05-27-2026 Council Packet - Laserfiche WebLink

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iv Little Canada-Lupe - Borrower Loan Agreement - LC Apartments(199386221.3) - 5/12/2026 6:38:21 PM Section 8.2 Deposits to Tax and Insurance Escrow Account ..................................... 38 Section 8.3 Establishment of Operating Reserve Fund .............................................. 38 Section 8.1 Investment ................................................................................................ 39 Section 8.2 Security Interest in Accounts ................................................................... 39 Section 8.3 Liability of Fiscal Agent .......................................................................... 39 ARTICLE 9 CONSTRUCTION AND FUNDING OF ADVANCES ........................................ 39 Section 9.1 Construction of Project Facilities; Completion and Stabilization............ 39 Section 9.2 Making the Advances. ............................................................................. 40 Section 9.3 Advances to Contractors; to Others ......................................................... 40 Section 9.4 Requisition ............................................................................................... 40 Section 9.5 Project Costs ............................................................................................ 40 Section 9.6 Retainage.................................................................................................. 40 Section 9.7 Contingency Reserve ............................................................................... 40 Section 9.8 Stored Materials; Removal of Materials .................................................. 41 Section 9.9 Cost Overruns and Savings ...................................................................... 41 Section 9.10 Right to Retain the Engineering Consultant ............................................ 42 Section 9.11 Inspections ............................................................................................... 42 Section 9.12 Initial Advances ....................................................................................... 42 Section 9.13 Subsequent Advances .............................................................................. 42 Section 9.14 Construction Information and Verification .............................................. 42 Section 9.15 Effect of Approval ................................................................................... 43 ARTICLE 10 MISCELLANEOUS ............................................................................................. 43 Section 10.1 Notices ..................................................................................................... 44 Section 10.2 Successors and Assigns; Third Party Beneficiaries ................................. 45 Section 10.3 Survival of Covenants .............................................................................. 45 Section 10.4 Counterparts; Electronic Signature .......................................................... 45 Section 10.5 Costs, Expenses and Taxes ...................................................................... 45 Section 10.6 Severability; Interest Limitation .............................................................. 46 Section 10.7 Conflicts ................................................................................................... 46 Section 10.8 Complete Agreement ............................................................................... 46 Section 10.9 Consent to Jurisdiction; Venue; Waiver of Jury Trial ............................. 46 Section 10.10 Governing Law ........................................................................................ 47 Section 10.11 Headings .................................................................................................. 47