Common use of Changes in Construction and Development Documents Clause in Contracts

Changes in Construction and Development Documents. (a) Except for Minor Change Orders, no changes in the Plans or the other Construction and Development Documents (including change orders) will be effective, unless approved in writing in advance by Lender, as described below. Lender’s approval will be required for changes in the Plans or the other Construction and Development Documents which are not Minor Change Orders. (b) Borrower will obtain, at its sole cost and expense, all approvals or consents from other Persons of any changes in the Plans or other Construction and Development Documents (including change orders) that are required by Law or under any other agreement with respect to the Land or Improvements (including any Project Covenant Documents and the Governmental Approvals). Borrower will deliver to Lender and the Inspecting Architect any documentation required by Lender pertaining to any such change. Lender will respond within ten (10) Business Days after receipt by Lender and the Inspecting Architect of all documentation necessary to evaluate a requested change, and Lender will not approve any changes until Borrower has obtained all other approvals that Lender determines are required from other parties. If Lender determines that any change may increase the cost of completion of the Improvements in excess of the amount of any category as shown on the Development Budget (“Category”), Lender may demand that Borrower deposit additional funds sufficient to cover the increased costs as a condition to giving its approval, such funds to be held by Lender and disbursed in accordance with Article 6. (c) At any time that Lender’s consent or approval is required with respect to the Plans, any of the other Construction and Development Documents, construction of the Improvements and the cost thereof, or changes to any of the foregoing, Lender may, without obligation, rely conclusively on the opinion of the Inspecting Architect.

Changes in Construction and Development Documents. (a) Except for Minor Change Orders, no changes in the Plans or the other Construction and Development Documents (including change orders) will be effective, unless approved in writing in advance by Lender, as described below. Lender’s 's approval will be required for changes in the Plans or the other Construction and Development Documents which are not Minor Change Orders. (b) Borrower will obtain, at its sole cost and expense, all approvals or consents from other Persons of any changes in the Plans or other Construction and Development Documents (including change orders) that are required by Law or under any other agreement with respect to the Land or Improvements (including any the Project Covenant Documents and the Governmental Approvals). Borrower will deliver to Lender and the Inspecting Architect any documentation required by Lender pertaining to any such change. Lender will respond within ten (10) Business Days after receipt by Lender and the Inspecting Architect of all documentation necessary to evaluate a requested changechange (but failure to respond within such ten (10) Business Day period shall not constitute a deemed approval), and Lender will not approve any changes until Borrower has obtained all other approvals that Lender determines are required from other parties. If Lender determines that any change may increase the cost of completion of the Improvements in excess of the amount of any category as shown on the Development Budget (“"Category”"), Lender may demand that Borrower deposit additional funds sufficient to cover the increased costs as a condition to giving its approval, such funds to be held by Lender and disbursed in accordance with Article 6. (c) At any time that Lender’s 's consent or approval is required with respect to the Plans, any of the other Construction and Development Documents, construction of the Improvements and the cost thereof, or changes to any of the foregoing, Lender may, without obligation, rely conclusively on the opinion of the Inspecting Architect.

Changes in Construction and Development Documents. (a) Except for Minor Change Orders, no changes in the Plans or the other Construction and Development Documents (including change orders) will be effective, unless approved in writing in advance by LenderAgent or the Required Lenders, as described below. Lender’s Agent's approval will be required for changes in the Plans or the other Construction and Development Documents which are not Minor Change Orders. (b) . Borrower will obtain, at its sole cost and expense, all approvals or consents from other Persons of any changes in the Plans or other Construction and Development Documents (including change orders) that are required by Law or under any other agreement with respect to the Land or Improvements (including any the Project Covenant Documents and the Governmental Approvals). Borrower will deliver to Lender Agent and the Inspecting Architect any documentation required by Lender Agent pertaining to any such change. Lender Agent will respond within ten (10) Business Days after receipt by Lender Agent and the Inspecting Architect of all documentation necessary to evaluate a requested change, and Lender Agent will not approve any changes until Borrower has obtained all other approvals that Lender Agent determines are required from other parties. If Lender Agent determines that any change may increase the cost of completion of the Improvements in excess of the amount of any category as shown on the Development Budget (“"Category”"), Lender may demand that Borrower shall either reallocate funds from the "Contingency Reserve" Category to the extent permitted pursuant to the terms of this Agreement or deposit additional funds sufficient to cover the increased costs as a condition to giving its approval, such funds to be held by Lender Agent and disbursed in accordance with Article 6. (c) . At any time that Lender’s Agent's or Lenders' consent or approval is required with respect to the Plans, any of the other Construction and Development Documents, construction of the Improvements and the cost thereof, or changes to any of the foregoing, Lender Agent or Lenders may, without obligation, rely conclusively on the opinion of the Inspecting Architect.

