Common use of Conditions Precedent to Final Disbursement Clause in Contracts

Conditions Precedent to Final Disbursement. In addition to the requirements set forth in Section 6.01, the obligation of PIDA to make the final disbursement of the proceeds of the Loan to the IDC and the Industrial Occupant is subject to the satisfaction of the following conditions precedent at the time of such final disbursement: (a) Unless waived by PIDA in writing, receipt by PIDA of an as-built survey prepared by a licensed surveyor or civil engineer dated not more than thirty (30) days prior to the final disbursement showing the location of all improvements, the boundary lines of the Project, the rights-of-way of the nearest streets, the location of all utility and other easements and rights-of-way affecting the Project, and such other details as PIDA may require or, in lieu of the foregoing, PIDA in its sole and absolute discretion may accept certifications from the appropriate officials as to the information which would be contained in the foregoing surveys. (b) Receipt by PIDA of certified copies of all appropriate certificates, including, without limitation, certificates of occupancy, approvals, documents, writings and drawings issued by the governmental departments or agencies authorized to issue such writings or drawings, evidencing that the Improvements are in compliance with all applicable statutes, laws, ordinances, rules, regulations and requirements, including, without limitation, all zoning requirements. (c) A certificate of occupancy in form and substance satisfactory to PIDA. (d) Such other documents and assurances as PIDA may reasonably require, in form and substance satisfactory to PIDA. The IDC and Industrial Occupant agree that by making a request for a disbursement hereunder, they shall each be deemed to be reconfirming to PIDA that all of their respective representations and warranties set forth in this Agreement and all related instruments, agreements and documents remain true and correct as of the date of each request.

Conditions Precedent to Final Disbursement. In addition to continued compliance with the requirements conditions set forth in Section 6.01Sections 3.1, the obligation 3.2, and 3.3 hereof, Lender’s approval of PIDA to make the final disbursement of the proceeds of the Loan to the IDC and the Industrial Occupant is Disbursement shall be subject to the satisfaction of the following conditions precedent at the time precedent, each of such final disbursementwhich Borrower shall satisfy as promptly as is reasonably possible: (a) Unless waived by PIDA in writing, receipt by PIDA Lender shall have received written evidence that the Improvements shown on the Plans are complete or will be complete upon the making of an as-built survey prepared by a licensed surveyor or civil engineer dated not more than thirty (30) days prior to the final disbursement showing the location Disbursement, as described in Section 6.1, including but not limited to (i) a Certificate of all improvements, the boundary lines of the Project, the rights-of-way of the nearest streets, the location of all utility and other easements and rights-of-way affecting the Project, and Substantial Completion on Form AIA G704 or such other details form as PIDA Lender may require or, in lieu reasonably require; and (ii) a final certificate of the foregoing, PIDA in its sole and absolute discretion may accept certifications from occupancy issued by the appropriate officials as to the information which would be contained in the foregoing surveysGovernmental Agency. (b) Receipt by PIDA Lender of certified copies of all appropriate certificates, including, without limitation, certificates of occupancy, approvals, documents, writings and drawings issued by an ALTA Endorsement 100 or such title insurance endorsements as Lender may require to the governmental departments or agencies authorized to issue such writings or drawings, evidencing Title Policy insuring that the Improvements are in compliance with all applicable statuteshave been completed free of any Liens and that no encroachments exist over any building, lawszoning, ordinanceseasement, rulesright of way or property boundary lines, regulations and requirements, including, without limitation, all zoning requirementsother than encroachments permitted by valid easements approved by Lender. (c) A certificate Receipt by Lender of occupancy in executed Form AIA G706/706A with final lien waivers attached or such other form reasonably required by Lender or Title Company and substance satisfactory written lien waivers releases from General Contractor and all suppliers of labor and materials to PIDAthe Project. (d) Such other documents Receipt by Lender of a written report from the Project Inspector stating that it has conducted inspections of the Project and assurances as PIDA may reasonably requirethat the Project has been fully completed in a good workmanlike manner and substantially in accordance with the Plans and the requirements of all Governmental Agencies. (e) Receipt by Lender of written evidence that all Project Costs, upon making the final Disbursement, shall