Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations of the County Board to loan the AHIF Loan funds to the Borrower hereunder is subject to the fulfillment, to County Staff’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content. (a) Borrower shall have executed and delivered to the County Attorney all AHIF Loan Documents and all documents, policies and instruments required under the AHIF Loan Documents; and (b) The County Staff shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx Title Guaranty Company (or such other title insurance company as is acceptable to the County Staff) in an amount not less than the amount of the AHIF Loan, insuring the AHIF Deed of Trust lien on the Property Owner’s fee interest in the Property and the Borrower’s leasehold interest in the Property and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County Staff. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff may reasonably require; and (c) Borrower shall have delivered to the County Attorney executed copies of the (1) VHDA Loan Documents, (2) Second Amended and Restated Operating Agreement, (3) WHDC Developer Fee Agreement, (4) WHDC Services Agreement, (5) the Property Owner Loan Documents, and (6) Property Management Agreement, including any and all amendments, restatements, exhibits and attachments thereto; and (d) Xxxxxxxx shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit F, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the AHIF Loan Documents; and (e) Borrower shall have delivered to the County Attorney an executed Officer’s Certificate, in substantially the form attached hereto as Exhibit G; and (f) Borrower shall have provided to the County Manager or her designee evidence of the insurance coverage meeting the requirements of this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations of the County Board to loan the AHIF Loan funds to the Borrower hereunder is shall be subject to the fulfillment, to County StaffManager’s or his written designee’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content.
(a) Borrower shall have executed and delivered to the County Attorney all Amended and Restated AHIF Loan Documents and all documents, policies and instruments required under the Amended and Restated AHIF Loan Documents; and
(b) The County Staff Manager or his written designee shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx the Title Guaranty Company Insurer (or such other title insurance company as is acceptable to the County StaffManager or his written designee) in an amount not less than the amount of the AHIF Loan, insuring the Amended and Restated AHIF Deed of Trust as a lien on the Property Owner’s fee interest in the Property and the Borrower’s leasehold interest in the Property and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County StaffManager or his written designee. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff Manager or his designee may reasonably require. of the: thereto; and
(c) Borrower Xxxxxxxx shall have delivered to the County Attorney final executed copies of the copies
(1) VHDA Senior Lender Loan Documents, ,
(2) Second Amended and Restated Operating Agreement, LPA,
(3) WHDC Developer Fee Agreement, Appraisal,
(4) WHDC Services Agreement, Environmental Report,
(5) the Property Owner Loan DocumentsPartnership Administration Agreement, and and
(6) Property Management Agreement, including any and all amendments, restatements, exhibits and attachments thereto; andattachments
(d) Xxxxxxxx shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit FI, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the Amended and Restated AHIF Loan Documents; and
(e) Borrower shall have delivered to the County Attorney an executed OfficerIncumbency and Secretary’s Certificate, in substantially the form attached hereto as Exhibit GJ; and
(f) Borrower shall have provided to the County Manager or her his designee evidence of the insurance coverage meeting the requirements of this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations of the County Board to loan the AHIF Loan funds to the Borrower hereunder is subject to the fulfillment, to County Staff’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content.
(a) Borrower shall have executed and delivered to the County Attorney all AHIF Loan Documents and all documents, policies and instruments required under the AHIF Loan Documents; and
(b) The County Staff shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx Fidelity National Title Guaranty Insurance Company (or such other title insurance company as is acceptable to the County Staff) in an amount not less than the amount of the AHIF Loan, insuring the AHIF Deed of Trust as a lien on the Property Owner’s fee interest in the Property and the Borrower’s leasehold interest and Xxxxxxx Place, LLC’s fee simple interest in the Property Xxxxxxx Place East Land Condominium Unit and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County Staff. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff may reasonably require; and.
