7.5 HRSR 05-01-2017 - Laserfiche WebLink

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part of the Loan Property is located in an area designated as being a flood plain or flood hazard area as defined by the Flood Hazard Boundary Map published by the Federal Insurance Administration. (h) Compliance with Laws, Etc. Deliver to Lender such evidence as Lender may require as to the compliance of the Loan Property with: (i) all applicable laws, codes, rules, regulations and ordinances, including, without limitation, those relative to environmental protection, protection of wetlands, building and zoning matters and the Americans with Disabilities Act; and (ii) the requirements of any restrictive covenants, conditions and restrictions; conditional use permit or planned unit development applicable to the Loan Property. (i) Hazardous Substances. Deliver to Lender evidence acceptable to Lender, that: (i) the Loan Property has not been used as a hazardous waste storage facility or burial site; (ii) the soil is free from hazardous waste, hazardous substances, pollutants and contaminants; and (iii) no hazardous waste, hazardous substance, pollutant or contaminant has been used in the construction or use of any building or other improvement on the Loan Property. For purposes of this paragraph (i), the terms "hazardous waste," "hazardous substances," "pollutants" and "contaminants" shall include, but not be limited to, polychlorinated biphenyls (PCBs), asbestos, petroleum products and any other chemical or substance determined to be a hazard to human health or the environment. 0) Program Fee. Deliver to Lender the program fee of $2,000; the Lender acknowledges that the Borrower has previously paid the Lender's program fee. (k) 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. (1) Project Cost and Source of Funds Certificate. Deliver to Lender a sworn certificate detailing costs and sources of funds to be utilized for the Project ( "Project Cost Certificate "), in a form acceptable to Lender, verified on oath by a authorized representative of Borrower showing an itemized breakdown of. (i) the source and amount of all Project funds; and (ii) of the total cost of the Project. Not less than 50% of the Project funds must come from a source other than the Loan proceeds. 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. (m) Blighted Condition. Deliver to the Lender evidence that at least one building on the Loan Property is structurally substandard as established by Minnesota Statutes, Section 117.025, subdivision 7. Lender may waive any of the above requirements in its sole discretion. 3 498527v1 EL185 -51