Assignment of Plans and Specifications. As additional security for the Loan, Borrower hereby collaterally transfers and assigns to Lender all of Borrower’s right, title and interest in and to the Plans and Specifications and hereby represents and warrants to and agrees with Lender as follows:
(a) Each schedule of the Plans and Specifications for the Improvements delivered or to be delivered to Lender is and shall be a complete and accurate description of such Plans and Specifications.
(b) The Plans and Specifications for the Improvements are and shall be complete and adequate for the construction of the Improvements and there have been no modifications thereof except as described in such schedule. The Plans and Specifications shall not be modified without the prior consent of Lender.
(c) Lender may use the Plans and Specifications for the Improvements for any purpose relating to the Improvements, including but not limited to inspections of construction and the completion of the Improvements.
(d) Lender’s acceptance of this assignment shall not constitute approval of the Plans and Specifications by Lender. Lender has no liability or obligation in connection with the Plans and Specifications and no responsibility for the adequacy thereof or for the construction of the Improvements contemplated by the Plans and Specifications for the Improvements. Lender has no duty to inspect the Improvements, and if Lender should inspect the Improvements, Lender shall have no liability or obligation to Borrower or any other party arising out of such inspection. No such inspection nor any failure by Lender to make objections after any such inspection shall constitute a representation by Lender that the Improvements are in accordance with the Plans and Specifications or any other requirement or constitute a waiver of Lender’s right thereafter to insist that the Improvements be constructed in accordance with the Plans and Specifications or any other requirement.
(e) This assignment shall inure to the benefit of Lender and its successors and assigns, any purchaser upon foreclosure of the Deed of Trust, any receiver in possession of the Mortgaged Property and any corporation affiliated with Lender which assumes Lender’s rights and obligations under this Agreement.
Assignment of Plans and Specifications. The Proponent hereby assigns to the City and its successors and assigns, the right to possess and use the Plans and Specifications and the Proponent’s rights under all construction contracts, for the purpose of completing the Improvements if Proponent defaults subject to any prior assignment to the holder of the First Loan.
Assignment of Plans and Specifications. The Assignment of Architect’s Agreement, Plans and Specifications dated as of the Contract Date executed by Borrower, in favor of Governmental Lender and Bank, as the same may from time to time be amended, modified or supplemented.
Assignment of Plans and Specifications. The Proponent hereby assigns to the County and its successors and assigns, the right to possess and use the plans and specifications for construction of the Project, together with the Proponent’s rights under all construction contracts, for the purpose of completing the Project in the event the Proponent defaults under this Agreement.
Assignment of Plans and Specifications. The Proponent hereby assigns to NRH and its successors and assigns, the right to possess and use the Plans and Specifications and the Proponent's rights under all construction contracts, (to the extent the same are assignable) for the purpose of completing the Project if the Proponent defaults subject to any prior assignment to the holder of the First Mortgage.
Assignment of Plans and Specifications. Lessee shall have delivered to Lessor a copy of the preliminary Plans and Specifications and Project Schedule, each in form and substance approved by the Participants, the first page of which shall be signed and all other pages thereof initialed by Lessee, as Construction Agent.
Assignment of Plans and Specifications. Borrower shall grant Lender a first priority security interest in Borrower’s Plans and Specifications (as defined in Section 11.2.4) pursuant to an assignment thereof in form and substance approved by Lender (the “Assignment of Plans”).
Assignment of Plans and Specifications. An Assignment of Plans and Specifications, assigning to the Bank the Borrower's interest in the Plans and Specifications.
Assignment of Plans and Specifications. The Assignment of Plans and Specifications of even date herewith, executed by Peony in favor of Lender in connection with the Loan.
Assignment of Plans and Specifications. Bank’s standard form Assignment of Architects Agreement, Plans and Specifications.
