Common use of Right to Retain the Construction Inspector Clause in Contracts

Right to Retain the Construction Inspector. Agent shall have the right to retain, at Borrower's cost and expense, the Construction Inspector to perform all or any of the following services on behalf of the Lenders: 7.1.1 to review and advise the Lenders whether in the opinion of the Construction Inspector, each of the Project Budgets accurately reflects all applicable Project Costs; 7.1.2 to review and advise the Lenders whether, in the opinion of the Construction Inspector, the applicable Plans and Specifications are satisfactory for the intended purposes thereof; 7.1.3 to make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in accordance with the applicable Plans and Specifications and to approve Borrower's then current Draw Request as being consistent with the applicable Project Budget and Borrower's obligations under this Agreement, and to advise the Lenders of the anticipated cost of and time for completion of construction of the Improvements and the adequacy of any Contingency Reserve; 7.1.4 to review and advise the Lenders on any proposed change orders or construction change directives requiring Agent's consent; and 7.1.5 to review the Construction Contracts and subcontracts, for the purpose of providing the Lenders with an opinion as to the cost of construction to be incurred to complete the Projects, and also for the purpose of assuring that all such subcontracts are for work required by the applicable Plans and Specifications to be performed. The reasonable fees of the Construction Inspector shall be paid by Borrower forthwith upon billing therefor and the reasonable expenses incurred by Agent and Lenders on account thereof shall be reimbursed to Agent and Lenders forthwith upon request therefor, but neither Agent, the Lenders nor the Construction Inspector shall have any liability to Borrower on account of the services performed by the Construction Inspector, any neglect or failure on the part of the Construction Inspector to properly perform its services, or any approval by the Construction Inspector of construction of the Improvements. Neither Agent, the Lenders nor the Construction Inspector assumes any obligation to Borrower or any other Person concerning the quality of construction of the Improvements or the absence therefrom of defects.

Right to Retain the Construction Inspector. The Banks acting through the Agent shall have the right to retain, at the Borrower's cost and expense, the Construction Inspector to perform all or any of the following services on behalf of the LendersBanks: 7.1.1 (a) to review and advise the Lenders Agent and the Banks as to the current status of the Project and the Project Budget; (b) to review and advise the Agent and the Banks whether in the opinion of the Construction Inspector, each of the Project Budgets Budget accurately reflects all applicable Project Costs; 7.1.2 (c) to review and advise the Lenders Agent and the Banks whether, in the opinion of the Construction Inspector, the applicable Plans and Specifications are satisfactory for the intended purposes thereof; 7.1.3 (d) to make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in accordance with the applicable Plans and Specifications and to approve the Borrower's then current Draw Request as being consistent with the applicable Project Budget and the Borrower's obligations under this Agreement, and to advise the Lenders Agent and the Banks of the anticipated cost of and time for completion of construction of the Improvements and the adequacy of any Contingency Reserve; 7.1.4 (e) to review and advise the Lenders Agent and the Banks on any proposed change orders or construction change directives requiring Agent's consentdirectives; and 7.1.5 (f) to review the Construction Contracts Contract and subcontracts, for the purpose of providing the Lenders Agent and the Banks with an opinion as to the cost of construction to be incurred to complete the ProjectsProject, and also for the purpose of assuring that all such subcontracts are for work required by the applicable Plans and Specifications to be performed. The reasonable fees of the Construction Inspector shall be paid by the Borrower forthwith upon billing therefor and the reasonable expenses incurred by the Banks or the Agent and Lenders on account thereof shall be reimbursed to the Banks or the Agent and Lenders as the case may be forthwith upon request therefor, but neither Agentthe Banks, the Lenders Agent nor the Construction Inspector shall have any liability to the Borrower on account of (i) the services performed by the Construction Inspector, (ii) any neglect or failure on the part of the Construction Inspector to properly perform its services, or (iii) any approval by the Construction Inspector of construction of the Improvements. Neither Agentthe Banks, the Lenders Agent nor the Construction Inspector assumes any obligation to the Borrower or any other Person concerning the quality of construction of the Improvements or the absence therefrom of defects.

