Common use of Mortgagee Not Obligated to Construct Clause in Contracts

Mortgagee Not Obligated to Construct. Notwithstanding any of the provisions of this Agreement, including, but not limited to, those which are or are intended to be covenants running with the land, the holder of any mortgage authorized by this Agreement (including any such holder who obtains title to the Property or any part thereof as a result of foreclosure proceedings, or action in lieu thereof, but not including any other party who thereafter obtains title to the Property or such part from or through such holder or any other purchaser at foreclosure sale other than the holder of the mortgage itself) shall not be obligated by the provisions of this Agreement to construct or complete the Improvements or to guarantee such construction or completion; nor shall any covenant or any other provision in the Deed be construed to so obligate such holder; provided, that nothing in this Section or any other Section or provision of this Agreement shall be deemed or construed to permit or authorize any such holder to devote the Property or any part thereof to any uses, or to construct any improvements thereon, other than those uses or improvements provided or permitted in the Development Plan and this Agreement.

Mortgagee Not Obligated to Construct. Notwithstanding any of the provisions of this Agreement, including, including but not limited to, to those which are or are intended to be covenants running with the land, the holder of any mortgage authorized by this Agreement (including any such holder who obtains title to the Property or any part thereof as a result of foreclosure proceedings, or action Mortgagee shall in lieu thereof, but not including any other party who thereafter obtains title to the Property or such part from or through such holder or any other purchaser at foreclosure sale other than the holder of the mortgage itself) shall not no way be obligated by the provisions of this Agreement to construct or complete the Private Improvements thereon or to guarantee such construction or completion; completion or to perform any of the Developer's other agreements, obligations or covenants under this Agreement with respect to the Building Site (other than those limiting the uses permitted to be developed on the Building Site, and other requirements of this Agreement applicable to any improvements which the Mortgagee undertakes to construct on the Building Site), nor shall any covenant or any other provision in the Deed with respect to the Building Site be construed to so obligate such holderMortgagee; provided, it is further provided that nothing in this Section or any other Section or provision of this Agreement shall be deemed or construed to permit or authorize any such holder to devote the Property Building Site or any part thereof to any uses, or to construct any improvements thereon, other than those uses or improvements Private Improvements provided or permitted in the Development Plan and this Agreement.

Mortgagee Not Obligated to Construct. Notwithstanding any of the provisions of this AgreementContract, including, including but not limited to, to those which are or are intended to be covenants running with title to the landProperty, the holder of any mortgage authorized by this Agreement Contract (including any such holder who obtains title to the Property property or any part thereof as a result of foreclosure proceedings, or action in lieu thereof, but not including (a) any other party parties who thereafter obtains title to the Property or such part from or through such holder or (b) any other purchaser at foreclosure sale other than the holder of the mortgage itself) shall not be obligated by the provisions of this Agreement Contract to construct or complete the Improvements or to guarantee such construction or completionconstruction; nor shall any covenant or any other provision in the Deed be construed to so obligate such holder; provided, that nothing . Nothing in this Section or any other Section or provision of this Agreement the Contract shall be deemed or construed to permit or authorize any such holder to devote the Property or any part thereof to any uses, or to construct any improvements thereon, other than those uses or improvements provided or permitted in the Development Urban Renewal Plan and this AgreementContract.

Mortgagee Not Obligated to Construct. Notwithstanding any of the provisions of this Agreement, including, but not limited to, those which are or are intended to be covenants running with the land, the holder of any mortgage authorized by this Agreement (a Mortgagee, including any such holder Mortgagee who obtains title to the Property Project Site or any part thereof as a result of foreclosure proceedings, or conveyance or other action in lieu thereof, but not including any or other party who thereafter obtains title to the Property or such part from or through such holder or any other purchaser at foreclosure sale other than the holder of the mortgage itself) remedial action, shall not in no way be obligated by the provisions of this Agreement to construct or complete the Improvements Project or any part thereof or to guarantee such construction or completion; nor shall any covenant or any other provision in the Deed be construed to so obligate such holder; provided, that nothing . Nothing in this Section or any other Section or provision of this Agreement shall be deemed or construed to permit or authorize any such holder Mortgagee or any other person or entity to devote the Property Project Site or any part thereof to any usesuses other than uses consistent with this Agreement and the Approvals, and nothing in this Section shall be deemed to give any Mortgagee or any other person or entity the right to construct any improvements thereon, under this Agreement (other than those uses as needed to conserve or protect improvements provided or permitted in the Development Plan and construction already made) unless or until such person or entity assumes SFCM's obligations under this Agreement.

Mortgagee Not Obligated to Construct. Notwithstanding any of the provisions of this Agreement, including, including but not limited to, to those which are or are intended to be covenants running with the land, the holder of any mortgage authorized by this Agreement (including any such holder who obtains title to the Property or any part thereof thereof, as a result of foreclosure proceedings, or action in lieu thereof, but not including including: (a) any other party who thereafter obtains title to the Property or such part from or through such holder holder; or (b) any other purchaser at foreclosure sale other than the holder of the mortgage itself) itself shall not be obligated by the provisions of this Agreement to construct or complete the Improvements or to guarantee such construction or completion; nor shall any covenant or any other provision in the Deed be construed to so obligate such holder; provided, however, that nothing in this Section or any other Section or provision of this Agreement shall be deemed or construed to permit or authorize any such holder to devote the Property or any part thereof to any uses, or to construct any improvements thereon, other than those uses or improvements provided or permitted in the Development Urban Renewal Plan and in this Agreement.