(c) Borrower shall have delivered to the County Attorney executed copies of the (1) VHDA Capital One Construction Loan Documents, (2) Second Amended and Restated Operating AgreementAPAH Sponsor Subordinate Loan Documents, (3) WHDC Developer Fee AgreementAmended and Restated LPA, (4) WHDC Services Xxxxxxx Place East Lease Agreement, (5) Development Services Agreement, (6) Environmental Report, (7) APAH Services Agreement, (8) Partnership Administration Agreement, (9) Investor Services Agreement, (10) Guaranty Agreement, dated as of the Effective Date, by and between the Borrower and XXXX, (00) Property Owner Loan Management Agreement, (12) Condominium Documents, and (613) Property Management AgreementPlans and Specifications, including any and all amendments, restatements, exhibits and attachments thereto; . In addition, Borrower shall have delivered to the County Attorney the most recent drafts of the VHDA Senior Loan Documents, APAH Sponsor Subordinate DHCD/HTF Loan Documents, and APAH Sponsor Subordinate FHLB/AHP Loan Documents as of the Effective Date, and the Borrower shall deliver to the County Attorney executed copies of the VHDA Senior Loan Documents, APAH Sponsor Subordinate DHCD/HTF Loan Documents, and APAH Sponsor Subordinate FHLB/AHP Loan Documents upon closing of each of the loans, respectively, and
(d) Xxxxxxxx Borrower shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit FH, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the AHIF Loan Documents; and
(e) Borrower shall have delivered to the County Attorney an executed Officer’s Certificate, in substantially the form attached hereto as Exhibit GI; and
(f) Borrower shall have provided to the County Manager or her his designee evidence of the insurance coverage meeting the requirements of this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations of the County Board to loan the AHIF Loan funds to the Borrower hereunder is subject to the fulfillment, to County Staff’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content.
(a) Borrower shall have executed and delivered to the County Attorney all AHIF Loan Documents and all documents, policies and instruments required under the AHIF Loan Documents; and
(b) The County Staff shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx Title Guaranty Company (or such other title insurance company as is acceptable to the County Staff) in an amount not less than the amount of the AHIF Loan, insuring the AHIF Deed of Trust lien on the Property Owner’s fee interest in the Property and the Borrower’s leasehold interest in the Property and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County Staff. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff may reasonably require; and
(c) Borrower shall have delivered to the County Attorney executed copies of the (1) VHDA Loan Documents, (2) Second Amended and Restated Operating Agreement, (3) WHDC Developer Fee Agreement, (4) WHDC Services Agreement, (5) the Property Owner Loan Documents, and (6) Property Management Agreement, including any and all amendments, restatements, exhibits and attachments thereto; and
(d) Xxxxxxxx Borrower shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit F, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the AHIF Loan Documents; and
(e) Borrower shall have delivered to the County Attorney an executed Officer’s Certificate, in substantially the form attached hereto as Exhibit G; and
(f) Borrower shall have provided to the County Manager or her designee evidence of the insurance coverage meeting the requirements of this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations of the County Board to loan the AHIF Loan funds to the Borrower hereunder is subject to the fulfillment, to County Staff’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content.
(a) Borrower shall have executed and delivered to the County Attorney all AHIF Loan Documents and all documents, policies and instruments required under the AHIF Loan Documents; and
(b) The County Staff shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx Fidelity National Title Guaranty Insurance Company (or such other title insurance company as is acceptable to the County Staff) in an amount not less than the amount of the AHIF Loan, insuring the AHIF Deed of Trust as lien on the Property Owner’s fee interest in the Property and the Borrower’s leasehold interest and Xxxxxxx Place, LLC’s fee simple interest in the Property Xxxxxxx Place West Land Condominium Unit and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County Staff. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff may reasonably require; and.
