Common use of Correction of Defects; Changes to Plans Clause in Contracts

Correction of Defects; Changes to Plans. The Borrower, at Borrower's sole cost and expense from funds other than the Loan proceeds, will correct any defects in the Improvements or any departure from the Plans not previously approved by the City or otherwise permitted hereunder, whether such defects or departures are discovered before or after the disbursement of any Loan proceeds relating thereto. The Borrower will not change, alter or amend in any material respect either the Plans or installation of the Improvements without the prior written consent of the City, and will not permit any material deviations of any contractor(s) from the Plans. Notwithstanding the foregoing, no consent is required from the City for (i) change orders in an amount equal to or less than $10,000 per occurrence or (ii) multiple change orders that do not exceed in the aggregate One Hundred Thousand Dollars ($100,000). Any change orders in excess of these limits will require written approval by the City, which written approval will be provided in 1 business day for individual change orders up to $25,000 and in 2 business days for individual change orders exceeding $25,000.

Correction of Defects; Changes to Plans. The Borrower, at Borrower's sole cost and expense from funds other than the Loan proceeds, will correct any defects in the Improvements or any departure from the Plans not previously approved by the City or otherwise permitted hereunder, whether such defects or departures are discovered before or after the disbursement of any Loan proceeds relating thereto. The Borrower will not change, alter or amend in any material respect either the Plans or installation of the Improvements without the prior written consent of the City, and will not permit any material deviations of any contractor(s) from the Plans. Notwithstanding the foregoing, no consent is required from the City for (i) change orders in an amount equal to or less than $10,000 per occurrence or (ii) multiple change orders that do not exceed in the aggregate One Hundred Thousand Dollars ($100,000). Any change orders in excess of these limits will require written approval by the City, which written approval will determination shall be provided in 1 business day for individual change orders up to $25,000 and in 2 business days for individual change orders exceeding $25,000.