04-26-2023 Council Packet - Laserfiche WebLink

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77060900v2 S6-2 5. Evidence of Access, Availability of Utilities, Project Approvals. Evidence as to: (a) the methods of access to and egress from the Project Facilities, and nearby or adjoining public ways, meeting the reasonable requirements of the Project Facilities and the status of completion of any required improvements to such access; (b) the availability of water supply and storm and sanitary sewer facilities meeting the reasonable requirements of the Project Facilities; (c) the availability of all other required utilities, in location and capacity sufficient to meet the reasonable needs of the Project Facilities; and (d) the obtaining of all approvals, permits and licenses or evidence that no such permits or licenses are required) which are required, necessary or desirable for the construction of the Improvements and the access thereto, together with copies of all such Governmental Actions. 6. Environmental Report. An environmental site assessment report or reports of one or more qualified environmental engineering or similar inspection firms approved by the Controlling Person, which report or reports shall indicate a condition of the Land and any existing improve ments thereon in compliance with all Legal Requirements and in all respects satisfactory to the Controlling Person in its sole discretion and upon which report or reports the Controlling Person, the Funding Lender and the initial Funding Lender shall be expressly entitled to rely. 7. Soils Report. A soils report for the Project Facilities prepared by a soils engineer approved by the Controlling Person, which report shall indicate that based upon actual surface and subsurface examination of the Project Facilities, the soils conditions are fully satisfactory for the proposed construction and operation of the Improvements and upon which report or reports the Controlling Person, the Funding Lender and the initial Funding Lender shall be expressly entitled to rely. 8. Survey and Taxes. A Survey of the Land (and any existing improvements thereon) and Surveyor’s Certificate, and evidence of payment of all real estate taxes and municipal charges on the Land (and any existing improvements thereon) which were due and payable prior to the Closing Date. 9. Deposit of Funds. The initial installment of Required Equity Funds and any other source of funds required for closing shall have been delivered to the satisfaction of the Controlling Person. 10. Requisition. If any portion of the initial Advance shall be for hard costs of construction, a completed Requisition and together with the approval of the Engineering Consultant. 11. Form Lease. The standard form of lease to be used by the Borrower in connection with the Improvements. 12. Engineering Consultant Report. The Controlling Person shall have received a report or written confirmation from the Engineering Consultant that (i) the Engineering Consultant has reviewed the Plans and Specifications, (ii) the Plans and Specifications have been received and approved by each Governmental Authority to which the Plans and Specifications are required under applicable Legal Requirements to be submitted, (iii) the Construction Contract satisfactorily provides for the construction of the Improvements, and (iv) in the opinion of the Engineering Consultant, construction of the Improvements can be completed on or before the Completion Date for an amount not greater than the amount allocated for such purpose in the Development Budget.