Inspections; Reports. The Borrower shall provide inspection reports during the construction of the Project as required by DEQ to ensure that the Project complies with approved plans and specifications. Qualified inspectors shall conduct these inspections under the direction of a registered civil, mechanical or electrical engineer, whichever is appropriate. DEQ or its representative(s) may enter property owned or controlled by the Borrower to conduct interim inspections and require progress reports sufficient to determine compliance with approved plans and specifications and with the Loan Agreement, as appropriate.
Inspections; Reports. (a) On or before ten (10) calendar days (five days for non-contingent cash) from the Effective Date, the Buyer shall inspect the Property or obtain for its own use, benefit and reliance, inspections and/or reports on the condition of the Property, or Buyer shall be deemed to have 1) waived such inspections and any objections to the condition of the Property, and to have 2) accepted the condition of the Property. The Buyer shall keep the Property free and clear of liens and indemnify and hold the Seller and the Indemnified Parties harmless from all Claims arising out of or relating in any way to the Buyer’s inspections, and the Buyer shall repair the Property, at Buyer’s sole expense, for all such Claims. The Buyer shall not directly or indirectly cause any inspections to be made by any government building or zoning inspectors or government employees without the prior written consent of the Seller, unless required by law, in which case, the Buyer shall provide reasonable notice to the Seller prior to any such inspection. If the Seller has winterized the Property and the Buyer desires to have the Property inspected, the Seller will have the Property de-winterized prior to inspection and re-winterized after inspection. The Buyer agrees to pay both of these expenses in advance to the Seller or listing agent for the Seller’s behalf. The amount paid under this provision shall be nonrefundable but will be applicable to Buyer’s funds paid into escrow at close of escrow and credited as an expense to the Seller. Any Buyer requested or mandatory reports or inspections, Buyer is to pay and obtain. Buyer is to pay for Natural Hazard Report were applicable by state, Escrow Holder to order. Seller may have obtained inspections. Buyer can request a copy of any reports with in the first 5 days of the purchase contract. If Buyer elects not to inquire regarding Seller reports the Buyer accepts all property conditions and holds the Seller harmless against any and all future property claims. Seller recommends the Buyer obtain professional inspections on all aspects to the property, including but not limited to structural, electrical, mechanical, termite, soil, mold, roof, pool/spa, asbestos, Lead, plumbing, sewer, septic, HOA litigation, title encumbrances, permits any city violations or city required reports that may affect the property. Buyer to confirm current square footage, room count, permit status, tax rates, waste disposal system, utility services, fees, assessments, b...
Inspections; Reports. (a) With respect to a Performing Investment that is a Whole Loan (or a Mezzanine Loan, B Note or Participation to the extent that (i) the holder of such Mezzanine Loan, B Note or Participation has the right to perform physical inspections of the related Underlying Mortgage Property and (ii) reports of physical inspections of the related Underlying Mortgage Property are not delivered to the Issuer pursuant to an intercreditor, servicing or participation agreement) and is secured directly or indirectly by real property, the Servicer shall, to the extent required in accordance with Accepted Servicing Practices, perform a physical inspection of each such real property at least annually, beginning in 2007; provided, however, with respect to any Performing Investment with a principal balance of $2,000,000 or less, such inspections need not be performed more often than every 24 months, and, in addition, if at any time (a) the Issuer (or the Collateral Manager acting on behalf of the Issuer) requests such an inspection, or (b) the Servicer, with the approval of the Issuer (or the Collateral Manager acting on behalf of the Issuer), determines that it is prudent to conduct such an inspection. The Servicer shall prepare a written report of each such inspection and shall promptly deliver a copy of such report to the Collateral Manager and the Issuer. The reasonable out-of-pocket expenses incurred by the Servicer and a reasonable fee due Servicer in connection with any such inspections (including any out-of-pocket expenses related to travel and lodging and any charges incurred through the use of a qualified third party to perform such services) shall, to the extent demanded by the Servicer, be paid by the Collateral Manager as a Servicing Advance.
(b) With respect to a Specially Serviced Investment that is a Whole Loan (or a Mezzanine Loan, B Note or Participation to the extent that (i) the holder of such Mezzanine Loan, B Note or Participation has the right to perform physical inspections of the related Underlying Mortgage Property and (ii) reports of physical inspections of the related Underlying Mortgage Property are not delivered to the Issuer pursuant to an intercreditor, servicing or participation agreement) and is secured directly or indirectly by real property and with respect to REO Property, the Special Servicer shall, to the extent required in accordance with Accepted Servicing Practices, perform a physical inspection of each such real property (a) as soon a...
Inspections; Reports. All due diligence and the following third-party reports (including the reliance language contained therein) must be from parties reasonably acceptable to Lender and in form and substance reasonably acceptable to Lender: (i) engineering reports, (ii) Phase I environmental reports (and Phase II if recommended), (iii) a seismic report (if applicable), including SEL/SUL calculations, (iv) an MAI/FIRREA appraisal, (iv) title insurance and survey with such endorsements as Lender shall request that are available in Texas (including UCC insurance for the mezzanine loan amount and a mezzanine endorsement for the aggregate loan amount if any portion of the Loan is a mezzanine loan), (vi) zoning report, and (vii) other reports or inspections that Lender may reasonably require.
