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76006513
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Last modified
7/15/2017 8:24:19 PM
Creation date
9/16/2014 10:11:11 AM
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DEEDS
Inst Number
76006513
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, ' y <br /> pV .. . . � � .P ' . <br /> ti� � � . . . . . . . . i .b: <br /> a. ^ � y%,x' <br />� . :;;: «��. <br />,, p�„�.., � � <br /> 6- <br />, . <br /> � � - <br /> ,� �� 76. 006513 � <br /> ;�: <br /> s � 5 ) that the amount remaining in the Construc- <br /> ' ;� tion Account of the Construction Fund , together with <br /> �� ( i ) the amount of income which the Lessee estimates <br /> � will be earned from the investment of monies on deposit <br /> � in the various Funds established hereunder during the <br /> !^ Construction Period and ( ii ) the amount of funds <br /> cortunitted to the Lessee for construction of the Pro� - <br /> �` ect throu�h bank loans ( which shall be enumerated ) or <br /> ,� through loans ta be made by the Sisters pursuant to <br /> ;f the Loan Agreement will , after payment of the amounts <br /> u; then requested , be sufficient to pay the cost of <br /> `a completing the acquisition and construction of the <br /> "' Pro,� ect in accordance with the construction contracts <br /> '' then in effect and on file with the Trustee . <br /> J <br /> � ( b ) A certificate of an Independent Architect stating <br /> '' that he has read each iJritten Request submitted pursuant to <br /> ':2 subdivision ( a ) above and approves the payment to be made <br /> � pursuant to said reGuest as a payment or reimbursement for <br /> 4a a portion of the cost of the acquisition and constructlon of <br /> a the Pro,ject under contracts , plans and specifications approved <br /> � � by said Independent Architect and further stating that the <br /> �: amount of £unds remaining in the Construction Account of the <br /> -s Construction Fund together with ( i ) the amount of income <br /> ;� which the Lessee estimates will be earned from the investment <br /> �a of monies on deposit in the various Funds established here - <br /> .� under durin� the Construction Period and ( ii ) the amount of <br /> funds eommitted to the Lessee for the construction of the <br /> Pro� ect throu�h bank loans or loans from the Sisters as set <br /> x ; forth in and in reliance upon said l�lritten Request , ��rill be <br /> " � sufficient to pay the cost of comoleting the acquisition and <br /> � construction of the Pro�tect in accordance with the contracts , <br /> � _.; plans and specifications for the Pro,� ect on file i•rith the _ <br /> Trustee . <br /> � <br /> � ` Upon receipt of each lJritten Request and the accompanyin� <br /> , ', certificate of the Independent Architect , if required , the Trustee <br /> = shall pay the obligation set forth in such Request out of moneys in <br /> ,- the Construction Fund . In making such payr�ents the Trustee may rely <br /> ' upon such Request and accompanyin� certificate . If for any reason <br /> the Lessee should decide prior to the payment of any item in any such <br /> Request not to pay such item it shall �,ive riritten notice of such . <br /> decision to the Trustee and thereunon the Trustee shall not make <br /> such payment . <br /> : :: ; <br /> '.:�' <br /> � - 38- <br /> :�;:: <br /> Tj � Yr }: <br /> N <br /> L,: _ � : _ � � <br /> � , : � ;. <br />, � � <br />� � . <br />§ _ <br /> L � <br /> � � <br />_� <br />
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