OF CREDIT IN
AN AMOUNT AND (IN THE CASE OF A LETTER OF CREDIT) IN THE FORM AND CONTAINING
SUCH PROVISIONS AS ARE ACCEPTABLE TO AGENT, AS SECURITY FOR THE EXTENSION LOAN;
(6)
LABOR AGREEMENT.
AN EXECUTED AND DELIVERED
"NO STRIKES" AGREEMENT BETWEEN BORROWER AND THE BUILDING & CONSTRUCTION TRADE
COUNCIL OF GREATER NEW YORK (THE "NO STRIKES AGREEMENT") IN FORM AND SUBSTANCE
SATISFACTORY TO AGENT;
(7)
ENVIRONMENTAL REPORT.
A PHASE I
ENVIRONMENTAL SITE ASSESSMENT PREPARED BY AN ENVIRONMENTAL CONSULTING OR
ENGINEERING FIRM ACCEPTABLE TO AGENT UPON WHICH AGENT IS EXPRESSLY ENTITLED TO
RELY, A "CLOSE-OUT" LETTER RELATING TO ASBESTOS ABATEMENT UPON WHICH AGENT IS
EXPRESSLY ENTITLED TO RELY, AND IF REQUESTED BY AGENT, A PHASE II ENVIRONMENTAL
SITE ASSESSMENT, INDICATING IN EACH CASE A CONDITION OF THE
51
PREMISES IN ALL RESPECTS SATISFACTORY TO AGENT, AND UPON WHICH AGENT IS
EXPRESSLY ENTITLED TO RELY;
(8)
SURVEY.
THE SURVEY;
(9)
SUBMARKET ANALYSIS.
A SUBMARKET ANALYSIS,
INCLUDING, WITHOUT LIMITATION, POTENTIAL NEW CONSTRUCTION, RENTS, EXPENSES AND
ABSORPTION UNDERWRITTEN BY AGENT IN FORM AND SUBSTANCE SATISFACTORY TO AGENT;
(10)
GEOTECHNICAL UPDATES.
A GEOTECHNICAL REPORT
FROM AN ENGINEERING COMPANY SATISFACTORY TO AGENT, WHICH REPORT SHALL INDICATE A
CONDITION OF THE PREMISES IN ALL RESPECTS SATISFACTORY TO AGENT, AND UPON WHICH
REPORT AGENT IS EXPRESSLY ENTITLED TO RELY;
(11)
GOVERNMENTAL APPROVALS AND THIRD PARTY
APPROVALS.
ALL GOVERNMENTAL APPROVALS AND ALL OTHER THIRD PARTY CONSENTS AND
APPROVALS NECESSARY FOR THE VALID EXECUTION, DELIVERY AND PERFORMANCE BY ANY
BORROWER ENTITY OF THIS AGREEMENT OR THE OTHER PROJECT LOAN DOCUMENTS AND FOR
THE CONSTRUCTION OF THE PROJECT AS CONTEMPLATED BY THE PLANS AND SPECIFICATIONS,
INCLUDING, WITHOUT LIMITATION, A BUILDING PERMIT TO THE EXTENT THEN REQUIRED BY
APPLICABLE LAW;
(12)
ARCHITECT'S STATEMENT AND GENERAL CONTRACTOR'S
CERTIFICATE.
A STATEMENT FROM LEAD ARCHITECT (THE "ARCHITECT'S CERTIFICATE")
AND A CERTIFICATE FROM THE GENERAL CONTRACTOR (THE "GENERAL CONTRACTOR'S
CERTIFICATE") IN THE FORMS ATTACHED HERETO AS EXHIBITS I AND J, RESPECTIVELY OR
IN SUCH OTHER FORMS AS MAY BE ACCEPTABLE TO AGENT;
(13)
LEASES.
COPIES OF ALL LEASES, IF ANY, EACH
CERTIFIED BY BORROWER OR THE APPLICABLE MEMBER, AS APPLICABLE, AND EACH
SATISFACTORY TO AGENT; NON-DISTURBANCE AGREEMENTS BETWEEN AGENT AND THE TENANTS
UNDER SUCH LEASES TO THE EXTENT REQUIRED BY SECTION 7.14(B) HEREOF (WITH SUCH
CHANGES THERETO AS MAY BE REASONABLY APPROVED BY AGENT) OR IN SUCH OTHER FORM AS
MAY BE REASONABLY APPROVED BY AGENT; ESTOPPEL CERTIFICATES FROM THE TENANTS
UNDER SUCH LEASES, IN THE FORM ATTACHED HERETO AS EXHIBIT K; A NEW YORK REAL
PROPERTY LAW SECTION 291-F NOTICE (A "SECTION 291-F NOTICE") WITH RESPECT TO
EACH LEASE; AND AN EXECUTED ACKNOWLEDGMENT FROM EACH TENANT UNDER SUCH LEASES
RELATING TO THE PAYMENT OF RENT AND SECURITY DEPOSITS TO THE APPLICABLE
COLLECTION ACCOUNTS AND SECURITY DEPOSITS ACCOUNT AND THE USE OF AN EXPEDITED
CHECK CLEARING PROCESS;
(14)
ORGANIZATIONAL DOCUMENTS.
COPIES OF ALL
ORGANIZATIONAL DOCUMENTATION RELATED TO THE BORROWER ENTITIES AND SUCH OTHER
ENTITIES AS AGENT SHALL REQUEST AND/OR THEIR FORMATION, STRUCTURE, EXISTENCE,
GOOD STANDING AND/OR QUALIFICATION TO DO BUSINESS, AS AGENT MAY