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<br /> <br /> <br /> <br /> <br />5. The undersigned certifies as follows: <br />(a) The conditions precedent to disbursement set forth in the Construction Continuing <br />Covenant Agreement have been satisfied. <br />(b) The disbursement requested pursuant to this Requisition: (i) will be used solely to pay <br />a cost or costs allowable under the Funding Loan Agreement and the Construction <br />Continuing Covenant Agreement and (ii) is substantially in accordance with the <br />proforma draw schedules previously delivered to and accepted by Initial Funding <br />Lender. <br />(c) None of the items for which disbursement is requested pursuant to this Requisition has <br />formed the basis for any disbursement previously made from the Project Loan Fund <br />and all such items have been properly recorded in Borrower’s books and are set forth <br />on Schedule 1, along with paid invoices attached for any sum for which reimbursement <br />is requested and invoices or bills of sales for all other items. <br />(d) All labor and materials for which disbursements have been requested have been <br />incorporated into the Project in accordance with reasonable and standard building <br />practices, the Construction Continuing Covenant Agreement and all applicable laws, <br />ordinances, rules and regulations of any governmental authority having jurisdiction <br />over the Project. <br />(e) The materials, supplies and equipment furnished or installed for the Improvements are <br />not subject to any lien or security interest or that the funds to be disbursed pursuant to <br />this Requisition are to be used to satisfy any such lien or security interest. <br />(f) All of the funds being requisitioned are being used in compliance with all tax covenants <br />set forth in this Funding Loan Agreement, the Project Loan Agreement, the TEL <br />Regulatory Agreement and the Tax Certificate, including that none of the proceeds of <br />the Funding Loan (including investment earnings thereon) will be used to provide an <br />airplane, a skybox or any other private luxury box, any facility primarily used for <br />gambling, health club facility or any store the principal business of which is the sale of <br />alcoholic beverages for consumption off premises. <br />(g) With respect to amounts from the Project Account of the Project Loan Fund, not less <br />than 95% of the sum of (i) the amounts requisitioned by this Requisition, plus (ii) all <br />amounts previously requisitioned and disbursed from the Project Account of the <br />Project Loan Fund, have been or will be applied by Borrower to pay the Costs of the <br />Project. <br />(h) Borrower is not in default under the Project Loan Agreement, the Construction <br />Continuing Covenant Agreement or any of the other Project Loan Documents to which <br />it is a party, and nothing has occurred to the knowledge of Borrower that would prevent <br />the performance of its obligations under such documents.