5. HRSR 05-02-2011 - Laserfiche WebLink

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(h) Indemnity. Deliver to Title any indemnity agreement in favor of Title in the form required by Title in order for Title to issue the title insurance policies referred to above. (i) Project Cost and Total Equity Contribution Certificates. Deliver to Lender a sworn project cost certificate ("Project Cost Certificate"), in a form acceptable to Lender, verified on oath by the [sole member of] Borrower, showing the itemized breakdown of the total cost of the Improvements, including, without limitation, the cost of constructing the Improvements, special assessments, soft costs and all other costs and charges to be paid from the Loan or necessary to complete the Improvements, and a Certificate of Total Equity Contribution showing the portion of all such costs and charges paid to the date of the Project Cost Certificate. Borrower shall deliver to Lender lien waivers, receipts for payment and other evidence of payment acceptable to Lender with respect to any such portion of costs and charges incurred to the date of the Project Cost Certificate. (j) Sworn Construction Statement. Deliver to Lender a Sworn Construction Statement acceptable to Lender completed and executed by Borrower and Borrower's general contractor which identifies all subcontractors and suppliers having a contract with the Borrower or Borrower's contractor and the amount of the contract between Borrower or Borrower's contractor and each subcontractor or supplier with respect to the construction of the Improvements. (k) Personal Guaranty. Deliver to Lender the Personal Guaranty, executed by Robert G. McDonald, Denise A. McDonald and Gerald H. McDonald (the "Guarantors") guaranteeing the obligations of the Borrower under the Note. (1) Project Financing. Deliver to Lender evidence the Borrower has closed on the construction loan or loans providing financing for the construction of the Improvements in an amount sufficient, together with equity contributed by the Borrower as shown in the Project Cost Certificate, to pay all costs shown in the Sworn Construction Statement. (m) Expend Funds; Lien Waivers. Deliver evidence acceptable to Lender that Borrower has completed the Improvements not later than December 31, 2011 and paid all costs referred to in the Project Cost Certificate, and provide an original written lien waiver from each contractor, subcontractor and supplier who performed work or supplied materials which were paid for out of Borrower's Total Equity Contribution. Lender may waive any of the above requirements in its sole discretion. 5. Disbursement of Loan. Upon (a) receipt by Lender of the items required pursuant to paragraph 4(a) - (1) above, (b) issuance by the City of a building permit for the Improvements, (c) receipt by Lender of a signed settlement statement in connection 385593v3 JSB EL185-12 -4-