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effect, arida prorated amount for any partial month during which this <br />Agreement is in effect, and an early termination fee equal to XX months fee <br />or $XX,XXX.XX. This $0360 000.00 compensation is hereinafter <br />referenced as the "Administrative Compensation ". <br />B. Incentive Based Development Compensation (Incentive Compensation) <br />In addition to the Administrative Compensation received for development <br />management services, Landform shall receive additional incentive -based <br />compensation (Incentive Compensation) for development management services <br />based upon success in advancing the development. <br />1. For the purposes of this Agreement, it is assumed that the disposition of <br />various land parcels may occur in any of three ways: Sale or Lease, Public - <br />Private Partnership (P3), or Owner Self- Developed. Landform shall solicit the <br />interest of various prospective end - users, to include individual entities, <br />corporations, developers, and /or development partners. Landform will <br />coordinate the efforts of all team members to provide a uniform front to the <br />development community, and assist in the evaluation, consideration, <br />negotiations, and deal structuring on any disposition of land within the <br />development area. Compensation under this section will be paid on all <br />transactions regardless of origin or referral source. Meeting update reports <br />documenting marketing progress shall be presented to the Owner on a <br />regular basis. <br />2. The Incentive Compensation shall be two percent (2.00 %) of the total capital <br />cost of the end use of the parcel or property sold or developed (the <br />"Development('s) Capital Cost(s) "). The Development's Capital Cost shall be <br />the total of the following items a. -d.: <br />a. The net land sale price paid to Owner plus; <br />b. The proforma building value as presented by Landform, except <br />that said value shall not exceed the then current Minnesota <br />Department of Labor and Industry's Building Valuation Data by <br />more than 25% plus; <br />c. The Site improvement's costs plus; <br />d. The development soft costs such as engineering, planning <br />architecture, legal fees, any marketable title issues, realtor <br />commissions, finance expenses and special inspections. In no <br />event shall the development soft costs exceed 20% of the total of <br />items a. through c. above. <br />The total dollar amount of items a. -d. above is the Development's Capital <br />Cost which is the basis for the Incentive Compensation. However, the parties <br />agree that during the term of this Agreement, unique development scenarios <br />may be presented which will require modification of the Incentive <br />Compensation terms. With that understanding the parties agree to negotiate <br />as necessary modified terms in relation to the Incentive Compensation. <br />3. The Incentive Compensation will be payable at the following stages of a <br />specific development: <br />1 Ramsey -2011 DM Agreement 1 9 2010 7 <br />