Common use of Final Construction Disbursement Clause in Contracts

Final Construction Disbursement. Subject to the disbursement limitations in this Agreement, Lender will advance to Borrower, for payment of Project Costs only and in accordance with the Approved Budget and the Draw Schedule, the full amount of the Loan allocated, pursuant to the Draw Schedule, for payment of construction costs and not theretofore disbursed (“Final Construction Disbursement”) when the following conditions shall have been complied with, provided that such compliance shall have occurred prior to the Construction Completion Date and no Default has occurred and is continuing and no Event of Default has occurred: (a) The Architect, Borrower and the Lender Consultant certify in writing to Lender that the Project has been fully and satisfactorily completed in accordance with the Plans; (b) Borrower shall have delivered to Lender fully executed copies, in form and content satisfactory to Lender, of (i) AIA Document G704 (Certificate of Substantial Completion); (ii) AIA Document G707 (Consent of Surety to Final Payment), and (iii) AIA Document G707A (Consent of Surety to Reduction in or Partial Release of Retainage); (c) If required by Lender, Lender has received as-built Plans for the Project satisfactory to Lender in form and content; (d) All Subcontractors and the General Contractor have supplied Lender and the Title Company with final sworn statements and full and complete waivers of all mechanics’ lien claims; (e) Lender has received a commitment to issue a date-down endorsement to the Title Policy in the full amount of the Loan insuring the Security Instrument as a valid first, prior and paramount lien on the Property, subject only to the Permitted Exceptions, deleting all exceptions and objections relating to any right to assert claims for mechanics’ liens on account of labor and/or materials theretofore furnished to the Property, and including (i) an ALTA Zoning Endorsement Form 3.1 amended to including parking (and excluding the marketability clause), (ii) an unconditional Comprehensive Endorsement No. 1, or like “conformity” endorsement, (iii) an endorsement bringing forward the effective date of all other endorsements attached to the Title Policy, and (iv) any other endorsement reasonably required by Lender; (f) Borrower shall have furnished to Lender permanent insurance in form and amount and with companies satisfactory to Lender in accordance with the requirements of the Security Instrument; (g) Borrower shall have furnished Lender a Certificate of Occupancy and all other governmental licenses and permits required to use, occupy and operate the Property as contemplated from appropriate governmental authorities; (h) Borrower shall have furnished a final plat of survey locating the completed Project, including all paving, driveways, fences and other exterior Improvements and otherwise in compliance with Section 3.1(c) hereof; (i) All fixtures and equipment required for the operation of the Property shall have been installed free and clear of all liens, title retention agreements and security interests except security interests granted to Lender; (j) Lender shall have received reports from the Title Company or the appropriate filing offices of the state and county in which the Property are located, indicating that no judgments, tax or other liens, security interests, leases of personalty, financing statements or other encumbrances (other than Permitted Encumbrances and liens and security interests in favor of Lender and no other party), are of record or on file encumbering any portion of the Property (or, if any such mechanics’ liens exist, the Title Company shall have agreed to insure over such items in Lender’s Title Policy), and that there are no judgments or tax liens outstanding in respect to Borrower; and (k) All other requirements of this Agreement, and any conditions to the Final Construction Disbursement under the Construction Escrow, shall have been complied with.

