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~O?;rD.h Ons e S <br />Plan 1 - approximately 995 sq. ft. $ 85,000 <br />.Plan 2 - approximately 1246 sq. ft. $ 98,000 <br />Plan 3 - approzimately 1436 sq. ft. $110,400 <br />Plan 4 - approximately 1552 sq. ft. $114,000 <br /> <br />A minimum of fifteen (15) ~4ellings shall be constructed in <br /> <br />the first production phase of construction. <br /> <br /> Unit sales prices, as established at the time of the <br /> <br />first sales release, may be increased in subsequent releases <br />as a result of construction cost increases defined as <br />follows: Actual increases in the contract price of labor <br />and/or material, for all construction work, whether onsite <br />or offsite, undertaken by General Contractor and/or subcontractors, <br />including land preparation, grading, and all physical improvements, <br />and increases in the cost of obtaining governmental permits <br />for such construction which result in an aggregate increase in <br />the cost of constructing a unit to Developer,increased by a <br />factor of up to 1.5. Developer will provide City access to <br />such supplementalinformation respecting unit sales price, <br />costs, and cost increases as City may reasonably request, <br />provided all such information shall remain confidential and <br />shall not be disclosed by the City. <br /> <br />6. ~ortgage Financing. Developer agrees to provide among <br />others, a mortgage. financing program to buyers that will <br />allow buyers to qualify for loans under the program as if <br />the full loan interest rate were no more than 10-7/8%. <br /> <br />-7- <br /> <br /> <br />