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533940v3 GAF EL185-57 <br />-4- <br /> (h) Hazardous Substances. Deliver to Lender evidence acceptable to <br />Lender, that: (i) the Loan Property has not knowingly been used as a hazardous <br />waste storage facility or burial site; (ii) the soil is believed to be free from <br />hazardous waste, hazardous substances, pollutants and contaminants; and (iii) no <br />known hazardous waste, hazardous substance, pollutant or contaminant has been <br />used in the construction or use of any building or other improvement on the Loan <br />Property. For purposes of this subparagraph, the terms "hazardous waste," <br />"hazardous substances," “pollutants” and "contaminants" shall include, but not be <br />limited to, polychlorinated biphenyls (PCBs), asbestos, petroleum products and <br />any other chemical or substance determined to be a hazard to human health or the <br />environment. <br /> <br /> (i) Contractors. All contractors and subcontractors must be bonded, <br />insured and licensed to do business in the State of Minnesota and be of good <br />repute. Lender reserves the right to reject any contractor or subcontractor that <br />does not meet the requirement of the previous sentence. <br /> <br />(j) Source of Funds Certificate. Deliver to Lender a sworn source of <br />funds certificate ("Source of Funds Certificate"), in a form acceptable to Lender, <br />verified on oath by a manager of Borrower showing an itemized breakdown of: <br />(i) the source and amount of all Project funds; and (ii) of the total cost of the <br />Improvements, including, without limitation, the cost of constructing the <br />Improvements, any special assessments, soft costs and all other costs and charges <br />to be paid from the Loan proceeds and/or other Project funds or necessary to <br />complete the Improvements. Borrower shall deliver to Lender lien waivers, <br />receipts for payment and other evidence of payment acceptable to Lender with <br />respect to any such portion of costs and charges incurred to the date of the Source <br />of Funds Certificate. <br /> <br />(k) EDA Review & Rebates. Deliver to Lender copies of the list of <br />rebates related to the approved Improvements. Borrower shall work with Lender <br />to accomplish any post-Closing inspections of the Improvements. The post- <br />completion inspection of the Improvements will be considered timely if it occurs <br />on or before the thirtieth (30th) day after issuance of the Certificate of Occupancy <br />for the Loan Property. <br /> <br /> (l) Program Fee. Deliver to Lender the program fee of $2,000.00. <br /> <br />(m) Lease. Deliver to Lender a lease for the Loan Property by and <br />between Corporate Guarantor, as landlord, and Borrower, as Tenant. <br /> <br />Lender may waive any of the above requirements in its sole discretion. <br /> <br /> 4. Disbursement of Loan. Upon receipt by Lender of the items required <br />pursuant to paragraph 4 above, the Lender shall disburse the proceeds of the New Loan to <br />the Borrower.