Iowa Hill Annual Payments Upon Notice of Commencement of Construction. Within ten (10) days after awarding the first construction contract for the actual construction of the Iowa Hill Development, SMUD will give the County a “Notice of Commencement of Construction” and will make an initial Iowa Hill Annual Payment to the County in the amount of $50,000. SMUD will make additional Iowa Hill Annual Payments of $50,000 by July 1st of each subsequent calendar year for the Term of this Agreement.
Appears in 3 contracts
Sources: Cooperation Agreement, Cooperation Agreement, Cooperation Agreement