have been paid in form and substance full. (f) If required by Lender, receipt by Lender of final as-built Plans for the Improvements. (g) Receipt by Lender of a certificate satisfactory to PIDA. The IDC Lender from the Architect confirming that the Property complies with all Accessibility Laws. (h) If required by Lender, receipt by Lender of a final ALTA as-built survey of the Land and Industrial Occupant agree that Improvements showing the location of all completed Improvements on the Land. (i) Receipt by making Lender of a request recorded notice of completion for a disbursement hereunder, they shall each be deemed to be reconfirming to PIDA the Improvements complying with California Civil Code Section 8182. (j) Receipt by Lender of written evidence that all of their respective representations and warranties set forth in this Agreement insurance required pursuant to Article 9 has been obtained and all related instruments, agreements Insurance Premiums have been paid. (k) Receipt by Lender of all LIHTC Documents that have not been received and documents remain true and correct as of any amendments or updates to the date of each requestLIHTC Documents.

Conditions Precedent to Final Disbursement. In addition Prior to any Final ------------------------------------------ Disbursement (which shall include any retainages), the requirements conditions set forth in Section 6.013.4 above shall be satisfied and in addition, the obligation of PIDA to make the final disbursement of the proceeds of the Loan to the IDC and the Industrial Occupant is subject to the satisfaction each of the following conditions precedent at the time of such final disbursementshall have been satisfied by Lender's receipt of: (a) Unless waived by PIDA in writing, receipt by PIDA of an as-built survey prepared by a licensed surveyor or civil engineer dated not more than thirty (30) days prior a. Advice from Disbursement Agent to the final disbursement showing effect that the location completed Improvements have been completed in accordance with the Plans and Specifications, using sound, new materials, in a good and workmanlike manner and applicable provisions of this Agreement; b. Evidence that Borrower has recorded a valid Notice of Completion, regular in form, applicable to all of the Improvements necessary to establish commencement of the shortest statutory period for the filing of mechanics' and materialmen's liens; c. The title insurer has provided such endorsements to Lender's title insurance policy as Lender may require to insure Lender that the Improvements have been completed free of all improvements, the boundary lines mechanic's and materialmen's liens; d. Evidence of approval of completion of the Project, the rightsImprovements by Borrower if Borrower is not an owner-of-way builder; e. Evidence of completion of the nearest streetsImprovements in a lien-free manner and in accordance with the Plans and Specifications, which evidence shall include, if required by Lender, written certification thereof by the location of supervising architect and general contractor, and final, unconditional lien releases from all utility contractors, subcontractors and other easements labor and rights-of-way affecting material providers who have performed work or provided materials for the Project, completed Improvements; f. Evidence of final inspection and such other details as PIDA may require or, in lieu of the foregoing, PIDA in its sole approval by all applicable governmental agencies and absolute discretion may accept certifications from the appropriate officials as to the information which would be contained in the foregoing surveys. (b) Receipt by PIDA of certified copies of all appropriate certificates, public authorities including, without limitation, certificates the issuance of occupancya Certificate of Completion if available in the jurisdiction, approvalsas such approvals are deemed appropriate by Lender; g. There shall be no unpaid claims on file with the Lender against any of the funds in the Account or other funds in the hands of the Lender, documentsor against the Property, writings the payment for which has not been provided for by means satisfactory to Lender; and h. All statutory lien periods for labor and drawings issued by material providers involved in the governmental departments or agencies authorized to issue such writings or drawings, evidencing that construction of the Improvements are in compliance with all applicable statutes, laws, ordinances, rules, regulations and requirements, including, without limitation, all zoning requirementsshall have expired. (c) A certificate of occupancy in form and substance satisfactory to PIDA. (d) Such other documents and assurances as PIDA may reasonably require, in form and substance satisfactory to PIDA. The IDC and Industrial Occupant agree that by making a request for a disbursement hereunder, they shall each be deemed to be reconfirming to PIDA that all of their respective representations and warranties set forth in this Agreement and all related instruments, agreements and documents remain true and correct as of the date of each request.

