Common use of The Project Documents Clause in Contracts

The Project Documents. (a) A FIRREA complying appraisal of the Project, showing an appraised value of not less than $2,200,000 and otherwise satisfactory to Lender, receipt and acceptance of which is hereby acknowledged; and (b) A Phase I environmental report in form and content acceptable to Lender in its sole and absolute discretion, showing no substantial environmental hazards on the Project, receipt and acceptance of which is hereby acknowledged; and (c) Evidence satisfactory to Lender of policies of insurance coverage on the Property and the Project in the amount required by the Mortgage; (d) A policy of flood insurance naming Lender as additional insured, covering the Property and the Improvements in the maximum amount available, or evidence satisfactory to Lender that the Property and Improvements are not located within a designated flood plain; (e) A letter from the appropriate governmental entity stating the zoning classification which is applicable to the Property and stating that the use of the Project is a permitted use under such zoning classification; and

The Project Documents. (a) A FIRREA complying appraisal of the Project, showing an appraised value of not less than $2,200,000 2,200.000 and otherwise satisfactory to Lender, receipt and acceptance of which is hereby acknowledged; and (b) A Phase I environmental report in form and content acceptable to Lender in its sole and absolute discretion, showing no substantial environmental hazards on the Project, receipt and acceptance of which is hereby acknowledged; and (c) Evidence satisfactory to Lender of policies of insurance coverage on the Property and the Project in the amount required by the Mortgage; (d) A policy of flood insurance naming Lender as additional insured, covering the Property and the Improvements in the maximum amount available, or evidence satisfactory to Lender that the Property and Improvements are not located within a designated flood plain; (e) A letter from the appropriate governmental entity stating the zoning classification which is applicable to the Property and stating that the use of the Project is a permitted use under such zoning classification; and