Village Impact Fee Sample Clauses

Village Impact Fee. Owner shall be responsible for payment of the “Village Impact Fee” associated with the development of the Territory as contemplated in this Agreement. The Village Impact Fee is inclusive of the Xxxxxxx County Transportation Impact Fee and Owner’s payment of the Village Impact Fee shall satisfy Owner’s obligation with respect thereto. The Village Impact Fee is, pursuant to Village Code, paid pro-rata and is due and owing at issuance of a building permit for each dwelling unit. Owner hereby agrees to pay the entire Village Impact Fee due and owing for the contemplated development of the Territory in a single lump sum payment within 30 days of the date this Agreement is recorded. In light of the time value of money and the certainty provided to the Village by a lump sum payment within thirty (30) days of the recording date, and in acknowledgement of the hybrid nature of this unique single-family detached rental development under single ownership, the Village Impact Fee shall be calculated on the basis of $6,407.50 for a one-bedroom or a two-bedroom dwelling unit and $11,650.00 for a three-bedroom or a four-bedroom dwelling unit. If the Owner fails to pay the Village Impact Fee within 30 days of the recording date of this Agreement, the Village Impact Fee shall be calculated on the basis of $11,650.00 per dwelling unit regardless of the number of bedrooms. The Village Impact Fee is payable only for residential dwelling units so no Village Impact Fee shall be payable with respect to the clubhouse building or the maintenance building as contemplated in the PUD Plan.
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