Xxxxx Insurance. In the event that any of the Property is located in an area identified by the Federal Emergency Management Agency (“FEMA”) as having special flood hazards Developer warrants and represents to GLO and the GLO that: (i) Such area is participating in the National Flood Insurance Program or less than one (1) year has passed since FEMA notification regarding such hazards; and (ii) Developer will obtain flood insurance, in an amount and form satisfactory to GLO, in accordance with GLO or HUD guidelines, for the Property that is located in the special flood hazard area and those areas must have all finished ground floor elevations at least one foot above the flood plain and parking and drive areas not be any lower than six inches below the floodplain. Developer warrants that it will maintain the flood insurance for the term of the Grant.
Appears in 6 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