Conditions Precedent to Final Disbursement. In addition to continued compliance with the requirements conditions set forth in Section 6.01Sections 3.1, the obligation 3.2, and 3.3 hereof, Lender’s approval of PIDA to make the final disbursement of the proceeds of the Loan to the IDC and the Industrial Occupant is Disbursement shall be subject to the satisfaction of the following conditions precedent at the time precedent, each of such final disbursement:which Borrower shall satisfy as promptly as is reasonably possible:‌ (a) Unless waived by PIDA in writing, receipt by PIDA Lender shall have received written evidence that the Improvements shown on the Plans are complete or will be complete upon the making of an as-built survey prepared by a licensed surveyor or civil engineer dated not more than thirty (30) days prior to the final disbursement showing the location Disbursement, as described in Section 6.1, including but not limited to (i) a Certificate of all improvements, the boundary lines of the Project, the rights-of-way of the nearest streets, the location of all utility and other easements and rights-of-way affecting the Project, and Substantial Completion on Form AIA G704 or such other details form as PIDA Lender may require or, in lieu reasonably require; and (ii) a final certificate of the foregoing, PIDA in its sole and absolute discretion may accept certifications from occupancy issued by the appropriate officials as to the information which would be contained in the foregoing surveysGovernmental Agency. (b) Receipt by PIDA Lender of certified copies of all appropriate certificates, including, without limitation, certificates of occupancy, approvals, documents, writings and drawings issued by an CLTA Endorsement 100 or such title insurance endorsements as Lender may require to the governmental departments or agencies authorized to issue such writings or drawings, evidencing Title Policy insuring that the Improvements are in compliance with all applicable statuteshave been completed free of any Liens and that no encroachments exist over any building, lawszoning, ordinanceseasement, rulesright of way or property boundary lines, regulations and requirements, including, without limitation, all zoning requirementsother than encroachments permitted by valid easements approved by Lender. (c) A certificate Receipt by Lender of occupancy in executed Form AIA G706/706A with final lien waivers attached or such other form reasonably required by Lender or Title Company and substance satisfactory written lien waivers from General Contractor and all suppliers of labor and materials to PIDAthe Project. (d) Such other documents Receipt by Lender of a written report from the Project Inspector stating that it has conducted inspections of the Project and assurances as PIDA may reasonably requirethat the Project has been fully completed in a good workmanlike manner and substantially in accordance with the Plans and the requirements of all Governmental Agencies. (e) Receipt by Lender of written evidence that all Project Costs, upon making the final Disbursement, shall have been paid in form and substance full. (f) If required by Lender, receipt by Lender of final as-built Plans for the Improvements. (g) Receipt by Lender of a certificate satisfactory to PIDA. The IDC Lender from the Architect confirming that the Property complies with all Accessibility Laws. (h) If required by Lender, receipt by Lender of a final ALTA as-built survey of the Land and Industrial Occupant agree that Improvements showing the location of all completed Improvements on the Land. (i) Receipt by making Lender of a request recorded notice of completion for a disbursement hereunder, they shall each be deemed to be reconfirming to PIDA the Project complying with California Civil Code Section 8182 recorded in the Official Records. (j) Receipt by Lender of written evidence that all of their respective representations and warranties set forth in this Agreement insurance required pursuant to Article 9 has been obtained and all related instruments, agreements Insurance Premiums have been paid. (k) Receipt by Lender of all LIHTC Documents that have not been received and documents remain true and correct as any amendments or updates to the LIHTC Documents. (l) Receipt by Lender of a copy of the date Release of each requestConstruction Covenants delivered by the City to Borrower in accordance with Section 324 of the DDA, which Release of Construction Covenants shall have been duly recorded in the Official Records.

