Construction Responsibilities. Borrower shall construct the Improvements in a workmanlike manner according to the Plans and Specifications and the recommendations of any soils or engineering report approved by Lender. Borrower shall make reasonable efforts to comply with any construction schedule furnished to Lender and shall comply all applicable laws, ordinances, rules, regulations, building restrictions, recorded covenants and restrictions, and requirements of all regulatory authorities having jurisdiction over the Property or Improvements. Each portion and all of the Improvements, except for approved off-site improvements, shall be constructed within building restriction and set-back lines, and shall not encroach upon, overhang or interfere with any easement, right-of-way, floodplain or other property, unless allowed otherwise whether through written agreement, variance or other governmental or third party approval. Borrower shall not commence the construction of any improvements on the Property, except for those set forth in the Plans and Specifications, without Lender’s prior written consent. Borrower shall be solely responsible for all aspects of Borrower’s business and conduct in connection with the Property and Improvements, including, without limitation, for the quality and suitability of the Plans and Specifications and their compliance with all governmental requirements, the supervision of the work of construction, the qualifications, financial condition and performance of all architects, engineers, contractors, material suppliers, consultants and property managers, and the accuracy of all applications for payment and the proper application of all disbursements. Lender is not obligated to supervise, inspect or inform Borrower or any third party of any aspect of the construction of the Improvements or any other matter referred to above. Except to the extent approved in writing by Lender, no materials, equipment or other personal property or fixture constituting part of the Improvements shall be purchased or installed under any security agreement, lease or other arrangement whereby any third party has a security interest, lien or right to remove or repossess any such item or to claim or assert a lien upon any such property, or to consider such property to constitute personal property after its incorporation into the Improvements.
Appears in 2 contracts
Samples: Building Loan Agreement (AAC Holdings, Inc.), Building Loan Agreement (AAC Holdings, Inc.)
Construction Responsibilities. Borrower shall construct the Improvements in a workmanlike manner according to the Plans and Specifications and the recommendations of any soils or engineering report approved by Lender. Borrower shall make reasonable efforts to comply with any construction schedule furnished to Lender and shall comply all applicable laws, ordinances, rules, regulations, building restrictions, recorded covenants and restrictions, and requirements of all regulatory authorities having jurisdiction over the Property or Improvements. Each portion and all of the Improvements, except for approved off-site improvements, shall be constructed within building restriction and set-back lines, and shall not encroach upon, overhang or interfere with any easement, right-of-way, floodplain or other property, unless allowed otherwise whether through written agreement, variance or other governmental or third party approval. Borrower shall not commence the construction of any improvements on the Property, except for those set forth in the Plans and Specifications, without Lender’s prior written consent. Borrower shall be solely responsible for all aspects of Borrower’s business and conduct in connection with the Property and Improvements, including, without limitation, for the quality and suitability of the Plans and Specifications and their compliance with all governmental requirements, the supervision of the work of construction, the qualifications, financial condition and performance of all architects, engineers, contractors, material suppliers, consultants and property managers, and the accuracy of all applications for payment and the proper application of all disbursements. Lender is not obligated to supervise, inspect or inform Borrower or any third party of any aspect of the construction of the Improvements or any other matter referred to above. Except to the extent approved in writing by Lender, no materials, equipment or other personal property or fixture constituting part of the Improvements shall be Loan No. 1003653 purchased or installed under any security agreement, lease or other arrangement whereby any third party has a security interest, lien or right to remove or repossess any such item or to claim or assert a lien upon any such property, or to consider such property to constitute personal property after its incorporation into the Improvements.
Appears in 2 contracts
Samples: Building Loan Agreement, Building Loan Agreement (Global Growth Trust, Inc.)
Construction Responsibilities. Borrower Construction Borrowers shall construct or cause to be constructed the Construction Improvements in a workmanlike manner according to the applicable Plans and Specifications and Specifications. Construction Borrowers shall comply in all material respects with the recommendations of any soils or engineering report approved by Lender. Borrower shall make reasonable efforts to comply with any applicable construction schedule furnished to Lender and shall comply with all applicable laws, ordinances, rules, regulations, building restrictions, recorded covenants and restrictions, and requirements of all regulatory authorities having jurisdiction over the Property or Improvements. Each portion and all of the Construction Improvements, except for approved off-site improvements, shall be constructed within building restriction and set-back lines, and shall not encroach upon, overhang or interfere with any easement, right-of-way, floodplain or other property, unless allowed otherwise whether through written agreement, variance or other governmental or third party approval. Borrower Construction Borrowers shall not commence the construction of any improvements on the Construction Property, except for those set forth in the applicable Plans and Specifications, without Lender’s prior written consentconsent (not to be unreasonably withheld, conditioned or delayed). Borrower Borrowers shall be solely responsible for all aspects of Borrower’s Borrowers’ business and conduct in connection with the Property and ImprovementsProperties, including, without limitation, for the quality and suitability of the Plans and Specifications and their compliance with all governmental requirementsApplicable Laws, the supervision of the work of construction, the qualifications, financial condition and performance of all architects, engineers, contractors, material suppliers, consultants and property managers, and the accuracy of all applications for payment and the proper application of all disbursements. Lender is not obligated to supervise, inspect or inform any Borrower or any third party of any aspect of the construction of the Construction Improvements or any other matter referred to above. Except to the extent approved in writing by Lender, no materials, equipment or other personal property or fixture constituting part of the Improvements shall be purchased or installed under any security agreement, lease or other arrangement whereby any third party has a security interest, lien or right to remove or repossess any such item or to claim or assert a lien upon any such property, or to consider such property to constitute personal property after its incorporation into the Improvements.
Appears in 1 contract
Samples: Construction Loan Agreement (DC Industrial Liquidating Trust)
Construction Responsibilities. Borrower shall construct the Improvements free and clear of all Liens (other than Permitted Liens), in a workmanlike manner substantially according to the Plans and Specifications and the recommendations of any soils or engineering report approved by Lenderrelating to the Property or the Project. Borrower shall make reasonable efforts to comply in all material respects with any construction schedule furnished to Lender and shall comply all applicable lawsRequirements of Law, ordinances, rules, regulationsProperty Documents, building restrictions, recorded covenants and restrictions, and requirements of all regulatory authorities having jurisdiction over the Property or ImprovementsProperty. Each portion and all of the Improvements, except for approved off-site improvements, shall be constructed within building restriction and set-back lines, and shall not encroach upon, overhang or interfere with with, in any material way, any easement, right-of-way, floodplain or other property, unless allowed otherwise whether through written agreement, variance or other governmental or third party approval. Borrower shall not commence the construction of any material improvements on the Property, except for those set forth in the Plans and Specifications, without LenderAdministrative Agent’s prior written consent. Borrower shall be solely responsible for all aspects of Borrower’s business and conduct in connection with the Property and ImprovementsProperty, including, without limitation, for the quality and suitability of the Plans and Specifications and their compliance with all governmental requirements, the supervision of the work of construction, the qualifications, financial condition and performance of all architects, engineers, contractors, material suppliers, consultants and property managers, and the accuracy of all applications for payment and the proper application of all disbursements. Neither Administrative Agent nor any Lender is not obligated to supervise, inspect or inform Borrower or any third party of any aspect of the construction of the Improvements or any other matter referred to above. Except to the extent approved in writing by Lender, no materials, equipment or other personal property or fixture constituting part of the Improvements shall be purchased or installed under any security agreement, lease or other arrangement whereby any third party has a security interest, lien or right to remove or repossess any such item or to claim or assert a lien upon any such property, or to consider such property to constitute personal property after its incorporation into the Improvements.
Appears in 1 contract