Common use of Developer Fee Clause in Contracts

Developer Fee. The Developer Fee (the “Fee”) shall be the DEVELOPER’s time and expense for delivering the Unit to an eligible buyer (“Eligible Buyer”) who has been approved by the City in accordance with the NSP Program above the costs listed in subsection 3.2. The Fee shall be determined by multiplying 10% by the sum of the initial purchase price and repair costs which are approved by the City. The Fee shall not be paid until an Eligible Buyer occupies the Unit.

Developer Fee. The Developer Fee (the “Fee”) shall be the DEVELOPERDeveloper’s time and expense for delivering the Unit to an eligible buyer tenant (“Eligible BuyerTenant”) who has been approved by the City in accordance with the NSP NSP3 Program above the costs listed in subsection 3.2. The Fee shall be determined by multiplying 10% by the sum of the initial purchase price and repair costs which are approved by the City. The Fee shall not be paid until an Eligible Buyer occupies the Unit3.