Common use of No Work Performed Clause in Contracts

No Work Performed. No labor or services will be performed on, and no materials will be furnished or delivered to, any Lot by or on behalf of Borrower prior to recording the Deed of Trust covering that Lot, which could give rise to a Lien on the Lot with priority equal to or greater than the Liens and security interests of the Deed of Trust or other Loan Documents. No contracts (or memorandum or affidavit thereof) for the supplying of labor, materials, or services for the construction of improvements on a Lot shall have been recorded in the mechanic’s lien or other appropriate records in the county where the Lot is located.