05-27-2026 Council Packet - Laserfiche WebLink

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6 199386222v3 (ii) the Controlling Person shall have received a copy of the final Plans and Specifications containing all Change Orders and there shall have been no Material Change Orders other than Material Change Orders approved by the Controlling Person; (iii) the Controlling Person shall have received from the Architect, and the Engineering Consultant shall have approved, a certificate of the Architect in the form attached as Exhibit A to the form of Construction Closeout Deliveries Certificate of completion attached as Schedule 9 to the Borrower Loan Agreement and otherwise customary for projects of the scope of the Work for the Project Facilities with respect to completion of the Work at the Project Facilities; (iv) all material Work set forth in the Plans and Specifications for the Project Facilities shall have been incorporated into the Improvements at the Project Facilities; (v) except for Permitted Encumbrances and Impositions not then due and payable, the Project Facilities shall be free of any and all private or governmental charges, claims or Liens (filed or not) of any nature, excepting only the liens and security interests in favor of the Funding Lender (or the Fiscal Agent for the benefit of the Funding Lender) and any other encumbrances approved by the Controlling Person in writing; (vi) with respect to all contractors and subcontractors and materialmen (for contracts less than $50,000, only as required by the Title Company; provided that the Title Company insures over any mechanics’ and materialmen’s liens arising from such excepted contractors, subcontractors or materialmen), the Borrower shall have obtained an unconditional waiver and release (or a conditional waiver and release conditioned solely upon receipt of final payment) of mechanics’ and materialmen’s liens for all of the Improvements at the Project Facilities and true copies thereof have been delivered to the Controlling Person; (vii) the Construction Closeout Deliveries Certificate in the form required under the Borrower Loan Agreement shall have been provided to the Controlling Person and shall be reasonably acceptable to the Controlling Person; (viii) an endorsement down dating the Title Policy insuring the Mortgage as a first lien, subject to Permitted Encumbrances; (ix) if construction work resulted in new structures or expansion of foot prints of the existing structures, the Controlling Person shall have received an as-built ALTA/NSPS survey certified to the Fiscal Agent, the Funding Lender and the Controlling Person; (x) the Final Use of Proceeds Certificate in the form required under the Borrower Loan Agreement shall have been provided to the Controlling Person and shall be reasonably acceptable to the Controlling Person; and (xi) the Borrower has, in form and substance reasonably acceptable to the Controlling Person, completed the Environmental Completion Conditions “Construction Contract” means the guaranteed maximum price contract, dated on or about [________], 2026 between the Borrower and the Contractor, providing for the construction of the Improvements and certification of Requisitions, among other things, as the same may be amended, modified or supplemented from time to time.