NYC 9/11 Public Portal Document
Landlord withirrthree (3) business days after-fcandiord's midition of such estimate. If the Work
Cost shall exceed Landlord’s Maximum Contribution, any amount up to a maximum of
(the “Cap^ $ "Landlord’s Contribution"). The
Work Cost in excess of Landlord’s Contribution will be paid by Tenant. If the Woric (Cost
exceeds the Cap The parties acknowled^ ^t the Arc^^’s Deve^ment PMignj^t^e^^^^^^j^.
dated December 26.1997 expresses a Work C^ of Work Cost
(including Landlord’s Contribution) exceeds $ PH Tenant shall promptly meet
with Landlord to resolve the overage. Payment bv Tenant of such cost, but the preceding shall
not affect Tenant’s responsibility for payment of the Work Cost in excess of Landlord’s
Maxtmttm Contribution. Pa by Tenant of the Work Cost in excess of Landlord’s
(Contribution shall be made within 45 days after as follows; (i) within 60 days following
approval of the bids of all trades necessary for Substantial Completion of Tenants Initial Work
and receipt of an invoice from Landtordr (OPEN -PROGRESS PAY-MEN-TSHFOR-€)VERAGE]
Any payment by Tenant after said 45 days shall be made together with interest-at-2TX>ints over
$ 3^ ooe .do, (ii) within 120 days following approval of the bids of all trades
necessary for Substantial (Completion to date(s) of payment of the Demised Premises, Tenant
shall pay to Landlord the sum of $ 3*, dip«* • . In Substantial
Completion, Tenant shall pay to Landlord the Balance of the Work Cost in excess of
(/7
Landlord’s Contribution. Said payment by Tenant^w^ Substantial Completion may exclude
the undisputed value of punch list items^ which amount shall be paid promptly by Tenant after
conviction by Landlord. Any late payment by Tenant after said stated dates shall be made
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NYC-WTC_000167050
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