Common use of Correcting Defects Clause in Contracts

Correcting Defects. Correct: (a) any structural defect in the Improvements; (b) any material departure from the Plans not approved in writing by the Lender; (c) other than Permitted Exceptions, any encroachment by any part of the Improvements or any other structures or improvements over or on any set-back line, easement, adjoining property, or other restricted area which is not permitted by the instrument creating such set-back line, easement, boundary line, or other restricted area; (d) other than Permitted Exceptions, any encroachment of any adjoining structure on the Land which any Survey or inspection reflects and which encroachment is not permitted by recorded instrument; and (e) any material non-compliance with any Legal Requirement. The making of any Advance by Lender shall not constitute a waiver of Lender’s right to require compliance with this Section 4.16. CONSTRUCTION LOAN AGREEMENT -- PAGE 31 (CYPRESS/FAIRFIELD)

Correcting Defects. Correct: : (a) any structural defect in the Improvements; (b) any material departure from the Plans not approved in writing by the Lender; (c) other than Permitted Exceptions, any encroachment by any part of the Improvements or any other structures or improvements over or on any set-back line, easement, adjoining property, or other restricted area which is not permitted by the instrument creating such set-back line, easement, boundary line, or other restricted area; (d) other than Permitted Exceptions, any encroachment of any adjoining structure on the Land which any Survey or inspection reflects and which encroachment is not permitted by recorded instrument; and (e) any material non-compliance with any Legal Requirement. The making of any Advance by Lender shall not constitute a waiver of Lender’s right to require compliance with this Section 4.16. CONSTRUCTION LOAN AGREEMENT -- PAGE 31 (CYPRESS/FAIRFIELD)