Final Construction Disbursement. Subject to Lender shall make the disbursement limitations in this Agreement, Lender will advance to Borrower, final Construction Advance for payment of Project Costs only Construction Costs, and in accordance with the Approved Budget and the Draw Scheduleshall release any Holdbacks that have not been theretofore released (collectively, the full amount of the Loan allocated, pursuant to the Draw Schedule, for payment of construction costs and not theretofore disbursed (“Final Construction Disbursement”) when ), upon Lender’s receipt of the following conditions documents, items and things, all of which shall have been complied with, provided that such compliance shall have occurred prior be satisfactory in form and substance to the Construction Completion Date and no Default has occurred and is continuing and no Event of Default has occurredLender: (a) The Architect, Borrower Certificates of the Contractor and the Lender Consultant certify in writing to Lender Inspecting Engineer (i) stating that the Project has Improvements have been fully and satisfactorily completed in accordance with the PlansPlans approved by Lender and all applicable building, fire, safety, environmental and similar codes, and (ii) containing such other details concerning the construction of the Improvements as Lender may reasonably request, together with verification of such statements and information by the Inspecting Engineer; (b) Borrower shall have delivered An affidavit from the Contractor, together with recordable lien waivers and releases of lien satisfactory to Lender fully executed copiesfrom all contractors, in form subcontractors, sub-subcontractors, materialmen and content satisfactory all other persons entitled to Lender, enforce a lien against the Project under the Florida Construction Lien Law with respect to work completed to the date of the Final Construction Disbursement (i) AIA Document G704 (Certificate which may be conditioned upon receipt of Substantial Completion); (ii) AIA Document G707 (Consent a specified portion of Surety to the proceeds of the Final PaymentConstruction Disbursement), and (iii) AIA Document G707A (Consent such additional affidavits and assurances as may be reasonably required by Lender to determine that the Project will be free and clear of Surety to Reduction in or Partial Release of Retainage)mechanics’ liens; (c) If Evidence that all certificates or permits required by Lender, Lender has received as-built Plans for the Project satisfactory to Lender in form use and contentoccupancy of the Improvements have been duly issued by the appropriate Governmental Authority, together with copies of all such certificates and permits; (d) All Subcontractors An as-built survey locating all Improvements, certified for the benefit of Borrower and Lender, showing that no encroachments exist over the General Contractor have supplied Lender and boundaries of the Title Company with final sworn statements and full and complete waivers of all mechanics’ lien claims;Land or over any set-back or right-of-way lines; and (e) Lender has received a commitment to issue a dateAs-down endorsement to the Title Policy in the full amount of the Loan insuring the Security Instrument as a valid first, prior built plans and paramount lien on the Property, subject only to the Permitted Exceptions, deleting all exceptions and objections relating to any right to assert claims for mechanics’ liens on account of labor and/or materials theretofore furnished to the Property, and including (i) an ALTA Zoning Endorsement Form 3.1 amended to including parking (and excluding the marketability clause), (ii) an unconditional Comprehensive Endorsement No. 1, or like “conformity” endorsement, (iii) an endorsement bringing forward the effective date of all other endorsements attached to the Title Policy, and (iv) any other endorsement reasonably required by Lender; (f) Borrower shall have furnished to Lender permanent insurance in form and amount and with companies satisfactory to Lender in accordance with the requirements of the Security Instrument; (g) Borrower shall have furnished Lender a Certificate of Occupancy and all other governmental licenses and permits required to use, occupy and operate the Property as contemplated from appropriate governmental authorities; (h) Borrower shall have furnished a final plat of survey locating the completed Project, including all paving, driveways, fences and other exterior Improvements and otherwise in compliance with Section 3.1(c) hereof; (i) All fixtures and equipment required specifications for the operation of the Property shall have been installed free and clear of all liensImprovements, title retention agreements and security interests except security interests granted to Lender; (j) Lender shall have received reports from the Title Company or the appropriate filing offices of the state and county in which the Property are located, indicating that no judgments, tax or other liens, security interests, leases of personalty, financing statements or other encumbrances (other than Permitted Encumbrances and liens and security interests in favor of Lender and no other party), are of record or on file encumbering any portion of the Property (or, if any such mechanics’ liens exist, the Title Company shall have agreed to insure over such items in Lendercertified by Borrower’s Title Policy), and that there are no judgments or tax liens outstanding in respect to Borrower; and (k) All other requirements of this Agreement, and any conditions to the Final Construction Disbursement under the Construction Escrow, shall have been complied withEngineer.

