Common use of Time to Complete Clause in Contracts

Time to Complete. A final Compliance Inspection Report from the approved Appraiser stating all Work has been satisfactorily completed, Contractor’s Lien Release and the Borrower’s Letter of Completion must be received by the Lender within two weeks of completion or forty-five (45) days of the date of the note, whichever is earlier. If, for whatever reason, the final inspection verifying that all Work is completed is not received within forty-five (45) days of the date of the note, the Lender has the right to make a principal reduction payment with the funds being held in escrow. If the funds held in escrow are used to make a principal reduction, the final payment to the Contractor will not be available from the Lender unless the Lender has agreed in writing through an approved Change Order to extend such time.

Time to Complete. A final Compliance Inspection Report from the approved Appraiser stating all Work has been satisfactorily completed, Contractor’s Lien Release and the Borrower’s Letter of Completion must be received by the Lender within two weeks of completion or forty-five six (456) days months of the date of the note, whichever is earlier. If, for whatever reason, the final inspection verifying that all Work is completed is not received within forty-five six (456) days months of the date of the note, the Lender has the right to make a principal reduction payment with the funds being held in escrow. If the funds held in escrow are used to make a principal reduction, the final payment to the Contractor will not be available from the Lender unless the Lender has agreed in writing through an approved Change Order to extend such time.

Time to Complete. A final Compliance Inspection Report from the approved Appraiser stating all Work has been satisfactorily completed, Contractor’s Lien Release and the Borrower’s Letter of Completion must be received by the Lender within two weeks of completion or forty-five sixty (4560) days of the date of the note, whichever is earlier. If, for whatever reason, the final inspection verifying that all Work is completed is not received within forty-five sixty (4560) days of the date of the note, the Lender has the right to make a principal reduction payment with the funds being held in escrow. If the funds held in escrow are used to make a principal reduction, the final payment to the Contractor will not be available from the Lender unless the Lender has agreed in writing through an approved Change Order to extend such time.

Time to Complete. A final Compliance Inspection Report from the approved Appraiser stating all Work has been satisfactorily completed, Contractor’s Lien Release and the Borrower’s Letter of Completion must be received by the Lender within two weeks of completion or forty-five ninety (4590) days of the date of the note, whichever is earlier. If, for whatever reason, the final inspection verifying that all Work is completed is not received within forty-five ninety (4590) days of the date of the note, the Lender has the right to make a principal reduction payment with the funds being held in escrow. If the funds held in escrow are used to make a principal reduction, the final payment to the Contractor will not be available from the Lender unless the Lender has agreed in writing through an approved Change Order to extend such time.