4.9. SR 02-01-2021 - Laserfiche WebLink

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b. Such other supporting evidence as may be reasonably requested by the City, Bank or Escrow Agent to substantiate all payments, which are to be made out of the final draw request and/or to substantiate all payments, then made with respect to the project. C. Satisfactory evidence that all work requiring inspection by governmental authorities having jurisdiction, including the City, has been duly inspected and approved by such authorities and that all requisite certificates of occupancy, if applicable, and other approvals have been issued. d. Final sworn construction statement. e. The above items must be approved by the Bank prior to any final disbursement of funds. f. The Developer shall submit a maintenance bond, in a form satisfactory to the City Attorney, from the date of project acceptance, as required by the Development Agreement. 7. Not later than five business days following receipt of the documents delivered to it pursuant to the above paragraphs, the Escrow Agent will notify in writing the City and Bank as to whether the delivered documents are satisfactory to it. If documents are missing, the Escrow Agent will advise City, Bank and Developer. If the documents are supplied to the satisfaction of the City, Bank and Escrow Agent, Escrow Agent will within 3 business days transmit to the Developer the amount applied for in the relevant draw request. 8. Developer will pay parties identified in the relevant draw request, the amounts shown therein. Payment will only be made upon receipt of signed lien waivers for the amount requested. 9. The Escrow Agent will keep and maintain books and records in sufficient detail to reflect the disbursements made by it hereunder. City, Bank and Developer may, during normal business hours, examine the books and records of Escrow Agent pertaining to the disbursements made by it hereunder. The Escrow Agent shall notify the City, Bank and Developer when the fund balance is less than $50,000. 10. No liability is assumed by Escrow Agent or City to the Developer or contractors as regards protection against mechanic's lien or title claims. 11. Functions and duties assumed by the Escrow Agent include only those described in this Agreement, and the Escrow Agent is not obligated to act except in accordance with the terms and conditions of this Agreement. Escrow Agent, City and Bank do not insure that the building or construction will be completed, or that the building when completed will be in accordance with the plans and specifications, or that 0