Developer Fees. As full compensation for its undertaking and performance of the Developer Services, the Developer and/or its Affiliates shall be entitled to earn and receive developer fees with respect to each Phase of the Revitalization Plan. These developer fees shall be paid solely from syndication proceeds or other development financing sources. The City acknowledges such developer fee with respect to Rental Phase 1 is limited by the NCHFA to $1,000,000, and authorizes payment of such amount provided that the City bears no responsibility for such payment and the fee will not be paid from proceeds of the City Loans
Developer Fees. Notwithstanding the foregoing, upon the sale of any property purchased with the loan, the lender would receive a developer fee of 10% of sale price/amount of each property sold that was bought with the loan until the Credit Line has been repaid in full and all of Borrower’s other obligations to Lender hereunder have been fully paid and discharged.
Developer Fees. On or before issuance by the City of a building permit to Developer, Developer shall pay all development fees, administrative costs and provide a landscaping letter of credit in the amount of 150% of the value of the landscaping improvements. Upon completion of the landscaping improvements and approval by the City, the letter of credit shall be reduced to 50% of the initial value and retained for a one- year warranty period. Upon completion of the one-year warranty period the City will reinspect the landscaping improvements, at which time the letter of credit can be released upon final approval by the City.
Developer Fees pay any developer fees in respect of the RWB Properties, provided that the Facility B Borrowers may pay management fees in the normal course which have been approved by the Lender in its sole discretion;
Developer Fees. Subject to the Project Owner’s election to defer development fees, the following schedule shall apply to the payment of development fees as approved in the financial spreadsheet contained in Appendix D:
Developer Fees. Developer shall receive “Developer Fees” from the Home Funds in an amount not to exceed [ dollar amount of developer fees being provide for the project]. Payment of Developer Fees shall be disbursed as follows:
Developer Fees. As full compensation for its undertaking and performance of Developer Services, the Developer (or a Developer Affiliate designated by it) shall be entitled to earn and receive developer fees from each Rental Owner Entity (the “Developer Fees”). The Developer and the Authority intend that the Developer Fee shall equal the maximum amount available, subject to approval by HUD. Developer shall not be obligated to move forward with a Rental Phase that, at Closing, reflects a paid Developer Fee (exclusive of such amounts as may be deferred and payable through cash flow) of less than ten percent (10%) of project costs (as defined in the HUD Cost Guidelines: total development costs of the Phase excluding all reserves and the Developer Fee itself). Developer agrees that to the extent it (or its Affiliate) receives paid Developer Fee in excess of 10% of project costs it will pay all such amount to the Authority pursuant to a subcontract with the Developer (or Developer Affiliate) in consideration for the Authority’s assistance with the Development Services. The Authority will use such amounts, up to an aggregate amount of two percent (2%) of project costs per Phase, to help implement the Human Capital Plan. The parties further agree, however, that to the extent the Phase Development Budget would sustain a Developer Fee of greater than 10% but would be precluded by a cap on Developer Fee imposed by TDHCA or another relevant funding body then a corresponding amount will instead be provided in the Development Budget for the Authority’s use in helping to implement the Human Capital Plan – or if greater than 12% for other eligible purposes identified by the Authority -- to be funded on a schedule equivalent with the schedule described above relative to payment of Developer Fee. Developer Fees shall be deemed earned and shall be paid on a per-Phase basis in accordance with the terms and conditions of appropriate agreements with the Rental Owner Entity. The Developer and the Authority agree that Developer Fees for each Rental Phase shall be deemed fully earned at substantial completion but, subject to agreement by the Investor, shall be payable not less than 50% at construction loan closing, 25% at substantial completion, and 25% at achievement of stabilized occupancy in accordance with HUD Cost Guidelines. For purposes of this provision, "stabilized occupancy" and "substantial completion" shall be determined based on criteria reasonably established by the Investor; howeve...
Developer Fees. CHDO shall receive “Developer Fees” from the Home Funds in an amount not to exceed [insert dollar amount]. Payment of Developer Fees shall be disbursed as follows:
Developer Fees. (a) The development fee set forth in the Approved Budget shall be disbursed (i) twenty-five percent (25%) on the Closing Date, and (ii) the balance funded monthly on a percentage of completion basis with each Disbursement Request, subject to the Borrower’s compliance with the requirements for Disbursements set forth herein.
Developer Fees. The Developer shall be responsible for paying all applicable fees charged by the City or any entity other than the City upon the Project.
