Common use of Total Project Costs Clause in Contracts

Total Project Costs. Pursuant to the completion of the Predevelopment Work, the Predevelopment Phase Work and the Determination Phase Work, but prior to the closing of the Development Loan, the Developer and the Design Builder shall agree on all of the direct and indirect costs associated with the development, design, financing, construction and turn-over of each applicable Phase, including, without limitation, the Total Predevelopment Costs, the Financing Costs and the Building Construction Costs of each Phase (the “Total Project Costs”). The Total Project Costs shall not include (a) except to the extent specifically included in the definition of Building Construction Costs, the cost of any off- site improvements other than those referenced in the Business Plan and the Amended Business Plan, or (b) the fees to be paid to or other costs and expenses payable to the Owner’s Authorized Representative or any other consultants or professionals hired by the Owner to assist it with the evaluation of the Project and entering into documentation with respect thereto. In order to evidence the acceptance of the Total Project Costs, each of the Developer and the Design Builder shall execute and deliver the Total Project Costs Letter, substantially in the form attached to this Agreement as Exhibit J.