Laserfiche WebLink
described above, and (d) as to any other entity, its organizational or governing documents and all <br />other documents of the nature described above. <br />"Permits" means collectively all building permits, licenses and approvals required to be <br />obtained prior to commencing construction of the Minimum Improvements. <br />"Person" means a natural person, corporation, partnership, limited partnership, <br />unincorporated association, or proprietorship. <br />"Project" has the meaning set forth in the Development Agreement. <br />"Purchase Agreement" means the purchase agreement between the Housing and <br />Redevelopment Authority for the City of Ramsey, Minnesota and the Developer dated , 2010. <br />ARTICLE II. <br />DOCUMENTS <br />En addition to the other conditions to the extension of credit contained in this City Loan <br />Agreement, including but not limited to the conditions to advances set forth in Article IV hereof, the City <br />shall have no obligation to make any advance against the City Note until the Developer has delivered the <br />following items to the City, all of which shall be in form and substance satisfactory to the City: <br />2.1 Loan Documents. The executed Loan Documents. <br />2.2 Opinion of Counsel. Opinions of counsel of the Developer and the Guarantor in <br />form and substance acceptable to City. <br />2.3 Sworn Construction Cost Statement. A sworn construction cost statement <br />executed by the Developer and the General Contractor bearing even date herewith which: <br />Improvements; <br />a. Lists the actual and estimated costs to complete the Minimum <br />b. Lists the names of all Contractors; and <br />c. Shows that the funds available to the Developer are sufficient to assure <br />completion of construction of the Minimum Improvements. <br />2.4 Insurance. One or more forms "ACORD 28 Evidence of Insurance" (or other <br />evidence satisfactory to City) which substantiate that the insurance coverages required to be maintained <br />by the Developer hereunder, and that all insurance policies relating thereto are in full force and effect. <br />3.1 Commitment of the City to Lend and the City Loan Agreement. Subject to the <br />terms and conditions hereof and of the City Note and other Loan Documents delivered herewith, the City <br />agrees to loan to the Developer, and the Developer agrees to borrow from the City, an amount not to <br />exceed $1,420,000.00. City shall make Advances against the City Note until the City Loan is fully <br />2701692v5 <br />01/19/11 <br />ARTICLE III. <br />CONSTRUCTION LOAN COMMITMENT <br />C -4 <br />