Common use of Assignment of Plans and Specifications Clause in Contracts

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. As additional security for the Loanpayment of the Loans and Borrower’s other Obligations under the Loan Documents, and the performance of the covenants and agreements under the Loan Documents, Borrower hereby collaterally transfers and assigns to Lender for the benefit of Lender all of Borrower’s right, title and interest in and to the Plans and Specifications for each Project, and hereby represents and warrants to and agrees with Lender as follows: (a) Each each schedule of the Plans and Specifications for the Improvements delivered or to be delivered to Lender for a Project is and shall be a complete and accurate description of such the Plans and Specifications.Specifications for such Project; (b) The the Plans and Specifications for the Improvements each Project are and shall be complete and adequate for the construction of the Improvements Project and there have been no modifications thereof except as described in such schedule. The Plans and Specifications shall not be materially modified without the prior written consent of Lender., which shall not be unreasonably withheld or delayed; (c) Lender may use the Plans and Specifications for the Improvements for any purpose relating to the ImprovementsProject, including but not limited to inspections of construction and the completion of the Improvements.Project; (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 Project contemplated by the Plans and Specifications for the ImprovementsSpecifications. Lender has no duty to inspect the Improvements, and if Lender should inspect the Improvements, Lender shall have no liability or obligation to Borrower Borrower, Lender 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 Project be constructed in accordance with the Plans and Specifications or any other requirement.; and (e) This this assignment shall inure to the benefit of Lender and its successors and assigns, any purchaser upon foreclosure of the any Deed of Trust, any receiver in possession of the Mortgaged Property or any part thereof and any corporation entity affiliated with Lender which assumes Lender’s rights and obligations under this Agreement.

Assignment of Plans and Specifications. As additional security for the Loan, Borrower hereby collaterally transfers and collaterally 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 by Borrower to Lender is and shall be a complete and accurate description of such the 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 Except as otherwise provided in this Agreement, the Plans and Specifications shall not be modified without the prior written consent of Lender, which consent shall not be unreasonably withheld, delayed or conditioned. (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 ImprovementsSpecifications. 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 collateral 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. 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 Phase II 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 Phase II Improvements are and shall be complete and adequate for the construction of the Phase II 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 Phase II Improvements for any purpose relating to the Phase II Improvements, including but not limited to inspections of construction and the completion of the Phase II 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 Phase II Improvements contemplated by the Plans and Specifications for the Phase II 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 Phase II 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 Phase II 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. As additional security for the Loanpayment of the Loans and Borrower’s other Obligations under the Loan Documents, and the performance of the covenants and agreements under the Loan Documents, Borrower hereby collaterally transfers and assigns to Lender for the benefit of Lender all of Borrower’s right, title and interest in and to the Plans and Specifications for each Project (subject, in the case of the Architect Agreement, to the Architect’s Consent), and hereby represents and warrants to and agrees with Lender as follows: (a) Each each schedule of the Plans and Specifications for the Improvements delivered or to be delivered to Lender for a Project is and shall be a complete and accurate description of such the Plans and Specifications.Specifications for such Project; (b) The the Plans and Specifications for the Improvements each Project are and shall be complete and adequate for the construction of the Improvements Project and there have been no modifications thereof except as described in such schedule. The Plans and Specifications shall not be materially modified without the prior written consent of Lender., which shall not be unreasonably withheld or delayed; (c) Lender may use the Plans and Specifications for the Improvements for any purpose relating to the ImprovementsProject, including but not limited to inspections of construction and the completion of the Improvements.Project; (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 Project contemplated by the Plans and Specifications for the ImprovementsSpecifications. Lender has no duty to inspect the Improvements, and if Lender should inspect the Improvements, Lender shall have no liability or obligation to Borrower Borrower, Lender 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 Project be constructed in accordance with the Plans and Specifications or any other requirement.; and (e) This this assignment shall inure to the benefit of Lender and its successors and assigns, any purchaser upon foreclosure of the any Deed of Trust, any receiver in possession of the Mortgaged Property or any part thereof and any corporation entity affiliated with Lender which assumes Lender’s rights and obligations under this Agreement.

