Complete Construction. In addition to the remedies set forth in Section 11.2(i) through (iv), Lender may enter into possession of the Lot and Home and, at Lender’s option, in the name and on behalf of Borrower, do anything in connection with the construction of the Homes that Borrower could do in its own behalf, including without limitation, any one or more of the following: (a) perform all work necessary to complete construction of the Homes then under construction or discontinue any such work, whether commenced by Borrower or Lender, (b) assume Borrower’s rights, and powers under any contract Borrower has entered into in connection with the Lot or the construction of the Homes, (c) execute all certificates and applications that are required under any construction contract, (d) make any additions, changes, and corrections in the Plans and Specifications which in Lender’s judgment are necessary or desirable to complete construction of the Homes in substantially the same manner as contemplated by the Plans and Specifications, (e) employ architects, contractors, subcontractors, engineers, inspectors, and security guards, and other persons to perform services or furnish materials or equipment in connection with any action Lender takes under this Section, (f) continue any existing construction contracts or subcontracts, (g) pay, settle, or comprise any existing bills or claims which are or may become liens against the Lot or Home or may be necessary or desirable for the completion of the work or the clearing of title, (h) prosecute and defend all actions or proceedings in connection with the Lot or Home or the construction of the Homes; and (i) use any funds which remain unadvanced on the Loans for the purposes described in this Section. All amounts expended by Lender pursuant to this Section will be deemed to have been disbursed to Borrower as Advances and be secured by the Deed of Trust. For the purposes described in this Section and the enforcement of the terms and conditions of this Agreement, Borrower irrevocably appoints Lender as Borrower’s agent and attorney-in-fact with full power of substitution to exercise all of the rights and remedies granted to Lender by this Section. Borrower agrees that this power of attorney is coupled with an interest and cannot be revoked.
Complete Construction. If an Event of Default shall occur, then the City may, at its option, in addition to any other remedy available to it, enter upon and take charge of the Project and assume full charge of the Improvements and may complete the Improvements or enter into a contract with another to complete the same, and all amounts advanced for such purpose, including reasonable legal fees incurred by the incident to the enforcement of any provisions hereof, shall be an indebtedness of the Proponent to the City. All such amounts, even though they may, when added to the monies advanced and disbursed under this agreement, exceed the Loan, shall be secured by the Mortgage and other Security Documents
Complete Construction. Subject to the terms and conditions of this Agreement, the Developer will diligently pursue the development of the Project and, subject to delays resulting from events of Force Majeure, will complete construction of the Project no later than twenty-four (24) months following the date the Developer Commences Construction (the “Completion Date”).
Complete Construction. If an Event of Default shall occur, then the County may, at its option, in addition to any other remedy available to it, enter upon and take charge of the Project and assume full charge of the Project and may complete the Project or enter into a contract with another to complete the same, and all amounts advanced for such purpose, including reasonable legal fees incurred by the incident to the enforcement of any provisions hereof, shall be an indebtedness of the Proponent to the County. All such amounts, even though they may, when added to the monies advanced and disbursed under this agreement, exceed the Loan, shall be secured by the Mortgage and other Security Documents.
Complete Construction. Bondowner Representative may take over and complete any construction work, and, for that purpose may disburse or request Disbursement of equity money and Loan proceeds. Any contracts entered into or debts incurred on the exercise of such right may be in the name of Xxxxxxxx, and Bondowner Representative is hereby irrevocably appointed attorney-in-fact (the appointment being coupled with an interest) to enter into contracts, incur debts and obligations, enforce contracts or agreements theretofore made by or on behalf of Borrower, and to do any and all things necessary or proper to complete the work, including the signing of Borrower’s name to such contracts and documents, as may be deemed necessary by Xxxxxxxxx Representative. Bondowner Representative will not be required to use its own funds to complete construction work if undisbursed equity money and Loan proceeds are insufficient, but Bondowner Representative may advance such funds at its option. Any funds so advanced shall be payable to Bondowner Representative by Xxxxxxxx on demand together with interest at the Default Rate until paid and shall be secured by Bondowner Representative’s Lien in the Collateral.
Complete Construction. It is understood that all of the units to be transferred as set forth in Paragraph 1.1 have not as yet been completed. The Seller agrees to complete the construction as per the attached Plans and Specifications and as laid out in the approval of the municipality prior to December 15, 1996.
Complete Construction. It is understood that the units to be transferred as set forth in Paragraph 1.1 have not as yet been constructed. The Seller agrees to file with the City of Asheville within 60 days a set of Plans and Specifications, as exhibited to and approved by the Purchaser, for the construction of not less than 168 units. In the event that less than 168 units are approved by the City of Asheville, then the price set forth hereinafter shall be adjusted accordingly.
Complete Construction. Any Receiver may complete any unfinished construction upon or in the Collateral Property including the power to:
Complete Construction drawings for Tenant’s partition layout, reflected ceiling grid, telephone and electrical outlets, keying, and finish schedule.
Complete Construction. Developer shall complete all construction required for development of the Project. Within eighteen (18) months from the commencement of construction for the Project, but in no event later than November 1, 2011, subject to extensions granted by TCAC and approved by the Executive Director.
