A&D Improvements definition

A&D Improvements means (i) those certain offsite improvements on the Property (including without limitation curbs, grading, storm and sanitary sewers, paving, sidewalks, landscaping, hardscaping, sprinklers, electric lines, gas lines, telephone lines, cable television lines, fiber optic lines, pipelines and other utilities) necessary to make the Property suitable for the construction of single family residential detached and attached homes thereon, and (ii) any common area improvements to be constructed on the Property.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

A&D Improvements means, for each and every Qualified Project financed hereunder, (i) those certain offsite improvements on the Property (including without limitation curbs, grading, storm and sanitary sewers, paving, sidewalks, landscaping, hardscaping, sprinklers, electric lines, gas lines, telephone lines, cable television lines, fiber optic lines, pipelines and other utilities) necessary to make the Property suitable for the construction of single family residential homes thereon, and (ii) any common area improvements to be constructed on the Property. For purposes of this Agreement, all such improvements for each and every Qualified Project funded by a Loan made hereunder shall be referred to individually and collectively in the singular.

A&D Improvements means the development improvements being made by Borrower or the applicable Project Guarantor on A&D Land, as set forth in the A&D Project Budget.

Examples of A&D Improvements in a sentence

• To the extent that A&D Loan proceeds disbursed by Lender pursuant to the Allocations set forth in the A&D Budget are insufficient to pay all costs required for the acquisition, development, construction and completion of the A&D Improvements for the Project, Borrower shall pay such excess costs for the A&D Improvements with funds derived from sources other than the specified Project Loan (i.e., Borrower’s own funds or Borrower’s Deposit, as applicable).

• No Advances shall be made to finance the construction of the A&D Improvements after the A&D Loan Maturity Date.

• From the date of this Agreement through the Project Loan Maturity Date, Lender may approve Advances under such Project Loan for the payment and/or reimbursement of costs for the construction of the A&D Improvements in accordance with the Allocations set forth in the A&D Budget approved specified in said Project Loan Sheet.

• For Lots Under Development, development and construction of the A&D Improvements for the applicable portion of the Land shall have commenced or shall be scheduled to begin within ninety (90) days of inclusion in the Borrowing Base as Lots Under Development; and, for Finished Lots, development and construction of the A&D Improvements for the applicable portion of the Land shall have been completed.

• The final, approved Budgets for the Project itemizing the Hard Costs and Soft Costs for the respective A&D Improvements and Home Improvements, including direct and indirect costs, certified to be correct to the best knowledge and belief of Borrower for each type of Improvement to be constructed as part of the Project.

• The A&D Budget may include line items for the improvement of various community facilities in connection with the construction of the A&D Improvements and the development of the Lots (said facilities being referred to herein as “CFD Improvements”).

• All said fees shall be fully earned and non-refundable regardless of whether the full sum of the Project Loan is disbursed or the outstanding sum of all Advances for the A&D Improvements are paid prior to the A&D Loan Maturity Date.

• Each Advance made for the Qualified Projects included within the Borrowing Base from time to time shall be for the purpose of paying for or reimbursing Borrower for certain costs and expenses incurred in connection with the acquisition of Land and the construction of A&D Improvements, Presold, Spec and/or Model Homes thereon and for other costs and expenses incidental to said Qualified Projects, as more particularly provided in this Agreement.

• Each Advance made for the Qualified Projects included within the Borrowing Base from time to time shall be for the purpose of paying for or reimbursing Borrower for certain costs and expenses incurred in connection with the construction of A&D Improvements, Presold, Spec and/or Model Homes thereon and for other costs and expenses incidental to said Qualified Projects, as more particularly provided in this Agreement.

• Lender may, in Lender’s discretion, disburse A&D Loan proceeds by journal entry to pay interest and financing costs and disburse A&D Loan proceeds directly to third parties to pay costs or expenses required to be paid by Borrower in connection with the acquisition of the Land and/or the construction of the A&D Improvements pursuant to this Agreement.

More Definitions of A&D Improvements

A&D Improvements means, for each and every Qualified Project financed hereunder, (i) those certain offsite improvements on the Property

A&D Improvements means Lots, streets, sidewalks, utilities, landscaping and other infrastructure, amenities or improvements in connection with the development of a residential subdivision.

A&D Improvements means, for each Project added to the Master Line, (i) certain offsite improvements on the Property included in such Project (including without limitation curbs, grading, storm and sanitary sewers, paving, sidewalks, landscaping, hardscaping, sprinklers, electric lines, gas lines, telephone lines, cable television lines, fiber optic lines, pipelines and other utilities) necessary to make such Property suitable for the construction of single family residential homes thereon, and (ii) any common area improvements to be constructed on such Property, and (iii) any other "site improvements" as described under applicable law.