Common use of Final Advance Clause in Contracts

Final Advance. As a condition precedent to the final Advance, in addition to all other requirements herein, completion of all Improvements shall have occurred and Borrower must satisfy the following requirements and, if required by Lender, deliver to Lender evidence of such satisfaction: (a) A completion certificate from the Inspecting Architects/Engineers; (b) Evidence that all Governmental Requirements have been satisfied, including but not limited to, delivery to Lender of a certificate of occupancy (or its equivalent) if issued by local Governmental Authorities, permitting the Improvements to be legally occupied; (c) Evidence that no mechanic's or materialman's lien or other encumbrance has been filed and remains in effect against the Property; (d) Final lien releases or waivers by the Architect, Contractor, and all subcontractors, materialmen, and other independent third parties who have supplied labor, materials, or services for the construction of the Improvements, or who otherwise might be entitled to claim a contractual, statutory, or constitutional lien against the Property, subject to retainage; (e) Evidence in a form reasonably satisfactory to the Lender that all Improvements are in compliance with the accessibility requirements of the federal Fair Housing Act and the Florida and federal Americans with Disabilities Act. (f) a survey of the Amenity Building showing no encroachment off the Resort Property or on any easement; and (g) The Title Insurance shall be endorsed and extended to the date of the final Advance with no additional exception objectionable to Lender.

Final Advance. As a condition precedent to the final Advance, in addition to all other requirements herein, completion of all Improvements shall have occurred and Borrower must satisfy the following requirements and, if required by Lender, deliver to Lender evidence of such satisfaction: (a) A completion certificate from the Inspecting Architects/Engineers; (b) Evidence that all Governmental Requirements have been satisfied, including but not limited to, delivery to Lender of a certificate of occupancy (or its equivalent) if issued by local Governmental Authorities, permitting the Improvements to be legally occupied; (c) Evidence that no mechanic's or materialman's lien or other encumbrance has been filed and remains in effect against the Property; (d) Final lien releases or waivers by the Architect, Contractor, and all subcontractors, materialmen, and other independent third parties who have supplied labor, materials, or services for the construction of the Improvements, or who otherwise might be entitled to claim a contractual, statutory, or constitutional lien against the Property, subject to retainage; (e) Evidence in a form reasonably satisfactory to the Lender that all Improvements are in compliance with the accessibility requirements of the federal Fair Housing Act and Act, the Florida and federal Americans with Disabilities Act, and applicable provisions of Colorado law. (f) a survey of the Amenity Building showing no encroachment off the Resort Property or on any easement; and (g) The Title Insurance shall be endorsed and extended to the date of the final Advance with no additional exception objectionable to Lender.