8. EDSR 06-17-2013 - Laserfiche WebLink

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(1) Sworn Construction Statement. Deliver to Lender a Sworn Construction Statement acceptable to Lender completed and executed by Borrower 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. (m) Equity Contribution. Deliver to Lender evidence acceptable to Lender that: (i) Borrower has closed upon the Secondary Financing and that the proceeds thereof have been disbursed [to Borrower][into escrow with Title]; and (ii)Borrower has deposited into escrow with Title all of Borrower's Equity Contribution, in the amount of [One Hundred Twenty] Thousand and No/100s Dollars [($120,000.00)]. [EDA — I am assuming that Mr. Brehmer's equity and the proceeds of the Bank of Elk River financing are being used to finance the construction of the Improvements. To the extent that any of these funds are being utilized otherwise, several of the subsections in this section 4 will need to be revised] (n) Lien Waivers. To the extent that Borrower has expended any funds on items set forth in the Project Cost and Source of Funds Certificate, to Deliver to Lender an original written lien waiver from each contractor, subcontractor and supplier who performed work or supplied materials to the Project. (o) Property & Financing Documents. Deliver to Lender a copy of: (i) the executed Contract for Deed; (ii) a consent to the Mortgage from the Contract for Deed vendor, in the form attached to the Mortgage as Exhibit C; (iii) all documents by and between the Bank of Elk River, as lender, and Borrower, as borrower, evidencing that certain Seventy-one Thousand One Hundred Ten and No/100s Dollar ($71,110.00) loan facility (the "Secondary Financing"); (iv) a consent to the Mortgage from the Bank of Elk River, in the form attached to the Mortgage as Exhibit D; and (v) the Certificate of Occupancy for the Loan Property. The Certificate of Occupancy will be considered timely if Borrower delivers it to Lender promptly after receipt and in any case, not more than sixty(60)days after the Closing Date. (p) CIP Audits. Deliver to Lender copies of the: (i) pre- commencement Conservation Improvement Program audit for the Loan Property; (ii) the list of approved Program Improvements and related rebates, if any; (iii) post-completion Conservation Improvement Program audit for the Loan Property. The post-completion Conservation Improvement Program audit for the Loan Property will be considered timely if Borrower delivers it to Lender on or before the thirtieth (30th) day after issuance of the Certificate of Occupancy for the Loan Property. -5-