Common use of Condition Precedent to Final Disbursement Clause in Contracts

Condition Precedent to Final Disbursement. The final disbursement of the of Program Funds, including ten percent (10%) retention of hard construction costs, shall be subject to the following conditions: a. All of the conditions set forth in Paragraphs 14, 15 and 16 above have been met. b. Submission to the Department of a Notice of Completion duly recorded by Recipient. c. Submission to the Department of a Certificate of Occupancy for the Housing Development issued by the local government having jurisdiction over the Housing Development, or any equivalent thereto acceptable to the Department. d. Receipt by the Department, if so requested, of a development cost audit for the Infrastructure Project satisfactory to the Department. e. Issuance of a certificate or certificates, each in form and substance satisfactory to the Department, executed by Recipient and the Architect, either jointly or severally, each certifying that the Infrastructure Project has been completed in accordance with the Scope of Work. f. Completion of the Infrastructure Project in accordance with Exhibit B and acceptance and approval of the Project by the Department and by any person or governmental agency whose approval may be required. g. Submission to the Department of all lien waivers required by the Department or passage of the applicable statutory periods for filing mechanic and other similar liens. h. Disposition of mechanic’s liens that have been recorded or stop notices that have been delivered to the Department or other construction lenders, so that any such liens shall have been paid, settled, bonded around or otherwise extinguished or discharged, and the Department has been provided satisfactory evidence of such payment, settlement, bond or discharge, including without limitation all statutory waivers. i. Review and approval by the Department of evidence submitted by Recipient that the Housing Development meets or exceeds the requirements for access to transit for which Recipient received points under the Program. j. Review and approval by the Department of evidence submitted by Recipient that the Housing Development meets or exceeds the requirements for proximity to amenities for which Recipient received points under the Program.

Condition Precedent to Final Disbursement. The final disbursement of the of Program Funds, including ten percent (10%) retention of hard construction costs, shall be subject to the following conditions: a. All of the conditions set forth in Paragraphs 14, 15 and 16 above have been met. b. Submission to the Department of a Notice of Completion duly recorded by Recipient. c. Submission to the Department of a Certificate of Occupancy for the Housing Development issued by the local government having jurisdiction over the Housing Development, or any equivalent thereto acceptable to the Department. If the Housing Development has multiple phases or developments, then submission to the Department of a Certificate of Occupancy for the first phase of the Housing Development. d. Receipt by the Department, if so requested, of a development cost audit for the Infrastructure Project satisfactory to the Department. e. Issuance of a certificate or certificates, each in form and substance satisfactory to the Department, executed by Recipient and the Architect, either jointly or severally, each certifying that the Infrastructure Project has been completed in accordance with the Scope of Work. f. Completion of the Infrastructure Project in accordance with Exhibit B and acceptance and approval of the Project by the Department and by any person or governmental agency whose approval may be required. g. Submission to the Department of all lien waivers required by the Department or passage of the applicable statutory periods for filing mechanic and other similar liens. h. Disposition of mechanic’s liens that have been recorded or stop notices that have been delivered to the Department or other construction lenders, so that any such liens shall have been paid, settled, bonded around or otherwise extinguished or discharged, and the Department has been provided satisfactory evidence of such payment, settlement, bond or discharge, including without limitation all statutory waivers. i. Review and approval by the Department of evidence submitted by Recipient that the Housing Development meets or exceeds the requirements for access to transit for which Recipient received points under the Program. j. Review and approval by the Department of evidence submitted by Recipient that the Housing Development meets or exceeds the requirements for proximity to amenities for which Recipient received points under the Program.

Condition Precedent to Final Disbursement. The final disbursement of the of Program Funds, including ten percent (10%) retention of hard construction costs, shall be subject to the following conditions: a. All of the conditions set forth in Paragraphs 14, 15 and 16 above have been met. b. Submission to the Department of a Notice notice of Completion completion duly recorded by Recipient. c. Submission For HRI activities, submission to the Department of a Certificate certificate of Occupancy occupancy for the Affordable Housing Development issued by the local government having jurisdiction over the Affordable Housing Development, or any equivalent thereto acceptable to the Department. d. Receipt by the Department, if so requested, of a development cost audit for the Infrastructure Project HRI, STI or TRA satisfactory to the Department. e. Issuance of a certificate or certificates, each in form and substance satisfactory to the Department, executed by Recipient and the Architectarchitect, either jointly or severally, each certifying that the Infrastructure Project HRI, STI or TRA has been completed in accordance with the Scope of Work. f. Completion of the Infrastructure Project HRI, STI or TRA in accordance with Exhibit B and acceptance and approval of the Project by the Department and by any person or governmental agency whose approval may be required. g. Submission to the Department of all lien waivers required by the Department or passage of the applicable statutory periods for filing mechanic and other similar liens. h. Disposition of mechanic’s liens that have been recorded or stop notices that have been delivered to the Department or other construction lenders, so that any such liens shall have been paid, settled, bonded around or otherwise extinguished or discharged, and the Department has been provided satisfactory evidence of such payment, settlement, bond or discharge, including without limitation all statutory waivers. i. Review and approval by the Department of evidence submitted by Recipient that the Housing Development meets or exceeds the requirements for access to transit for which Recipient received points under the Program. j. Review and approval by the Department of evidence submitted by Recipient that the Housing Development meets or exceeds the requirements for proximity to amenities for which Recipient received points under the Program.