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iWa:11:111VA <br />(d) No Default. No Event of Default by Developer shall remain uncured <br />(unless, to the extent permitted under this Agreement, Developer is diligently taking action <br />to cure such default) and no event shall have occurred which, with the giving of notice or <br />the passage of time or both, would constitute an Event of Default by Developer. <br />4.6 Final Disbursement. City's obligation to disburse that portion of the Grant <br />funds retained pursuant to Section 6.12 (the final ten percent (10%) of the Grant fiends) is <br />subject to the satisfaction of the following additional conditions precedent: <br />(a) Construction complete. The construction of the Project shall be <br />complete. <br />(b) Certificate of Occupancy Issued. Any portion of the construction work <br />requiring inspection or certification by any Governmental Authority shall have been <br />inspected and certified as complete. Developer shall request that the City of Santa Ana <br />Planning and Building Agency issue a Certificate of Occupancy, or similar document as <br />applicable, a copy of which shall be delivered to the City Project Manager, in order for <br />final disbursement to occur. <br />(c) Lien Free. At least one of the following shall have occurred: <br />(i) Thirty-five (35) days shall have passed since the recording of a <br />valid notice of completion for the construction, and no mechanic's or materialman's lien <br />shall be outstanding; or <br />(ii) Ninety-five (95) days shall have passed since actual completion <br />of the construction, and no mechanic's or materialman's lien shall be outstanding, or <br />Developer shall have bonded over any such lien to City's reasonable satisfaction. <br />4.7 Waiver of Conditions. The conditions set forth pertaining to City's <br />obligation to make disbursements of the Grant proceeds are for City's benefit only and the <br />City Project Manager may waive all or any part of such rights by written notice to <br />Developer. <br />4.8 Manner of Disbursement. City may make any disbursement by check or <br />wire transfer payable to Developer. <br />4.9 Waiver of Disbursement Conditions. Unless City otherwise agrees in <br />writing, the making by City of any disbursement with knowledge that any condition to such <br />disbursement is not fulfilled shall constitute a waiver of such condition only with respect <br />to the particular disbursement made, and such condition shall be conditioned to all further <br />disbursements until fulfilled. <br />4.10 Other Terms and Conditions of Grant. <br />9 <br />80A-17 <br />