Common use of Initial Alterations Clause in Contracts

Initial Alterations. It is agreed that the Lessor shall complete alterations in accordance with Exhibit “A”, Floor Plan, and Exhibit “E”, Construction and Security Specifications, attached hereto and made a part hereof. Said alterations shall commence after Government execution of this Lease and Government has issued a notice to proceed (NTP). It is agreed by and between the parties hereto that upon the Government accepting the Space, ownership of all alterations to the property, both real and personal that are placed upon or added to the Premises by reason of this provision, shall be and will immediately become the property of the Government and may be removed from the Premises or abandoned in place by the Government. The total cost of alterations is in the amount of $[Insert Amount]. (note: also state lump sum amount in words) (Delete the following paragraph if the Lessor is not contributing any funds towards alterations) The Lessor has agreed to pay all of / a portion of [Select as appropriate] the cost of alterations in the amount of $[Insert Amount]. (note: also state lump sum amount in words) (note: Include the following sentence where Lessor is paying for all of the cost of alterations.) The parties hereby agree that if the cost of alterations exceeds the total amount listed herein, the Lessor shall promptly pay [the Government or the third party owed] for such additional amounts to avoid any delay in the alterations being completed or the Government accepting the Space. (If the Lessor is paying for all alterations, delete the following Option 1 and Option 2. If the Lessor isn’t paying for all or a portion of the alterations, choose Option 1 or Option 2.)

Initial Alterations. It is agreed that the Lessor shall complete alterations in accordance with Exhibit “A”, Floor Plan, and Exhibit “E”, Construction and Security Specifications, attached hereto and made a part hereof. Said alterations shall commence after Government execution of this Lease and Government has issued a notice to proceed (NTP). It is agreed by and between the parties hereto that upon the Government accepting the Space, ownership of all alterations to the property, both real and personal that are placed upon or added to the Premises by reason of this provision, shall be and will immediately become the property of the Government and may be removed from the Premises or abandoned in place by the Government. The total cost of alterations is in the amount of $[Insert Amount]. (note: also state lump sum amount in words) (Delete the following paragraph if the Lessor is not contributing any funds towards alterations) The Lessor has agreed to pay all of / a portion of [Select as appropriate] the cost of alterations in the amount of $[Insert Amount]. (note: also state lump sum amount in words) (note: Include the following sentence where Lessor is paying for all of the cost of alterations.) The parties hereby agree that if the cost of alterations exceeds the total amount listed herein, the Lessor shall promptly pay [the Government or the third party owed] for such additional amounts to avoid any delay in the alterations being completed or the Government accepting the Space. (If The Government shall reimburse the Lessor is paying for all alterationsby a lump sum payment the cost of alterations completed at Government expense, delete the following Option 1 and Option 2in an amount not to exceed $[Insert Amount]. If the Lessor isn’t paying for all or a portion (note: also state lump sum amount in words) Such payment shall be made upon completion of the alterations, choose Option 1 or Option 2alterations and acceptance by the Government.)

Initial Alterations. It is agreed that the Lessor shall complete alterations in accordance with Exhibit “A”, Floor Plan, and Exhibit “E”, Construction and Security Specifications, attached hereto and made a part hereof. Said alterations shall commence after Government execution of this Lease and Government has issued a notice to proceed (NTP). It is agreed by and between the parties hereto that upon the Government accepting the Space, ownership of all alterations to the property, both real and personal that are placed upon or added to the Premises by reason of this provision, shall be and will immediately become the property of the Government and may be removed from the Premises or abandoned in place by the Government. The total cost of alterations is in the amount of $$ [Insert Amount]. (note: also state lump sum amount in words) (Delete the following paragraph if the Lessor is not contributing any funds towards alterations) The Lessor has agreed to pay all of / a portion of [Select as appropriate] the cost of alterations in the amount of $$ [Insert Amount]. (note: also state lump sum amount in words) (note: Include the following sentence where Lessor is paying for all of the cost of alterations.) The parties hereby agree that if the cost of alterations exceeds the total amount listed herein, the Lessor shall promptly pay [the Government or the third party owed] for such additional amounts to avoid any delay in the alterations being completed or the Government accepting the Space. (If the Lessor is paying for all alterations, delete the following Option 1 and Option 2. If the Lessor isn’t paying for all or a portion of the alterations, choose Option 1 or Option 2.)) (One-Time Reimbursement Payment) The Government shall reimburse the Lessor by a lump sum payment the cost of alterations completed at Government expense, in an amount not to exceed $[Insert Amount]. (note: also state lump sum amount in words) Such payment shall be made upon completion of the alterations and acceptance by the Government.

