14-20 Cedar Glen Bond Ordinance Addendums

Home Browse Search

(ee) Borrower has furnished to MBI a copy of executed non-residential lease, if any, affecting any portion of the Project and all such leases must contain terms and conditions acceptable to MBI. (ff) Borrower has furnished to MBI evidence that the Project is compliant with all zoning requirements, including,but not limited to,all necessary zoning variances and approvals. (gg) If required by MBI, the Construction Consultant shall have reviewed the Plans and Specifications and the Development Budget and shall have delivered to MBI a report and analysis, in form and substance acceptable to MBI, which(i) confirms the reasonable expectation that the Project can be built in accordance with the Plans and Specifications for the total cost set forth in the Development Budget,and(ii)addresses such other issues as MBI may require. (hh) [This paragraph is intentionally left blank]. (ii) [This paragraph is intentionally left blank]. (jj) Borrower has furnished written confirmation, in form and substance acceptable to MBI,that the Tax Credits are available to the Project. (kk) [This paragraph is intentionally left blank]. (11) [This paragraph is intentionally left blank]. (mm) [This paragraph is intentionally left blank]. (nn) [This paragraph is intentionally left blank]. (oo) Borrower has furnished to MBI written confirmation, in form and substance acceptable to MBI,that Issuer has authorized the issuance of, and has issued,the Bonds. (pp) [This paragraph is intentionally left blank]. (qq) Borrower has furnished to MBI fully executed copies of this Agreement, the LURA, and all other documents executed in connection with the Bonds, in form and substance satisfactory to MBI. (rr) Borrower has furnished to MBI an opinion of bond counsel in form and substance satisfactory to MBI. Section 9.2 Conditions to be Satisfied in a Manner Acceptable to MBI. All conditions required to have occurred or be satisfied under Section 4.1 shall have occurred or have been satisfied in a manner acceptable to MBI. All documents required to be delivered to MBI under Section 9.1 shall be satisfactory in form and substance to MBI. Section 9.3 No Waiver of Full Compliance. Any of the conditions set forth in Section 9.1 may be waived by MBI at the time of each advancement; however, any such waiver by MBI at the time of a particular advancement shall not be deemed or construed as a waiver of the right of MBI to require full compliance with all conditions precedent prior to the next succeeding advancement. In the event MBI, in its sole discretion, shall require further evidence of the occurrence or satisfaction of any condition precedent set forth in Section 4.1 or in the event circumstances occur whereby any condition precedent is Page 30