Right to Retain the Construction Inspector. Agent The Lender shall have the right to retain, at the Borrower's cost and expense, the Construction Inspector to perform all or any of the following services on behalf of the LendersLender: 7.1.1 (a) to review and advise the Lenders Lender whether in the opinion of the Construction Inspector, each of the Project Budgets Budget accurately reflects all applicable Project Costs; 7.1.2 (b) to review and advise the Lenders Lender whether, in the opinion of the Construction Inspector, the applicable Plans and and­ Specifications are satisfactory for the intended purposes thereof; 7.1.3 (c) to make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in accordance with the applicable Plans and Specifications and to approve Borrowerthe Bor­rower's then current Draw Request as being consistent with the applicable Project Budget and the Borrower's obligations under this Agreement, and to advise the Lenders Lender of the anticipated cost of and time for completion of construction of the Improvements and the adequacy of any Contingency Reserve; 7.1.4 (d) to review and advise the Lenders Lender on any proposed change orders or construction change directives requiring Agent's consentdirectives; and 7.1.5 (e) to review the Construction Contracts Contract and subcontractssubcon­tracts, for the purpose of providing the Lenders Lender with an opinion as to the cost of construction to be incurred to complete the ProjectsProject, and also for the purpose of assuring that all such subcontracts are for work required by the applicable Plans and Specifications to be performed. The reasonable fees of the Construction Inspector shall be paid by the Borrower forthwith upon billing therefor therefore and the reasonable expenses incurred by Agent and Lenders the Lender on account thereof shall be reimbursed to Agent and Lenders the Lender forthwith upon request therefortherefore, but neither Agent, the Lenders Lender nor the Construction Inspector shall have any liability to the Borrower on account of (i) the services performed by the Construction Inspector, (ii) any neglect or failure on the part of the Construction Con­struction Inspector to properly perform its services, or (iii) any approval by the Construction Inspector of construction of the Improvements. Neither Agent, the Lenders Lender nor the Construction Inspector assumes any obligation to the Borrower or any other Person concerning the quality of construction of the Improvements or the absence therefrom of defects.

Right to Retain the Construction Inspector. Agent shall have the right to retain, at Borrower's ’s cost and expense, the Construction Inspector to perform all or any of the following services on behalf of the Lenders: 7.1.1 to review and advise the Lenders whether in the opinion of the Construction Inspector, each of the Project Budgets accurately reflects all applicable Project Costs; 7.1.2 to review and advise the Lenders whether, in the opinion of the Construction Inspector, the applicable Plans and Specifications are satisfactory for the intended purposes thereof; 7.1.3 to make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in accordance with the applicable Plans and Specifications and to approve Borrower's ’s then current Draw Request as being consistent with the applicable Project Budget and Borrower's ’s obligations under this Agreement, and to advise the Lenders of the anticipated cost of and time for completion of construction of the Improvements and the adequacy of any Contingency Reserve; 7.1.4 to review and advise the Lenders on any proposed change orders or construction change directives requiring Agent's ’s consent; and 7.1.5 to review the Construction Contracts and subcontracts, for the purpose of providing the Lenders with an opinion as to the cost of construction to be incurred to complete the Projects, and also for the purpose of assuring that all such subcontracts are for work required by the applicable Plans and Specifications to be performed. The reasonable fees of the Construction Inspector shall be paid by Borrower forthwith upon billing therefor and the reasonable expenses incurred by Agent and Lenders on account thereof shall be reimbursed to Agent and Lenders forthwith upon request therefor, but neither Agent, the Lenders nor the Construction Inspector shall have any liability to Borrower on account of the services performed by the Construction Inspector, any neglect or failure on the part of the Construction Inspector to properly perform its services, or any approval by the Construction Inspector of construction of the Improvements. Neither Agent, the Lenders nor the Construction Inspector assumes any obligation to Borrower or any other Person concerning the quality of construction of the Improvements or the absence therefrom of defects.

Right to Retain the Construction Inspector. Agent The Lender shall have the right to retain, at the Borrower's cost and expense, the Construction Inspector to perform all or any of the following services on behalf of the LendersLender: 7.1.1 (a) to review and advise the Lenders Lender whether in the opinion of the Construction Inspector, each of the Project Budgets Budget accurately reflects all applicable Project Costs; 7.1.2 (b) to review and advise the Lenders Lender whether, in the opinion of the Construction Inspector, the applicable Plans and Specifications are satisfactory for the intended purposes thereof; 7.1.3 (c) to make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in accordance for compliance with the applicable Plans and Specifications and to approve Borrower's the then current Draw Request as being consistent with the applicable Project Budget and Borrower's obligations under this AgreementRequest, and to advise the Lenders Lender of the anticipated cost of and time for completion of construction of the Improvements and the adequacy of any Contingency Reserve; 7.1.4 (d) to review and advise the Lenders Lender on any proposed change orders or construction change directives requiring Agent's consentdirectives; and 7.1.5 (e) to review the Construction Contracts Contract and subcontracts, for the purpose of providing the Lenders with an opinion as to the cost of construction to be incurred to complete the Projects, and also for the purpose of assuring that all such subcontracts are for work required by the applicable Plans and Specifications to be performed. The reasonable fees of the Construction Inspector shall be paid by the Borrower forthwith upon billing therefor and the reasonable expenses incurred by Agent and Lenders the Lender on account thereof shall be reimbursed to Agent and Lenders the Lender forthwith upon request therefor, but neither Agent, the Lenders Lender nor the Construction Inspector shall have any liability to the Borrower on account of (i) the services performed by the Construction Inspector, (ii) any neglect or failure on the part of the Construction Inspector to properly perform its services, or (iii) any approval by the Construction Inspector of construction of the Improvements. Neither Agent, the Lenders Lender nor the Construction Inspector assumes any obligation to the Borrower or any other Person concerning the quality of construction of the Improvements or the absence therefrom of defects. The services provided by the Construction Inspector are for the sole and exclusive benefit of Lender.