(c) Borrower shall have delivered to the County Attorney executed copies of the (1) VHDA Interim Gap Loan Documents, (2) Second Amended and Restated Operating AgreementAPAH Sponsor Subordinate Loan Documents, (3) WHDC Developer Fee AgreementAmended and Restated LPA, (4) WHDC Services Xxxxxxx Place West Lease Agreement, (5) Development Services Agreement, (6) Environmental Report, (7) APAH Services Agreement, (8) Partnership Administration Agreement, (9) Investor Services Agreement, (10) Guaranty Agreement, dated as of the Effective Date, by and between the Borrower and XXXX, (00) Property Owner Loan Management Agreement, (13) Condominium Documents, and (614) Property Management AgreementPlans and Specifications, including any and all amendments, restatements, exhibits and attachments thereto; . In addition, Borrower shall have delivered to the County Attorney the most recent drafts of the VHDA Senior Loan Documents, and
(d) Xxxxxxxx Borrower shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit FH, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the AHIF Loan Documents; and
(e) Borrower shall have delivered to the County Attorney an executed Officer’s Certificate, in substantially the form attached hereto as Exhibit GI; and
(f) Borrower shall have provided to the County Manager or her his designee evidence of the insurance coverage meeting the requirements of this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations of the County Board to loan the AHIF Loan funds to the Borrower hereunder is subject to the fulfillment, to County Staff’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content.
(a) Borrower shall have executed and delivered to the County Attorney all AHIF Loan Documents and all documents, policies and instruments required under the AHIF Loan Documents; and
(b) The County Staff shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx [Fidelity National Title Guaranty Company Insurance Company] (or such other title insurance company as is acceptable to the County Staff) in an amount not less than the amount of the AHIF Loan, insuring the AHIF Deed of Trust as lien on the Property OwnerCounty Board’s fee interest in the Columbia Hills Real Property and the Borrower’s leasehold interest in the Property Columbia Hills West Land Condominium Unit and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County Staff. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff may reasonably require; and.
(c) Borrower shall have delivered to the County Attorney executed copies of the (1) VHDA Permanent Senior Loan Documents, (2) Second Amended and Restated Operating AgreementAPAH Sponsor Subordinate Loan Documents, (3) WHDC Developer VHDA Equity Bridge Loan Documents, (4) Amended and Restated LPA, (5) CHE Land Condo Purchase Agreement, (6) APAH Development Fee Agreement, (47) WHDC Environmental Report, (8) APAH Services Agreement, (5) the Property Owner Loan Documents, and (69) Property Management Agreement, including any and all amendments, restatements, exhibits and attachments thereto; and
(d) Xxxxxxxx Borrower shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit FH, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the AHIF Loan Documents; and
(e) Borrower shall have delivered to the County Attorney an executed Officer’s Certificate, in substantially the form attached hereto as Exhibit GI; and
(f) Borrower shall have provided to the County Manager or her his designee evidence of the insurance coverage meeting the requirements of this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations of the County Board to loan the AHIF Loan funds to the Borrower hereunder is subject to the fulfillment, to County Staff’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content.
(a) Borrower shall have executed and delivered to the County Attorney all AHIF Loan Documents and all documents, policies and instruments required under the AHIF Loan Documents; and
(b) The County Staff shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx Fidelity National Title Guaranty Insurance Company (or such other title insurance company as is acceptable to the County Staff) in an amount not less than the amount of the AHIF Loan, insuring the AHIF Deed of Trust as lien on the Property OwnerCounty Board’s fee interest in the Property and the Borrower’s leasehold interest in the Spectrum Real Property and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County Staff. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff may reasonably require; and.
(c) Borrower shall have delivered to the County Attorney executed copies of the (1) VHDA the Xxxxxx and Dunlop Loan Documents, (2) Second Amended and Restated Operating Agreementthe AHC Loan Documents, (3) WHDC Developer Fee the Borrower Operating Agreement, (4) WHDC Services Agreementthe Environmental Report, and (5) the Property Owner Loan Documents, and (6) Property Management Agreement, including any and all amendments, restatements, exhibits and attachments thereto; and
(d) Xxxxxxxx Borrower shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit F, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the AHIF Loan Documents; and
(e) Borrower shall have delivered to the County Attorney an executed Officer’s Certificate, in substantially the form attached hereto as Exhibit G; and
(f) Borrower shall have provided to the County Manager or her designee evidence of the insurance coverage meeting the requirements of this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations of the County Board to loan the AHIF Loan funds to the Borrower hereunder is subject to the fulfillment, to County StaffManager’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content.
