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<br />S6-5 <br />Little Canada-Lupe - Borrower Loan Agreement - LC Apartments(199386221.3) - 5/12/2026 6:38:21 PM <br />8. Contracts. Evidence that one hundred percent (100%) of the cost of the remaining Work is covered <br />by firm fixed price or guaranteed maximum price contracts or subcontracts, or orders for the supplying of <br />materials, with contractors, subcontractors, materialmen or suppliers satisfactory to the Controlling Person, <br />and that the Payment and Performance Bonds have been obtained, as required. <br />9. Mechanics’ Liens. The Controlling Person may withhold or refuse to fund any advance hereunder <br />if any mechanic’s lien has been filed or recorded and not bonded over or otherwise collateralized to the <br />satisfaction of the Controlling Person, or if notice of intention to record or file any such lien has been <br />received. <br />10. Lien Waivers. No sums shall be disbursed until the Borrower has delivered a waiver or full, <br />conditional or partial release of liens from all contractors, subcontractors, materialmen or others who may <br />be entitled to a lien, as permitted by law for the work supplied or materials provided and for which payment <br />is requested, and with respect to all contractors, subcontractors, materialmen or others entitled to a lien for <br />work done or materials provided and paid from any prior advance funded by reliance on conditional lien <br />waivers, on unconditional waiver or release of lien with respect to such work. <br />11. Required Equity Funds. All installments of Required Equity Funds which shall be then due and <br />payable under the Partnership Agreement shall have been deposited with the Fiscal Agent. <br />12. Release of Retainage. In addition to the conditions set forth in this Section, the Controlling Person’s <br />obligation to approve any Requisition for Retainage shall be subject to receipt by the Controlling Person of <br />the Engineering Consultant’s certification of completion as to the Work performed under any contract or <br />subcontract for which the Retainage will be disbursed. <br />13. Loan Rebalancing. The Controlling Person shall not be obligated to authorize any further advances <br />until the requirements of Section 6.32 of this Agreement have been satisfied. <br />14. Material Change Orders. No Material Change Order shall have been made without the written <br />approval of the Controlling Person.