Eligible Costs

Eligible Costs. Means, as applicable, the expenses of improving the Property as set forth in the Budget, including, without limitation: interest payments on the Loan, draw fees, development and construction costs, recording fees, closing and sale costs, and any other costs that Lender may approve in its sole discretion.

Eligible Costs. Means, as applicable, the expenses of acquiring, developing, and/or constructing the Project as set forth in the Budget, including to the extent applicable to the Loan, without limitation: loan origination fees, extension fees, interest payments on the Loan, draw fees, inspection fees, acquisition or refinance costs, development and construction costs, recording fees, closing and sale costs, and any other costs that Lender may approve in its sole discretion.