Professional Documents
Culture Documents
Development Mgt. Agr
Development Mgt. Agr
Explanatory Statement
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“Contingency Fee”) and shall not be due and payable until the Construction
Phase has been substantially completed. To the extent that there are any
cost overruns in the Construction Phase (as measured by the construction
expenses described on the Financial Forecast attached hereto as Exhibit A),
the Company may apply an amount up to the Contingency Fee towards such
cost overruns. In the event that the Construction Phase is completed on
budget, the Contingency Fee shall be paid to Manager upon the substantial
completion of the Construction Phase.
6. Indemnification.
6.1. The Company shall indemnify and hold Manager and all of its
officers, agents, representatives and employees harmless from and against
any claims, actions, damages, losses and expenses (including reasonable
attorney’s fees) of any kind whatsoever arising out of or in connection with
the Project and the Services performed by Manager hereunder, except the
Company shall not be liable under this clause if the liability shall arise by
reason of the gross negligence or intentional misconduct of Manager. The
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Company agrees that it will have Manager added as named insured on the
public liability policies by the Company contemplated to be managed and
developed hereunder.
6.2. Manager shall indemnify the Company and its officers, employees
and members from and against any claim against the foregoing, relating to
activities or actions of Manager (i) unrelated to the Project or (ii) related to
the Project and resulting from the gross negligence or intentional misconduct
of Manager.
IN WITNESS WHEREOF, the parties hereto have set their hands and
seals as of the day and year first above written.
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ATTEST: ________________________________________
(Company)
By:
(SEAL)
By:
(SEAL)