Agenda - Council - 03/24/2015 - Laserfiche WebLink

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(g) The labor, materials, equipment, work, services and supplies described herein have been performed upon or furnished to the Project in full accordance with the Final Construction Plans, which have not been amended except as expressly permitted by the Loan Agreement. (h) There have been no changes in any estimated costs relating to the completion of the Minimum Improvements from those set forth on the Construction Cost Statement, as amended by any amendment thereto heretofore delivered by Developer to HRA and approved by HRA, if such approval is required by the Loan Agreement. (i) All bills for labor, materials, equipment, work, services and supplies furnished in connection with the construction of the Minimum Improvements, which could give rise to a mechanic's lien if unpaid, have been paid, will be paid out of the requested Advance or are not yet due and payable. (j) All claims for mechanics' liens which shall have arisen or could arise for labor, materials, equipment, work, services or supplies furnished in connection with the Project through the last day of the period covered by the requested Advance have been effectively waived in writing, or will be effectively waived in writing when payment is made and such written lien waiver shall be delivered to HRA or its disbursing agent prior to the next Advance or final Advance against the Notes, or sooner as may be requested by the Title Company or HRA. (k) All funds advanced under the Loan Agreement to date have been utilized as specified in the Draw Requests pursuant to which the same were advanced, exclusively to pay costs incurred for or in connection with constructing the Minimum Improvements and developing the Development Property and the Project, and Developer and Borrower represent that no part of the proceeds of the Loans has been paid for labor, materials, equipment, work, services or supplies incorporated into or employed in connection with any project other than the Project, as that term is defined in the Loan Agreement. Developer and Borrower further represent that all funds covered by this Draw Request are for payment for labor, materials, equipment, work, services or supplies furnished solely in connection with the construction and completion of the Minimum Improvements. Borrower authorizes and requests HRA to charge the total amount of this Draw Request against Borrower's loan account and to advance from the proceeds of the Loans the funds hereby requested, and to make or authorize disbursement of said funds to the Title Company for disbursement to Borrower in amounts up to, but not exceeding, the amounts listed herein, subject to the requirements of and in accordance with the procedures provided in the Loan Agreement. The Advance made pursuant to this Draw Request is acknowledged to be an accommodation to Borrower and is not a waiver by HRA of any Defaults or Events of Default under the Loan Agreement or any of the other Loan Documents or any other claims of HRA against Borrower. 24