Common use of Holder Not Obligated to Construct Clause in Contracts

Holder Not Obligated to Construct. The holder of any mortgage or deed of trust authorized by this Agreement shall not be obligated to complete construction of the Project or to guarantee such completion. Nothing in this Agreement shall be deemed to permit or authorize any such holder to devote the Subject Property or any portion thereof to any uses, or to construct any improvements thereon, other than those uses, or improvements provided for or authorized by this Agreement.

Holder Not Obligated to Construct. The holder of any mortgage or mortgage, deed of trust authorized by this Agreement shall not be obligated to construct or complete construction of the Project Improvements or to guarantee such construction or completion. Nothing in this Agreement shall be deemed to permit or authorize any such holder to devote the Subject Property or any portion thereof to any uses, or to construct any improvements thereon, other than those uses, uses or improvements provided for or authorized by this Agreement.

Holder Not Obligated to Construct. The holder of any mortgage or deed of trust authorized by this Agreement shall not be obligated to complete construction of the Project or to guarantee such completion. Nothing in this Agreement shall be deemed to permit or authorize any such holder to devote the Subject Property or any portion thereof to any uses, or to construct any improvements thereon, other than those uses, or improvements provided for or authorized by this Agreement.

Holder Not Obligated to Construct. The holder of any mortgage or mortgage, deed of trust or other security interest authorized by this Agreement shall is not be obligated to construct or complete construction any of the Project Improvements or to guarantee such construction or completion. Nothing in this Agreement shall be deemed to permit or authorize any such holder to devote the Subject Property or any portion thereof to any uses, or to construct any improvements thereon, other than those uses, uses or improvements Improvements provided for or authorized by this Agreement.

Holder Not Obligated to Construct. The holder of any mortgage or deed of trust Security Financing Interest authorized by this Agreement shall is not be obligated to construct or complete construction of the Project any improvements or to guarantee such construction or completion. Nothing However, nothing in this Agreement shall be deemed to permit or authorize any such holder to devote the Subject Property or any portion thereof to any uses, or to construct any improvements thereon, other than those uses, or uses of improvements provided for or authorized by this Agreement.

Holder Not Obligated to Construct. The holder of any mortgage or mortgage, deed of trust authorized by this Agreement shall not be obligated to construct or complete construction of the Project or to guarantee such construction or completion. Nothing in this Agreement shall be deemed to permit or authorize any such holder to devote the Subject Property or any portion thereof to any uses, or to construct any improvements thereon, other than those uses, or improvements provided for or authorized by this Agreement.