Developer Deposit Sample Clauses
The Developer Deposit clause requires the developer to provide a specified sum of money as a security deposit at the outset of a project or agreement. This deposit is typically held by the other party or in escrow and may be used to cover damages, non-performance, or other breaches of contract by the developer. By requiring this upfront payment, the clause ensures that the developer has a financial stake in fulfilling their obligations, thereby reducing the risk of non-completion or default for the other party.
Developer Deposit. The City will provide Developer with an itemized monthly invoice for Processing Costs, including staff time and invoices from contracted consultants, if any, commencing on the fifth day of the month following the first month during which the City incurs Processing Costs. Developer shall pay the City’s invoice on or before the 20th day (or fifteen days after mailing of the invoice by the City, whichever is later), subject to the provisions of the Memorandum of Understanding paragraph 2.6, together with any additional amounts required to maintain the required credit balance as required by Memorandum of Understanding paragraph 2.
Developer Deposit. The City will provide Developer with an itemized monthly invoice for Processing Costs, including staff time and invoices from contracted consultants, if any, commencing on the fifth day of the month following the first month during which the City incurs
Developer Deposit. As of the Effective Date, Developer has deposited with the WTCPUA the sum of $5,000.00 (“Developer Deposit”), which shall be used to pay the WTCPUA's charges and fees as provided in Sections 5.14 through 5.17 of the WTCPUA Rules and Policies with respect to the extension of service to the Proposed Development. To the extent such charges and fees incurred for the Proposed Development exceed or are projected to exceed the amount of the Developer Deposit as specified above, the WTCPUA shall invoice Developer for such additional amounts and payment by Developer shall be due upon its receipt of such invoice. Delay by Developer in paying an invoice when due shall delay WTCPUA review and acceptance of any facility relating to the Proposed Development, including the Developer Facilities and the commencement of service to the Proposed Development. Any funds remaining in the Developer Deposit not used by the WTCPUA shall be reimbursed to Developer upon the commencement of service in accordance with Article IV.
Developer Deposit. The Developer shall deposit with the City upon execution of this Agreement the amount of the City’s initial estimate of certain fees, costs and charges associated with this Agreement. Should the actual amount of these fees, costs or charges exceed the amount deposited, the City may, at the end on the month in which the fees, costs and charges exceed the deposit, provide an updated written estimate to the Developer. Within fifteen (15) days of receiving the new estimate, the Developer shall deposit with the City an amount equal to the difference between the City’s new estimate and the amount previously deposited by the Developer. Deposits not made within fifteen (15) days shall bear interest at 12% per month or portion thereof until paid. No Extension shall be connected to the City’s systems until all fees, charges, and other costs due under this Agreement are paid in full by the Developer. The City’s initial estimate for the fees, costs and charges is set forth below. The Developer shall deposit the total amount indicated upon execution of this Agreement: 1. Administrative Deposit $ 500.00 (Estimate) 2. Remaining Engineering Services $ 25,000.00 (Estimate) 3. Construction Inspection $ 110,000.00 (Estimate) 4. Legal Services Deposit $ 2,000.00 (Estimate) 5. Final Plat Processing $ 15,000.00 (Estimate) 6. Construction Cash Deposit $ 0.00 7. Other Costs $ 0.00 TOTAL DEPOSIT $ 152,500.00
Developer Deposit. On The Date Hereof, The Developer Has Delivered to The City (Cashier’s Check) in The Amount of $ Dollars, Which Amount the City Shall Promptly Deposit in The Deposit Account. Remitter’s Name to be on the Cashier’s Check.
Developer Deposit. Developer shall deposit with the City upon execution of this Agreement the amount of the City’s initial estimate of certain fees, costs and charges associated with this Agreement. Should the actual amount of these fees, costs or charges exceed the amount deposited, the City shall, at the end on the month in which the fees, costs and charges exceed the deposit, provide an updated written estimate to the Developer. Within fifteen (15) days of receiving the new estimate, Developer shall deposit with the City an amount equal to the difference between the City’s new estimate and the amount previously deposited by Developer. Deposits not made within fifteen (15) days shall bear interest at 12% per month or portion thereof until paid. No Extension shall be connected to the City’s systems until all fees, charges, and other costs due under this Agreement are paid in full by the Developer. The City’s initial estimate for the fees, costs and charges is set forth below. Developer shall deposit the total amount indicated upon execution of this Agreement:
1. Administrative $ 500.00 (Estimate) 2. Remaining Engineering Services $ 10,000.00 (Estimate) 3. Construction Inspection $ 44,400.00 (Estimate) 4. Legal Services $ 2,000.00 (Estimate)
Developer Deposit. Upon such termination of this Agreement pursuant to Section 11.02(1), the Parties will divide the Developer Deposit so that one-half (1/2) of the Developer Deposit is retained by the Developer, and one-half (1/2) of the Developer Deposit is retained by the City.
Developer Deposit. District agrees to include in the RFQ a requirement that the developer concurrently with the execution of the ENRA by Developer submit to Agency a good faith non- refundable deposit (“Deposit”) in the amount of Twenty-Five Thousand Dollars ($25,000). The Deposit shall be in the form of cash and shall be paid by Developer to Agency on or before the effective date of said agreement. Agency shall put the Deposit in an interest bearing account and such interest, when received by Agency, shall become part of the Deposit. If performance of the ENRA results in execution of a definitive agreement, as described in the ENRA. Developer shall provide Agency an additional Seventy- Five Thousand Dollars ($75,000) to increase the total Deposit to One-Hundred Thousand Dollars ($100,000). All funds constituting the Deposit shall be retained by Agency.
Developer Deposit. The Developer shall deposit the Developer Deposit with Escrow Holder. Within ten (10) business days after the City’s and WRSA execution and delivery of the DDA.
Developer Deposit. Developer shall deposit with the City upon execution of this Agreement the amount of the City’s initial estimate of certain fees, costs and charges associated with this Agreement. Should the actual amount of these fees, costs or charges exceed the amount deposited, the City shall, at the end on the month in which the fees, costs and charges exceed the deposit, provide an updated written estimate to the Developer. Within fifteen