Cost Overrun. Should the total of the Authorized Improvements Cost exceed the maximum PID Bond Proceeds deposited in the IAPF (“Cost Overrun”), Developer shall be solely responsible to fund such part of the Cost Overrun, subject to the cost-underrun in subsection (d) below. An individual line item exceeding its estimated cost shall not be construed as a Cost Overrun; rather, the Authorized Improvements Cost for each phase shall be viewed in its entirety.
Appears in 2 contracts
Sources: Development Agreement, Development Agreement
Cost Overrun. Should the total of the Authorized Improvements Cost exceed the maximum PID Bond Proceeds deposited in the IAPF (“Cost Overrun”), Developer shall be solely responsible to fund such part of the Cost Overrun, subject to the cost-underrun in subsection (d) below. An individual line item exceeding its estimated cost shall not be construed as a Cost Overrun; rather, the Authorized Improvements Cost for each phase shall be viewed in its entirety.
Appears in 1 contract
Sources: Development Agreement