TO LENDER THE TITLE POLICY, TOGETHER WITH
LEGIBLE COPIES OF ALL TITLE EXCEPTION DOCUMENTS CITED IN THE TITLE POLICY AND
ALL OTHER LEGAL DOCUMENTS AFFECTING THE PROJECT OR THE USE THEREOF;
(H)
BORROWER SHALL HAVE FURNISHED TO LENDER AN ALTA/ACSM LAND TITLE SURVEY
OF THE PROJECT AND ANY AND ALL EXISTING PLATS REGARDING THE PROJECT;
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(I)
BORROWER SHALL HAVE FURNISHED LENDER WITH EVIDENCE OF ZONING OR A COPY
OF THE FINAL APPROVED PLANNED UNIT DEVELOPMENT ("PUD") MAP, PRELIMINARY
DEVELOPMENT PLAN ("PDP") OR OTHER DEVELOPMENT PLAN FOR THE PROJECT PERMITTING
THE CONSTRUCTION OF THE IMPROVEMENTS AND CONTAINING ALL USE OR BUILDING
CONDITIONS OR RESTRICTIONS AFFECTING THE PROJECT AND APPROVED BY THE APPROPRIATE
GOVERNMENTAL AUTHORITY;
(J)
BORROWER SHALL HAVE FURNISHED TO LENDER CERTIFIED COPIES OF THE ISSUED
ENTITLEMENTS AND ALL OTHER GOVERNMENTAL APPROVALS AND PERMITS THEN REQUIRED FOR
THE PROJECT;
(K)
BORROWER SHALL HAVE FURNISHED LENDER WITH POLICIES OR BINDERS
EVIDENCING THAT BORROWER HAS OBTAINED AND MAINTAINS INSURANCE COVERAGE IN
RESPECT OF BORROWER AND THE PROJECT IN ACCORDANCE WITH THE PROVISIONS OF SECTION
16.2 BELOW, AND PAID ALL INSURANCE PREMIUMS IN RESPECT THEREOF;
(L)
ALL OF THE REPRESENTATIONS OF BORROWER AND GUARANTOR SET FORTH IN THE
LOAN DOCUMENTS SHALL BE TRUE AND CORRECT IN ALL MATERIAL RESPECTS;
(M)
BORROWER SHALL HAVE FURNISHED LENDER WITH AN OPINION(S) FROM COUNSEL TO
BORROWER, MEMBER AND GUARANTOR AS TO DUE FORMATION, VALID EXISTENCE AND GOOD
STANDING OF BORROWER, MEMBER AND GUARANTOR, AUTHORIZATION, DUE EXECUTION AND
DELIVERY OF THE LOAN DOCUMENTS, ENFORCEABILITY AND PERFECTION OF THE LOAN
DOCUMENTS, AND SECURITY INTERESTS, USURY, ZONING AND LAND USE ENTITLEMENTS,
MARKETING AND SALE OF UNITS IN ACCORDANCE WITH APPLICABLE LAW, AND SUCH OTHER
MATTERS AS LENDER MAY REASONABLY REQUEST.
(N)
BORROWER SHALL HAVE FURNISHED LENDER WITH THE NON-CONSOLIDATION
OPINION;
(O)
BORROWER SHALL HAVE FURNISHED LENDER WITH AN ZONING REPORT FROM PBR
HAWAII AS TO VIOLATIONS AND ZONING, AND USE OF PROPERTY AND OTHER NON-ZONING
LAND USE PERMITS.
(P)
BORROWER SHALL HAVE FURNISHED LENDER WITH CURRENT BANKRUPTCY, FEDERAL
TAX LIEN, LITIGATION, JUDGMENT AND UCC SEARCHES IN RESPECT OF BORROWER, MEMBER
AND GUARANTOR;
(Q)
BORROWER SHALL HAVE FURNISHED LENDER WITH CURRENT ANNUAL FINANCIAL
STATEMENTS OF MEMBER AND GUARANTOR, EACH IN FORM SATISFACTORY TO LENDER AND EACH
CERTIFIED AS BEING TRUE, COMPLETE AND CORRECT BY THE PARTY TO WHICH IT RELATES;
(R)
BORROWER SHALL HAVE FURNISHED LENDER WITH PROOF SATISFACTORY TO LENDER
OF ITS AUTHORITY, FORMATION AND GOOD STANDING IN THE STATE OF ITS FORMATION AND
QUALIFICATION IN THE STATE OF HAWAII;
(S)
BORROWER SHALL HAVE FURNISHED LENDER WITH (I) CERTIFIED COPIES OF ALL
ACTION TAKEN BY BORROWER, MEMBER AND ANY OTHER PRINCIPAL OF BORROWER TO
AUTHORIZE THE EXECUTION, DELIVERY AND PERFORMANCE, IN ACCORDANCE WITH ITS TERMS,
OF THIS AGREEMENT, THE MORTGAGE, THE NOTE, EACH OF THE OTHER LOAN DOCUMENTS AND
ANY OTHER DOCUMENTS REQUIRED OR CONTEMPLATED HEREUNDER OR THEREUNDER TO WHICH IT
IS A PARTY; (II) A CERTIFICATE OF INCUMBENCY WITH RESPECT TO THE REPRESENTATIVES
OF EACH BORROWER, MEMBER AND ANY OTHER PRINCIPAL OF BORROWER AUTHORIZED AND
DIRECTED TO EXECUTE