CIL definition
Examples of CIL in a sentence
If payment is not made in full by the Due Date, Developer shall pay an additional late charge equal to ten percent (10%) of the CIL amount.
The required surety amount, as reflected by the cost estimates of Exhibits B and C and inclusive of the CIL eligible Improvements, may be reduced by the CIL payment amount actually received exclusive of any interest and late charges.
Notwithstanding Article IV herein, under no circumstances shall Initial Acceptance of Improvements not subject to CIL occur where a CIL payment remains outstanding, including any interest or late charges, in whole or in part, and regardless of whether such amount is in dispute.
In the event a court of competent jurisdiction were to set aside the prohibition on assignment, transfer, of conveyance of said Improvements as set for the herein, or any of the obligations or responsibilities associated therewith, then upon such a ruling, the actual and current costs of the assigned, transferred or conveyed Improvements or CIL payment obligation, plus a twenty percent (20%), plus an administrative feecosts not to exceed $500.00, shall become immediately due and payable to the City.
No Improvements, as defined herein, nor any obligations or responsibilities of the Developer associated therewith, including any obligation or option to pay cash in lieu of any Improvements, shall be assigned, transferred, or conveyed to a Residential Metropolitan District, either directly or indirectly, unless the specified Improvements or CIL payment are expressly identified and included in an existing and previously approved metropolitan district service plan.