General Infrastructure Assessment Clause Samples

General Infrastructure Assessment. Tenant shall pay to Landlord a fee for Landlord to develop, construct, improve, operate, maintain and repair other Greek Village infrastructure, which shall include, but shall not be limited to, utilities, stormwater detention measures, erosion control facilities, roads, sidewalks, and miscellaneous transportation improvements (the “General Infrastructure Assessment”). Tenant shall select one of two methods for payment of the General Infrastructure Assessment as further outlined below: (i) Option 1: Tenant shall make payment of One Hundred Percent (100%) of a discounted General Infrastructure Assessment in the sum of Three Hundred Fifty Thousand Dollars ($350,000) to Landlord on or before the Lease Commencement Date. If Tenant chooses this option, then Tenant shall make payments to Landlord on the following schedule: • Payment of Twenty-Five Thousand Dollars ($25,000.00) toward the General Infrastructure Assessment shall be credited from the existing deposit held by University on the Effective Date of this Lease; • Payment of Three Hundred Twenty-Five Thousand Dollars ($325,000) on or before the Lease Commencement Date. (ii) Option 2: Tenant shall make payment of fifty percent (50%) of the total General Infrastructure Assessment amount of Four Hundred Thousand Dollars ($400,000), which is equal to Two Hundred Thousand Dollars ($200,000), to the Landlord on or before the Lease Commencement Date. If Tenant chooses this option, then Tenant shall make payments to Landlord on the following schedule: • Payment of Twenty-Five Thousand Dollars ($25,000.00) shall be credited from the existing deposit held by University on the Effective Date of this Lease; • Payment of One Hundred Seventy-Five Thousand Dollars ($175,000) on or before the Lease Commencement Date. Tenant shall pay the remaining Two Hundred Thousand Dollars ($200,000) by means of the University’s withholding of Receipts (hereafter defined) collected by University pursuant to this Lease. University shall withhold Twenty Thousand Dollars ($20,000) annually from such Receipts commencing during the second (2nd) Lease Year and continuing through the subsequent nine (9) Lease Years, or until the General Infrastructure Assessment is paid in full. If construction of the Chapter House (hereafter defined) has not been completed such that no certificate of occupancy has been issued and Receipts are not available, Tenant shall make payment of Twenty Thousand Dollars ($20,000) on the first day of the second (2nd) L...