The Developer’s Obligations Clause Samples

The Developer’s Obligations. Developer agrees to provide a minimum of five (5) permanently affordable ownership units. The affordable ownership units will be deed- restricted, utilizing deed restrictions approved by the City, to secure permanent affordability and must be sold to households earning up to no more than 100% of the Area Median Income (AMI), as defined by the U.S. Department of Housing and Urban Development (HUD) or its successor. Developer must finance the costs of construction for the affordable housing units, which shall be comparable in construction quality and exterior design to the market rate units within the development. Developer will work with the City to ensure that the affordable units are dispersed throughout the Project. Each unit shall be priced a minimum of 20% less than the fair market value per square foot of comparable units, with qualifying buyers spending no more than 30% of monthly income on mortgage payments. The five units shall be two-bedroom units. The units shall be constructed and offered for sale within five (5) years from the date the property is sold.

The Developer’s Obligations. 3.1 The Developer shall use reasonable endeavours to negotiate and agree both the quantum of Developer Funding and the terms and conditions of the Developer Funding Agreement as soon as reasonably practicable after the satisfaction of the balance of the Overarching Conditions. 3.2 The Developer will send to the Council a copy of the term sheet for a proposed Developer Funding Agreement within ten working days of agreement of the same and will take due account of the Council's suggestions as to how finance might be obtained more cost effectively.

The Developer’s Obligations. 10.1 In consideration of the Facility Manager performing its obligations under this Agreement, the Developer agrees to: (a) provide information reasonably requested by the Facility Manager which is contained in manuals, registers or records owned or controlled by the Developer, subject to any confidentiality or other restrictions which exist; (b) use reasonable endeavours to provide the Facility Manager with reasonable access to the Building; (c) provide to the Facility Manager reasonable access to the Facility Manager's Room (or such other room within the Building as determined by the Developer in its absolute discretion) to enable and support the Facility Manager in providing the Services; and (d) use reasonable endeavours to ensure that the Developer’s Affiliates, employees, contractors and agents cooperate with the Facility Manager, but in each case only to the extent necessary to enable the Facility Manager to perform or procure the performance of the Services in accordance with this Agreement. 10.2 The Developer must appoint a representative, who is available during normal Business Days, with the authority to act for and on behalf of the Developer (subject to such reasonable restrictions as determined by the Developer), to coordinate, cooperate and provide information to the Facility Manager as required.

The Developer’s Obligations. 5.1 The Developer shall as soon as reasonably practicable after: compliance by Jumat with his obligations under Clause 4.2(a), pay the Rental for the whole duration of the Sublease in accordance with Clause 6; the execution, grant and delivery of the Power of Attorney referred to in Clause 4.2(c), undertake, carry out and complete the JV Residential Project Development including planning and developing a concept, determining suitable development mix, designing each component or phase within the JV Residential Project Development and other structures proposed to be erected on the Lot A Lands, obtaining all approvals from the Relevant Authorities, constructing all buildings, infrastructure and amenities in accordance with the approved plans and doing all matters necessary, incidental and in connection with the JV Residential Project Development. 5.2 All costs incurred in connection with the JV Residential Project Development shall be borne by the Developer

The Developer’s Obligations. The Developer acknowledges and agrees that the Guaranteed Capacity runs with the land and shall be an appurtenance to the Property. The Developer agrees to record this Agreement in the Real Property Records of Bexar County, Texas as quickly as practicable (but not more than fifteen (15) days from the Effective Date); otherwise, this Agreement will automatically terminate. Delivery to the City of a recorded copy of this Agreement shall serve as a condition precedent to any transfer of any portion of the Property or any portion of the Guaranteed Capacity in accordance with G.C.14.00. To the extent not reflected in the Plats from time to time submitted by the Developer to and accepted by the City pursuant to the Master Development Plan, the Developer shall maintain records of allocated and unallocated Water and Wastewater Capacity (by ▇▇▇) for use by the Development by developers thereof and therein and provide the City with copies of such records upon receipt of the City’s written request for the same.

The Developer’s Obligations. The Developer shall use reasonable endeavours to negotiate and agree both the quantum of Developer Funding and the terms and conditions of the Developer Funding Agreement as soon as reasonably practicable after the satisfaction of the balance of the Overarching Conditions. The Developer will send to the Council a copy of the term sheet for a proposed Developer Funding Agreement within ten working days of agreement of the same and will take due account of the Council's suggestions as to how finance might be obtained more cost effectively. The Developer shall enter into and exchange the Developer Funding Agreement as soon as reasonably practicable after the quantum of Developer Funding and the terms and conditions of the Developer Funding Agreement have been agreed pursuant to paragraph 3.1. The Developer will send to the Council a copy of the Developer Funding Agreement (redacted for commercially sensitive information (save that financial provisions will not be commercially sensitive)) promptly following completion of the same. The Developer shall ensure that any Developer funding obtained from a Connected Party will be provided on terms no less advantageous than it reasonably considers would be available in the open market for equivalent funding.

The Developer’s Obligations subject to a separate legal arrangement (a) In the event that the Developer’s rights to develop each Stage pursuant to the legal arrangements it has with The Corporation as at the date of this Agreement are terminated, then on and from the date of such termination, subject to any other arrangement made in writing between The Corporation and Council, The Corporation agrees to perform all the Developer’s obligations under this Agreement in accordance with this Agreement as if it were the Developer for the purposes of this Agreement, until such time as an alternative developer proposed by the Corporation has entered into a written agreement on terms acceptable to Council pursuant to which the proposed new developer is bound by this Agreement as the Developer. (b) Except where clause 4.8(a) has effect, Council acknowledges that The Corporation and the Developer each enter this Agreement solely on their own behalf, shall be solely severally liable for any breach and in no event shall The Corporation or the Developer be liable for any breach of this Agreement by the other party.

The Developer’s Obligations