Final Development Budget definition
Examples of Final Development Budget in a sentence
Other than the Development Fee, Developer shall be entitled to no compensation under this Agreement, nor will Developer be entitled to any reimbursement of expenses except as expressly set forth in this Agreement or the Final Development Budget.
Developer shall use commercially reasonable efforts to cause the General Contractor to comply with the Final Development Plan, Final Development Budget and Final Project Schedule.
All expenditures shall be charged to the proper account as specified in the Final Development Budget and no expenditure may be classified or reclassified for the purpose of avoiding an excess of the budgeted amount of an accounting category without the written consent of Owner (which consent shall not be unreasonably withheld).
If such costs, fees and/or expenses are not set forth in the Final Development Budget or exceed the line item(s) established in the Final Development Budget for such costs, fees and/or expenses, such additional architect and the fees, costs and expenses related thereto shall be subject to Owner’s prior written approval (such approval not to be unreasonably withheld or delayed).
Owner hereby appoints Developer as its independent contractor to perform the Project, and delegates to Developer the right and obligation to supervise, manage and carry out the Project, on behalf and for the account of Owner, upon the terms and conditions set forth in this Agreement and in accordance with the Final Development Plan, Final Development Budget and Final Project Schedule (as each such term is defined below) and all items related thereto.
Nothing in this Section 2.4 shall be construed to limit the right of Developer (or any affiliate or shareholder of Developer) to be reimbursed for costs and expenses incurred by Developer (or its affiliates or shareholders) prior to the date of this Agreement that are set forth in the Final Development Budget approved by Owner.
Architect may engage an outside architectural firm to produce construction drawings for the Project, so long as the costs, fees and other expenses of such additional architectural firm are set forth in the Final Development Budget.
Developer shall not be entitled to payment for or reimbursement of any costs or expenses incurred in the performance of the services under Article 1 or otherwise in connection with the Project, except as expressly set forth in this Agreement and the Final Development Budget.
Developer will not subcontract any of its services to any other entity or person without first obtaining Owner’s prior written consent; provided, however, that Developer may retain such Consultants (as hereinafter defined) as are contemplated in this Agreement without Owner’s consent so long as the fees or other charges of such Consultants are set forth in the Final Development Budget.
Subject to the other provisions of this Agreement, Developer, on behalf of Owner, shall manage and coordinate the development of the Project in accordance with the Final Development Plan, Final Development Budget and Final Project Schedule (as each such term is defined below) in a good and workmanlike manner and in accordance with the standards of professional care applicable to such services.