Set Aside Letters. If, at Borrower’s request, Bondowner Representative issues any letter or letters (“Set Aside Letter”) to any governmental agency (“Obligee”) or bonding company (“Surety”) whereby Bondowner Representative agrees to allocate Loan proceeds for the construction of off-site, common area, or other improvements required by any governmental agency or for which bonds may be required (“Bonded Work”) in connection with the development of the Property, Borrower represents, warrants, covenants and agrees as follows:
Appears in 3 contracts
Samples: Loan Agreement, Loan Agreement, Loan Agreement
Set Aside Letters. If, at Borrower’s request, Bondowner Representative issues any letter or letters (“Set Aside Letter”) to any governmental agency (“Obligee”) or bonding company (“"Surety”) whereby Bondowner Representative agrees to allocate Loan proceeds for the construction of off-site, common area, or other improvements required by any governmental agency or for which bonds may be required (“Bonded Work”) in connection with the development of the Property, Borrower represents, warrants, covenants and agrees as follows:
Appears in 1 contract
Samples: Loan Agreement