Development and Construction. Borrower shall commence the on-site physical development of the Land on or before May 20, 2015 and shall commence vertical Unit construction on or before February 20, 2016 in accordance with the terms and provisions of this Loan Agreement and will pursue the same in good faith with diligence and continuity in accordance with the Plans and Specifications.
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Development and Construction. Borrower shall commence the on-site physical development of the Land on or before May 20December 15, 2015 2016 and shall commence vertical Unit construction on or before February 20March 15, 2016 2017 in accordance with the terms and provisions of this Loan Agreement and will pursue the same in good faith with diligence and continuity in accordance with the Plans and Specifications.
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