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(i) Developer's execution and delivery to Agency of the Note, the Deed of <br />Trust, the Memorandum, and the Regulatory Agreement. <br />(ii) Recordation of the Memorandum, the Deed of Trust and the Regulatory <br />Agreement in the Official Records. <br />(iii) The Agency's approval of the Ground Lease and the recordation of a <br />Memorandum of Lease in the Official Records. <br />(iv) The issuance by an insurer satisfactory to Agency of an A.L.T.A. lender's <br />policy of title insurance ("Title Policy") for the benefit of Agency in the amount of the Loan, <br />insuring that the lien of the Deed of Trust and the Regulatory Agreement are subject only to the <br />Ground Lease, deeds of trust, regulatory agreements and related documents provided for the <br />benefit of Project lenders approved pursuant to the Financing Plan, the Inclusionary Housing <br />Agreement, and such other defects, liens, conditions, encumbrances, restrictions, easements and <br />exceptions as Agency may approve in writing (collectively, the "Permitted Exceptions") and <br />containing such endorsements as Agency may reasonably require, with the cost of such Title <br />Policy to be paid by Developer. <br />(v) Developer's delivery to the Agency of evidence of property and liability <br />insurance coverage in accordance with the requirements set forth herein. <br />(vi) Developer's delivery to Agency of evidence reasonably satisfactory to <br />Agency that there are no mechanics' liens or stop notices related to the Property or the Project, <br />and Developer's provision to Agency of full waivers or releases of lien clams if required by <br />Agency. <br />(vii) Developer's delivery to Agency of certified copies of updated versions of <br />any documents listed in Section 4.5.1 (iii) which have been amended since the date of delivery to <br />the Agency. <br />(viii) No material adverse change as determined by Agency in its reasonable <br />judgment shall have occurred in the condition of the Property or in the financial or other <br />condition of Developer since the date of this Agreement. <br />(ix) Reserved. <br />(xi) (a) Developer's delivery to Agency of evidence reasonably satisfactory to <br />Agency that Developer has obtained all necessary entitlements, permits (including without <br />limitation building permits), licenses, and approvals required to develop the Project, or that the <br />receipt of such permits is subject only to such conditions as Agency shall reasonably approve; <br />(b) City shall have approved the final plans and specifications for the Project; (c) Developer's <br />construction financing for the Project shall have closed or shall close concurrently with Agency's <br />disbursement of funds for construction, and Developer shall have delivered to Agency evidence <br />reasonably satisfactory to Agency that Developer has secured binding commitments, subject only <br />to commercially reasonable conditions, for all Project construction and permanent financing, (d) <br />Developer's delivery to Agency and Agency approval of all of the following: (l) any <br />modifications to the Project construction and operating budgets previously approved by Agency; <br />> »s9s~-s ] 9 <br />