HABITAT FOR HUMANITY OF ORANGE COUNTY (2)

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4.6 Final Disbursement. City's obligation to disburse that portion of the Grant funds retained pursuant to Section 6.12 (the final ten percent (10%) of the Grant funds) is subject to the satisfaction of the following additional conditions precedent: (a) Construction complete. The construction of the Project shall be complete. (b) Certificate of Occupancy Issued. Any portion of the construction work requiring inspection or certification by any Governmental Authority shall have been inspected and certified as complete. Developer shall request that the City of Santa Ana Planning and Building Agency issue. a Certificate of Occupancy, or similar document as applicable, a copy of which shall be delivered to the City Project Manager, in order for final disbursement to occur. (c) Lien Free. At least one of the following shall have occurred: (i) Thirty-five (35) days shall have passed since the recording of a valid notice of completion for the construction, and no mechanic's or materialman's lien shall be outstanding; or (ii) Ninety-five (95) days shall have passed since actual completion of the construction, and no mechanic's or materialman's lien shall be outstanding, or Developer shall have bonded over any such lien to City's reasonable satisfaction. 4.7 Waiver of Conditions. The conditions set forth pertaining to City's obligation to make disbursements of the Grant proceeds are for City's benefit only and the City Project Manager may waive all or any part of such rights by written notice to Developer. 4.8 Manner of Disbursement. City may make any disbursement by check or wire transfer payable to Developer. 4.9 Waiver of Disbursement Conditions. Unless City otherwise agrees in writing, the making by City of any disbursement with knowledge that any condition to such disbursement is not fulfilled shall constitute a waiver of such condition only with respect to the particular disbursement made, and such condition shall be conditioned to all further disbursements until fulfilled. 4.10 Other Terms and Conditions of Grant. (a) Any disbursed Grant amounts not already expended for development and construction shall become immediately due and payable by Developer back to City, in the event of any of the following: (1) Failure to complete the Project within two (2) years of the date of the first disbursement, unless extended due to Force Majeue delays;