Right to Retain the Construction Inspector. Agent The Lender shall have the right to retain, at the Borrower's ’s cost and expense, the Construction Inspector to perform all or any of the following services on behalf of the LendersLender: 7.1.1 (a) to review and advise the Lenders Lender whether in the opinion of the Construction Inspector, each of the Project Budgets Budget accurately reflects all applicable Project Costs; 7.1.2 (b) to review and advise the Lenders Lender whether, in the opinion of the Construction Inspector, the applicable Plans and Specifications are satisfactory for the intended purposes thereof; 7.1.3 (c) to make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in accordance with the applicable Plans and Specifications and to approve the Borrower's ’s then current Draw Request as being consistent with the applicable Project Budget and the Borrower's ’s obligations under this Agreement, and to advise the Lenders Lender of the anticipated cost of and time for completion of construction of the Improvements and the adequacy of any Contingency Reserve; 7.1.4 (d) to review and advise the Lenders Lender on any proposed change orders or construction change directives requiring Agent's consentdirectives; and 7.1.5 (e) to review the Construction Contracts Contract and subcontracts, for the purpose of providing the Lenders Lender with an opinion as to the cost of construction to be incurred to complete the ProjectsProject, and also for the purpose of assuring that all such subcontracts are for work required by the applicable Plans and Specifications to be performed. The reasonable fees of the Construction Inspector shall be paid by the Borrower forthwith upon billing therefor therefore and the reasonable expenses incurred by Agent and Lenders the Lender on account thereof shall be reimbursed to Agent and Lenders the Lender forthwith upon request therefortherefore, but neither Agent, the Lenders Lender nor the Construction Inspector shall have any liability to the Borrower on account of (i) the services performed by the Construction Inspector, (ii) any neglect or failure on the part of the Construction Inspector to properly perform its services, or (iii) any approval by the Construction Inspector of construction of the Improvements. Neither Agent, the Lenders Lender nor the Construction Inspector assumes any obligation to the Borrower or any other Person concerning the quality of construction of the Improvements or the absence therefrom of defects.

Right to Retain the Construction Inspector. (a) Agent shall have the right to retain, at Borrower's ’s cost and expense, the Construction Inspector to perform all or any of the following various services on behalf of the Agent and Lenders: 7.1.1 , including, without limitation, to review and advise the Lenders whether in the opinion of the Construction Inspector, each of the Project Budgets accurately reflects all applicable Project Costs; 7.1.2 to review Budget and advise the Lenders whether, in the opinion of the Construction Inspector, the applicable Plans and Specifications are satisfactory for the intended purposes thereof; 7.1.3 Specifications, to make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in materially accordance with the applicable Plans and Specifications and to approve Borrower's then current Draw Request as being consistent with the applicable Project Budget and Borrower's obligations under this AgreementSpecifications, and to advise the Agent and Lenders of the anticipated cost of and time for completion of construction of the Improvements and the adequacy of any Contingency Reserve; 7.1.4 to review , and advise the Lenders on any proposed change orders or construction change directives requiring Agent's consent; and 7.1.5 to review the Construction Contracts Contract and subcontracts, for the purpose of providing the Lenders with an opinion as to the cost of construction to be incurred to complete the Projects, and also for the purpose of assuring that all such subcontracts are for work required by the applicable Plans and Specifications to be performed. . (b) The reasonable fees of the Construction Inspector shall be paid by Borrower forthwith upon billing therefor and the reasonable expenses incurred by Agent and Lenders on account thereof shall be reimbursed to Agent and Lenders forthwith by Borrower upon request therefor, but neither . (c) None of Agent, the Lenders any Lender nor the Construction Inspector shall have any liability to Borrower on account of (i) the services performed by the Construction Inspector, (ii) any neglect or failure on the part of the Construction Inspector to properly perform its services, or (iii) any approval by the Construction Inspector of construction of the Improvements, except with respect to any liability resulting from Construction Inspector’s gross negligence or willful misconduct. Neither Agent, the Lenders Lender nor the Construction Inspector assumes any obligation to Borrower or any other Person concerning the quality of construction of the Improvements or the absence therefrom of defects.

