Common use of After Completion Clause in Contracts

After Completion. After completion of construction of the Project, Developer, and its successors and assigns, shall keep the Project adequately insured against loss or damage occasioned by fire, extended coverage perils (to specifically include coverage for wind, storm and similar natural disaster and hazards) as Developer's first mortgage lender(s) may require, which shall remain in effect until the Village has been paid, from real estate taxes imposed on the Property and owed to the Village, an amount equal to the total amount of incentive grants issued to Developer under this Agreement. All insurance policies obtained to satisfy this requirement shall include a provision that they shall not be terminated, amended or canceled without at least 30 days prior written notice to the Village. If any portion of the Project is substantially damaged or destroyed by fire, wind, storm, mold, bacteria or any other cause prior to the end of the Term of this Agreement, as provided in Section I.19, Developer shall promptly rebuild or repair the damaged or destroyed portions of the Project. Developer shall provide the Village with a certificate of insurance from its insurance carrier evidencing the required coverage not later than 30 days after the initial effective date thereof and upon each renewal.

After Completion. After completion of construction of the Project, Developer, and its successors and assigns, shall keep the Project adequately insured against loss or damage occasioned by fire, extended coverage perils (to specifically include coverage for wind, storm and similar natural disaster and hazards) as Developer's first mortgage lender(s) may require, which shall remain in effect until the Village has been paid, from room taxes and real estate taxes imposed on the Property and owed to the Village, an amount equal to the total amount of incentive grants issued to Developer under this Agreement. All insurance policies obtained to satisfy this requirement shall include a provision that they shall not be terminated, amended or canceled without at least 30 days prior written notice to the Village. If any portion of the Project is substantially damaged or destroyed by fire, wind, storm, mold, bacteria or any other cause prior to the end of the Term of this Agreement, as provided in Section I.19F.20, Developer shall promptly rebuild or repair the damaged or destroyed portions of the Project. Developer shall provide the Village with a certificate of insurance from its insurance carrier evidencing the required coverage not later than 30 days after the initial effective date thereof and upon each renewal.

After Completion. After completion of construction of the Project, Developer, and its successors and assigns, shall keep the Project adequately insured against loss or damage occasioned by fire, extended coverage perils (to specifically include coverage for wind, storm and similar natural disaster and hazards) as Developer's first mortgage lender(s) may require, which shall remain in effect until the Village has been paid, from real estate taxes imposed on the Property and owed to the Village, an amount equal to the total amount of incentive grants closing credit issued to Developer under this Agreement. All insurance policies obtained to satisfy this requirement shall include a provision that they shall not be terminated, amended or canceled without at least 30 days prior written notice to the Village. If any portion of the Project is substantially damaged or destroyed by fire, wind, storm, mold, bacteria or any other cause prior to the end of the Term of this Agreement, as provided in Section I.19, Developer shall promptly rebuild or repair the damaged or destroyed portions of the Project. Developer shall provide the Village with a certificate of insurance from its insurance carrier evidencing the required coverage not later than 30 days after the initial effective date thereof and upon each renewal.

After Completion. After completion of construction of the Project, Developer, and its successors and assigns, shall keep the Project adequately insured against loss or damage occasioned by fire, extended coverage perils (to specifically include coverage for wind, storm and similar natural disaster and hazards) as Developer's first mortgage lender(s) may require, which shall remain in effect until the Village has been paid, from real estate taxes imposed on the Property and owed to the Village, an amount equal to the total amount of incentive grants issued to Developer under this AgreementTax Payment Guarantee Termination Date. All insurance policies obtained to satisfy this requirement shall include a provision that they shall not be terminated, amended or canceled without at least 30 days prior written notice to the Village. If any portion of the Project is substantially damaged or destroyed by fire, wind, storm, mold, bacteria or any other cause prior to the end of the Term of this Agreement, as provided in Section I.19H.18, Developer shall shall, subject to the availability of insurance proceeds and the rights of the first mortgage lender, promptly rebuild or repair the damaged or destroyed portions of the Project. Developer shall provide the Village with a certificate of insurance from its insurance carrier evidencing the required coverage not later than 30 days after the initial effective date thereof and upon each renewal.

After Completion. After completion of construction of the Project, Developer, and its successors and assigns, shall keep the Project adequately insured against loss or damage occasioned by fire, extended coverage perils (to specifically include coverage for wind, storm and similar natural disaster and hazards) as Developer's ’s first mortgage lender(s) may require, which shall remain in effect until the Village has been paid, from real estate taxes imposed on the Property and owed to the Village, an amount equal to the total amount of incentive grants issued to Developer under this Agreement. All insurance policies obtained to satisfy this requirement shall include a provision that they shall not be terminated, amended or canceled without at least 30 days prior written notice to the Village. If any portion of the Project is substantially damaged or destroyed by fire, wind, storm, mold, bacteria or any other cause prior to the end of the Term of this Agreement, as provided in Section I.19, Developer shall promptly rebuild or repair the damaged or destroyed portions of the Project. Developer shall provide the Village with a certificate of insurance from its insurance carrier evidencing the required coverage not later than 30 days after the initial effective date thereof and upon each renewal.