Common use of Additional Conditions Precedent to Final Advance Clause in Contracts

Additional Conditions Precedent to Final Advance. Lender shall not be obligated to make the final advance of Loan proceeds with respect to the Land, the Improvements or any Unit included within the Project unless the conditions described in Section 2.3 and Section 2.4 and the following additional conditions have been satisfied with respect to the Land, the Improvements or the Unit: (a) Lender has been satisfied that all construction has been satisfactorily completed in a good and workmanlike manner; (b) Lender has received evidence satisfactory to it that all work requiring inspection by Public Authorities has been duly inspected and approved by such Public Authorities and by any rating or inspection organization, bureau, association or office having or claiming jurisdiction; (c) To the extent that any such certificate is a condition to the lawful use and occupancy of the subject Improvements, Lender has received evidence satisfactory to it that the requisite certificate of use and occupancy for permanent occupancy of such Improvements has been validly issued; however, such a certificate shall be not required for any model houses; (d) All other terms and conditions of the Loan Documents required to be met as of the date of the final advance of Construction Loan proceeds for the applicable Unit shall have been met to the satisfaction of Lender.

Additional Conditions Precedent to Final Advance. Lender shall not be obligated to make the final advance of Loan proceeds with respect to the Land, the Improvements or any Unit included within the Project unless the conditions described in Section 2.3 and Section 2.4 and the following additional conditions have been satisfied with respect to the Land, the Improvements or the Unit: (a) Lender has been satisfied that all construction has been satisfactorily completed in a good and workmanlike manner; (b) Lender has received evidence satisfactory to it that all work requiring inspection by Public Authorities governmental or regulatory authorities having or claiming jurisdiction has been duly inspected and approved by such Public Authorities authorities and by any rating or inspection organization, bureau, association or office having or claiming jurisdiction; (c) To the extent that any such certificate is a condition to the lawful use and occupancy of the subject Improvements, Lender has received evidence satisfactory to it that the requisite certificate of use and occupancy for permanent occupancy of such Improvements has been validly issued; however, such a certificate shall be not required for any model houses; (d) All other terms and conditions of the Loan Documents required to be met as of the date of the final advance of Construction Loan proceeds for the applicable Unit shall have been met to the satisfaction of Lender.

Additional Conditions Precedent to Final Advance. Lender shall not be obligated to make the final advance of Loan Line of Credit proceeds with respect to the Land, the Improvements or any Unit included within the Project Mortgaged Property unless the conditions described in Section 2.3 Sections 2.3, 2.4 and Section 2.4 2.5 and the following additional conditions have been satisfied with respect to the Land, the Improvements or the such Unit: (a) Lender has been satisfied that all construction has been satisfactorily completed in a good and workmanlike manner; (b) Lender has received evidence satisfactory to it that all work requiring inspection by Public Authorities governmental or regulatory authorities having or claiming jurisdiction has been duly inspected and approved by such Public Authorities authorities and by any rating or inspection organization, bureau, association or office having or claiming jurisdiction; (c) To the extent that any such certificate is a condition to the lawful use and occupancy of the subject Improvements, Lender has received evidence satisfactory to it that the requisite certificate of use and occupancy for permanent occupancy of such Improvements has been validly issued; however, such a certificate shall be not required for any model houses; (d) Lender shall have received fire and extended coverage insurance for the applicable Unit as set forth in Section 4.10 of this Loan Agreement; (e) To the extent required by Lender, all insurance policies shall be endorsed to insure the Improvements, in accordance with Section 4.10 of this Loan Agreement; and (f) All other terms and conditions of the Loan Security Documents required to be met as of the date of the final advance of Construction Loan proceeds for the applicable Unit shall have been met to the satisfaction of Lender.

Additional Conditions Precedent to Final Advance. Lender shall not be obligated to make the final advance of Loan Line of Credit proceeds with respect to the Land, the Improvements or any Unit included within the Project Property unless the conditions described in Section 2.3 Sections 2.3, 2.4 and Section 2.4 2.5 and the following additional conditions have been satisfied with respect to the Land, the Improvements or the such Unit: (a) Lender has been satisfied that all construction has been satisfactorily completed in a good and workmanlike manner; (b) Lender has received evidence satisfactory to it that all work requiring inspection by Public Authorities governmental or regulatory authorities having or claiming jurisdiction has been duly inspected and approved by such Public Authorities authorities and by any rating or inspection organization, bureau, association or office having or claiming jurisdiction; (c) To the extent that any such certificate is a condition to the lawful use and occupancy of the subject Improvements, Lender has received evidence satisfactory to it that the requisite certificate of use and occupancy for permanent occupancy of such Improvements has been validly issued; however, such a certificate shall be not required for any model houses; (d) Lender shall have received fire and extended coverage insurance for the applicable Unit as set forth in Section 4.10 of this Loan Agreement; (e) To the extent required by Lender, all insurance policies shall be endorsed to insure the Improvements, in accordance with Section 4.10 of this Loan Agreement; and (f) All other terms and conditions of the Loan Financing Documents required to be met as of the date of the final advance of Construction Loan proceeds for the applicable Unit shall have been met to the satisfaction of Lender.

Additional Conditions Precedent to Final Advance. Lender shall not be obligated to make the final advance of Loan proceeds with respect to the Land, the Improvements or any Unit included within the Project unless the conditions described in Section 2.3 and Section 2.4 and the following additional conditions have been satisfied with respect to the Land, the Improvements or the Unit: (a) Lender has been satisfied that all construction has been satisfactorily completed in a good and workmanlike manner; (b) Lender has received evidence satisfactory to it that all work requiring inspection by Public Authorities has been duly inspected and approved by such Public Authorities and by any rating or inspection organization, bureau, association or office having or claiming jurisdiction; (c) To the extent that any such certificate is a condition to the lawful use and occupancy of the subject Improvements, Lender has received evidence satisfactory to it that the requisite certificate of use and occupancy for permanent occupancy of such Improvements has been validly issued; however, such a certificate shall be not required for any model houses; (d) All other terms and conditions of the Loan Financing Documents required to be met as of the date of the final advance of Construction Loan proceeds for the applicable Unit shall have been met to the satisfaction of Lender.