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201007863
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Last modified
10/25/2010 3:46:43 PM
Creation date
10/25/2010 3:46:41 PM
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DEEDS
Inst Number
201007863
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�0�007863 <br />Section 4.2. Disbursements of SecNon 16Q2 Pro rg am Fu„nds to Qwner <br />Not later than thxce (3) Busin�ss Days af receipt of the Section 1602 Pragram Funds by <br />the Authority From Tr�asury, the Authority shall disburse such funds to the Owner. <br />Sectioa 4.3. Canstruction/Draw Schcdule: Chan�e,Ordcrs <br />(a) The Owner expects to submit Requisitions to the Authority far disbtusements of <br />the Subaward at the timcs and in the amounts set forth in th,e Construction/Draw Schedul� <br />attached hereto as Exhibit F. The �wner shall update the Construction/Draw Schedule as and <br />when Requisitions for disbursements of the Subawazd are made. <br />(b) Thc Owner's anticipated canstru.ction schedule is set forth on the <br />CQnstruction/Draw Schedule attached hereto as Exhibit F . <br />(c) The Owner shall provide the Authority with copies aF any change orders <br />submitted ta the Lend�r and/or the T�c Credit Investar and nptice if such change arder would <br />p�revent the Prnject from meeting the Placed In-Service Date ar prevent the Subaward fron� iaeing <br />fully disbursed to the Owner by the Expiratian Date. <br />Section 4.4. Construct�on Meetings;,, MD111t01'1I18 <br />The Autharity shall have the right to attend the construction progress mcetings and <br />manitor the Project's construct�an until satisfactian af the Construc�ian Completion Date. <br />ARTICLE V <br />COVENANTS AND RESTRICTY�N <br />Sectior� 5.1. LURA <br />The Owner wi11 entcr into the LURA with the Authority, record the LURA in the office <br />of the deed of registry for the county in which the Praject is located and comply with the terms <br />thereof throughout the term of the LURA. The LURA will bc in effect as of the end af each <br />ta�Gable yeaz in which the buildirags in the Project are placed in service. The tenns of the L <br />aze by this reference incorparated into this Agr�ement with the same force and effect as if written <br />out word for ward at this point. <br />Section 5.2. Compl�ance with, Pr ram Repuirem�nts <br />(a) The Owner wil] comply with all oF the Program Requirements applicable to the <br />Project thraughout the Compliance Period. <br />(b) The Owner will comply with all af the requirements of 5ection 42 of the Code <br />and the LUR.A thraughout the term of the LURA. <br />(c) The Owner will maintain the Required Percentage throughout th� Compliance <br />Pcriod. <br />-10- <br />4848-2332-1094.2 <br />
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