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 Development or to guarantee such construction or completion; nor will any covenant or any other provision in conveyances from the City 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 deemed to permit or authorize any such holder to devote the Property or any portion thereof to any uses, or to construct any Development thereon, other than those uses of Development provided for or authorized by this Agreement and the Regulatory 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 Development or to guarantee such construction or completion; nor will any covenant or any other provision in conveyances from the City 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 deemed to permit or authorize any no such holder to shall devote the Property or any portion thereof to any uses, or to construct any Development thereon, other than those uses of the Development provided for or authorized by this Agreement and the Regulatory Housing 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 Development improvements or to guarantee such construction or completion; , nor will shall any covenant or any other provision in conveyances from the City to the Developer evidencing the realty comprising the Property or any part thereof Documents 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 Dealership Development Parcel or Swap Parcel or any portion thereof to any uses, or to construct any Development improvements thereon, other than those uses of Development or improvements provided for or authorized by this Agreement and the Regulatory 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 Development Improvements or to guarantee such construction or completion; nor will shall any covenant or any other provision in conveyances from the City to the 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 Development Improvements thereon, other than those uses of Development Improvements provided for or authorized by this Agreement and the Regulatory 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 Development improvements or to guarantee such construction or completion; nor will shall any covenant or any other provision in conveyances from the City to the Developer evidencing the realty comprising the Property or any part thereof Housing 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 Development improvements thereon, other than those uses of Development improvements provided for or authorized by this Agreement and the Regulatory Agreement.Agreement.‌