Conditions Precedent to Final Disbursement. In addition to continued compliance with the requirements conditions set forth in Section 6.01Sections 3.1, the obligation 3.2, and 3.3 hereof, U.S. Bank’s approval of PIDA to make the final disbursement of the proceeds of the Loan to the IDC and the Industrial Occupant is Disbursement shall be subject to the satisfaction of the following conditions precedent at the time precedent, each of such final disbursementwhich Borrower shall satisfy as promptly as is reasonably possible: (a) Unless waived by PIDA in writing, receipt by PIDA Lender shall have received written evidence that the Improvements shown on the Plans are complete or will be complete upon the making of an as-built survey prepared by a licensed surveyor or civil engineer dated not more than thirty (30) days prior to the final disbursement showing the location Disbursement, as described in Section 6.1, including but not limited to (i) a Certificate of all improvements, the boundary lines of the Project, the rights-of-way of the nearest streets, the location of all utility and other easements and rights-of-way affecting the Project, and Substantial Completion on Form AIA G704 or such other details form as PIDA Lender may require or, in lieu reasonably require; and (ii) a final certificate of the foregoing, PIDA in its sole and absolute discretion may accept certifications from occupancy issued by the appropriate officials as to the information which would be contained in the foregoing surveysGovernmental Agency. (b) Receipt by PIDA Lender of certified copies of all appropriate certificates, including, without limitation, certificates of occupancy, approvals, documents, writings and drawings issued by an ALTA Endorsement 100 or such title insurance endorsements as Lender may require to the governmental departments or agencies authorized to issue such writings or drawings, evidencing Title Policy insuring that the Improvements are in compliance with all applicable statuteshave been completed free of any Liens and that no encroachments exist over any building, lawszoning, ordinanceseasement, rulesright of way or property boundary lines, regulations and requirements, including, without limitation, all zoning requirementsother than encroachments permitted by valid easements approved by Lender. (c) A certificate Receipt by Xxxxxx of occupancy in executed Form AIA G706/706A with final lien waivers attached or such other form reasonably required by Lender or Title Company and substance satisfactory written lien waivers releases from General Contractor and all suppliers of labor and materials to PIDAthe Project. (d) Such other documents Receipt by Xxxxxx of a written report from the Project Inspector stating that it has conducted inspections of the Project and assurances as PIDA may reasonably requirethat all work has been fully completed in a good workmanlike manner and substantially in accordance with the Plans, and in form and substance accordance with requirements of all Governmental Agencies. (e) Receipt by Xxxxxx of written evidence that all Project Costs, upon making the final Disbursement, shall have been paid in full. (f) If required by Xxxxxx, receipt by Xxxxxx of final as-built Plans for the Improvements. (g) Receipt by Lender of a certificate satisfactory to PIDA. The IDC Lender from the Architect confirming that the Property complies with all Accessibility Laws. (h) If required by Xxxxxx, receipt by Xxxxxx of a final ALTA as-built survey of the Land and Industrial Occupant agree that Improvements showing the location of all completed Improvements on the Land. (i) Receipt by making Xxxxxx of a request recorded Notice of Completion for a disbursement hereunder, they shall each be deemed to be reconfirming to PIDA the Project complying with California Civil Code Section 8182 recorded in the Official Records. (j) Receipt by Lender of written evidence that all of their respective representations and warranties set forth in this Agreement insurance required pursuant to Article 9 has been obtained and all related instrumentsInsurance Premiums have been paid. (k) Receipt by Lender of all LIHTC Documents that have not been received and any amendments or updates to the LIHTC Documents, agreements and provided that Borrower shall only be required to deliver documents remain true and correct that typically should be available as of the date of each requestthat final Disbursement occurs.