Common use of Additional Sums to be Paid Clause in Contracts

Additional Sums to be Paid. In addition to the Total Purchase Price set forth above, (a) a Project start-up fee (being a non-refundable, non-transferable "start-up" fee for the Association) in an amount equivalent to two (2) months' estimated maintenance fees for the Unit; (b) two (2) month's estimated maintenance fees for the Unit as an advance payment for the initial two (2) months' maintenance fees payable by an Owner; (c) an amount equivalent to two (2) months' estimated maintenance fees to be applied to the Association's purchase of the Resident Manager's Apartment; and (d) all estimated Closing Costs and Prorations as set forth in Section E.11 below, shall be payable by Purchaser to Escrow on the earlier of (i) the Pre-Closing Date as instructed in Seller's Pre-Closing Notice pursuant to Section E.8 of the "General Terms and Conditions" below, or (ii) four (4) business days prior to the Closing Date. If Purchaser has pre-closed and Escrow determines, prior to the Closing Date, that additional amounts are due to fully pay all Closing Costs and Prorations, then, and in such event, Purchaser shall pay the additional amounts to Escrow within five (5) business days of Purchaser's receipt of such notice from Escrow. If any excess amounts are prepaid by Purchaser with respect to Closing Costs and Prorations, then such excess amounts shall be refunded to Purchaser by Escrow within a reasonable period of time after the Closing Date. For purposes of this Purchase Agreement, the Project start-up fee is not an advance payment of future maintenance fee assessments but rather is intended to and shall be used to fund and pay for all costs and expenses typically associated with the opening of a new residential building, including by way of example and not limitation, office furniture and equipment for Managing Agent (including computer(s) and software programs), initial maintenance supplies and equipment for the Project, artwork and appliances for the Common Elements, communications equipment for Association staff, secured entry fobs or cards, and the initial premiums for the Project insurance. Seller shall have the right to use the Project start-up fees to pay for these costs and expenses and/or to be reimbursed for the cost of the same if previously purchased and paid for by Seller. Any surplus funds shall be deposited with the Association.

Additional Sums to be Paid. In addition to the Total Purchase Price set forth above, (a) a Project start-up start‐up fee (being a non-refundablenon‐refundable, non-transferable non‐transferable "start-upstart‐up" fee for the Association) in an amount equivalent to two (2) months' ’ estimated maintenance fees for the Unit; (b) two one (21) month's ’s estimated maintenance fees for the Unit as an advance payment for the initial two (2) months' month’s maintenance fees payable by an a Unit Owner; and (c) an amount equivalent to two (2) months' estimated maintenance fees to be applied to the Association's purchase of the Resident Manager's Apartment; and (d) all estimated Closing Costs closing costs and Prorations prorations payable by Purchaser, as set forth in Section E.11 belowestimated by ▇▇▇▇▇▇, shall be payable by Purchaser to Escrow on the earlier of (i) the Pre-Closing Pre‐Closing Date as instructed in Seller's Pre-Closing ’s Pre‐Closing Notice pursuant to Section E.8 of the "General Terms and Conditions" below, or (ii) four (4) business days prior to the Closing Date. If Purchaser has pre-closed and Escrow determinespre‐closed and, thereafter, but prior to the Closing Date, Escrow determines that additional amounts are due to fully pay all Closing Costs such closing costs and Prorationsprorations, then, and in such event, Purchaser shall pay the additional amounts to Escrow within five (5) business days of Purchaser's ’s receipt of such notice from Escrow. If any excess amounts are prepaid by Purchaser with respect to Closing Costs closing costs and Prorationsprorations, then such excess amounts shall be refunded to Purchaser by Escrow within a reasonable period of time after the Closing Date. For purposes of this Purchase Agreement, the Project start-up start‐up fee is not an advance payment of future maintenance fee assessments assessments, but rather is intended to and shall be used to fund and pay for all costs and expenses typically associated with the opening of a new residential building, including including, by way of example and not limitation, office furniture and equipment for the Managing Agent (including computer(s) and software programs), initial maintenance supplies and equipment for the Project, artwork and appliances for the Common Elements, communications equipment for Association staff, secured entry fobs or cards, and the initial premiums for the Project insurance. Seller shall have the right to use the Project start-up start‐up fees to pay for these costs and expenses and/or to be reimbursed for the cost of the same if previously purchased and paid for by Seller. Any surplus funds shall be deposited with the Association.

Additional Sums to be Paid. In addition to the Total Purchase Price set forth above, (a) a Project start-up start‐up fee (being a non-refundablenon‐refundable, non-transferable non‐transferable "start-upstart‐up" fee for the Association) in an amount equivalent to two (2) months' ’ estimated maintenance fees for the Unit; (b) two one (21) month's ’s estimated maintenance fees for the Unit as an advance payment for the initial two (2) months' month’s maintenance fees payable by an a Unit Owner; and (c) an amount equivalent to two (2) months' estimated maintenance fees to be applied to the Association's purchase of the Resident Manager's Apartment; and (d) all estimated Closing Costs closing costs and Prorations prorations payable by Purchaser, as set forth in Section E.11 belowestimated by ▇▇▇▇▇▇, shall be payable by Purchaser to Escrow on the earlier of (i) the Pre-Closing Pre‐Closing Date as instructed in Seller's Pre-Closing ’s Pre‐Closing Notice pursuant to Section E.8 of the "General Terms and Conditions" below, or (ii) four (4) business days prior to the Closing Date. If Purchaser has pre-closed and Escrow determinespre‐closed and, thereafter, but prior to the Closing Date, Escrow determines that additional amounts are due to fully pay all Closing Costs such closing costs and Prorationsprorations, then, and in such event, Purchaser shall pay the additional amounts to Escrow within five (5) business days of Purchaser's ’s receipt of such notice from Escrow. If any excess amounts are prepaid by Purchaser with respect to Closing Costs closing costs and Prorationsprorations, then such excess amounts shall be refunded to Purchaser by Escrow within a reasonable period of time after the Closing Date. For purposes of this Purchase Agreement, the Project start-up start‐up fee is not an advance payment of future maintenance fee assessments assessments, but rather is intended to and shall be used to fund and pay for all costs and expenses typically associated with the opening of a new residential building, including including, by way of example and not limitation, office furniture and equipment for the Managing Agent (including computer(s) and Developer pre‐paid software programsprograms and subscriptions procured for the operation and management of the association), initial maintenance supplies and equipment for the Project, association employee payroll, capital expenditures and reserves, pool equipment, furnishings, artwork and appliances decoration for the Recreational Amenities and other Common Elements, communications equipment for Association staff, secured entry fobs or cards, and the initial premiums for the Project insurance. Seller shall have the right to use the Project start-up start‐up fees to pay for these costs and expenses and/or to be reimbursed for the cost of the same if previously purchased and paid for by Seller. Any surplus funds shall be deposited with the Association.