The output you are getting is not an error, but a warning. It is informing you that it is taking a long time for it to find "PlaceEvent" in ReplicatedStorage. There could be a couple causes for this.
Object isn't created yet
If you are creating the object in another script or moving the object into ReplicatedStorage, check that it doesn't have a separate error, causing it to abort before creating 'PlaceEvent'
Object is named Improperly
If it is being created properly, or it is in ReplicatedStorage from the beginning, check the name to make sure that it is EXACTLY 'PlaceEvent', otherwise your script will yield forever, never finding 'PlaceEvent'.
Those are the two possibilities for that warning, but remember it's only a warning and as soon as it finds that object the script will resume.
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