Special Flood Zone Area Maps definition

Special Flood Zone Area Maps. Federal law requires that as a condition of obtaining federally related financing on most properties located in "flood zones," banks, savings and loan associations, and some insurance lenders require flood insurance to be carried where the property, real or personal, is security for a loan. This requirement is mandated by the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973. The purpose of the program is to provide flood insurance to property owners at a reasonable cost. Cities or counties participating in the National Flood Insurance Program may have adopted building or zoning restrictions, or other measures, as part of their participation in the program. You should contact the city or county in which the property is located to determine any such restrictions. The extant of coverage available in your area and the cost of this coverage may vary, and for further information, you should consult your lender or insurance carrier. Lessee shall be solely responsible for confirming the above stated Special Flood Hazard Area designation, and for investigation of the impact of such designation on Lessee's intended use of the Property. Flood Zone Designation: Zone_______.
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Special Flood Zone Area Maps. Federal law requires that as a condition of obtaining federally related financing on most properties located in "flood zones," banks, savings and loan associations, and some insurance lender require flood insurance to be carried where the property, real or personal, is security for a loan. This requirement is mandated by the national Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973. The purpose of the program is to provide flood insurance to property owners at a reasonable cost. Cities or counties participating in the National Flood Insurance Program may have adopted building or zoning restrictions, or other measures, as part of their participation in the program. You should contact the city or county in which the property is located to determine any such restrictions. The extent of coverage available in your area and the cost of this coverage may vary, and for further information, you should consult your lender or insurance carrier.
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Special Flood Zone Area Maps. The applicable law requires that as a condition of obtaining financing on most properties located in "flood zones," banks, savings and loan associations, and some insurance lenders will require that H.U.D.
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Examples of Special Flood Zone Area Maps in a sentence

  • The Property is or may be located in a Special Flood Hazard Area on United States Department of Housing and Urban Development (H.U.D.) "Special Flood Zone Area Maps".

  • The Property is or may be located in a Special Flood Hazard Area on United States Department of Housing and Urban Development (H.U.D.) "Special Flood Zone Area Maps." Federal law requires that as a condition of obtaining federally related financing on most properties located in "flood zones," banks, savings and loan associations, and some insurance lenders require flood insurance be carried where the property, real or personal, is security for a loan.

  • Seller discloses that the property is not located in a "flood zone," as set forth on H.U.D. "Special Flood Zone Area Maps." As a condition to obtaining financing on most properties located in "flood zones," some banks, savings and loan associations and insurance lenders require that H.U.D. flood insurance be carried where such properties are security for the loan.

  • The Premises may ---------------------------------------------------- be located in a "flood zone" as set forth on United States Department of Housing and Urban Development ("H.U.D.") "Special Flood Zone Area Maps." The applicable law requires that as a condition of obtaining financing on most properties located in "flood zones," banks, savings and loan associations, and some insurance lenders will require that H.U.D.

  • Therefore, because appellants requested costs and attorney fees pursuant to I.C. § 74-116(2) only, we need not address whether they would have been entitled to costs and attorney fees under any other statute.

  • Seller discloses that the Property is located in a "flood zone", as set forth on HUD "Special Flood Zone Area Maps".


