Common use of Pre-Development Costs Clause in Contracts

Pre-Development Costs. Except as otherwise specifically identified as a responsibility of HPTE or BE in this Section III, CDOT shall be primarily responsible for the performance of and payment of costs associated with preliminary design, environmental approvals, acquisition of right of way, managing the procurement of the Project in coordination with the Enterprises, and certain other pre-development activities associated with the Project (together the “Pre-Development Costs”). In consideration of the benefit of CDOT’s participation in the design and construction of the Project pursuant to Section III.14, BE has agreed to initially fund a portion of the Pre-Development Costs for the Project, provided that such contribution by BE shall not exceed $142,309,333. CDOT agrees and acknowledges that BE’s $142,309,333 contribution shall be in full satisfaction of any obligations the Enterprises might have with respect to funding of Pre-Development Costs of the Project. If Pre-Development Costs for the Project exceed CDOT’s estimate of$171,045,502, CDOT, and not the Enterprises, shall be solely responsible for identifying and obtaining additional funding sources to cover any shortfalls.

Pre-Development Costs. Except as otherwise specifically identified as a responsibility of HPTE or BE in this Section III, CDOT shall be primarily responsible for the performance of and payment of costs associated with preliminary design, environmental approvals, acquisition of right of way, managing the procurement of the Project in coordination with the Enterprises, and certain other pre-development activities associated with the Project (together the “Pre-Development Costs”). In consideration of the benefit of CDOT’s participation in the design and construction of the Project pursuant to Section III.14, BE has agreed to initially fund a portion of the Pre-Development Costs for the Project, provided that such contribution by BE shall not exceed $142,309,333172,309,333. CDOT agrees and acknowledges that BE’s $142,309,333 172,309,333 contribution shall be in full satisfaction of any obligations the Enterprises might have with respect to funding of Pre-Pre- Development Costs of the Project, with any amount in excess thereof being paid by CDOT. If Pre-Development Costs for the Project exceed CDOT’s estimate of$171,045,502estimated contribution of $171,045,502, CDOT, and not the Enterprises, shall be solely responsible for identifying and obtaining additional funding sources to cover any shortfalls.