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(f) Insurance City shall have received evidence satisfactory to the City <br />Attorney that all of the policies of insurance required by Section 19 of this Agreement are in fall <br />force and effect. <br />(g) Representations and Warranties. The representations and warranties of <br />Developer contained in this Agreement and the other Loan Documents shall be correct in all <br />material respects as of the Close of Escrow as though made on and as of that date, and if <br />requested by the City Project Manager, City shall have received a certificate to that effect signed <br />by Developer's Representative. <br />(h) No Default. No Event of Default by Developer shall have occurred, and no <br />event shall have occurred which, with the giving of notice or the passage of time or both, would <br />constitute an Event of Default by Developer under this Agreement, and if requested by the City <br />Project Manager, City shall have received a certificate to that effect signed by Developer's <br />Representative. <br />6.2 Disbursement Procedures for Loan(s). <br />The City Loan proceeds shall be disbursed through Escrow to finance the acquisition and <br />construction of the Project (as evidenced in Exhibit G). The City Loan proceeds shall not be used <br />for any purpose other than for acquisition and predevelopment and construction related costs, <br />including Developer fee and soft costs related to the development of the Project (costs all subject to <br />City's prior review). However, CDBG Funds shall only be used for properly rehabilitation -related <br />costs of the Project. <br />6.3 First Disbursement. City's obligation to make the first disbursement of the Loan is _ <br />subject to satisfaction of the following conditions precedent: <br />(a) General Contractor. If the City Project Manager has not yet approved the <br />General Contractor, the City Project Manager shall have approved the identity and qualifications <br />of the General Contractor. <br />(b) Contract for construction. The City Project Manager must have reviewed and <br />approved the contract for construction. <br />6.4 Termination for Failure of Condition. If (a) any of the conditions set forth herein are <br />not timely satisfied (subject to applicable notice and cure rights) or waived by the City Project <br />Manager, and (b) City is not in default under this Agreement, City may terminate this Agreement <br />without any further liability on its part by giving written notice of termination to Developer. <br />Upon the giving of such notice, all principal, interest and other amounts owing under the <br />specified due date. <br />6.5 Any Disbursement. City's obligation to make any disbursement of the Loan (including <br />the first and final disbursements is subject to the satisfaction of the following conditions <br />precedent: <br />10 <br />