Common use of Inspection of Mold Clause in Contracts

Inspection of Mold. If Funding Lender determines that Mold has or may have developed as a result of a water intrusion event or leak, Funding Lender, at Funding Lender’s Discretion, may require that a professional inspector inspect the Mortgaged Property to confirm whether Mold has developed and, if so, thereafter as frequently as Funding Lender determines is necessary until any issue with Mold and its cause(s) are resolved to Funding Lender’s satisfaction. Such inspection will be limited to a visual and olfactory inspection of the area that has experienced the Mold, water intrusion event or leak. Borrower will be responsible for the cost of each such professional inspection and any remediation deemed to be necessary as a result of the professional inspection. After any issue with Mold is remedied to Funding Lender’s satisfaction, Funding Lender will not require a professional inspection any more frequently than once every 3 years unless Funding Lender otherwise becomes aware of Mold as a result of a subsequent water intrusion event or leak.

Inspection of Mold. If Funding Lender determines that Mold has or may have developed as a result of a water intrusion event or leak, Funding Lender, at Lender in Funding Lender’s Discretion, Discretion may require that a professional inspector inspect the Mortgaged Property to confirm whether Mold has developed and, if so, thereafter as frequently as Funding Lender determines is necessary until any issue with Mold and its cause(s) are resolved to Funding LenderXxxxxx’s satisfaction. Such inspection will be limited to a visual and olfactory inspection of the area that has experienced the Mold, water intrusion event or leak. Borrower will be responsible for the cost of each such professional inspection and any remediation deemed to be necessary as a result of the professional inspection. After any issue with Mold Xxxx is remedied to Funding LenderXxxxxx’s satisfaction, Funding Lender will not require a professional inspection any more frequently than once every 3 years unless Funding Lender otherwise becomes aware of Mold as a result of a subsequent water intrusion event or leak.

Inspection of Mold. If Funding Lender determines that Mold has or may have developed as a result of a water intrusion event or leak, Funding Lender, at Funding Lender’s Discretion, may require that a professional inspector inspect the Mortgaged Property to confirm whether Mold has developed and, if so, thereafter as frequently as Funding Lender determines is necessary until any issue with Mold and its cause(s) are resolved to Funding Lender’s satisfaction. Such inspection will be limited to a visual and olfactory inspection of the area that has experienced the Mold, water intrusion event or leak. Borrower will be responsible for the cost of each such professional inspection and any remediation deemed to be necessary as a result of the professional inspection. After any issue with Mold Xxxx is remedied to Funding LenderXxxxxx’s satisfaction, Funding Lender will not require a professional inspection any more frequently than once every 3 years unless Funding Lender otherwise becomes aware of Mold as a result of a subsequent water intrusion event or leak.