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times <br />shall <br /> <br />(e) Time for Submission of Evidence of Equity Capita.l, <br /> Mortage Financing ~n--~ construct~on Documents. At the <br /> set forth ~]~{ the Schedule of Performance the RedeveloPer <br /> <br />submit to the Agency for its approval the following: <br /> <br />A copy of the con~itment or commit- <br />ments obtained by the Redeveloper for <br />the mortgage loan or ].oans to assist <br />in financing the construction of the <br />Phase I and Phase II improvements (as <br />defined ix] Section 303 hereof), certi- <br />fie~ by the Redeveloper to be a true <br />and correct copy or copies thereof; <br /> <br />(ii) <br /> <br />A copy of the mortgage loan agreement <br />between the Redeveloper and the lender <br />which shall provide that the loan pro- <br />ceeds shall be used only for the con- <br />struction cost and other costs reason- <br />ably necessary for improvements on the <br />Property or portions thereof. Said <br />loan agreement shall be approved or dis- <br />approved within five (5) days after <br />receipt by the Agency. The Agency <br />shall not unreasonably withhold.its <br />approval. <br /> <br />(iii) <br /> <br />Evidence satisfactory to tile Agency <br />tha't the interim mortgage loan to <br />assist in financing the construction <br />of such improvements has been in- <br />itially closed; <br /> <br />(iv) <br /> <br />A COl')y of.the contract between the <br />Redeveloper an{] the general contrac- <br />tor for the construction of such im- <br />provements, certified by the Redeve- <br />loper to be a true and correct copy <br />thereof; and <br /> <br />(v) <br /> <br />A copy of the contract bonds provided <br />by the general contractor in connec- <br />tion with the aforesaid construction <br />contract which bonds shall be in a <br />peual sum equal to not less than one <br />hundred pcrcellt (100%) of the contract <br />T,rJce under sa.id construction contract,' <br />ce~;tificd by the Redeveloper to be a <br />.true and correct copy thereof.' <br /> <br />-11- <br /> <br />MAR 18 1977 <br /> <br /> <br />