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(c) Title Insurance Policy. Deliver to Lender a mortgagee's title <br /> insurance policy ("Title Policy"), from Title issued to Lender in the amount of <br /> $90,000.00 with respect to the Mortgage and insuring that the Mortgage is a <br /> second lien on the Loan Property, subject only to a mortgage made or granted by <br /> way of security for,and only for,the purpose of obtaining construction, interim or <br /> permanent financing necessary to enable Borrower to construct the Improvements <br /> or any component thereof,free and clear of mechanic's liens,materialmen's liens, <br /> taxes, special assessments, rights of parties in possession, other than the rights of <br /> tenants as tenants only under existing leases, and questions of survey and subject <br /> only to exceptions approved in writing by Lender. <br /> (d) Organizational Documents and Resolutions. Deliver to Lender <br /> copies of the (i) articles of organization for Borrower certified by the Minnesota <br /> Secretary of State, (ii) operating agreement and member control agreement for <br /> Borrower, (iii) a certificate of good standing for Borrower issued by the <br /> Minnesota Secretary of State; and(iv) a certified copy of resolutions of Borrower <br /> authorizing the execution and delivery of this Agreement,the Note,the Mortgage, <br /> and any other document to be executed by Borrower pursuant to this Agreement. <br /> (e) Insurance. Deliver to Lender (i) a certificate or policy for all <br /> insurance required, under the terms hereof or of the Mortgage, to be maintained <br /> by Borrower, and (ii) evidence that no art of the Loan Pro a is located in an <br /> Y part Property <br /> area designated as being a flood plain or flood hazard area as defined by the Flood <br /> Hazard Boundary Map published by the Federal Insurance Administration. <br /> (0 Compliance With Laws, Etc. Deliver to Lender such evidence as <br /> Lender may require as to the compliance of the Loan Property and the <br /> Improvements with (i) all applicable laws, codes, rules, regulations and <br /> ordinances, including, without limitation, those relative to environmental <br /> protection,protection of wetlands,building�p g and zoning matters and the Americans <br /> with Disabilities Act, and (ii) the requirements of any restrictive covenants, <br /> conditions and restrictions; conditional use permit and/or planned unit <br /> development applicable to the Loan Property. <br /> • <br /> (g) Hazardous Substances. Deliver to Lender evidence acceptable to <br /> Lender, that (i)the Loan Pro ert has not been used as a hazardous waste storage Property <br /> facility or burial site, (ii) the soil is free from hazardous waste, hazardous <br /> substances, pollutants and contaminants, and (iii) no hazardous waste, hazardous <br /> substance, pollutant or contaminant has been used in the construction or use of <br /> any building or other improvement on the Loan Property. For purposes of this <br /> subparagraph, the terms "hazardous waste," "hazardous substances," "pollutants" <br /> and"contaminants"shall include,but not be limited to,polychlorinated biphenyls <br /> (PCBs), asbestos, petroleum products and any other chemical or substance <br /> determined to be a hazard to human health or the environment. <br /> 385593v4 JSB EL185-12 <br /> -3- <br />