Common use of Development Consultant Clause in Contracts

Development Consultant. (a) Borrower acknowledges that Lender may retain from time to time a Development Consultant at the sole expense of Borrower, to act as a consultant and only as a consultant to Lender in connection with the predevelopment, development and construction of the Project. Without limitation of the foregoing, the Development Consultant shall advise Lender in connection with all approvals requested of Lender under this Agreement, any general contract, any architect agreement and any engineer agreement. In addition the Development Consultant shall have the right to inspect, examine and test the predevelopment, development and construction of the Project at Borrower's expense. In connection with any such examination, inspection or test (x) the Development Consultant shall have the right to question any general contractor, the Property Manager, any architect, any engineer and their respective employees concerning such predevelopment, development and construction, and (y) Borrower, any general contractor, Manager, any architect and any engineer shall make available to the Development Consultant such facilities and office or other working space as may be reasonably requested. The Development Consultant shall have the right to attend any meetings of Borrower's, any general contractor's, any architect's, Manager's and/or any engineer's team. Borrower, any general contractor, any architect and any engineer will meet with the Development Consultant at such times as the Development Consultant may reasonably request and will promptly provide the Development Consultant with such information as the Development Consultant may reasonably request. If a Development Consultant is retained, such Development Consultant shall be furnished with copies of all information, reports, documents, notices and other materials required to be provided to Lender pursuant to this Agreement, at the same time furnished to Lender, or required to be provided to Borrower under any general contract, any architect agreement or any engineer agreement. Borrower shall reimburse Lender for the fees of, and reimbursements to, the Development Consultant within five (5) days following Lender's request therefor, provided that Borrower shall not be obligated to reimburse Lender for any fees (as opposed to reimbursements for out-of-pocket costs and expense) of the Development Consultant that exceed $20,000 per month. (b) Borrower acknowledges that (i) the Development Consultant shall in no event have any power or authority to give any approval or consent or to do any other act or thing which is binding upon Lender, (ii) Lender reserves the right to make any and all decisions required to be made by Lender under this Agreement with respect to the predevelopment, development and construction of the Project in accordance with the Business Plan and the Predevelopment Budget and to give or refrain from giving any and all consents or approvals required to be given by Lender under this Agreement with respect to predevelopment, development and construction of the Project in accordance with the Business Plan and the Predevelopment Budget, and to accept or not accept any matter or thing required to be accepted by Lender under this Agreement with respect to the predevelopment, development and construction of the Project in accordance with the Business Plan and the Predevelopment Budget, and without being bound or limited in any manner or under any circumstance whatsoever by any opinion expressed or not expressed, or advice given or not given, or information, certificate or report provided or not provided, by the Development Consultant with respect thereto, (iii) Lender reserves the right in its sole and absolute discretion to disregard or disagree, in whole or in part, with any opinion expressed, advice given or information, certificate or report furnished or provided by the Development Consultant to Lender or any other person or party, and (iv) Lender reserves the right to replace the Development Consultant with another inspecting engineer or other appropriate Person at any time and without prior notice to or approval by Borrower.