Flood Certification Clause Samples
A Flood Certification clause requires verification of whether a property is located within a designated flood zone. Typically, this involves obtaining an official flood certification report from a recognized authority, which may impact the need for flood insurance or affect loan approval. The core function of this clause is to ensure that all parties are aware of flood risks associated with the property, thereby managing risk and compliance with lender or regulatory requirements.
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Flood Certification. Evidence satisfactory to Lender that the Plant is not located in the flood plain.
Flood Certification. A flood certification report covering the Premises;
Flood Certification. The Seller shall transfer to the Purchaser a “Life-of-Loan” flood certification with Flood Data Service, Inc. relating to each Mortgage Loan or pay to Purchaser a $ 9.00 per loan fee which fee shall be deducted from the Purchase Price on the Purchaser Price Payment Date.
Flood Certification. Evidence satisfactory to Lender that the Project is not located in the flood plain.
Flood Certification. Sellers or the related REO Subsidiary shall have obtained a life of loan, transferable flood certification contract for each REO Property and has assigned all such contracts to Buyer.
Flood Certification. Lender, at Borrower's expense, shall obtain a flood certification from a third party.
Flood Certification. The Bank shall have received a completed flood hazard certificate on FEMA Form 81-93 evidencing that the Mortgaged Premises are not located in any flood plain or special flood hazard area, or (ii) alternatively, Borrowers shall furnish evidence satisfactory to the Bank that flood insurance is being issued by a reputable insurer concurrent with the Closing Date on the applicable portion of the Mortgaged Premises not certifiable under clause (i) above in scope and substance reasonably acceptable to the Bank and in compliance with mortgage loan flood plain banking rules and regulations applicable thereto and to the Bank.
Flood Certification. Borrower will obtain a certification that ------------------- the improvements on the Real Property do not lie within any zone determined by the Federal Emergency Administration which may be likely of flooding more frequently than every one hundred (100) years, except for that part of the Real Property in Pulaski County, Arkansas as shown on the survey delivered by Borrower to Bank.
Flood Certification. Except with respect to Mortgage Loans where the Mortgaged Property is located in the State of California, Seller shall have obtained a life of loan, transferable flood certification contract for each Mortgage Loan and shall assign all such contracts to Buyer.
Flood Certification. Borrower shall deliver to Agent a Federal Emergency Management Agency ("FEMA") Form 81-93, the Standard Flood Hazard Determination Form, certifying that the Real Estate is not located in a flood plain zone.