Initial Alterations. It is agreed that the Lessor shall complete alterations in accordance with Exhibit “A”, Floor Plan, and Exhibit “E”, Construction and Security Specifications, attached hereto and made a part hereof. Said alterations shall commence after Government execution of this Lease and Government has issued a notice to proceed (NTP). It is agreed by and between the parties hereto that upon the Government accepting the Space, ownership of all alterations to the property, both real and personal that are placed upon or added to the Premises by reason of this provision, shall be and will immediately become the property of the Government and may be removed from the Premises or abandoned in place by the Government. The total cost of alterations is in the amount of $[Insert Amount]. (note: also state lump sum amount in words) (Delete the following paragraph if the Lessor is not contributing any funds towards alterations) The Lessor has agreed to pay all of / a portion of [Select as appropriate] the cost of alterations in the amount of $[Insert Amount]. (note: also state lump sum amount in words) (note: Include the following sentence where Lessor is paying for all of the cost of alterations.) The parties hereby agree that if the cost of alterations exceeds the total amount listed herein, the Lessor shall promptly pay [the Government or the third party owed] owed for such additional amounts to avoid any delay in the alterations being completed or the Government accepting the Space. (If The Government shall reimburse the Lessor is paying for all alterationsby a lump sum payment the cost of alterations completed at Government expense, delete the following Option 1 and Option 2in an amount not to exceed $[Insert Amount]. If the Lessor isn’t paying for all or a portion (note: also state lump sum amount in words) Such payment shall be made upon completion of the alterations, choose Option 1 or Option 2alterations and acceptance by the Government.)

Initial Alterations. It is agreed that the Lessor shall complete alterations in accordance with Exhibit “A”, Floor Plan, and Exhibit “E”, Construction and Security Specifications, attached hereto and made a part hereof. Said alterations shall commence after Government execution of this Lease and Government has issued a notice to proceed (NTP). It is agreed by and between the parties hereto that upon the Government accepting the Space, ownership of all alterations to the property, both real and personal that are placed upon or added to the Premises by reason of this provision, shall be and will immediately become the property of the Government and may be removed from the Premises or abandoned in place by the Government. The total cost of alterations is in the amount of $[Insert Amount]. (note: also state lump sum amount in words) (Delete the following paragraph if the Lessor is not contributing any funds towards alterations) The Lessor has agreed to pay all of / a portion of [Select as appropriate] the cost of alterations in the amount of $[Insert Amount]. (note: also state lump sum amount in words) (note: Include the following sentence where Lessor is paying for all of the cost of alterations.) The parties hereby agree that if the cost of alterations exceeds the total amount listed herein, the Lessor shall promptly pay [the Government or the third party owed] for such additional amounts to avoid any delay in the alterations being completed or the Government accepting the Space. (If the Lessor is paying for all alterations, delete the following Option 1 and Option 2. If the Lessor isn’t paying for all or a portion of the alterations, choose Option 1 or Option 2.)OR

Initial Alterations. It is agreed that the Lessor shall complete alterations in accordance with Exhibit “A”, Floor Plan, and Exhibit “E”, Construction and Security Specifications, attached hereto and made a part hereof. Said alterations shall commence after Government execution of this Lease and Government has issued a notice to proceed (NTP). It is agreed by and between the parties hereto that upon the Government accepting the Space, ownership of all alterations to the property, both real and personal that are placed upon or added to the Premises by reason of this provision, shall be and will immediately become the property of the Government and may be removed from the Premises or abandoned in place by the Government. The total cost of alterations is in the amount of $$ [Insert Amount]. (note: also state lump sum amount in words) (Delete the following paragraph if the Lessor is not contributing any funds towards alterations) The Lessor has agreed to pay all of / a portion of [Select as appropriate] the cost of alterations in the amount of $$ [Insert Amount]. (note: also state lump sum amount in words) (note: Include the following sentence where Lessor is paying for all of the cost of alterations.) The parties hereby agree that if the cost of alterations exceeds the total amount listed herein, the Lessor shall promptly pay [the Government or the third party owed] for such additional amounts to avoid any delay in the alterations being completed or the Government accepting the Space. (If the Lessor is paying for all alterations, delete the following Option 1 and Option 2. If the Lessor isn’t paying for all or a portion of the alterations, choose Option 1 or Option 2.)) DRAFT (One-Time Reimbursement Payment) The Government shall reimburse the Lessor by a lump sum payment the cost of alterations completed at Government expense, in an amount not to exceed $[Insert Amount]. (note: also state lump sum amount in words) Such payment shall be made upon completion of the alterations and acceptance by the Government.