Lender’s Inspector. Lender shall have the right to retain, at Borrower’s expense, an inspector (“Lender’s Inspector”) to review and advise Lender with respect to all Plans and Specifications, Constructions Budgets, construction, architectural and other design professional contracts, change orders, governmental permits and approvals, and other matters related to the design and construction of the Units, to monitor the progress of construction and to review on behalf of Lender all Requests for Advances (as hereafter defined) submitted by Borrower. Lender may make inspections under this section at any time in its discretion; provided, however, that Borrower shall not be responsible for payment of such expenses in excess of $100 per inspection for a condominium and $30 per inspection for any other type of Unit and shall pay for no more that two inspections per month per project. The fees and expenses of Lender’s Inspector, whether internal or external, shall be due and payable by Borrower as provided for herein or otherwise on demand. Borrower acknowledges that (i) Lender’s Inspector has been retained by Lender to act as a consultant, and only as a consultant, to Lender in connection with the construction of the Units, and Lender’s Inspector may be an employee of the Lender, (ii) Lender’s Inspector shall in no event have any power or authority to make any decision or to give any approval or consent or to do any other thing which is binding upon Lender, and any such purported decision, approval, consent or act by Lender’s Inspector on behalf of Lender shall be void and of no force or effect; provided, however, that if Lender’s Inspector is also the loan officer for the Revolver, Lender may agree to such power or authority acting solely in the employee’s capacity as loan officer for the Lender, (iii) Lender reserves the right to make any and all decisions required to be made by Lender under this Agreement, in its sole and absolute discretion, and without in any instance being bound or limited in any manner whatsoever by any opinion expressed or not expressed by Lender’s Inspector to Lender or any other person with respect thereto, and (iv) Lender reserves the right in its sole and absolute discretion to replace Lender’s Inspector with another inspector at any time and without prior notice to or approval by Borrower. All inspections by or on behalf of Lender shall be solely for the benefit of Lender, and Borrower shall have no right to claim any loss or damage against Lender or Lend...
Lender’s Inspector. 8.1 Retention of Lender's Inspector. Lender may retain an architectural/engineering firm ("Lender's Inspector") to do the following: (a) until Completion of the Work and the making of the last Work-Related Advance (including the disbursement of the Basic Retainage and Additional Retainage), review the Principal Work-Related Items, the other Contracts, Intangibles, Licenses and Permits and the budget proposed to be the Construction Budget and any changes to such items; (b) inspect the Real Property prior to commencement of the Work for purposes of determining the condition of the Real Property and any existing improvements; (c) until Completion of the Work and the making of the last Work-Related Advance (including the disbursement of the Basic Retainage and Additional Retainage), make monthly inspections of the Real Property and Work (whether or not Development Loan proceeds are to be used to pay or reimburse Borrower for the costs of such Work) so that Lender may monitor whether Borrower is in compliance with the terms and conditions of this Agreement, and certifying that each Development
Lender’s Inspector. Throughout the course of ------------------ construction of the Improvements, Lender shall have the right to employ, at Borrower's sole cost end expense, a third-party construction consultant ("Lender's Inspector") to review as agent for Lender all construction activities, undertaken in regard to the Property, which inspector shall certify or otherwise indicate to Lender that construction of the Improvements to the date of each Request for Advance and certificate submitted by Borrower, and that such construction complies with the Plans and Sources and Uses Schedule, with such certificate and indication from such inspector to be a further condition precedent to Lender's approval of Borrower's then-submitted Request for Advance. In addition, Lender may elect to have its in-house construction consultant review such construction activities, and if Lender so elects then Borrower shall pay to Lender the imputed fee for such consultant, which fee shall be calculated to be twenty percent (20%) of the fee of Lender's Inspector, or, if Lender has not employed a Lender's Inspector, such fee shall be Five Hundred Dollars($500).
Lender’s Inspector. Throughout the course of construction of the ------------------ Greenhouse, Lender shall have the right to employ, at Lender's sole cost and expense, a third-party construction consultant ("Lender's Inspector") to review as agent for Lender all construction activities undertaken in regard to the Greenhouse, which inspector shall certify or otherwise indicate to Lender the progress of the construction of the Greenhouse to the date of each Notice of Advance and that such construction complies with the Plans and the Sources and Uses Schedule, with such certificate and indication from Lender's Inspector to be a further condition precedent to Lender's disbursement of each Advance.
Lender’s Inspector. Upon receiving each Advance Request, Lender's Inspector will determine (a) whether the work completed to the date of such Advance Request has been done satisfactorily and in accordance with the Plans and Specifications, (b) the percentage of construction of the Project completed as of the date of such Advance Request, (c) the Direct Costs actually incurred for work in place as part of the Project as of the date of such Advance Request, (d) the actual sum necessary to complete construction of the Project in accordance with the Plans and Specifications, and (e) the amount of time from the date of such Advance Request which will be required to complete construction of the Project in accordance with the Plans and Specifications. Borrowers shall pay a reasonable inspection fee to Lender upon submission of each Advance Request. All inspections by or on behalf of Lender shall be solely for the benefit of Lender, and Borrowers shall have no right to claim any loss or damage against Lender or Lender's Inspector arising from any alleged (i) negligence in or failure to perform such inspections, (ii) failure to monitor Advances of the Construction Loan or the progress or quality of construction, or (iii) failure to otherwise properly administer the Construction Loan.
Lender’s Inspector. Throughout the course of construction of the
Lender’s Inspector. Throughout the course of construction of the Homes, Lender shall have the right to employ, at Borrower's sole cost and expense, an inspector or inspectors who shall review as agent for Lender all construction activities undertaken in regard to the Project. A certificate or indication from such inspector or inspectors that construction complies with the Home Plans and will be completed not later than the Completion Date for each Home shall be a further condition precedent to Lender's approval of each Draw Request.
Lender’s Inspector. Lender’s Inspector shall have approved the request for advance and related documents as well as the Plans and Specifications, Construction Budget, Construction/Disbursement Schedule (if any), and all other issues pertaining to the Property or Collateral.
Lender’s Inspector. Lender’s Inspector shall have approved the request for the Loan advance and related documents after taking into account any other relevant issues pertaining to the Property or Collateral.
Lender’s Inspector
