Common use of Holder Not Obligated to Construct Clause in Contracts

Holder Not Obligated to Construct. The holder of any Security Financing Interest authorized by this Agreement is not obligated to construct or complete any improvements or to guarantee such construction or completion; nor will any covenant or any other provision in conveyances from the County to Developer evidencing the realty comprising the Property or any part thereof be construed so to obligate such holder. However, nothing in this Agreement is deemed to permit or authorize any such holder to devote the Property or any portion thereof to any uses, or to construct any improvements thereon, other than those uses of improvements provided for or authorized by this Agreement.

Holder Not Obligated to Construct. The holder of any Security Financing Interest authorized by this Agreement is not obligated to construct or complete any improvements or to guarantee such construction or completion; nor will shall any covenant or any other provision in conveyances from the County to the Developer evidencing the realty comprising the Property or any part thereof be construed so to obligate such holder. However, nothing in this Agreement is shall be deemed to permit or authorize any such holder to devote the Property or any portion thereof to any uses, or to construct any improvements thereon, other than those uses of improvements provided for or authorized by this Agreement.

Holder Not Obligated to Construct. The holder of any Security Financing Interest authorized by this Agreement is not obligated to construct or complete any improvements or to guarantee such construction or completion; nor will shall any covenant or any other provision in conveyances of property from the County Successor Agency to Developer evidencing the realty comprising the Property or any part thereof be construed so to obligate such holder. However, nothing in this Agreement is shall be deemed to permit or authorize any such holder to devote the Property Private Improvements Parcels or Public Improvements Parcels or any portion thereof to any uses, or to construct any improvements thereon, other than those uses of or improvements provided for or authorized by this Agreement.

Holder Not Obligated to Construct. The holder of any Security Financing Interest authorized by this Agreement is not obligated to construct or complete any improvements Improvements or to guarantee such construction or completion; nor will shall any covenant or any other provision in conveyances from the County to Developer evidencing the realty comprising the Property or any part thereof Ground Lease be construed so to obligate such holder. However, nothing in this Agreement is shall be deemed to permit or authorize any such holder to devote the Property or any portion thereof to any uses, or to construct any improvements Improvements thereon, other than those uses of improvements Improvements provided for or authorized by this Agreement.