Common use of Cost Variations Clause in Contracts

Cost Variations. In the event the actual construction costs vary from the amount of the Loan, the parties agree that actual costs will be paid by the Borrower. The City is not obligated to advance funds in excess of the amount of the Loan as set out in paragraph 1 herein.

Cost Variations. In the event the actual construction costs vary from the amount of the Loanabove construction costs estimates, the parties agree that actual costs will be paid by the Borrowerdeveloper. The City is not obligated to advance funds in excess of the amount of the Loan loan as set out in paragraph 1 herein.