Right to Retain the Construction Inspector. Agent The Lender shall have the right to retain, at the Borrower's cost and expense, the Construction Inspector to perform all or any of the following various services on behalf of the Lenders: 7.1.1 Lender, including, without limitation, to review and advise the Lenders whether in the opinion of the Construction Inspector, each of the Project Budgets accurately reflects all applicable Project Costs; 7.1.2 to review Budget and advise the Lenders whether, in the opinion of the Construction Inspector, the applicable Plans and Specifications are satisfactory for the intended purposes thereof; 7.1.3 Specifications, to make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements Renovation Project to such date is in accordance with the applicable Plans and Specifications and to approve Borrower's then current Draw Request as being consistent with the applicable Project Budget and Borrower's obligations under this AgreementSpecifications, and to advise the Lenders Lender of the anticipated cost of and time for completion of construction of the Improvements Renovation Project and the adequacy of any Contingency Reserve; 7.1.4 to review contingencies in the Project Budget, and advise the Lenders on any proposed change orders or construction change directives requiring Agent's consent; and 7.1.5 to review the Construction Contracts Contract and subcontracts, for the purpose of providing the Lenders with an opinion as to the cost of construction to be incurred to complete the Projects, and also for the purpose of assuring that all such subcontracts are for work required by the applicable Plans and Specifications to be performed. The reasonable fees of the Construction Inspector shall be paid by the Borrower forthwith upon billing therefor and the reasonable expenses incurred by Agent and Lenders the Lender on account thereof shall be reimbursed to Agent and Lenders the Lender forthwith by the Borrower upon request therefor, but neither Agent, . Neither the Lenders Lender nor the Construction Inspector shall have any liability to the Borrower on account of (a) the services performed by the Construction Inspector, (b) any neglect or failure on the part of the Construction Inspector to properly perform its services, or (c) any approval by the Construction Inspector of construction of the ImprovementsRenovation Project. Neither Agent, the Lenders Lender nor the Construction Inspector assumes any obligation to the Borrower or any other Person concerning the quality of construction of the Improvements Renovation Project or the absence therefrom of defects.

Right to Retain the Construction Inspector. Agent (a) The Lender shall have the right to retain, at the Borrower's cost and expense, the Construction Inspector to perform all or any of the following various services on behalf of the Lenders: 7.1.1 to review and advise the Lenders whether in the opinion of the Construction InspectorLender, each of the Project Budgets accurately reflects all applicable Project Costs; 7.1.2 to review and advise the Lenders whetherincluding, in the opinion of the Construction Inspectorwithout limitation, the applicable Plans and Specifications are satisfactory for the intended purposes thereof; 7.1.3 to make periodic inspections (approximately at the date of each Draw Request) for the purpose of assuring that construction of the Improvements to date is in accordance with the applicable Plans and Specifications and to approve Borrower's then current Draw Request as being consistent with the applicable Project Budget and Borrower's obligations under this AgreementSpecifications, and to advise the Lenders Lender of the anticipated cost of and time for completion of construction of the Improvements and the adequacy of any Contingency Reserve; 7.1.4 to review , and advise the Lenders on any proposed change orders or construction change directives requiring Agent's consent; and 7.1.5 to review the Construction Contracts Contract and subcontracts, for the purpose of providing the Lenders with an opinion as to the cost of construction to be incurred to complete the Projects, and also for the purpose of assuring that all such subcontracts are for work required by the applicable Plans and Specifications to be performed. The reasonable Construction Inspector named herein is acceptable to Borrower, however, if Lender shall elect to appoint a new Construction Inspector, the Lender shall appoint a Construction Inspector that has an office located in The Commonwealth of Massachusetts. (b) The fees and expenses of the Construction Inspector shall be paid by the Borrower forthwith upon billing therefor (whether the same are charged directly to the Lender or the Borrower), and, if the Lender shall pay any such fees and expenses, the reasonable Borrower shall reimburse the Lender for such fees and expenses incurred by Agent and Lenders on account thereof shall be reimbursed to Agent and Lenders forthwith upon request therefor, but neither Agent, . (c) Neither the Lenders Lender nor the Construction Inspector shall have any liability to the Borrower on account of (i) the services performed by the Construction Inspector, any neglect or failure on the part of the Construction Inspector to properly perform its services, or (ii) any approval by the Construction Inspector of construction of the Improvements. Neither Agent, the Lenders Lender nor the Construction Inspector assumes any obligation to the Borrower or any other Person concerning the quality of construction of the Improvements or the absence therefrom of defects.