(a) Borrower shall have executed and delivered to the County Attorney all AHIF Loan Documents and all documents, policies and instruments required under the AHIF Loan Documents; and
(b) The County Staff Manager or his written designee shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx the Title Guaranty Company Insurer (or such other title insurance company as is acceptable to the County StaffManager or his written designee) in an amount not less than the amount of the AHIF Loan, insuring the AHIF Deed of Trust as a lien on the Property Owner’s fee interest in the Property and the Borrower’s leasehold interest in the Property and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County StaffManager or his written designee. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff Manager or his designee may reasonably require; and.
(c) Borrower shall have delivered to the County Attorney final executed copies of the the: thereto; and
(1) VHDA Senior Lender Loan Documents, ,
(2) Second Subordinate Lender Loan Documents,
(3) VHDA Gap Loan Documents,
(4) Initial LPA,
(5) Amended and Restated Operating Agreement, LPA,
(36) WHDC Developer Fee Agreement, ,
(47) WHDC Services Agreement, Environmental Reports,
(5) the Property Owner Loan Documents, and (6) 8) Property Management Agreement,
(9) Purchase and Sale Agreement
(10) Ground Lease Agreement,
(11) Tenant Services Agreement,
(12) Appraisal, and
(13) Plans and Specifications; including any and all amendments, restatements, exhibits and attachments thereto; andattachments
(d) Xxxxxxxx Borrower shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit FI, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the AHIF Loan Documents; and
(e) Borrower shall have delivered to the County Attorney an executed OfficerIncumbency and Secretary’s Certificate, in substantially the form attached hereto as Exhibit GJ; and
(f) Borrower shall have provided to the County Manager or her his designee evidence of the insurance coverage meeting the requirements of this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations of the County Board to loan the AHIF Loan funds County Loans to the Borrower hereunder is subject to the fulfillment, to County Staff’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Closing Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content.
(a) Borrower shall have executed and delivered to the County Attorney all AHIF County Loan Documents and all documents, policies and instruments required under the AHIF County Loan Documents; and
(b) The County Staff shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx [First American Title Guaranty Company Insurance Company] (or such other title insurance company as is acceptable to the County Staff) in an amount not less than the amount of the AHIF LoanCounty Loans, insuring the AHIF County Deed of Trust as lien on the Property OwnerCounty Board’s fee interest in the Property and the Borrower’s leasehold interest in the Property and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County Staff. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff may reasonably require; and.
(c) Borrower shall have delivered to the County Attorney executed copies of the (1) VHDA Permanent Senior Loan Documents, (2) Second Amended and Restated Operating AgreementVHDA Construction Loan Documents, (3) WHDC MBS Developer Fee AgreementSubordinate Loan Documents, (4) WHDC Seller Subordinate Loan Documents, (5) Amended and Restated LPA, (6) Clarendon Court Apartments Purchase Agreement, (7) Development Services Agreement, (5) the Property Owner Loan Documents8) Environmental Report, and (69) Property Management Agreement, and (10) , including any and all amendments, restatements, exhibits and attachments thereto; and
(d) Xxxxxxxx Borrower shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit FH, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the AHIF County Loan Documents; and
(e) Borrower shall have delivered to the County Attorney an executed Officer’s Certificate, in substantially the form attached hereto as Exhibit G; andI;
(f) Borrower shall have provided to the County Manager or her his designee evidence of the insurance coverage meeting the requirements of this Agreement; and
(g) Borrower shall have provided to the County Staff such other documents, instruments, or policies as may be reasonably required by the County Staff.
Appears in 1 contract
Samples: Loan Agreement
Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations of the County Board to loan the AHIF County Loan funds to the Borrower hereunder is subject to the fulfillment, to County StaffManager’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content.