Final Construction Disbursement. Subject to the disbursement limitations in this Agreement, Lender will advance to Borrower, for payment of Project Costs only and in accordance with the Approved Budget and the Draw Schedule, the full amount of the Loan allocated, pursuant to the Draw Schedule, for payment of construction costs and not theretofore disbursed (“Final Construction Disbursement”) when the following conditions shall have been complied with, provided that such compliance shall have occurred prior to the Construction Completion Date and no Default has occurred and is continuing and no Event of Default has occurred: (a) The Architect, Borrower and the Lender Consultant certify in writing to Lender that the Project has been fully and satisfactorily completed substantially in accordance with the Plans; (b) Borrower shall have delivered to Lender fully executed copies, in form and content satisfactory to Lender, of (i) AIA Document G704 (Certificate of Substantial Completion); (ii) AIA Document G707 (Consent of Surety to Final Payment), and (iii) AIA Document G707A (Consent of Surety to Reduction in or Partial Release of Retainage); (c) If required by Lender, Lender has received as-built Plans for the Project reasonably satisfactory to Lender in form and content; (d) All The General Contractor has supplied Lender and the Title Company with final sworn statement and all Subcontractors and the General Contractor have supplied Lender and the Title Company with final sworn statements and full and complete waivers of all mechanics’ lien claims; (e) Lender has received a commitment to issue a date-down endorsement “Completion Endorsement” to the Title Policy in the full amount of the Loan insuring the Security Instrument as a valid first, prior and paramount lien on the Property, subject only to the Permitted Exceptions, deleting all exceptions and objections relating to any right to assert claims for mechanics’ liens on account of labor and/or materials theretofore furnished to the Property, and including (i) an ALTA Zoning Endorsement Form 3.1 amended to including parking (and excluding the marketability clause), (ii) an unconditional Comprehensive Endorsement No. 1, or like “conformity” endorsement, (iii) an endorsement bringing forward the effective date of all other endorsements attached to the Title Policy, and (iv) any other endorsement reasonably required by Lender; (f) Borrower shall have furnished to Lender permanent insurance in form and amount and with companies satisfactory to Lender in accordance with the requirements of this Agreement and the Security Instrument; (g) Borrower shall have furnished Lender a Certificate temporary or permanent certificate of Occupancy occupancy and all other governmental licenses and permits required to use, occupy and operate the Property as contemplated from appropriate governmental authorities; (h) Borrower shall have furnished a final plat of survey locating the completed Project, including all paving, driveways, fences and other exterior Improvements and otherwise in compliance with Section 3.1(c) hereof; (i) All fixtures and equipment required for the operation of the Property shall have been installed free and clear of all liens, title retention agreements and security interests except security interests granted to Lender; (j) Lender shall have received reports from the Title Company or the appropriate filing offices of the state and county in which the Property are located, indicating that no judgments, tax or other liens, security interests, leases of personalty, financing statements or other encumbrances (other than Permitted Encumbrances and liens and security interests in favor of Lender and no other party), are of record or on file encumbering any portion of the Property (or, if any such mechanics’ liens exist, the Title Company shall have agreed to insure over such items in Lender’s Title Policy), and that there are no judgments or tax liens outstanding in respect to Borrower; and (k) All other requirements Borrower has furnished to Lender a copy of this Agreement, an Affidavit of Completion executed by Borrower and any conditions General Contractor that: (i) has been sworn to before and acknowledged by a notary public; and (ii) was recorded in the Final Construction Disbursement under the Construction Escrow, shall have been complied withappropriate county real property records.

