Zoning Letter. Letter or other written correspondence from the City of Monticello, a municipal corporation organized under the laws of the State of Minnesota (the “City”) confirming that the Property has been zoned appropriately.
Zoning Letter. A copy of a letter from local zoning authority or some other evidence acceptable to Lender, addressed to the Lender, confirming that the Facility is zoned for its intended use.
Zoning Letter. A zoning letter from Project municipality is required. The letter must indicate all applicable zoning ordinances or restrictive covenants affecting the Project permit the use of the property for its intended purposes and there are no variances, enforcement actions, or other conditions currently outstanding that would affect the zoning as stated. The information must be in a form sufficient to permit the title insurance company to issue an ALTA form 3.0 Zoning Endorsement (unimproved property) or an ALTA form 3.1 Zoning with Parking Endorsement (improved property). EXHIBIT B—ANNOTATED CONSTRUCTION LOAN AGREEMENT What follows is an annotated Construction Loan Agreement that is tailored to the following transaction: • Two to-be-constructed 20-unit market rate apartment buildings. • Sources and uses of funds for the project: Construction loan $20,000,000 Subordinate loan 3,000,000 Cash equity 2,000,000 Total $25,000,000 ses Land acquisition $4,000,000 “Hard” costs of construction $17,000,000 “Soft” costs (except reserves for interest 2,000,000 and construction contingencies) Interest reserve 1,000,000 Contingency reserve 1,000,000 Total $25,000,000 Sources U Note: this is how the construction loan is “balanced.” • Interest rate is floating. • Loan term is 18 months. • Xxxxxx’s required loan-to-value ratio is 75% (so the required appraised value is $33,334,000). • Xxxxxx’s required loan-to-cost ratio is 80% ($20,000,000 ÷ $25,000,000). CONSTRUCTION LOAN AGREEMENT by and between Apartments ‘R’ Us, LLC and Friendly Construction Loan Bank dated as of: November 2, 2017 Table of Contents ARTICLE I – DEFINITIONS 13 Section 1.01 Defined Terms 13 Section 1.01 Defined Terms 22 ARTICLE II – COMMITMENT TO MAKE ADVANCES, DISBURSEMENT PROCEDURES AND DEPOSIT OF FUNDS AND PARTIAL RELEASE OF COLLATERAL 22 Section 2.01 The Advances 22 Section 2.02 Disbursement Procedures 23 Section 2.03 Deposit of Funds by the Borrower 24 Section 2.04 Advances Without Receipt of Draw Request 25 ARTICLE III – CONDITIONS OF ADVANCES 25 Section 3.01 Condition Precedent to Initial Advance 25 Section 3.02 Further Conditions Precedent to All Advances 29 Section 3.03 Conditions Precedent to the Final Advance 30 Section 3.05 No Waiver 31 ARTICLE IV – REPRESENTATIONS AND WARRANTIES 31 Section 4.01 Representations and Warranties 31 ARTICLE V – ADDITIONAL COVENANTS OF THE BORROWER 33 Section 5.01 Affirmative Covenants 33 Section 5.02 Negative Covenants 35 ARTICLE VI – EVENTS OF DEFAULT AND RIGHTS AND REME...
Zoning Letter. Within 10 days after the Closing Date (or such extended period of time as approved by the Administrative Agent), the Credit Parties shall use commercially reasonable efforts to deliver to Lawyers Title Insurance Company, a zoning letter for the Chicago Real Property from the Zoning Department of the City of Chicago.
Zoning Letter. A letter dated within thirty (30) days of the date hereof addressed to Bristol and its successors and assigns from each city where each Hotel Real Property is located duly executed on behalf of such city wherein such city states the zoning designation for the Hotels together with a copy of the applicable zoning ordinance listing the uses permitted therein; provided, however, if Omaha is unable to obtain such a letter from such city, Omaha may furnish in lieu thereof a certificate of an architect or engineer reasonably acceptable to Bristol duly licensed in the state where each Hotel Real Property is located stating such facts and including a copy of such zoning ordinance listing the uses permitted therein.
Zoning Letter. 16 (iv) ARCHITECT/ENGINEER CERTIFICATE.................................17 (v)
Zoning Letter. 3. Copies of guarantees and warranties covering premises (capital and tenant improvements, roofs, termites, etc.).
Zoning Letter. On or before February 15, 2005, the Borrower shall deliver to the Lender a zoning letter in form and substance satisfactory to the Lender from the city of Bethlehem, Pennsylvania.
Zoning Letter. In lieu of a zoning letter, the City Zoning Map and the Zoning Ordinance are enclosed. Item #F14. BUILDING PLANS AND SPECIFICATIONS The original building plans and specifications are enclosed. These do not contain the changes required in the field. As-built drawings will be presented at the completion of the job. Item #F15. ESTOPPELS Will deliver per Contract. EXHIBIT "G" FORM OF POST-CLOSING ESCROW AND MASTER LEASE AGREEMENT [FORM-OF POST-CLOSING ESCROW AND MASTER LEASE AGREEMENT IS ATTACHED TO THIS COVER PAGE; OR, IF NOT ATTACHED HERETO, THEN THE FORM THEREOF SHALL BE AGREED UPON IN GOOD FAITH BY AND BETWEEN SELLER AND PURCHASER IN THEIR RESPECTIVE REASONABLE DISCRETION WITHIN TEN (10) DAYS AFTER THE EFFECTIVE DATE AND, UPON SUCH AGREEMENT, THAT FORM SHALL BE DEEMED ATTACHED HERETO] Cover Page EXHIBIT "H" POST-CLOSING LEASING CRITERIA
