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cause to be purchased and installed all of the Personal Property which is contemplated by the
<br /> Development Budget to be purchased and installed, (iii) provide MBI with copies of all applicable
<br /> certificates of occupancy for the use and occupancy of the Project from the local governmental authority,
<br /> and (iv) provide MBI with an executed Certificate of Substantial Completion issued by Borrower's
<br /> architect with respect to the Improvements. The Improvements shall be constructed or rehabilitated
<br /> strictly in accordance with all applicable building codes, ordinances and statutes and the requirements of
<br /> all regulatory authorities having jurisdiction and the Board of Fire Underwriters, or similar body, entirely
<br /> on the Real Estate without any encroachments or overhangs,within the building restriction lines,however
<br /> established, and without any violation of any applicable use restrictions or other restrictions. The Plans
<br /> and Specifications shall be certified by the architect employed by Borrower as in compliance with the
<br /> Americans with Disabilities Act of 1990 (42 U.S.C. 12101 et seq.) and the Americans with Disabilities
<br /> from time to time). Borrower shall from time to time
<br /> Act of 1990 Architectural Guidelines (as amended )
<br /> upon request by MBI furnish satisfactory evidence of compliance with the foregoing, together with any
<br /> surveys required by MBI to show that the Improvements are entirely on the Real Estate and no violations
<br /> as aforesaid exist.
<br /> Section 11.2 Changes in Plans and Specifications. Borrower shall make no material changes
<br /> in the Plans and Specifications, any architect's contract, any engineer's contract, any construction
<br /> manager contract, any contract for the purchase or installation of the Personal Property, or any
<br /> construction contract, nor shall any change orders be made thereunder, without the prior written consent
<br /> of MBI,which consent shall not be unreasonably withheld, conditioned, or delayed. Notwithstanding the
<br /> foregoing, MBI's consent shall not be required for any change order which does not (i) involve a
<br /> reduction in the scope of the Project, (ii) involve a reduction in the value of the Project, (iii) materially
<br /> affect the electrical, plumbing, mechanical, HVAC or structural portions of the Project, (iv) materially
<br /> change the gross square footage of the Improvements or the number of rooms, floors, or basic layout of
<br /> the Improvements, (v) materially change the parking layout for the Project, (vi) materially change the
<br /> quality of any materials for the Improvements, (vii) extend the estimated completion date for the
<br /> Improvements beyond the Target Completion Date, (viii) involve an expenditure exceeding five percent
<br /> (5%) of the contract amount as to any individual change order,provided after such change order the Loan
<br /> remains "In Balance" as required by Section 16.1, or(ix) involve,as to the aggregate of all change orders,
<br /> an expenditure exceeding five percent (5%) of the total construction cost for the Improvements as set
<br /> forth in the Development Budget, provided after such change order the Loan remains "In Balance" as
<br /> required by Section 16.1. All change orders must be included on AIA Form G702/G703 (or such similar
<br /> forms acceptable to MBI) and copies must be promptly furnished to MBI. Borrower hereby authorizes
<br /> MBI to contact any contractor, subcontractor or material supplier to discuss the course of construction or
<br /> rehabilitation of the Improvements.
<br /> ARTICLE XII.
<br /> PAYMENT OF FEES AND EXPENSES
<br /> Section 12.1 Payment of Loan Fees and Expenses. In addition to all of the terms and
<br /> conditions to be performed by Borrower under this Agreement, Borrower shall pay to MBI at the time of
<br /> the execution of this Agreement, if Borrower has not previously paid, a commitment and service fee of
<br /> and 00/100 Dollars ($ ) or one half of one percent (0.50%) of
<br /> the Loan, whichever is greater,and shall reimburse MBI upon demand for all costs and expenses incurred
<br /> in connection with the Loan and the Bonds, including but not limited to premiums and fees of title
<br /> insurance companies,recording fees, lien search fees, survey expenses,the fees of inspecting architects or
<br /> engineers, fees and expenses of MBI's counsel, appraisal fees, fees for environmental studies, mortgage
<br /> and intangible taxes and other miscellaneous expenses connected with the Loan or the Bonds. Borrower
<br /> also shall pay upon demand all fees charged by MBI in connection with MBI's review of any appraisal
<br /> reports, inspection reports, environmental reports and any other reports or material required to be
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