More Definitions of Special Flood Zone Area Maps

Special Flood Zone Area Maps. As a condition to obtaining financing on most properties located in "flood zones," some banks, savings and loan associations and insurance lenders require that H.U.D. flood insurance be carried where such properties are security for the loan. This requirement is mandated by the H.U.D. National Flood Insurance Program and became effective March 1, 1975. Purchaser acknowledges that Purchaser has not received or relied upon any representations from either Seller or Broker(s) regarding the legal effect, interpretation or economic consequences of the National Flood Insurance Program and related legislation. 15. Special Studies Zone Act: Seller discloses that the property is not situated in a Special Study Zone as designated under the Axxxxxx-Xxxxxx Special Studies Zone Act, Sections 2621-2630, inclusive, of the California Public Resources Code, or otherwise in an area of the high geologic hazard ("Geologic Zone"). If the Property is in a Geologic Zone, the construction or development on the Property of any structure for human occupancy may be subject to the findings of a geologic report prepared by a geologist registered in the State of California. 16.
Sample 1
Special Flood Zone Area Maps. Federal law requires that as a condition of obtaining federally related financing on most properties located in "flood zones", banks, savings and loan associations, and some insurance lenders require flood insurance be carried where the property, real or personal, is security for a loan. This requirement is mandated by the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973. Cities or counties may have adopted building or zoning restrictions, or other measures which could affect the value of the property. Lessee/Purchaser should contact the city or county in which the property is located to determine any such restrictions. The extent of coverage available in this area and the cost of this coverage may vary, and for further information, Lessee/Purchaser should consult a lender or insurance carrier. 3. Hazardous Wastes of Substances and Underground Storage Tanks: Comprehensive federal and state laws and regulations have been enacted in the past several years in an effort to control the use, storage, handling, clean-up, removal and disposal of hazardous wastes or substances. Some of these laws and regulations (such as, for example, the Comprehensive Environmental Response Compensation and Liability Act [CERCLA]) provide for broad liability on the part of owners, tenants or other users of the property for clean-up costs and damages regardless of fault. Other laws and regulations set standards for the handling of asbestos, and establish requirements for the use, modification, abandonment, and closure of underground storage tanks. It is not practical or possible to list all such laws and regulations in this Notice. Therefore, Sxxxxxx and Purchasers are urged to consult legal counsel to determine their respective rights and liabilities with respect to the issues described in this Notice, as well as all other aspects of the proposed transaction. If hazardous wastes or substances have been, or are going to be used, stored, handled or disposed of on the Property, or if the Property has or may have underground storage tanks, it is essential that legal and technical advice be obtained to determine, among other things, the nature of permits and approvals which have been obtained or may be required; the estimated costs and expenses associated with the use, storage, handling, clean-up, disposal or removal of hazardous wastes or substances; and the nature and extent of contractual provisions necessary or desirable in this transaction. Bxxxxx...
Sample 1
Special Flood Zone Area Maps. As a condition to obtaining financing on most properties located in "flood zones," some banks, savings and loan associations and insurance lenders require that H.U.D. flood insurance be carried where such properties are security for the loan. This requirement is mandated by the H.U.D. National Flood Insurance Program and became effective March 1, 1975. Buyer acknowledges that Buyer has not received or relied upon any representations from either Seller or Broker(s) regarding the application, legal effect, interpretation or economic consequences of the National Flood Insurance Program and related legislation.
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Related to Special Flood Zone Area Maps

  • Flood Zone means areas having special flood hazards as described in the National Flood Insurance Act of 1968, as amended from time to time, and any successor statute.

  • Special Flood Hazard Area means an area that FEMA’s current flood maps indicate has at least a one percent (1%) chance of a flood equal to or exceeding the base flood elevation (a 100-year flood) in any given year.

  • Flood hazard area means any area subject to inundation by the base flood or risk from channel migration including, but not limited to, an aquatic area, wetland, or closed depression.

  • Flood Hazard Property means any Mortgaged Property that is in an area designated by the Federal Emergency Management Agency as having special flood or mudslide hazards.

  • Environmental Hazard means any substance the presence, use, transport, abandonment or disposal of which (i) requires investigation, remediation, compensation, fine or penalty under any Applicable Law (including, without limitation, the Comprehensive Environmental Response Compensation and Liability Act, Superfund Amendment and Reauthorization Act, Resource Conservation Recovery Act, the Occupational Safety and Health Act and provisions with similar purposes in applicable foreign, state and local jurisdictions) or (ii) poses risks to human health, safety or the environment (including, without limitation, indoor, outdoor or orbital space environments) and is regulated under any Applicable Law.