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503. Other Terms and Conditions of the Loans. <br />(a) The Agency Promissory Note and City Promissory Note shall become <br />immediately due and payable, in the event of any of the following: <br />(i) failure to complete the Project within the time set forth in the <br />Schedule of Performance; <br />(ii) violation of any of the use covenants and restrictions <br />contained in this Agreement or any other Project Document after the expiration of any applicable <br />notice and cure periods; <br />(iii) an Event of Default by Developer under this Agreement or <br />any other Project Document which is not timely cured after expiration of any applicable notice and <br />cure periods pursuant to the terms of this Agreement or the applicable Project Document. <br />600. CONDITIONS TO DISBURSEMENT OF LOAN PROCEEDS <br />601. Conditions Precedent. In addition to the Conditions Precedent set forth in <br />Sections 602 and 603 below, Agency/City's obligation to disburse the Loan Amounts is subject to <br />the satisfaction, or waiver by the Executive Director, of the following Conditions Precedent: <br />601.1 Loan Documents. Developer shall have delivered to the Agency, signed by <br />the authorized officer or officers of Developer, with such signature(s) acknowledged where <br />necessary, each of the following documents: <br />(a) this Agreement; <br />(b) the City Promissory Note; <br />(c) the City Deed of Trust; <br />(d) the Agency Promissory Note; <br />(e) the Agency Deed of Trust; and <br />(f) the Affordability Restrictions. <br />601.2 Design Approvals. The Developer shall have obtained approval by the <br />Agency of the Design Development Drawings as set forth in Section 302. <br />601.3 Land Use Approvals. The Developer shall have received all land use <br />approvals and permits required pursuant to Section 303. <br />601.4 Construction Contract; General Contractor. Developer shall have <br />provided to Agency and City (within a reasonable time for Executive Director to review, comment <br />and approve or disapprove) a signed copy of the Construction Contracts between Developer and the <br />General Contractor and between Developer's General Contractor and each subcontractor for the <br />construction of the Improvements inclusive of all on-site and off-site improvements required to be <br />constructed in connection therewith, if any, certified by the General Contractor to be a true and <br />250"-26