Common use of Correction of Defects Clause in Contracts

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (i) any material defect in any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iii) any encroachment by any structure located on the Property upon any building line, easement, property line, or restricted area.

Appears in 7 contracts

Samples: Loan Agreement (United Development Funding Income Fund V), Loan Agreement (United Development Funding IV), Loan Agreement (United Development Funding Income Fund V)

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Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, (iib) any material departure in of the development Improvements from the Legal Requirements or the requirements of any part of the Property from the Development Plan Lease, and governmental requirements, or (iiic) any encroachment by any part of the Improvements or any structure located on the Property upon Land on any building line, easement, property line, or restricted area.

Appears in 3 contracts

Samples: Loan Agreement (Innovative Food Holdings Inc), Loan Agreement (Innovative Food Holdings Inc), Loan Agreement (Innovative Food Holdings Inc)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the New Improvements, (iib) any material departure in the development construction of the New Improvements from the Plans, Governmental Requirements, or the requirements of any part of the Property from the Development Plan and governmental requirementslessee, if applicable, or (iiic) any encroachment by any part of the New Improvements, or any structure located on the Property upon Property, on any building line, easement, property line, or restricted area, or any encroachment by any such structure on any building line, unless Borrower obtains permission for such encroachment.

Appears in 2 contracts

Samples: Disbursement Agreement (Campus Crest Communities, Inc.), Secured Construction Loan Agreement (Campus Crest Communities, Inc.)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iiib) any encroachment by any part of the Improvements or any other structure located on the Property upon on any building line, easement, property line, or restricted area.

Appears in 2 contracts

Samples: Loan Agreement (Capital Senior Living Corp), Loan Agreement (Capital Senior Living Corp)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the ImprovementsRestoration, (iib) any material departure in the development Restoration from the Plans and Specifications or the requirements of any part of the Property from the Development Plan and governmental requirements, applicable laws or (iiic) any encroachment by any part of the Restoration or any other structure located on the Property upon Land on any building line, easement, property line, or restricted area.

Appears in 1 contract

Samples: Reimbursement Agreement (El Conquistador Partnership Lp)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any defect in the Improvements, (b) any material defect departure in the construction of the Improvements from the Plans, Governmental Requirements, covenants, conditions and restrictions, if applicable, or (c) any encroachment by any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iii) any encroachment by any structure located on the Property upon Property, on any building line, easement, property line, or restricted area, or any encroachment by any such structure on any building line.

Appears in 1 contract

Samples: Acquisition and Construction Loan Agreement (Mego Financial Corp)

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Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iiib) any encroachment by any part of the Improvements or any other structure located on the Property upon or any Partnership Property on any building line, easement, property line, or restricted area.

Appears in 1 contract

Samples: Loan Agreement (Capital Senior Living Corp)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any defect in the Improvements, (b) any material defect departure in the renovation of the Improvements from the Plans, Governmental Requirements, covenants, conditions and restrictions, if applicable, or (c) any encroachment by any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iii) any encroachment by any structure located on the Property upon Property, on any building line, easement, property line, or restricted area, or any encroachment by any such structure on any building line.

Appears in 1 contract

Samples: Loan Agreement (Mego Financial Corp)

Correction of Defects. Unless approved in writing by Lender, Borrower shall correct or cause to be corrected (ia) any material defect in the Improvements, (b) any material departure in the construction of the Improvements from the Plans, Governmental Requirements, or the requirements of any lessee, if applicable, or (c) any encroachment by any part of the Improvements, (ii) any material departure in the development of any part of the Property from the Development Plan and governmental requirements, or (iii) any encroachment by any structure located on the Property upon Property, on any building line, easement, property line, or restricted area, or any encroachment by any such structure on any building line.

Appears in 1 contract

Samples: Agreement (Introgen Therapeutics Inc)

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