Final Construction Disbursement. Subject to Lender shall make the disbursement limitations in this Agreement, Lender will advance to Borrower, final Construction Advance for payment of Project Costs only Construction Costs, and in accordance with the Approved Budget and the Draw Scheduleshall release any Holdbacks that have not been theretofore released (collectively, the full amount of the Loan allocated, pursuant to the Draw Schedule, for payment of construction costs and not theretofore disbursed (“"Final Construction Disbursement”) when "), upon Lender's receipt of the following conditions documents, items and things, all of which shall have been complied with, provided that such compliance shall have occurred prior be satisfactory in form and substance to the Construction Completion Date and no Default has occurred and is continuing and no Event of Default has occurredLender: (a) The Architect, Borrower Certificates of the Contractor and the Lender Consultant certify in writing to Lender Inspecting Engineer (i) stating that the Project has Improvements have been fully and satisfactorily completed in accordance with the PlansPlans approved by Lender and all applicable building, fire, safety, environmental and similar codes, and (ii) containing such other details concerning the construction of the Improvements as Lender may reasonably request, together with verification of such statements and information by the Inspecting Engineer; (b) Borrower shall have delivered An affidavit from the Contractor, together with recordable lien waivers and releases of lien satisfactory to Lender fully executed copiesfrom all contractors, in form subcontractors, sub-subcontractors, materialmen and content satisfactory all other persons entitled to Lender, enforce a lien against the Project under the Florida Construction Lien Law with respect to work completed to the date of the Final Construction Disbursement (i) AIA Document G704 (Certificate which may be conditioned upon receipt of Substantial Completion); (ii) AIA Document G707 (Consent a specified portion of Surety to the proceeds of the Final PaymentConstruction Disbursement), and (iii) AIA Document G707A (Consent such additional affidavits and assurances as may be reasonably required by Lender to determine that the Project will be free and clear of Surety to Reduction in or Partial Release of Retainage)mechanics' liens; (c) If Evidence that all certificates or permits required by Lender, Lender has received as-built Plans for the Project satisfactory to Lender in form use and contentoccupancy of the Improvements have been duly issued by the appropriate Governmental Authority, together with copies of all such certificates and permits; (d) All Subcontractors An as-built survey locating all Improvements, certified for the benefit of Borrower and Lender, showing that no encroachments exist over the General Contractor have supplied Lender and boundaries of the Title Company with final sworn statements and full and complete waivers of all mechanics’ lien claims;Land or over any set-back or right-of-way lines; and (e) Lender has received a commitment to issue a dateAs-down endorsement to the Title Policy in the full amount of the Loan insuring the Security Instrument as a valid first, prior built plans and paramount lien on the Property, subject only to the Permitted Exceptions, deleting all exceptions and objections relating to any right to assert claims for mechanics’ liens on account of labor and/or materials theretofore furnished to the Property, and including (i) an ALTA Zoning Endorsement Form 3.1 amended to including parking (and excluding the marketability clause), (ii) an unconditional Comprehensive Endorsement No. 1, or like “conformity” endorsement, (iii) an endorsement bringing forward the effective date of all other endorsements attached to the Title Policy, and (iv) any other endorsement reasonably required by Lender; (f) Borrower shall have furnished to Lender permanent insurance in form and amount and with companies satisfactory to Lender in accordance with the requirements of the Security Instrument; (g) Borrower shall have furnished Lender a Certificate of Occupancy and all other governmental licenses and permits required to use, occupy and operate the Property as contemplated from appropriate governmental authorities; (h) Borrower shall have furnished a final plat of survey locating the completed Project, including all paving, driveways, fences and other exterior Improvements and otherwise in compliance with Section 3.1(c) hereof; (i) All fixtures and equipment required specifications for the operation of the Property shall have been installed free and clear of all liensImprovements, title retention agreements and security interests except security interests granted to Lender; (j) Lender shall have received reports from the Title Company or the appropriate filing offices of the state and county in which the Property are located, indicating that no judgments, tax or other liens, security interests, leases of personalty, financing statements or other encumbrances (other than Permitted Encumbrances and liens and security interests in favor of Lender and no other party), are of record or on file encumbering any portion of the Property (or, if any such mechanics’ liens exist, the Title Company shall have agreed to insure over such items in Lender’s Title Policy), and that there are no judgments or tax liens outstanding in respect to certified by Borrower; and (k) All other requirements of this Agreement, and any conditions to the Final Construction Disbursement under the Construction Escrow, shall have been complied with's Engineer.