Changes in Construction and Development Documents. (a) Except for Minor Change Orders, no changes in the Plans or the other Construction and Development Documents (including change orders) will be effective, unless approved in writing in advance by LenderAgent or Required Lenders, as described below. LenderAgent’s approval will be required for changes in the Plans or the other Construction and Development Documents which are not Minor Change Orders. , which approval shall not be unreasonably withheld, conditioned or delayed. Required Lenders’ approval will be required for changes which cost in excess of One Million Dollars (b$1,000,000) each or Four Million Dollars ($4,000,0000) in the aggregate, which approval shall not be unreasonably withheld, conditioned or delayed. Borrower will obtain, at its sole cost and expense, all approvals or consents from other Persons of any changes in the Plans or other Construction and Development Documents (including change orders) that are required by Law or under any other agreement with respect to the Land or Improvements (including any Project Covenant Documents and the Governmental Approvals). Upon Agent’s request, Borrower will deliver to Lender Agent and the Inspecting Architect any documentation required by Lender Agent pertaining to any such change. Lender Agent will endeavor to respond within ten (10) Business Days after receipt by Lender Agent and the Inspecting Architect of all documentation necessary to evaluate a requested change, and Lender Agent will not approve any changes until Borrower has obtained all other approvals that Lender Agent determines are required from other parties. If Lender Agent determines that any change may increase the cost of completion Completion of the Improvements in excess of the amount of any category as shown on the Development Budget (a “Category”), Lender Agent may demand that Borrower deposit additional funds sufficient to cover the increased costs as a condition to giving its approval, such funds to be held by Lender Agent and disbursed in accordance with Article 6; provided, however, that if Agent determines that any change may increase the cost of Completion of the Improvements in excess of the amount of any Category, Borrower shall have the right to allocate cost savings demonstrated to the reasonable satisfaction of Agent and Inspecting Architect from other Categories to such Category to cover such increased costs. (c) At any time that LenderAgent’s or Lenders’ consent or approval is required with respect to the Plans, any of the other Construction and Development Documents, construction of the Improvements and the cost thereof, or changes to any of the foregoing, Lender Agent or Lenders may, without obligation, rely conclusively on the opinion of the Inspecting Architect.

Changes in Construction and Development Documents. (a) Except for Minor Change Orders, no changes in the Plans or the other Construction and Development Documents (including change orders) will shall be effective, unless approved in writing in advance by Lender, as described belowhereinafter described. Lender’s approval will shall be required for changes in the Plans or the other Construction and Development Documents which are not Minor Change Orders. (b) . Borrower will shall obtain, at its sole cost and expense, all approvals or consents from other Persons of any changes in the Plans or other Construction and Development Documents (including change orders) that are required by Law or under any other agreement with respect to the Land or Improvements (including any Project Covenant Documents and including, without limitation, the Governmental Approvals). Borrower will shall deliver to Lender and the Inspecting Architect any documentation as required by Lender pertaining to any such changechange referred to in this Section 4.18. Lender will shall respond within promptly but no later than ten (10) Business Days after receipt by Lender and the Inspecting Architect of all such documentation necessary within which to evaluate a any requested change, and Lender will not approve be required to consider approving any changes until Borrower has obtained unless all other approvals that Lender determines which, in Lender’s reasonable judgment, are required from other partiesparties have been obtained. If Lender Lender, in its judgment exercised in good faith, determines that any change may increase the cost of completion of the Improvements in excess of the amount of any category as shown on the Development Budget (“Category”), Lender may demand that Borrower deposit additional funds sufficient to cover the increased costs as a condition to giving its approval, such funds to be held by Lender and disbursed in accordance with Article 66 [Closing and Disbursement Matters] hereof. (c) At any time that Lender’s consent or approval is required with respect to the Plans, any of the other Construction and Development Documents, construction of the Improvements and the cost thereof, or changes to any of the foregoing, Lender may, without obligation, rely conclusively on the opinion of the Inspecting Architect.