Cost of Trail Extension Clause Samples

Cost of Trail Extension. McCordsville and Pulte acknowledge and agree that, consistent with the Construction Agreement, Pulte shall incur the cost to construct the trail extension in accordance with the specifications set forth in the approved construction plans for such trail extension. The trail extension shall be 10 feet wide and consist of asphalt 3 inches +/- inches on top of a rock base of 6 inches +/- in depth. Upon completion and acceptance by McCordsville, the trail extension will be dedicated to McCordsville and McCordsville will be responsible for the repair and maintenance of the trail extension after completion, acceptance and dedication.
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Cost of Trail Extension. McCordsville and Lennar acknowledge and agree that, Lennar shall pa y t h e T r a i l E xt e ns i o n C os t s to construct the T rail E xtension in accordance with the specifications set forth in the Construction Plan. The Trail Extension shall be 8 feet wide and consist of asphalt 3 inches +/- in depth on top of a rock base of 6 inches +/- in depth. Upon completion and acceptance by McCordsville, the Trail Extension will be dedicated to McCordsville and McCordsville will be responsible for the repair and maintenance of the Trail Extension after completion, acceptance and dedication. Upon the acceptance and dedication of the Trail Extension, McCordsville shall issue to Lennar for the Development a Recreation Impact Fee credit in the amount of the Trail Extensions Costs.
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Related to Cost of Trail Extension

  • Renewal, Extension The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Lease Extension If this Lease shall not have been terminated --------------- pursuant to any provisions hereof and there is no Material Breach (as defined herein) by Tenant hereunder at the time set for exercise of the Extension Terms (as herein defined) and at the time set for commencement thereof, then Tenant may, at Tenant's option, extend the term of this Lease for five (5) successive additional terms of four (4) years each (each an "Extension Term," collectively the "Extension Terms") commencing on the expiration of the original term, or the immediately preceding Extension Term, as the case may be. Tenant may exercise such option by giving Landlord written notice at least ten (10) months prior to the expiration of the original or the immediately preceding Extension Term, as the case may be. Upon the giving by Tenant to Landlord of such written notice and the compliance by Tenant with the foregoing provisions of this Paragraph 15, this Lease shall be deemed to be automatically extended upon all the Covenants, agreements, terms, provisions and conditions set forth in this Lease, except that Base Rent for each such Extension Term shall be as provided on Exhibit D. If Tenant fails or omits to so give to Landlord the written notice referred to above, Landlord shall provide Tenant with written notice of Tenant's failure to exercise the Extension Term, and upon receipt of such notice, Tenant shall be allowed fifteen (15) days to exercise the extension option allowed for herein. If Landlord fails to provide such notice, Tenant's renewal option shall expire upon the expiration of the then current term. Failure to respond to Landlord's notice within such fifteen (15) days shall be deemed to be a waiver by Tenant of its extension option hereunder.

  • Term of Contract; Contract Extension The Contract will be in effect from the Effective Date (15 December 2016) through 31 December 2018. DAS, in its sole discretion, may extend this Contract for additional terms beyond the original term, prior to Termination or expiration, one or more times for a combined total period not to exceed the complete length of the original term.

  • Contract Extension The Contract is extended for a period of six (6) months pursuant to the same terms and conditions of the contract and any executed written amendments, with a new Contract expiration date of May 31, 2025.

  • Extension Term The Term of this Lease of all of the Premises may be extended for the Extension Term by unconditional written notice from Tenant to Landlord at least twelve (12) (but not more than fifteen (15)) months before the end of the Initial Term, time being of the essence. If Tenant does not timely exercise this option, or if on the date of such notice or at the beginning of the Extension Term (i) an Event of Default by Tenant exists, or (ii) Tenant is not leasing sixty percent (60%) or more of the Premises, or (iii) Tenant has made any Transfer under Article 13 (other than a Related Party Transfer), at Landlord’s option upon written notice to Tenant, Tenant’s right to extend the Term of this Lease shall irrevocably lapse and be void and of no further force and effect, Tenant shall have no further right to extend, and this Lease shall expire at the end of the Initial Term. If Tenant fails to timely exercise its rights hereunder, then within seven (7) days of Landlord’s request therefor, Tenant shall execute and deliver to Landlord a certification, in recordable form, confirming the Tenant’s failure to exercise (or waiver of) such right, and Tenant’s failure to so execute and deliver such certification shall (without limiting Landlord’s remedies on account thereof) entitle Landlord to execute and deliver to any third party, and record, an affidavit confirming the failure or waiver, which affidavit shall be binding on Tenant and may be conclusively relied on by third parties. All references to the Term shall mean the Initial Term as it may be extended by the Extension Term. The Extension Term shall be on all the same terms and conditions except that the Base Rent for the Extension Term shall be as set forth below.