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7.2. HRSR 04-04-2016
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7.2. HRSR 04-04-2016
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City Government
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HRSR
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4/4/2016
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(g) Insurance. Deliver to Lender: (i) a certificate or policy for all insurance <br /> required, under the terms hereof to be maintained by Borrower; and (ii) evidence that no <br /> part of the Loan Property is located in an area designated as being a flood plain or flood <br /> hazard area as defined by the Flood Hazard Boundary Map published by the Federal <br /> Insurance Administration. <br /> (h) Compliance with Laws, Etc. Deliver to Lender such evidence as Lender <br /> may require as to the compliance of the Loan Property with: (i) all applicable laws, <br /> codes, rules, regulations and ordinances, including, without limitation, those relative to <br /> environmental protection, protection of wetlands, building and zoning matters and the <br /> Americans with Disabilities Act; and (ii) the requirements of any restrictive covenants, <br /> conditions and restrictions; conditional use permit or planned unit development <br /> applicable to the Loan Property. <br /> (i) Hazardous Substances. Deliver to Lender evidence acceptable to Lender, <br /> that: (i) the Loan Property has not been used as a hazardous waste storage facility or <br /> burial site; (ii) the soil is free from hazardous waste, hazardous substances, pollutants and <br /> contaminants; and (iii) no hazardous waste, hazardous substance, pollutant or <br /> contaminant has been used in the construction or use of any building or other <br /> improvement on the Loan Property. For purposes of this subparagraph, the terms <br /> "hazardous waste," "hazardous substances," "pollutants" and "contaminants" shall <br /> include, but not be limited to, polychlorinated biphenyls (PCBs), asbestos, petroleum <br /> products and any other chemical or substance determined to be a hazard to human health <br /> or the environment. <br /> ) Program Fee. Deliver to Lender the program fee of $2,000; the Lender <br /> acknowledges that the Borrower has previously paid the Lender's program fee. <br /> (k) Indemnity. Deliver to Title any indemnity agreement in favor of Title in <br /> the form required by Title in order for Title to issue the title insurance policies referred to <br /> above. <br /> (1) Lease. Deliver to Lender a copy of the lease agreement for the use of the <br /> Loan Property, executed no later than the date of this Agreement, by and between <br /> Borrower, as landlord, and Entity Guarantor, as tenant(the "Lease"). <br /> Lender may waive any of the above requirements in its sole discretion. <br /> 5. Disbursement of Loan. Upon receipt by Lender of all of the items required <br /> pursuant to Section 4 above in the form and condition required therein and confirmation from <br /> Title that Title is prepared to issue the mortgagee's title insurance policy as required herein, <br /> Lender agrees to disburse the Loan proceeds to Borrower. <br /> 6. Access to Loan Property. Lender and its respective representatives shall have at <br /> all reasonable times the right to enter and have free access to the Loan Property and the right to <br /> inspect the Loan Property. <br /> 3 <br /> 477330v1 EL185-40 <br />
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