Construction Phase. the Construction Phase shall mean the period of time from the date of this Agreement until up to twenty-four (24) months after the construction permit is received hereafter (the "Construction Phase Maturity Date"). Under no circumstances shall the Construction Phase Maturity Date extend beyond September 30, 2014. In the event, however, that the Borrower properly exercises its option to convert the Loan to a Permanent Loan in accordance with Article V, the Construction Phase shall end on the day immediately preceding the commencement of the Permanent Phase as provided in Section 5.3.
Appears in 9 contracts
Sources: Construction/Permanent Second Deed of Trust Loan Agreement, Construction/Permanent Second Deed of Trust Loan Agreement, Fifth Deed of Trust Loan Agreement
Construction Phase. the The Construction Phase shall mean the period of time from the date of this Agreement until up to twenty-four (24) months after the construction permit is received hereafter (the "Construction Phase Maturity Date"). Under no circumstances shall the Construction Phase Maturity Date extend beyond September 30May 31, 2014. In the event, however, that the Borrower properly exercises its option to convert the Loan to a Permanent Loan in accordance with Article V, the Construction Phase shall end on the day immediately preceding the commencement of the Permanent Phase as provided in Section 5.3.
Appears in 6 contracts
Sources: Forgivable Construction/Permanent Loan Agreement, Forgivable Construction/Permanent Loan Agreement, Forgivable Construction/Permanent Loan Agreement
Construction Phase. the The Construction Phase shall mean the period of time from the date of this Agreement until up to twenty-four (24) months after the construction permit is received hereafter (the "Construction Phase Maturity Date"). Under no circumstances shall the Construction Phase Maturity Date extend beyond September 30May 31, 20142016. In the event, however, that the Borrower properly exercises its option to convert the Loan to a Permanent Loan in accordance with Article V, the Construction Phase shall end on the day immediately preceding the commencement of the Permanent Phase as provided in Section 5.3.
Appears in 5 contracts
Sources: Forgivable Construction/Permanent Loan Agreement, Forgivable Construction/Permanent Loan Agreement, Forgivable Construction/Permanent Loan Agreement
Construction Phase. the Construction Phase shall mean the period of time from the date of this Agreement until up to twenty-four (24) months after the construction permit is received hereafter (the "Construction Phase Maturity Date"). Under no circumstances shall the Construction Phase Maturity Date extend beyond September November 30, 20142016. In the event, however, that the Borrower properly exercises its option to convert the Loan to a Permanent Loan in accordance with Article V, the Construction Phase shall end on the day immediately preceding the commencement of the Permanent Phase as provided in Section 5.3.
Appears in 3 contracts
Sources: Construction Loan Agreement, Construction Loan Agreement, Construction Loan Agreement
Construction Phase. the Construction Phase shall mean the period of time from the date of this Agreement until up to twenty-four (24) months after the construction permit is received hereafter (the "Construction Phase Maturity Date"). Under no circumstances shall the Construction Phase Maturity Date extend beyond September 30March 31, 20142018. In the event, however, that the Borrower properly exercises its option to convert the Loan to a Permanent Loan in accordance with Article V, the Construction Phase shall end on the day immediately preceding the commencement of the Permanent Phase as provided in Section 5.3.
Appears in 3 contracts
Sources: Construction Loan Agreement, Construction Loan Agreement, Construction Loan Agreement
Construction Phase. the The Construction Phase shall mean the period of time from the date of this Agreement until up to twenty-four (24) months after the construction permit is received hereafter (the "Construction Phase Maturity Date"). Under no circumstances shall the Construction Phase Maturity Date extend beyond September 30July 31, 20142017. In the event, however, that the Borrower properly exercises its option to convert the Loan to a Permanent Loan in accordance with Article V, the Construction Phase shall end on the day immediately preceding the commencement of the Permanent Phase as provided in Section 5.3.
Appears in 2 contracts
Sources: Home Construction/Permanent Loan Agreement, Home Construction/Permanent Loan Agreement
Construction Phase. the The Construction Phase shall mean the period of time from the date of this Agreement until up to twenty-twenty four (24) months after the construction permit is received hereafter (the "Construction Phase Maturity Date"). Under no circumstances shall the Construction Phase Maturity Date extend beyond September 30May 31, 20142013. In the event, however, that the Borrower properly exercises its option to convert the Loan to a Permanent Loan in accordance with Article V, the Construction Phase shall end on the day immediately preceding the commencement of the Permanent Phase as provided in Section 5.3.
Appears in 2 contracts
Sources: Construction Loan Agreement, Construction Loan Agreement
Construction Phase. the The Construction Phase shall mean the period of time from the date of this Agreement until up to twenty-four (24) months after the construction permit is received hereafter (the "Construction Phase Maturity Date"). Under no circumstances shall the Construction Phase Maturity Date extend beyond September 30, 20142016. In the event, however, that the Borrower properly exercises its option to convert the Loan to a Permanent Loan in accordance with Article V, the Construction Phase shall end on the day immediately preceding the commencement of the Permanent Phase as provided in Section 5.3.
Appears in 1 contract