Common use of Development Fee Payments Clause in Contracts

Development Fee Payments. 3.1 Services Rendered Prior to the date of this Agreement. The Parties acknowledge and agree that Developer has earned the sum of $121,000 for services rendered, that said amount is reasonable in relation to the work performed, is fully earned as of that date and said amount shall be paid in any event notwithstanding the termination of this Agreement. The Parties further acknowledge and agree that the Owner has accrued the Development Fee of $121,000, under its method of accounting, and has reported the Development Fee expense on its 2000 income tax return.

Development Fee Payments. 3.1 Services Rendered Prior to the date of this AgreementApril 30, 2004. The Parties acknowledge and agree that Developer has earned the sum of $121,000 25,000 for services renderedrendered prior to April 30, 2004, that said amount is reasonable in relation to the work performed, is fully earned as of that date and said amount shall be paid in any event notwithstanding the termination of this Agreement. The Parties further acknowledge and agree that the Owner has accrued the Development Fee of $121,00025,000, under its method of accounting, and has reported will report the Development Fee expense on its 2000 2003 income tax return.