(a) Borrower shall have executed and delivered to the County Attorney all AHIF County Loan Documents and all documents, policies and instruments required under the AHIF County Loan Documents; and
(b) The County Staff Manager or his written designee shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx the Title Guaranty Company Insurer (or such other title insurance company as is acceptable to the County StaffManager or his written designee) in an amount not less than the amount of the AHIF County Loan, insuring the AHIF County Deed of Trust as a lien on the Property Owner’s fee interest in the Property and the Borrower’s leasehold interest in the Property and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County StaffManager or his written designee. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff Manager or his designee may reasonably require; and
(c) Borrower shall have delivered to the County Attorney final executed copies of the the:
(1) VHDA Senior Lender Loan Documents, ,
(2) Second Amended and Restated Operating Agreement, Subordinate Candeur Loan Documents,
(3) WHDC Developer Fee Operating Agreement, ,
(4) WHDC Services Interest Purchase Agreement, ,
(5) the Property Owner Loan Documents, and Environmental Report,
(6) Property Management Agreement,
(7) Appraisal, and
(8) [Documents evidencing the DE Co-Member and CA Co-Member Equity Contribution and the Investment Member Equity Contribution], thereto; and including any and all amendments, restatements, exhibits and attachments thereto; andattachments
(d) Xxxxxxxx Borrower shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit FJ, or such other form that may be approved by the County Attorney, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the AHIF County Loan Documents; and
(e) Borrower shall have delivered to the County Attorney an executed OfficerIncumbency and Secretary’s Certificate, in substantially the form attached hereto as Exhibit GK, or such other form that may be approved by the County Attorney; and
(f) Borrower shall have provided to the County Manager or her his designee evidence of the insurance coverage meeting the requirements of this Agreement.
Appears in 1 contract
Samples: Loan Agreement
Disbursement Funding Conditions. Notwithstanding any other provision of this Agreement to the contrary, the obligations obligation of the County Board to loan the AHIF Acquisition Loan funds to the Borrower hereunder is subject to the fulfillment, to County Staff’s satisfaction, by or on behalf of the Borrower, of the conditions set forth in this Section 2.06 on or before the Effective Date. All documents and instruments referred to below or in any other such written instrument must be acceptable to County Staff in form and content.
(a) Borrower shall have executed and delivered to the County Attorney all AHIF County Loan Documents and all documents, policies and instruments required under the AHIF County Loan Documents; and
(b) The County Staff shall have received an ALTA standard coverage lender’s policy of title insurance (“Title Policy”) from Xxxxxxx Commonwealth Land Title Guaranty Company (or such other title insurance company as is acceptable to the County Staff) in an amount not less than the amount of the AHIF Acquisition Loan, insuring the AHIF County Deed of Trust as lien on the Property OwnerCounty Board’s fee interest in the Property and the Borrower’s leasehold interest in the Xxxxxxx Place Property and reflecting liens, encumbrances and other exceptions to title reasonably acceptable to the County Staff. The Title Policy shall contain such title insurance endorsements and reinsurance or coinsurance as the County Staff may reasonably require; and
(c) Borrower shall have delivered to the County Attorney executed copies of the (1i) VHDA Loan DocumentsXxxxxxx Place Property Sale Agreement, (2ii) Second Amended and Restated Operating Agreement, (3iii) WHDC Developer Fee AgreementEnvironmental Report, (4iv) WHDC Services Agreement, (5) the Property Owner Loan DocumentsReliance Letter, and (6v) Property Management AgreementSettlement Documents, including any and all amendments, restatements, exhibits and attachments thereto; and
(d) Xxxxxxxx Borrower shall have delivered to the County Attorney a legal opinion from the Borrower’s Attorney addressed to the County Board, in substantially the form attached hereto as Exhibit FG, opining, among other things, that the Borrower is in full compliance with all legal requirements in its formation and execution of the AHIF County Loan Documents; and
(e) Borrower shall have delivered to the County Attorney an executed Officer’s Certificate, in substantially the form attached hereto as Exhibit GH; and
(f) Borrower shall have provided to the County Manager or her his designee evidence of the insurance coverage meeting the requirements of this Agreement; and
(g) Borrower shall have provided to the County Staff, or their respective designees, such other documents, instruments, or policies as may be reasonably required by County Staff, or their respective designees.
Appears in 1 contract
Samples: Loan Agreement