Final Construction Disbursement. Subject The final Disbursement ------------------------------- of Hard Costs incurred but not advanced during the course of construction for all portions of the Project and the release of related retainage (to the disbursement limitations in this Agreement, Lender will advance to Borrower, for payment of Project Costs only and in accordance with the Approved Budget and the Draw Schedule, the full amount of the Loan allocated, extent not theretofore released pursuant to Section 2.09(b)) (the Draw Schedule, for payment of construction costs and not theretofore disbursed (“"Final Construction Disbursement”") when shall be made subject to satisfaction of all of the foregoing as well as the following conditions shall have been complied with, provided that such compliance shall have occurred prior to the Construction Completion Date and no Default has occurred and is continuing and no Event of Default has occurredconditions: (a) The Architect, Lender shall have received a certification by Borrower and the Lender Consultant certify in writing to Lender a letter from each Architect that all work for which such Architect has design responsibility on the Project has been fully finished and satisfactorily completed made available for use substantially in accordance with the Plans, Construction Contract, other applicable Contract if any, and Government Leases; (b) Borrower Lender shall have delivered to Lender fully executed copiesreceived a certificate of Inspecting Engineer stating, in form effect, that all of the Project, except for Punch List Items (as defined in Section 5.11 hereof) and content satisfactory to Lenderany remaining Retail Tenant Improvements for space other than Restaurant Improvements, of (i) AIA Document G704 (Certificate of Substantial Completion); (ii) AIA Document G707 (Consent of Surety to Final Payment)has been completed in a good and workmanlike manner substantially in accordance with the Plans, Construction Contract, other applicable Contract if any, and (iii) AIA Document G707A (Consent of Surety to Reduction in or Partial Release of Retainage)Government Leases; (c) If required by LenderLender shall have received Lien waivers and affidavits of payment from the General Contractor and all Contractors and Subcontractors who have performed work, Lender has received as-built Plans for labor or services or furnished supplies in connection with the construction of the Project satisfactory substantially in the form of Exhibit B hereto, modified to Lender state that all work, labor, services and materials to be performed or provided by such Person, except for Punch List Items and any remaining Retail Tenant Improvements for space other than Restaurant Improvements, have been performed and provided and, upon payment of a specified sum, all amounts owing to such Person in form and content;respect of the Project will then be paid in full; and (d) All Subcontractors Lender shall have received final and the General Contractor have supplied Lender and the Title Company with final sworn statements and full and complete waivers of all mechanics’ lien claims; (e) Lender has received a commitment to issue a date-down endorsement comprehensive endorsements to the Title Policy Policies or evidence satisfactory to Lender that the Title Companies are in a position to issue to Lender final policies of title insurance with such endorsements thereto as Lender may reasonably require, insuring the Deed of Trust as a first lien, subject only to the Permitted Exceptions and providing coverage in the full amount of the Loan insuring the Security Instrument as a valid first, prior and paramount lien on the Property, subject only to the Permitted Exceptions, deleting all exceptions and objections relating to any right to assert claims for mechanics’ liens on account of labor and/or materials theretofore furnished to the Property, and including (i) an ALTA Zoning Endorsement Form 3.1 amended to including parking (and excluding the marketability clause), (ii) an unconditional Comprehensive Endorsement No. 1, or like “conformity” endorsement, (iii) an endorsement bringing forward the effective date of all other endorsements attached to the Title Policy, and (iv) any other endorsement reasonably required by Lender; (f) Borrower shall have furnished to Lender permanent insurance in form and amount and with companies satisfactory to Lender in accordance with the requirements of the Security Instrument; (g) Borrower shall have furnished Lender a Certificate of Occupancy and all other governmental licenses and permits required to use, occupy and operate the Property as contemplated from appropriate governmental authorities; (h) Borrower shall have furnished a final plat of survey locating the completed Project, including all paving, driveways, fences and other exterior Improvements and otherwise in compliance with Section 3.1(c) hereof; (i) All fixtures and equipment required for the operation of the Property shall have been installed free and clear of all liens, title retention agreements and security interests except security interests granted to Lender; (j) Lender shall have received reports from the Title Company or the appropriate filing offices of the state and county in which the Property are located, indicating that no judgments, tax or other liens, security interests, leases of personalty, financing statements or other encumbrances (other than Permitted Encumbrances and liens and security interests in favor of Lender and no other party), are of record or on file encumbering any portion of the Property (or, if any such mechanics’ liens exist, the Title Company shall have agreed to insure over such items in Lender’s Title Policy), and that there are no judgments or tax liens outstanding in respect to Borrower; and (k) All other requirements of this Agreement, and any conditions to the Final Construction Disbursement under the Construction Escrow, shall have been complied withLoan.

