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(h) Insurance; Payment and Performance Bonds. Developer shall have provided evidence satisfactory to City that Developer has obtained insurance coverage meeting the requirements set forth in Article XI,and shall have provided to City copies of payment bonds and performance bonds pursuant to Section 5.18. (i) Financing Plan. City shall have approved the Financing Plan, including without limitation,the construction and operating budgets for the Project. (j) Evidence of Availability of Funds. Prior to the Closing Date, Developer shall submit to the City copies of all loan documents for the financing sources identified in the approved Financing Plan,together with evidence reasonably satisfactory to City that(i) all conditions to the release and expenditure of the initial draw of funds from each source described in the approved Financing Plan as a source of construction financing for the Project have been met and that such funds will be available, and (ii)all construction financing(including draws subsequent to the initial draw of funds)will be available upon the satisfaction of the conditions set forth in the construction loan documents. Developer shall have provided to City copies of documents related to development and financing of the Project as City may reasonably request, including without limitation the Partnership Agreement. Developer's construction financing for the Project shall have closed or shall close concurrently with the Closing for the City Loan. (k) Permits and Approvals; Cooperation. Developer shall have obtained all entitlements, permits, licenses and approvals required for the construction and operation of the Project, including without limitation, building permits and use permits or shall provide evidence satisfactory to City that receipt of such permits and approvals is subject only to such conditions as City may reasonably approve. (1) Payment of Fees. Developer shall have paid when due all customary and reasonable fees and charges in connection with the processing of all applicable City permits and approvals. (m) Construction Plans,Budget and Schedule. City shall have approved the construction budget and schedule for the Project, the Construction Plans and specifications for the Project, and the construction contract. Developer shall have delivered an executed copy of the approved construction contract to City. (n) Intentionally omitted. (o) Requisition. Developer shall have submitted to City a written requisition for disbursement of funds specifying the amount and use of the requested funds, accompanied by copies of third-party invoices, evidence of Developer's payment for services rendered in connection with the work(if applicable), and such other documentation as City may reasonably require. 4.7 Developer's Conditions to Closing. Developer's obligation to proceed with the Closing is subject to the satisfaction or Developer's waiver of the following conditions: (a) No Default. City shall not be in default under the terms of this OAK#4822-6539-6013 v3 12