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2010078b3 (b) Requisitions can be submitted monthly to the Authority by no later than the tenth (10 day of each month. Each Requisitian must be submitted for approval to the Authority, together with the completed and executed documents listed in Exl�ibit D, each in form and substance reasonably satisfactory ta the Authority (the "Ihaw Documents"). (c) The Authority shall submit a request for the Section 1602 Program Funds to the Treasury in an amount equal to the approved amount of the current Requisition (not to cxceed, in the aggregate, the amount of the Subawaxd) within five (5) Business Days of approval by the Authority of th� Draw Documents. (d) The Owner shall cooperate with the Authority in abtaining and providing any additional documentation that may be required by the Treasury to approve the request for the Section 16Q2 Program Funds. (e) �'he Autharity will withhold ten p�rc�nt (10%) af the Subaward as retainage. Such retainage shall be released with the final disburscment of the Subaward; provided the Owner has satisfactarily perfarmed the described wark in accardance with this Agreement, tl�� Recapture D�ed of Trust and the Program Requirem.ents have been met. ( fl The Ovcrner acknowledg�s and agrees that no Subaward shal� be disbursed after the Expiration Date; provided, however, that the Expiration Date may be extended at the sole discretion of the Autharity. To requcst an extensian of the �xpiratian Date, Che �wner must submit to the Authority for their review and appraval dacumenta�ion (in form and substatace acceptable ta the Authority) reflecting that at l�ast thirty pereettt (30%) of the total adjusted basis 'rn Land and depreciable property that is reasonably expected to be a part of the Project has b�en paid or incurred by the Owner by December 31, 2010. All Requisitions must b� submitted ta the Authority at least ten (lq) Business Days prior to the Expiration Date. (g) The Authority will nat make any disbursements to the Owner for costs that: (i) are pmhibited und�r the Program Requirements; (ii) are not strictly in accnrdance with the terms of this Agreement; (iii) axe requested after the Expiration Date, unless such date is extended under Section 4.1(fl hereof; (iv) were requested and/or incurred aft�r t�rrninatian o:f this Agreement; or (v) w�re request�d during the occurrence and continuatian of an unCured Event of Default. (h) The Authority is authorized to mak� modif cations to the disbursement procedures set forth herein and to establish additional requirements far disbursement of th� Subaward to the Owner as may be necessary or advisable far compliance with all the Prograrn Requirements. -9- 4848-2332-1094.2