Common use of Unexpected Events Clause in Contracts

Unexpected Events. 1.7.1. If Builder at any time creates an unsafe condition upon the Inventory Homesites or any portion of the Property, as determined by Owner in its sole discretion, then Owner may (but shall not be obligated to), and in addition to exercising Owner’s other rights and remedies arising from Builder’s Default, put the Inventory Homesites in a safe condition (and notify Builder thereof), whereupon Owner shall have the right to recover from Builder all of Owner’s actual third-party costs and expenses incurred to reasonably rectify the unsafe condition, together with interest thereon at the Default Rate from the date incurred until the date paid. Upon the termination of this Agreement for any reason, Builder shall leave the Inventory Homesites, and any sidewalk, street or land adjacent thereto, in a safe condition and cause the removal of any liens against the Inventory Homesites, and any sidewalk, street or land adjacent thereto, which were recorded against the Inventory Homesites, and any sidewalk, street or land adjacent thereto, as a result of Builder’s activities thereon. 1.7.2. Within twenty (20) business days following the recordation of any mechanics’ lien or similar encumbrance on any Inventory Homesites, Builder shall cause any such lien or encumbrance to be immediately discharged or bonded over in a manner satisfactory to Owner in its sole discretion and in such fashion so as to enable a licensed title insurer in the State in which the Property is located to insure title to the Inventory Homesite(s) without reference to the claimed lien or encumbrance. Builder shall indemnify, defend and hold harmless Owner for, from and against any such liens or encumbrances.