Common use of Monetary Contributions Clause in Contracts

Monetary Contributions. (a) In respect of any part of the Development on Development Lots 104, 105, 203, 204, 205 and 206, and subject to clause 4.2, the Developer is to pay to the Council monetary Contributions in an amount equivalent to, and in the same manner as, any contributions that could have been required to be paid under s94 or s94A of the EP&A Act in respect of that part of the Development but for the operation of this Deed. (b) Except as provided in clause 3.3(c) and clause 4.2, any benefits provided by the Developer in accordance with this Deed are not to be taken into consideration in determining a development contribution under s94 or s94A of the EP&A Act. (c) The amount of S94 or S94A Equivalent Contributions that is required to be paid under this Deed is to be reduced in accordance with clause 4.2. (d) Any monetary Contributions payable under this clause 3.3 in respect of a Development Lot must be paid by the Developer to Council (by bank cheque) prior to the issue of a Construction Certificate for work on that Development Lot in Stage 2. Draft (e) In this Deed, a reference to the ‘Developer’ in respect of a right or obligation in relation to a S94 or S94A Equivalent Contribution is a reference to the owner from time to time of the Development Lot to which that right or obligation applies.