Common use of Capital Improvement Plan Clause in Contracts

Capital Improvement Plan. Borrower shall complete within a reasonable period of time following the date hereof the material elements of all Capital Work required by the Capital Improvement Plan with respect to such Property and shall complete such Capital Work as set forth in the Capital Improvement Plan, subject to delays caused by force majeure. The term "force majeure" as used in this Section shall include strikes, lockouts or other labor trouble, fire or other casualty, inclement weather, governmental preemption in connection with a national emergency, inability to secure materials or labor because of any such emergency, war, civil disturbance or other emergency, cause or event beyond the reasonable control of Borrower, it being agreed insufficient funds shall not constitute an event of force majeure.