Common use of Construction Terms Clause in Contracts

Construction Terms. Retainage or Liquidated Damages: Lender will retain _________% of the Financing until a report of completion by a qualified Independent Third Party Reviewer (“ITPR”) is provided to Authorized Representative. OR Property Owner will pay liquidated damages to Lender of $_______ per day for every day after 30 days following completion of the Project that such a report of completion is not provided. Xxxxxx will then provide the report of completion to Authorized Representative. Additional Construction Terms Date Draw down Amount Purpose

Construction Terms. Retainage or Liquidated Damages: Lender will retain _________% of the Financing until a report of completion by a qualified Independent Third Party Reviewer (“ITPR”) is provided to Authorized Representative. OR Property Owner will pay liquidated damages to Lender of $_______ per day for every day after 30 days following completion of the Project that such a report of completion is not provided. Xxxxxx Lender will then provide the report of completion to Authorized Representative. Additional Construction Terms Date Draw down Amount Purpose

Construction Terms. Retainage or Liquidated Damages: Lender will retain _________% of the Financing until a report of completion by a qualified Independent Third Party Reviewer (“ITPR”) is provided to Authorized Representative. OR Property Owner will pay liquidated damages to Lender of $_______ per day for every day after 30 days following completion of the Project that such a report of completion is not provided. Xxxxxx will then provide the report of completion to Authorized Representative. Additional Construction Terms Date Draw down Amount Purpose

Construction Terms. Retainage or Liquidated Damages: Lender will retain _________% of the Financing until a report of completion by a qualified Independent Third Party Reviewer (“ITPR”) is provided to Authorized Representative. OR Property Owner will pay liquidated damages to Lender of $_______ per day for every day after 30 days following completion of the Project that such a report of completion is not provided. Xxxxxx Lender will then provide the report of completion to Authorized Representative. Additional Construction Terms Date Draw down Amount Purpose