REMAIN FILED
WITH RESPECT TO THE PROPERTY AND (II) AN ENDORSEMENT TO THE APPLICABLE UCC
INSURANCE POLICY, WHICH ENDORSEMENT SHALL HAVE THE EFFECT OF (X) UPDATING THE
EFFECTIVE DATE OF SUCH UCC INSURANCE POLICY TO THE DATE OF THE MAKING OF THE
ADDITIONAL ADVANCE AND (Y) INCREASING THE COVERAGE OF SUCH UCC INSURANCE POLICY
BY AN AMOUNT EQUAL TO THE AMOUNT OF THE ADDITIONAL ADVANCE;
(H)
ALL FEES AND EXPENSES PAYABLE TO LENDER, INCLUDING THE FEES AND EXPENSES
REFERRED TO IN SECTIONS 2.7 AND 5.30, TO THE EXTENT THEN DUE AND PAYABLE, SHALL
HAVE BEEN (OR CONTEMPORANEOUSLY ARE BEING) PAID IN FULL, AND ALL TITLE PREMIUMS
AND OTHER TITLE AND SURVEY CHARGES SHALL HAVE BEEN (OR CONTEMPORANEOUSLY ARE
BEING) PAID IN FULL;
(I)
LENDER SHALL HAVE RECEIVED REASONABLY SATISFACTORY EVIDENCE THAT ALL
PERMITS, LICENSES AND APPROVALS REQUIRED FOR ANY WORK ASSOCIATED WITH SUCH
REQUESTED DISBURSEMENT HAVE BEEN OBTAINED AND ARE IN FULL FORCE AND EFFECT;
(J)
TO THE EXTENT REASONABLY REQUESTED BY LENDER, LENDER SHALL HAVE RECEIVED
SUCH AFFIDAVITS AND CERTIFICATES AS TO SUCH MATTERS AS LENDER MAY REASONABLY
REQUEST, INCLUDING CERTIFICATES OF THE APPROVED ARCHITECT OR ENGINEER, IF
APPLICABLE, OR, OF A CONSTRUCTION CONSULTANT RETAINED BY LENDER AT BORROWER'S
EXPENSE IN CONNECTION WITH ANY WORK THAT (1) ALL OF THE WORK COMPLETED HAS BEEN
DONE SUBSTANTIALLY IN COMPLIANCE WITH THE PLANS AND SPECIFICATIONS AND
APPLICABLE LEGAL REQUIREMENTS, AND (2) THE DISBURSEMENT OF SUCH ADDITIONAL
ADVANCE IS REQUIRED TO REIMBURSE PAYMENTS OF COSTS INCURRED FOR APPROVED
RENOVATION/RE-BRANDING EXPENSES OR TO PAY COSTS INCURRED FOR APPROVED
RENOVATION/RE-BRANDING EXPENSES DUE TO, CONTRACTORS, SUBCONTRACTORS,
MATERIALMEN, LABORERS, ENGINEERS, ARCHITECTS OR OTHER PERSONS RENDERING SERVICES
OR MATERIALS OR PAYING FOR SUCH WORK;
23
(K)
BORROWER SHALL HAVE DELIVERED (OR SHALL HAVE CAUSED OWNER TO DELIVER) TO
LENDER LIEN WAIVERS (CONDITIONAL OR OTHERWISE) EXECUTED AND DELIVERED BY THE
GENERAL CONTRACTOR AND ALL SUBCONTRACTORS, MATERIALMEN AND OTHER PERSONS
REQUESTED BY LENDER FOR ALL WORK FOR WHICH A ADDITIONAL ADVANCE HAS PREVIOUSLY
BEEN MADE OR FOR WHICH THE ADDITIONAL ADVANCE IN QUESTION IS BEING REQUESTED;
(L)
TO THE EXTENT REASONABLY REQUESTED BY LENDER, LENDER SHALL HAVE RECEIVED
FROM BORROWER AN OFFICER'S CERTIFICATE: (1) CERTIFYING THAT ALL WORK RELATING TO
WORK PERFORMED ON OR PRIOR TO THE DATE OF THE CERTIFICATE HAS BEEN COMPLETED IN
A GOOD AND WORKMANLIKE MANNER IN ACCORDANCE WITH ALL LEGAL REQUIREMENTS,
(2) IDENTIFYING EACH PERSON THAT SUPPLIED LABOR OR MATERIALS WITH RESPECT TO
SUCH CAPITAL IMPROVEMENT, (3) STATING THAT EACH GENERAL CONTRACTOR AND ARCHITECT
RETAINED FOR ANY WORK ARE REPUTABLE AND LICENSED OR OTHERWISE AUTHORIZED TO DO
BUSINESS IN THE STATE AND HAVE BEEN ENGAGED PURSUANT TO ARMS' LENGTH AGREEMENTS
ENTERED INTO ON MARKET TERMS AND CONDITIONS AND (4) STATING THAT EACH SUCH
PERSON HAS BEEN OR UPON RECEIPT OF THE REQUESTED ADDITIONAL ADVANCE WILL BE PAID
IN FULL FOR WORK FOR WHICH A ADDITIONAL ADVANCE HAS BEEN MADE OR IS BEING
REQUESTED;
(M)
[INTENTIONALLY DELETED];
(N)
WHEN SUCH WORK HAS BEEN COMPLETED, LENDER SHALL HAVE RECEIVED A COPY OF
ANY CERTIFICATE OR