Capital Improvement Costs : means the costs of any Property Strategic Capital Improvements made to each Portfolio Property whether paid for by the Landlord or paid for by Elder Care Co and reimbursed by the Landlord (but excluding tenant’s improvements), including (i) all consent fees and other costs imposed by any governmental or local authority, the cost of site preparation, the cost of construction including materials and labour, the cost of supervision and related design, engineering, architectural and other professional services, the cost of any fixtures, and if and to the extent approved by the Landlord, the cost of construction financing (ii) the cost of any land contiguous to each Portfolio Property which is to become a part of each Portfolio Property purchased for the purpose of placing thereon the Capital Improvement or any part thereof or for providing means of access thereto, or parking facilities therefor, including the cost of surveying the same (iii) the cost of insurance, water and sewerage charges and other utility charges for such Capital Improvement during construction and (iv) reasonable legal and surveying fees and expenses.
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