Common use of Record of Predevelopment Work Costs Clause in Contracts

Record of Predevelopment Work Costs. The Developer shall maintain a record of all Predevelopment Work costs, including all invoices and receipts evidencing such Predevelopment Work for inspection by the Owner upon reasonable notice and during normal business hours at the Design Builder’s office in Tucson, Arizona. At the end of each calendar month during the Predevelopment Period, the Developer shall deliver to the Owner a detail of all costs incurred for the Predevelopment Work during such immediately preceding calendar month (whether in the Predevelopment Phase or the Determination Phase), including copies of all invoices and receipts therefore (in addition to statements produced by the Developer evidencing the amount of financing utilized, and interest accrued thereon, by the Developer in engaging in the Predevelopment Work) (each a “Monthly Predevelopment Expense Report”). Each Monthly Predevelopment Report shall also set forth the aggregate amount of Predevelopment Work costs incurred and reported by the Developer in each prior Monthly Predevelopment Expense Report and in the current Monthly Predevelopment Expense Report (the “Total Predevelopment Costs”).

Record of Predevelopment Work Costs. The Developer shall maintain a record of all Predevelopment Work costscosts for each Development Phase, including all invoices and receipts evidencing such Predevelopment Work for inspection by the Owner upon reasonable notice and during normal business hours at the Design BuilderBuilder’sDeveloper’s office in Tucson, Arizona. At the end of each calendar month during the Predevelopment Period, the Developer shall deliver to the Owner a detail of all costs incurred for the Predevelopment Work during such immediately preceding calendar month (whether in the Predevelopment Phase or the Determination Phase), including copies of all invoices and receipts therefore (in addition to statements produced by the Developer evidencing the amount of financing utilized, and interest accrued thereon, by the Developer in engaging in the Predevelopment Work) (each a “Monthly Predevelopment Expense Report”). Each Monthly Predevelopment Report shall also set forth the aggregate amount of Predevelopment Work costs incurred and reported by the Developer in each prior Monthly Predevelopment Expense Report and in the current Monthly Predevelopment Expense Report (the “Total Predevelopment Costs”).