Common use of Payment for Public Improvements Clause in Contracts

Payment for Public Improvements. The City shall contract for the design, construction and installation of the Public Improvements, and shall be solely responsible for the supervision of such activities. The Developer shall have no liability whatsoever for the design and construction of the Public Improvements. Developer’s sole responsibility with respect to the Public Improvements shall be to pay or reimburse the City for all of the City’s costs and expenses incurred for the design, construction and installation of the Public Improvements. In order to protect the interests of the Developer in keeping the cost of the Public Improvements to reasonable amounts, the Developer shall have the right to review the plans to verify that they are consistent with Attachment 4. Further, if the total projected cost of the Public Improvements exceeds [[$2,200,000.00]] then City and Developer shall cooperate to jointly review and, if appropriate, revise the plans and specifications for the Public Improvements in an effort to identify available cost savings, so long as all applicable City codes and construction standards are satisfied. The City may ▇▇▇▇ the Developer periodically as costs and expenses for the Public Improvements are incurred. Developer shall make payments to the City for the costs of the Public Improvements within sixty (60) days following receipt of an invoice from the City for such work.

Payment for Public Improvements. The City shall contract for the design, construction and installation of the Public Improvements, and shall be solely responsible for the supervision of such activities. The Developer shall have no liability whatsoever for the design and construction of the Public Improvements. Developer’s sole responsibility with respect to the Public Improvements shall be to pay or reimburse the City for all of the City’s costs and expenses incurred for the design, construction and installation of the Public Improvements. In order to protect the interests of the Developer in keeping the cost of the Public Improvements to reasonable amounts, the Developer shall have the right to review the plans to verify that they are consistent with Attachment 4. Further, if the total projected cost of the Public Improvements exceeds [[$2,200,000.005[[$2,200,000,000.00]] then City and Developer shall cooperate to jointly review and, if appropriate, revise the plans and specifications for the Public Improvements in an effort to identify available cost savings, so long as all applicable City codes and construction standards are satisfied. The City may ▇▇▇▇ the Developer periodically as costs and expenses for the Public Improvements are incurred. Developer shall make payments to the City for the costs of the Public Improvements within sixty thirty (30sixty (60) days following receipt of an invoice from the City for such work.

Payment for Public Improvements. The City shall contract for the design, construction and installation of the Public Improvements, and shall be solely responsible for the supervision of such activities. The Developer shall have no liability whatsoever for the design and construction of the Public Improvements. Developer’s sole responsibility with respect to the Public Improvements shall be to pay or reimburse the City for all of the City’s costs and expenses incurred for the design, construction and installation of the Public Improvements. In order to protect the interests of the Developer in keeping the cost of the Public Improvements to reasonable amounts, the Developer shall have the right to review the plans to verify that they are consistent with Attachment 4. $ Further, if the total projected cost of the Public Improvements exceeds [[$2,200,000.00]] 5,000,000 then City and Developer shall cooperate to jointly review and, if appropriate, revise the plans and specifications for the Public Improvements in an effort to identify available cost savings, so long as all applicable City codes and construction standards are satisfied. The City may ▇▇▇▇ the Developer periodically as costs and expenses for the Public Improvements are incurred. Developer shall make payments to the City for the costs of the Public Improvements to the extent Developer has received payments of the Subsidy in an amount which exceeds the costs incurred by the City, in which case Developer shall pay such costs of the Public Improvements incurred within sixty thirty (6030) days following receipt of an invoice from the City for such work.