Common use of Liens and Lien Waivers Clause in Contracts

Liens and Lien Waivers. Borrower shall take all action necessary to have any mechanic’s and materialmen’s liens, judgment liens or other liens or encumbrances filed against the Property released or transferred to bond within 30 days of the date Borrower receives notice of the filing of such liens or encumbrances. If any such lien or encumbrance is filed, no Construction Loan advances related to such Project will be made until (i) the lien is removed and a copy of the recorded release thereof is received by Lender and accepted by the title insurance company, or (ii) other appropriate measures have been taken by Borrower to cause the title insurance company to insure over such lien. Lender shall not be obligated to disburse any funds to Borrower related to such Project if, in the opinion of Lender, any Construction Loan advance, the Property, or any other collateral for the Construction Loan would be subject to a mechanic’s or materialmen’s lien or any other lien or encumbrance. Borrower shall be fully and solely responsible for compliance in all respects whatsoever with the applicable mechanic’s and materialmen’s lien laws. Title. Unless otherwise expressly waived by Lender, Borrower shall ensure that the Security Instrument is and remains a valid first lien on the Property, and the Property is and remains free and clear of all liens, defects, or other encumbrances with the exception of those permitted exceptions approved by Lender. Surveys. If any surveys are required by Lender, Lender’s Inspector, or the issuer of any title policy, Borrower shall deliver such surveys within 30 days after such, request. Any change in the state of facts shown in any updated survey shall be subject to approval by Lender and Lender’s Inspector. The Project shall be constructed entirely on the Property and will not encroach upon or overhang any easement, right of way, or any other land, and shall be constructed wholly within applicable building setback restrictions. Compliance with Laws and Restrictions. All construction shall be performed strictly in accordance with all applicable statutes, ordinances, codes, regulations and restrictions. All contractors, subcontractors, mechanics or laborers and other persons providing labor or material in construction of the Project shall have or be covered by worker’s compensation insurance, if required by applicable law. Soil,

Liens and Lien Waivers. Borrower Borrowers shall take all action necessary to have any mechanic’s 's and materialmen’s 's liens, judgment liens or other liens or encumbrances filed against the Mortgaged Property released or transferred to bond within 30 twenty (20) days of the date any Borrower receives notice of the filing of such liens or encumbrances. If any such lien or encumbrance is filed, no Construction Loan advances related to such Project will Lender shall not be made required t make any Advances until (i) the lien it is removed and a copy of the recorded release thereof is received by Lender and accepted by the title insurance company, or (ii) other appropriate measures have been taken by Borrower to cause the title insurance company to insure over such lienTitle Insurer. Lender shall not be obligated to disburse any funds to any Borrower related to such Project if, in the opinion of Lender, any Construction Loan advanceAdvance, the Mortgaged Property, or any other collateral for the Construction Loan would be subject to a mechanic’s 's or materialmen’s 's lien or any other lien or encumbrance. Borrower Borrowers shall be fully and solely responsible for compliance in all respects whatsoever with the applicable mechanic’s 's and materialmen’s 's lien laws. TitleBorrowers shall (1) notify Lender of any and all notices to owner and claims of lien under the Construction Lien Law within 5 days of receipt thereof, and (2) comply with all provisions of the Construction Lien Law, including but not limited to payment and notice provisions. Unless otherwise expressly waived by Borrowers authorize Lender to demand on Borrowers' behalf the statement of account referred to in Section 713.16(2) of the Florida Statutes of any person or entity filing a notice to owner. Lender, Borrower shall ensure that the Security Instrument is and remains a valid first lien 's rights to request such statements of account will not impose any obligation on the PropertyLender to use such authority, and the Property is and remains free and clear exercise of all liens, defects, such authority shall not create or other encumbrances with the exception of those permitted exceptions approved by Lender. Surveys. If imply any surveys are required by Lender, Lender’s Inspector, or the issuer of any title policy, Borrower shall deliver obligation to exercise such surveys within 30 days after such, request. Any change in the state of facts shown in any updated survey shall be subject to approval by Lender and Lender’s Inspector. The Project shall be constructed entirely authority on the Property and will not encroach upon or overhang any easement, right of way, or any other land, and shall be constructed wholly within applicable building setback restrictions. Compliance with Laws and Restrictions. All construction shall be performed strictly in accordance with all applicable statutes, ordinances, codes, regulations and restrictions. All contractors, subcontractors, mechanics or laborers and other persons providing labor or material in construction of the Project shall have or be covered by worker’s compensation insurance, if required by applicable law. Soil,subsequent occasions.

Liens and Lien Waivers. Borrower shall take all action necessary to have any mechanic’s 's and materialmen’s 's liens, judgment liens or other liens or encumbrances filed against the Property having a value in excess of $5,000.00 in the aggregate released or transferred to bond within 30 days of the date Borrower receives notice of the filing of such liens or encumbrances. If any such lien or encumbrance is filed, no Construction Loan advances related to such Project will be made until (i) the lien it is removed and a copy of the recorded release thereof is received by Lender Bank and accepted by the title insurance company, or (ii) other appropriate measures have been taken by Borrower to cause the title insurance company to insure over such lien. Lender Bank shall not be obligated to disburse any funds to Borrower related to such Project if, in the opinion of LenderBank, any Construction Loan advance, the Property, or any other collateral for the Construction Loan would be subject to a mechanic’s 's or materialmen’s 's lien or any other lien or encumbrance. Borrower shall be fully and solely responsible for compliance in all respects whatsoever with the applicable mechanic’s 's and materialmen’s 's lien laws. Title. Unless otherwise expressly waived by LenderBank, Borrower shall ensure that the Security Instrument is and remains a valid first lien on the Property, and the Property is and remains free and clear of all liens, defects, or other encumbrances with the exception of those permitted exceptions approved by Lenderencumbrances. Surveys. If any surveys are required by LenderBank, Lender’s Bank's Inspector, or the issuer of any title policy, Borrower shall deliver such surveys within 30 days after such, such request. Any change in the state of facts shown in any updated survey shall be subject to approval by Lender Bank and Lender’s Bank's Inspector. The Project shall be constructed entirely on the Property and will not encroach upon or overhang any easement, right of way, or any other land, and shall be constructed construed wholly within applicable building setback restrictions. Compliance with Laws and Restrictions. All construction shall be performed strictly in accordance with all applicable statutes, ordinances, codes, regulations and restrictions. All contractors, subcontractors, mechanics or laborers and other persons providing labor or material in construction of the Project shall have or be covered by worker’s 's compensation insurance, if required by applicable law. Soil,.