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basect on his/her owvru inspections or other tet;iabIc inIbrrrration, thaat the rc habit nation 'is <br />proprcwsirrg. satis'flaoorilyunn conformance with all applicable laws and other rexluarennents <br />(including i 100E regulations). <br />(b) Condition of'l "itle l ither (i) the Exec utiyc Director reasonably <br />believes, that no event has occurred sinc:c the Close art' Escrow Iharl would p,ive, ruse ta:r as <br />colorable e:Ui i against the Property ( ., a rarcclrunc's lien) sriperior to.) the clam of Cify <br />against the Property with respect to the subject disbursement, oa (ti) City rrrust have <br />received, at Developer's expense but payable out of the Rehabilitation Proceeds, from the <br />title insurer who issued City's LP -10 "Title Policy, all enursentcrats thereto then <br />reasonably required by City. <br />(c) uC c presentations a rid ,arrarntsas. ` he reprc:senlartier is atrcl <br />a <br />warnics of Developer ccrnaincd in thus Agr cement and the other City Loan Doeurnrrts <br />sluall be correct as of the date of the ditilrourwcrnQrut as t:hougli made on and as ofthat date. <br />(d') No Default. No Event of Default by D",cloper shall remain <br />crrrcurcci and 110 event slrall have occurred Which, vwaat1n the givirig,, of notice err the passage <br />ofnone or both, would constitute an Event ol'Dctluult by Developer. <br />66 h'itaarl Disbursement. City's obligation to disburse Hurt portion of the <br />rehabilitation portion retained pursuant to Section 6.12 is subject to the satisfaction of the <br />following additiorntl condition precedent: <br />(a,) Rehabilitation bilitation C "omp,lete, The rehabilitation shalt he corripletc. <br />('h;) C erirf cate oP(" QaU2any 1,5,ppcl !1�any portion allure rehabuhtation <br />recltuiring inspection or cerfitiQa�rtion by any C;ovcrnmcnlat Authority shall 'have been <br />inspected .und cerfificd as complete. Devo opur• shall rc(luest that the Building Department <br />ussrae a C'c.rti:ficatc of Occupancy, a copy oP which shall be delivered to the Exeeut:ivve <br />Director, in order I'm final dist)ursennent to occtm <br />(c) Lien Farce. At least one of ttrc following shall have occurred: <br />(a) `t "hirty-fivc (35) days shall have passed since the <br />recording of a valid notice ofcomph.- ion for the rehahilit:atttarn, and no meehania's <br />or rrraterial roan's lien shall lie outstanding; or <br />(ui) Ninty -five (95) days shall have passed since actual <br />comptction of the rehabilitation, and no mechanic's or maateriatman's lien shstll be <br />anutStaanding, or Duveloper shall have 'bonded over aarry snelr lien It, City's reasonable <br />., s[uaction. <br />fa 7 Waiver of Conditions. The conditions set forth pertaining to City's <br />obligation to make disbur envents of the rehabilitation portion arc for City's benefit only <br />and the i7xecutive mi -ector may waive alt a:qr any part of" sueh rights by written notice to <br />Developer.. <br />251118 <br />