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(f) Borrower has furnished to MBI evidence that it has drawn down and invested all <br /> Non-Contingent Required Equity toward the costs on the Development Budget that have been <br /> incurred by Borrower. <br /> (g) The Loan is In Balance as required by Article XVI of this Agreement. <br /> (h) To the extent any condition precedent for the initial advancement of the Loan was <br /> waived by MBI for the initial advancement of the Loan or in the event circumstances occur <br /> whereby any condition precedent for the initial advancement of the Loan is no longer wholly <br /> satisfied, Borrower has furnished to MBI such agreements, documentation, reports and information <br /> which MBI may require in order to cause such condition precedent to be fully satisfied. <br /> (i) Borrower has paid all fees, costs and expenses which Borrower is required to pay <br /> pursuant to Article XII of this Agreement. <br /> (j) No structure or improvement on the Project shall have been materially damaged <br /> by fire or other casualty, or in the event any such damage or casualty has occurred, MBI shall <br /> have received insurance proceeds or other funds from Borrower in an amount equal to the full <br /> cost, as estimated by the Construction Consultant, to fully repair and restore all such damage and <br /> casualty. The receipt by MBI of such insurance proceeds or other funds from Borrower shall not <br /> obligate MBI to advance such proceeds to restore and repair the Project unless all conditions and <br /> requirements specifically provided for under the terms of the Loan Documents for the use of <br /> insurance proceeds to restore the Project have been satisfied in full. <br /> (k) [This paragraph is intentionally left blank]. <br /> (1) [This paragraph is intentionally left blank]. <br /> (m) If requested by MBI, Borrower has furnished to MBI (i) a complete updated list <br /> of all contractors, subcontractors, suppliers,materialmen, architects and other parties who have or <br /> will provide labor, materials or services in connection with the development of the Real Estate, <br /> the construction or rehabilitation of the Improvements and the delivery and installation of the <br /> Personal Property and who may be entitled to a lien thereon and (ii) such acknowledgments of <br /> payment and releases of liens and/or lien waivers required pursuant to Article XV of this <br /> Agreement from any contractor, architect, subcontractor, mechanic, journeyman, laborer, <br /> materialman, lessor leasing construction or other equipment and tools, or other person against the <br /> Project, covering all work performed or furnished and materials supplied in the construction or <br /> rehabilitation of the Improvements and the delivery and installation of the Personal Property. <br /> respect to the final advancement of the Loan, the Improvements(n) With resP have been <br /> substantially completed in substantial accordance with the Plans and Specifications, free and clear <br /> of construction and mechanics' liens. <br /> (o) With respect to the final advancement of the Loan, all fixtures and equipment <br /> required for the operation of the Project which are to be installed or paid for by Borrower have <br /> been installed free and clear of all liens and security interests, other than MBI's lien and the <br /> Permitted Encumbrances. <br /> (p) With respect to the final advancement of the Loan for construction costs, <br /> Borrower has furnished to MBI applicable certificates of occupancy from the local governmental <br /> authority, and such other evidence reasonably satisfactory to MBI, certifying that the Project <br /> complies with all applicable zoning ordinances, building and use regulations and codes and all <br /> Page 32 <br />