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the Property, certified as accurate and complete by an authorized officer of Developer's general partner's sole member. (iv) No material adverse change as determined by Agency in its reasonable judgment shall have occurred in the condition of the Property or in the financial or other condition of Developer since the date of this Agreement. (v) Agency's receipt of a written requisition from Developer specifying the amount and use of the requested funds, accompanied by copies of third-party invoices for services rendered in connection with the Project (accompanied by or to be followed by evidence of payment of such invoices, as applicable), and such other documentation as Agency shall reasonably require, including without limitation, executed consents to the extent required by the Assignment Agreement. (vi) Prior to disbursement of the last One Million Dollars ($1,000,000) of Predevelopment Funds, Agency must receive evidence satisfactory to Agency that all conditions set forth in Section 4. L 1 have been satisfied. 4.5.2 Conditions to Disbursement of Construction/Permanent Loan Proceeds. Agency's obligation to fund the Loan and disburse the Loan Proceeds is conditioned upon the satisfaction of all of the following conditions: (i) Developer's execution and delivery to Agency of the Note, the Deed of Trust, the Memorandum, and the Regulatory Agreement. (ii) Recordation of the Memorandum, the Deed of Trust and the Regulatory Agreement in the Official Records. (iii) The Agency's approval of the Ground Lease and the recordation of a Memorandum of Lease in the Official Records. (iv) The issuance by an insurer satisfactory to Agency of an A.L.T.A. lender's policy of title insurance ("Title Policy") for the benefit of Agency in the amount of the Loan, insuring that the lien of the Deed of Trust and the Regulatory Agreement are subject only to the Ground Lease, deeds of trust, regulatory agreements and related documents provided for the benefit of Project lenders approved pursuant to the Financing Plan, and such other defects, liens, conditions, encumbrances, restrictions, easements and exceptions as Agency may approve in writing (collectively, the "Permitted Exceptions") and containing such endorsements as Agency may reasonably require, with the cost of such Title Policy to be paid by Developer. (v) Developer's delivery to the Agency of evidence of property and liability insurance coverage in accordance with the requirements set forth herein. (vi) Developer's delivery to Agency of evidence reasonably satisfactory to Agency that there are no mechanics' liens or stop notices related to the Property or the Project, and Developer's provision to Agency of full waivers or releases of lien clams if required by Agency. > > ~a9a6-s 18