Assignment of Plans and Specifications. As additional security for the Loan, Borrower hereby collaterally transfers and assigns to Lender all of BorrowerXxxxxxxx’s right, title and interest in and to the Plans and Specifications and hereby represents and warrants to and agrees with Lender Xxxxxx 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) LenderXxxxxx’s acceptance of this assignment shall not constitute approval of the Plans and Specifications by LenderXxxxxx. 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. As additional security for the Loan, Borrower hereby collaterally transfers and assigns to Lender all of Borrower’s '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 '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 '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 's rights and obligations under this Agreement.

Assignment of Plans and Specifications. As additional security for the Loan, Borrower hereby collaterally transfers and assigns to Lender all of Borrower’s '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 Phase II 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 Phase II Improvements are and shall be complete and adequate for the construction of the Phase II 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 Phase II Improvements for any purpose relating to the Phase II Improvements, including but not limited to inspections of construction and the completion of the Phase II Improvements. (d) Lender’s '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 Phase II Improvements contemplated by the Plans and Specifications for the Phase II Improvements. Lender has no duty to inspect either the Phase I or Phase II Improvements, and if Lender should inspect the Phase I or Phase II 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 Phase II Improvements are in accordance with the Plans and Specifications or any other requirement or constitute a waiver of Lender’s 's right thereafter to insist that the Phase II 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 's rights and obligations under this Agreement.

Assignment of Plans and Specifications. As additional security for the payment of the Loan, Borrower hereby collaterally transfers and assigns to Lender lender all of Borrower’s 's right, title and interest in and to the Plans and Specifications and hereby represents and warrants to and agrees with Lender Bank as follows: (a) Each schedule 5.7.A. The Schedule of the Plans and Specifications for the Improvements delivered or to be once approved and delivered to Lender Bank is and shall be a complete and accurate description of such the Plans and Specifications, and when so filed shall govern on all matters that may arise with respect thereto. (b) 5.7.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 material modifications thereof except as described in such schedule. The Plans and Specifications shall not be materially modified without the prior consent written request of LenderBorrower signed by Borrower and Bank and shall be conditioned upon the written acceptance by the Bank, which acceptance may be subject to such conditions and qualifications as the Bank in its discretion prescribes, it being understood that the Bank has at all times the right to require compliance with the original Plans and Specifications. (c) Lender 5.7.C. Bank 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 5.7.D. Bank's acceptance of this assignment Assignment shall not constitute approval of the Plans and Specifications by LenderBank. Lender Bank has no liability or obligation whatsoever 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 ImprovementsSpecifications. Lender Bank has no duty to inspect the Improvements, and if Lender Bank should inspect the Improvements, Lender Bank 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 Bank to make objections after any such inspection inspections shall constitute a representation by Lender Bank that the Improvements are in accordance with the Plans and Specifications or any other requirement or constitute a waiver of Lender’s Bank's right thereafter to insist that the Improvements be constructed in accordance with the Plans and Specifications or any other requirementPlans. (e) 5.7.E. This assignment shall inure to the benefit of Lender and Bank, its successors and assigns, including any purchaser upon foreclosure of the Deed of TrustMortgage, any receiver receipt in possession of the Mortgaged Property Property, and any corporation affiliated with Lender formed by or on behalf of the Bank which assumes Lender’s Bank's rights and obligations under this Agreement.

Assignment of Plans and Specifications. As additional security for the Loan, Borrower hereby collaterally transfers and assigns to Lender all of Borrower’s '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 Phase I 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 Phase I Improvements are and shall be complete and adequate for the construction of the Phase I 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 Phase I Improvements for any purpose relating to the Phase I Improvements, including but not limited to inspections of construction and the completion of the Phase I Improvements. (d) Lender’s '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 Phase I Improvements contemplated by the Plans and Specifications for the Phase I Improvements. Lender has no duty to inspect either the Phase I or Phase II Improvements, and if Lender should inspect the Phase I or Phase II 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 Phase I Improvements are in accordance with the Plans and Specifications or any other requirement or constitute a waiver of Lender’s 's right thereafter to insist that the Phase I 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 's rights and obligations under this Agreement.