Common use of Construction Default Clause in Contracts

Construction Default. If Borrower fails in any respect to comply with the provisions of this Agreement or if construction ceases before completion regardless of the reason, Lender, at its option, may refuse to make further Advances, may accelerate the indebtedness under the terms of the Note, and without thereby impairing any of its rights, powers, or privileges, may enter into possession of the construction site and perform or cause to be performed any and all work and labor necessary to complete the improvements, substantially in accordance with the Plans and Specifications.

Construction Default. If Borrower fails in any respect to comply with the provisions of this Agreement or any other Loan Documents, or if construction ceases before completion of the Project regardless of the reason, Lender, at its option, may refuse to make further Advances, may accelerate the indebtedness Indebtedness under the terms of the NoteNote and other Loan Documents, and without thereby impairing any of its rights, powerspower, or privileges, may enter into possession of the Project’s construction site and perform or cause to be performed any and all work and labor necessary to complete the improvements, Improvements substantially in accordance with the Plans and Specifications.

Construction Default. If Borrower fails in any respect to comply with the provisions of this Agreement or if construction ceases before completion regardless of the reason, Lender, at its option, may refuse to make further AdvancesReimbursements, may accelerate the indebtedness under the terms of the Note, and without thereby impairing any of its rights, powers, or privileges, may enter into possession of the construction site and perform or cause to be performed any and all work and labor xxxxx necessary to complete the improvementsImprovements, substantially in accordance with the Plans and Specifications.

Construction Default. If Borrower fails in any respect to comply with the provisions of this Agreement or if construction ceases before completion regardless of the reason, Lender, at its option, may refuse to make further Advances, may accelerate the indebtedness under the terms of the Note, and without thereby impairing any of its rights, powers, or privileges, may enter into possession of the construction site and perform or cause to be performed any and all work and labor necessary to complete the improvementsImprovements, substantially in accordance with the Plans and Specifications.

Construction Default. If Borrower fails in any material respect to comply with the provisions of this Agreement or if construction ceases before completion regardless in violation of the reasonparagraph A.13. of article IV below, Lender, at its option, may refuse to make further Advances, may accelerate the indebtedness under the terms of the Note, and without thereby impairing any of its rights, powers, or privileges, may enter into possession of the construction site and perform or cause to be performed any and all work and labor necessary to complete the improvementsImprovements, substantially in accordance with the Plans and Specifications.

Construction Default. If Borrower fails in any respect to comply with the provisions of this Agreement or if construction ceases before completion regardless of the reason, Lender, at its option, may refuse to make further Advances, may accelerate the indebtedness Indebtedness under the terms of the Note, and without thereby impairing any of its rights, powers, or privileges, may enter into possession of the construction site and perform or cause to be performed any and all work and labor necessary to complete the improvementsImprovements, substantially in accordance with the Plans and Specifications.

Construction Default. If Borrower fails in any respect to comply with the provisions of this Agreement or if construction ceases before completion regardless of the reason, Lender, at its option, may refuse to make further Advances, may accelerate the indebtedness under the terms of the Note, and without thereby impairing any of its rights, powers, or privileges, may enter into possession of the construction site and perform or cause to be performed any and all work and labor necessary to complete the improvements, substantially in accordance with the Plans and SpecificationsConstruction Contract.