks associated with reimbursement, including, but not limited to incorrect estimates of tax increment, changes in tax rates or tax collections, changes in law or interpretations thereof, changes in market or economic conditions impacting the Public Improvements and Public Infrastructure, changes in interest rates or capital markets, changes in building and development code requirements, changes in City policy, and unanticipated effects covered under legal doctrine of force majeure. Any contribution made by Developer in anticipation of reimbursement from the TIRZ Fund shall never be an obligation of the City’s General Fund, but are only obligations of the TIRZ Fund, and are subject to limitations herein.