Final Construction Disbursement. Subject to the disbursement limitations in this Agreement, Lender will advance to Borrower, for payment of Project Costs only and in accordance with the Approved Budget and the Draw Schedule, the full amount of the Loan allocated, pursuant to the Draw Schedule, for payment of construction costs and not theretofore disbursed (“Final Construction Disbursement”) when the following conditions shall have been complied with, provided that such compliance shall have occurred prior to the Construction Completion Date and no Default has occurred and is continuing and no Event of Default has occurred: (a) The Architect, Borrower and the Lender Consultant certify in writing to Lender that the Project has been fully and satisfactorily completed in accordance with the Plans; (b) Borrower shall have delivered to Lender fully executed copies, in form and content satisfactory to Lender, of (i) AIA Document G704 (Certificate of Substantial Completion); and if applicable, (iii) AIA Document G707 (Consent of Surety to Final Payment), and (iiiii) AIA Document G707A (Consent of Surety to Reduction in or Partial Release of Retainage); (c) If required by Lender, Lender has received as-built Plans for the Project satisfactory to Lender in form and content; (d) All Subcontractors and the General Contractor have supplied Lender and the Title Company with final sworn statements and full and complete waivers of all mechanics’ lien claims; (e) Lender has received a commitment to issue a date-down endorsement to the Title Policy in the full amount of the Loan insuring the Security Instrument as a valid first, prior and paramount lien on the Property, subject only to the Permitted ExceptionsEncumbrances, deleting all exceptions and objections relating to any right to assert claims for mechanics’ liens on account of labor and/or materials theretofore furnished to the Property, and including (i) an ALTA Zoning Endorsement Form 3.1 amended to including parking (and excluding the marketability clause), (ii) an unconditional Comprehensive Endorsement No. 1, or like “conformity” endorsement, (iii) an endorsement bringing forward the effective date of all other endorsements attached to the Title Policy, and (iv) any other endorsement reasonably required by Lender; (f) Borrower shall have furnished to Lender permanent insurance in form and amount and with companies satisfactory to Lender in accordance with the requirements of the Security Instrument; (g) Borrower shall have furnished Lender a Certificate of Occupancy and all other governmental licenses and permits required to use, occupy and operate the Property as contemplated from appropriate governmental authorities; (h) Borrower shall have furnished a final plat of survey locating the completed Project, including all paving, driveways, fences and other exterior Improvements and otherwise in compliance with Section 3.1(c) hereof; (i) All fixtures and equipment required for the operation of the Property shall have been installed free and clear of all liens, title retention agreements and security interests except security interests granted to Lender; (j) Lender shall have received reports from the Title Company or the appropriate filing offices of the state and county in which the Property are located, indicating that no judgments, tax or other liens, security interests, leases of personalty, financing statements or other encumbrances (other than Permitted Encumbrances and liens and security interests in favor of Lender and no other party), are of record or on file encumbering any portion of the Property (or, if any such mechanics’ liens exist, the Title Company shall have agreed to insure over such items in Lender’s Title Policy), and that there are no judgments or tax liens outstanding in respect to Borrower; and (k) All other requirements of this Agreement, and any conditions to the Final Construction Disbursement under the Construction Escrow, Agreement shall have been complied with.

