Current Survey. Borrower will furnish to Lender, if Lender reasonably believes that any New Improvements encroach on the adjoining property, at any stage of construction, upon reasonable request from Lender, an updated current Survey reflecting that the New Improvements and all other New Improvements on the Property are entirely within the boundary lines of the Property and do not encroach upon any public road, waterway, setback line (except only pursuant to a valid permit or competent Governmental Authority) or breach or violate any material Governmental Requirements or other legal requirements or that no adjoining structure encroaches upon the Property and Borrower is unable to obtain an appropriate waiver or easement for such encroachment.
Appears in 2 contracts
Sources: Secured Construction Loan Agreement (Campus Crest Communities, Inc.), Secured Construction Loan Agreement (Campus Crest Communities, Inc.)