CRA Property definition
Examples of CRA Property in a sentence
During the Inspection Period, CRA shall permit Developer and its authorized representatives to inspect the CRA Property and to perform due diligence, surveys, soil analysis and environmental investigations.
Following such review and approval, the CRA hereby agrees to execute and deliver to the Developer in the CRA’s capacity as the owner of the CRA Property all applications and other submittals required to obtain the Development Approvals.
Developer hereby acknowledges and agrees that CRA has not made, does not make, and has not authorized anyone else to make any representation and warranty as to the present or future physical condition, value, financing status, leasing, operation, use, tax status, income and expenses and prospects, or any other matter or thing pertaining to the CRA Property, except as expressly set forth in this Agreement.
Developer shall itself (and shall require its consultants to) keep the CRA Property free and clear of all liens and encumbrances, including but not limited to mechanics’ liens, arising out of any of Developer’s (and such consultants’) activities on the CRA Property, including its consultants’ investigations.
CRA shall not be liable for, or be bound by, any verbal or written statements, representations or information pertaining to the CRA Property furnished by any employee, agent, servant or any other person unless the same are specifically set forth in writing in this Agreement.
To the extent that Developer or any of its representatives, agents or contractors damages or disturbs the CRA Property or any portion thereof, Developer shall return the same to substantially the same condition which existed immediately prior to such damage or disturbance.
The CRA shall have the right to terminate this Agreement for reasons related to the environmental condition of the CRA Property at, on or before said time and date of expiration of the Inspection Period by giving written notice to the Developer of such election to terminate.
Developer shall have until the expiration of the Inspection Period to determine, in Developer’s sole opinion and discretion, the suitability of the CRA Property for the Project.
The Project will be developed on the Property with the CRA Property being contributed by the CRA to the Developer in accordance with the terms and conditions of this Agreement.
All inspection fees, appraisal fees, engineering fees and all other costs and expenses of any kind incurred by Developer relating to its the inspection of the CRA Property for itself and/or its lender (collectively, the “Inspection Costs”) shall be the responsibility of and paid for by the Developer.