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Borrower agrees to commence construction of the Improvements promptly after <br />the Closing Date and to carry on continuously, diligently and with reasonabledispatch <br />the construction of the Improvements to full and final completion. <br />The proceeds of the Original Loan financed the construction of certain other <br />energy efficiency improvements to the Loan Property. <br />3.Borrower’sDeliverables <br />. Borrower covenants and agrees to immediately <br />cause the compliance with the following conditions, which full and timely compliance is <br />acondition precedent to Lender’s obligations under this Agreement: <br />(a)Note. Deliver to Lender the Note. <br />(b)Security Agreement. Deliver to Lender the Security Agreement. <br />The Security Agreement was executed in connection with the Original Loan and <br />remains in full force and effect. <br />(c)Guaranties. Deliver to Lender the Guaranties. <br />(d)Mortgage. Deliver to Lender the Mortgage, together with evidence <br />that the Mortgage has been or will be duly filed for record. <br />(e)OrganizationalDocumentsandResolutions -Borrower. Deliver to <br />Lender copies of: (i) the Articles of Incorporation for Borrower, certified by the <br />Minnesota Secretary of State, (ii) a certificate of good standing for Borrower <br />issued by the Minnesota Secretary of State; (iii) the bylaws for Borrower; and (iv) <br />a certified copy of resolutions of Borrower authorizing the execution and delivery <br />of this Agreement, the Note, the Security Agreement, and any other document to <br />be executed by Borrower pursuant to this Agreement. <br />(f)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 part of the Loan Property is located in an <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 />(g)ComplianceWithLaws,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 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 />533940v3 GAF EL185-57 <br />-3- <br />