Predevelopment Component Sample Clauses
The Predevelopment Component clause defines the scope and responsibilities related to activities that must be completed before the main development phase of a project begins. Typically, this includes tasks such as site assessments, feasibility studies, securing permits, or preparing initial designs, and it may specify which party is responsible for each task and how costs are allocated. By clearly outlining these preliminary requirements, the clause ensures that all necessary groundwork is completed in an organized manner, reducing the risk of delays or misunderstandings once the primary development work starts.
Predevelopment Component. The Commission shall cause all work associated with the Predevelopment Component in compliance with the requirements of California Labor Code Section 1720 et seq.
Predevelopment Component. Borrower shall secure its obligation to repay the Predevelopment Component, as evidenced by the Predevelopment Component Note, by executing the Assignment of Plans delivering such executed document to the County.
Predevelopment Component. 33 Section 6.1 Predevelopment Component Activities. 33 Section 6.2 Environmental Remediation Agreements and Response Plan. 33 Section 6.3 State Water Resource Control Board Remediation Funding Application. 34 Section 6.4 Pollution Legal Liability Coverage. 35 TABLE OF CONTENTS Section 6.5 Relocation and Demolition Activities. 35 Section 6.6 Commencement and Completion of Remediation Work. 36 Section 6.7 Public Infrastructure Financing. 37 Section 6.8 Commencement and Completion of Infrastructure Improvements. 38
Predevelopment Component. The County is not obligated to make a disbursement of the Predevelopment Component prior to the Acquisition Closing, or to take any other action under the Loan Documents unless the following conditions precedent are satisfied:
(1) There exists no Event of Default nor any act, failure, omission or condition that would constitute an Event of Default under this Agreement;
(2) Borrower holds, or along with the first disbursement will hold, good and marketable fee title to the Property;
(3) ▇▇▇▇▇▇▇▇ has delivered to the County a copy of ▇▇▇▇▇▇▇▇'s organizational documents and a corporate authorizing resolution authorizing ▇▇▇▇▇▇▇▇'s execution of the Loan Documents and the transactions contemplated by the Loan Documents;
(4) There exists no material adverse change in the financial condition of Borrower from that shown by the financial statements and other data and information furnished by Borrower to the County prior to the date of this Agreement;
(5) Borrower has furnished the County with evidence of the insurance coverage meeting the requirements of Section 4.14 below;
(6) ▇▇▇▇▇▇▇▇ has caused to be executed and delivered to the County the Loan Documents and any other instruments, and policies required under the Loan Documents;
(7) The Deed of Trust and the Regulatory Agreement have been recorded against the Property in the Office of the Recorder of the County of San Bernardino, and recorded copies have been delivered to the County;
(8) Borrower is in compliance with the Schedule of Performance;
(9) All environmental review necessary for the construction of the Development has been completed, and ▇▇▇▇▇▇▇▇ has provided the County evidence of compliance with all CEQA and NEPA mitigation measures;
(10) The County has determined the undisbursed proceeds of the Loan, together with other funds or firm commitments for funds that Borrower has obtained in connection with the acquisition and construction of the Development, are not less than the amount the County determines is necessary to pay for the acquisition and construction of the Development and to satisfy all of the covenants contained in this Agreement and the Regulatory Agreement;
(11) A title insurer reasonably acceptable to the County is unconditionally and irrevocably committed to issuing an LP-10 2006 ALTA Lender's Policy of title insurance insuring the priority of the Deed of Trust in the amount of the Loan, subject only to such exceptions and exclusions as may be reasonably acceptable to the County, and c...
Predevelopment Component. Developer shall use the Predevelopment Component to partially fund the Predevelopment Obligations, subject to the disbursement conditions set forth in Section 3.6 below.