Laserfiche WebLink
of the following conditions: <br />3.1.1.Borrower having executed and delivered to Lender, without expense to Lender, executed copies <br />of the following documents: <br />3.1.1.1. this Loan Agreement; <br />3.1.1.2. the Note; <br />3.1.1.3. Combination Mortgage, Security Agreement and Fixture Financing Statement <br />granting Lender a third priority Mortgage on the Property subject only to Permitted <br />Encumbrances as set forth on Exhibit B attached hereto (the "Mortgage"); <br />3.1.1.4. The Guarantee executed by the Guarantor. <br />The Note, the Loan Agreement, the Mortgage and the Guarantee executed by the Guarantor are <br />collectively referred to as the "Loan Documents." <br />3.1.2.The Borrower having acquired marketable title to the Property in accordance with the terms of <br />this Agreement, and Borrower having provided evidence satisfactory to Lender that Borrower <br />has incurred costs in at least the amount of the Loan so disbursed, which evidence shall include <br />closing statements, paid invoices or comparable evidence of expenditures. <br />3.1.3.Borrower having delivered evidence to the Lender that Borrower contributed a minimum cash <br />equity for the acquisition of the Property in at least the amount of <br />3.1.4.Borrower closed on a loan from in an amount not to exceed <br />3.1.5.Borrower closed on a loan from U.S. Small Business Administration c/o <br />in an amount not to exceed <br />3.1.6.Borrower delivered to Lender articles of organization/incorporation and operating <br />agreements/bylaws for the Borrower. <br />3.1.7.Borrower and Guarantor having delivered evidence satisfactory to Lender that there has been no <br />materially adverse change to the financial condition of Borrower or the Personal Guarantor <br />prior to the Date of Closing. <br />2 <br />