Common use of Obligation to Restore Clause in Contracts

Obligation to Restore. Until the issuance of a Certificate of Completion, in the event that any damage or destruction of the Project or any part thereof occurs as a result of fire or other casualty, the Developer shall be responsible for the restoration of the Project to a condition at least comparable to that existing at the time of such damage or destruction, to the extent that such insurance proceeds may permit; provided, however, that if such damage or destruction is caused as a result of the negligence or willful act or omission of the Developer, or of any of its employees or agents, members, contractors, subcontractors, lessees, licensees or invitees, the Developer shall be responsible for the full restoration of the damaged or destroyed Project regardless of the cost thereof or the amount of the available insurance proceeds. Any reconstruction or repair undertaken pursuant to the provisions of this Section shall in all respects be in accordance with and conform to the provisions of the Approved Plans, the Approved Construction Documents, and the provisions of this Agreement. The Developer shall commence to reconstruct or repair the Project, or any portion thereof, which have been destroyed or damaged within a period not to exceed three (3) months after the insurance or other proceeds with respect to such destroyed or damaged property have been received by the Developer or any mortgagee and all permits have been received (or, if the conditions then prevailing require a longer period, such longer period as the Town may specify in writing), and shall well and diligently and with dispatch prosecute such reconstruction or repair to completion, such reconstruction or repair in any event to be completed within twenty-four (24) months after the start thereof, subject to Force Majeure. USE OF THE PROPERTY U se of the Land and the Project. The Land [and the Private Property – if applicable] and the Project shall be used for

Obligation to Restore. ‌ Until the issuance of a Certificate of Completion, in the event that any damage or destruction of the Project or any part thereof occurs as a result of fire or other casualty, the Developer shall be responsible for the restoration of the Project to a condition at least comparable to that existing at the time of such damage or destruction, to the extent that such insurance proceeds may permit; provided, however, that if such damage or destruction is caused as a result of the negligence or willful act or omission of the Developer, or of any of its employees or agents, members, contractors, subcontractors, lessees, licensees or invitees, the Developer shall be responsible for the full restoration of the damaged or destroyed Project regardless of the cost thereof or the amount of the available insurance proceeds. Any reconstruction or repair undertaken pursuant to the provisions of this Section shall in all respects be in accordance with and conform to the provisions of the Approved Plans, the Approved Construction Documents, and the provisions of this Agreement. The Developer shall commence to reconstruct or repair the Project, or any portion thereof, which have been destroyed or damaged within a period not to exceed three (3) months after the insurance or other proceeds with respect to such destroyed or damaged property have been received by the Developer or any mortgagee and all permits have been received (or, if the conditions then prevailing require a longer period, such longer period as the Town may specify in writing), and shall well and diligently and with dispatch prosecute such reconstruction or repair to completion, such reconstruction or repair in any event to be completed within twenty-four (24) months after the start thereof, subject to Force Majeure. USE OF THE PROPERTY U se PROPERTY‌ Use of the Land and the Project. Project.‌ The Land [and the Private Property – if applicable] and the Project shall be used for

Obligation to Restore. Until the issuance of a Certificate of Completion, in the event that any damage or destruction of the Project or any part thereof occurs as a result of fire or other casualty, the Developer shall be responsible for the restoration of the Project to a condition at least comparable to that existing at the time of such damage or destruction, to the extent that such insurance proceeds may permit; provided, however, that if such damage or destruction is caused as a result of the negligence or willful act or omission of the Developer, or of any of its employees or agents, members, contractors, subcontractors, lessees, licensees or invitees, the Developer shall be responsible for the full restoration of the damaged or destroyed Project regardless of the cost thereof or the amount of the available insurance proceeds. Any reconstruction or repair undertaken pursuant to the provisions of this Section shall in all respects be in accordance with and conform to the provisions of the Approved Plans, the Approved Construction Documents, and the provisions of this Agreement. The Developer shall commence to reconstruct or repair the Project, or any portion thereof, which have been destroyed or damaged within a period not to exceed three (3) months after the insurance or other proceeds with respect to such destroyed or damaged property have been received by the Developer or any mortgagee and all permits have been received (or, if the conditions then prevailing require a longer period, such longer period as the Town may specify in writing), and shall well and diligently and with dispatch prosecute such reconstruction or repair to completion, such reconstruction or repair in any event to be completed within twenty-four (24) months after the start thereof, subject to Force Majeure. USE OF THE PROPERTY U se of the Land and the Project. The Land [and the Private Property – if applicable] and the Project shall be used for.