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C. The aggregate disbursement of all or any portion of a Disbursement <br />Request submitted to the Program for eligible hard construction <br />costs under the Construction Contract shall be limited to an amount <br />equal to ninety percent (90%) of such costs with the ten percent <br />(10%) being retained except for the final disbursement of Program <br />Funds. The ten percent retained amount shall be disbursed as part <br />of the final disbursement as set forth in Paragraph 18 hereof. <br />d. There exists no Event of Default, as defined in this Agreement, or the <br />Standard Agreement, or event, omission or failure of condition which <br />would constitute a default or Event of Default after notice or lapse of <br />time, or both that will not be cured concurrently with the funding of <br />the Program Funds. <br />e. Recipient has satisfied all requirements for receipt of the Program <br />Funds in accordance with the applicable statutes and the Guidelines. <br />Right to Condition Disbursements. The Department shall have the <br />right to condition any disbursement upon receipt and approval of <br />such documentation, evidence or information that the Department <br />may request, including, but not limited to, vouchers, invoices, and <br />architect's inspector's and/or engineer's periodic certifications of the <br />percentage and/or stage of construction that has been completed. <br />15. Conditions Precedent to Individual Disbursements. The Department shall <br />not be obligated to make any disbursement of Program Funds or take any <br />other actions under this Agreement or the Standard Agreement unless all <br />of the following conditions precedent are satisfied at the time of such <br />actions: <br />Recipient has and will continue to maintain site control over the <br />Work. Recipient has provided to the Department evidence <br />demonstrating that Recipient has obtained all licenses, easements <br />and right-of-way or other interest required for completion of the Work. <br />If applicable, Recipient has provided to the Department a relocation <br />plan conforming to the requirements of state law and regulations <br />issued by the Department in California Code of Regulations Title 25, <br />Section 5000 et seq. <br />c. Recipient has executed and provided to the Department a Certificate <br />of Identity of Interest. <br />Recipient has obtained all necessary insurance policies and <br />endorsements as described in Exhibit E of this Agreement. <br />16-AHSC-11200 <br />NOFA 02/29/16 Page 7 of 35 <br />Rev: 03/16/17 <br />Project: Santa Ana Arts Collective <br />Prep Date: 08/08/17 <br />