Final Construction Disbursement. Subject The final Disbursement ------------------------------- of Hard Costs for all portions of the Project excluding Spec Tenant Improvement Costs and the release of related retainage (to the disbursement limitations in this Agreement, Lender will advance extent not theretofore released pursuant to Borrower, for payment Section 2.09(b)) shall be made subject to satisfaction of Project Costs only and in accordance with the Approved Budget and the Draw Schedule, the full amount all of the Loan allocated, pursuant to the Draw Schedule, for payment of construction costs and not theretofore disbursed (“Final Construction Disbursement”) when foregoing as well as the following conditions shall have been complied with, provided that such compliance shall have occurred prior to the Construction Completion Date and no Default has occurred and is continuing and no Event of Default has occurredconditions: (a) The Architect, Lender shall have received a certification by Borrower and a letter from each Architect other than the Lender Consultant certify in writing to Lender Architect for the Spec Tenant Improvements that all work on the Project other than the Spec Tenant Improvements has been fully finished and satisfactorily completed made available for use substantially in accordance with the Plans, Construction Contract, other applicable Contract if any, and OCC Lease; (b) Borrower Lender shall have delivered to Lender fully executed copiesreceived a certificate of Inspecting Engineer stating, in form effect, that all of the Project other than the Spec Tenant Improvements has been completed in a good and content satisfactory to Lenderworkmanlike manner substantially in accordance with the Plans, of (i) AIA Document G704 (Certificate of Substantial Completion); (ii) AIA Document G707 (Consent of Surety to Final Payment)Construction Contract, other applicable Contract if any, and (iii) AIA Document G707A (Consent of Surety to Reduction in or Partial Release of Retainage)OCC Lease; (c) If required Lender shall have received final Lien waivers and affidavits of payment from the General Contractor and all Contractors and Subcontractors who have performed work, labor or services or furnished supplies in connection with the construction, of the project substantially in the form of Exhibit I hereto, modified to state that all work, labor, services and materials to be performed or provided by Lendersuch Person have been performed and provided and, Lender has received as-built Plans for upon payment of a specified sum, all amounts owing to such Person in respect of the Project satisfactory to Lender will then be paid in form and content;full; and (d) All Subcontractors Lender shall have received final and the General Contractor have supplied Lender and the Title Company with final sworn statements and full and complete waivers of all mechanics’ lien claims; (e) Lender has received a commitment to issue a date-down endorsement comprehensive endorsements to the Title Policy Policies or evidence satisfactory to Lender that the Title Companies are in a position to issue to Lender final policies of title insurance with such endorsements thereto as Lender may reasonably require, insuring the Deed of Trust as a first lien, subject only to the Permitted Exceptions and providing coverage in the full amount of the Loan insuring the Security Instrument as a valid first, prior and paramount lien on the Property, subject only to the Permitted Exceptions, deleting all exceptions and objections relating to any right to assert claims for mechanics’ liens on account of labor and/or materials theretofore furnished to the Property, and including (i) an ALTA Zoning Endorsement Form 3.1 amended to including parking (and excluding the marketability clause), (ii) an unconditional Comprehensive Endorsement No. 1, or like “conformity” endorsement, (iii) an endorsement bringing forward the effective date of all other endorsements attached to the Title Policy, and (iv) any other endorsement reasonably required by Lender; (f) Borrower shall have furnished to Lender permanent insurance in form and amount and with companies satisfactory to Lender in accordance with the requirements of the Security Instrument; (g) Borrower shall have furnished Lender a Certificate of Occupancy and all other governmental licenses and permits required to use, occupy and operate the Property as contemplated from appropriate governmental authorities; (h) Borrower shall have furnished a final plat of survey locating the completed Project, including all paving, driveways, fences and other exterior Improvements and otherwise in compliance with Section 3.1(c) hereof; (i) All fixtures and equipment required for the operation of the Property shall have been installed free and clear of all liens, title retention agreements and security interests except security interests granted to Lender; (j) Lender shall have received reports from the Title Company or the appropriate filing offices of the state and county in which the Property are located, indicating that no judgments, tax or other liens, security interests, leases of personalty, financing statements or other encumbrances (other than Permitted Encumbrances and liens and security interests in favor of Lender and no other party), are of record or on file encumbering any portion of the Property (or, if any such mechanics’ liens exist, the Title Company shall have agreed to insure over such items in Lender’s Title Policy), and that there are no judgments or tax liens outstanding in respect to Borrower; and (k) All other requirements of this Agreement, and any conditions to the Final Construction Disbursement under the Construction Escrow, shall have been complied withLoan.