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1M ~wi~~„ ~~iry tA~ ~rvf ~on~ocia fa tl~ ~Mwa~ ~/a~ ~le f~M oi tlw i~ew~b ~n~a~ i~ ~
+M ir~~i~ C~wwr~~ Md/a O~wbp~~t toow Aorw~M pw~~i+wf1K a~ coM~/ "t+oae ~ty. M oon~id~+~-
ri~w ~f i~ L~~iw ~wkino ~ foo~ ~ww ~io~~f I~rb~r aorws w+d~ th~ 1~~ a~ foUows~
1. /1~ ~i~IM~. i~w ad cirs~ d ti» w~dwsiqe»d os ~n~ol oonkaclor on Mr~bp ~+bo~dinoNd b fh~ li~n. opMO~ion a+r
sA~p ~i ~ loos ond wapo~ oi tA~ ta~~.
2 At rM s~ of ~od~ dro.? NN w~d~tipn~d witl furni~h b tl~ Gi~bw~irp AqM~ p?oof oi poid con~trvc~ion ond/a dtwl-
op~ coN~ ~qiroi b~ bbt dnbws~t+ Prwia+sil? n~od~. in aetordont~ wilh tM provisions of th~ soid loae A~~+~N.
No1 w w~dwtok~ w puiors anr ~ictro work or tumah ~o ++wNriob w chonQ~ tFw const?uc~ioe or d~wlopn~N
wo.4 /~ow tl~ plau aad p~alGoo~ion~ vnlw th~ son+~ b oprNd ~o in wriei~p br ~M L~nd~t ond otM~:, os nquir~d in sad Loo~
~
1. To ooniple~t rM oons~nrc~ion ond/or dew{opn~ent of soid imp?own»nb in ouo~donce with 1M conshuction controet
~nNr~d i~b b~ewsen th~ wid~nipnsd ond tl+e dorrowe? named in tht fwpan9 loan I?9~e~ment, ond in comptionce with tM pro-
w.ions op~pCoobl~ a tt?s eoMroc+o. ie sad toa+ wq..en~eM. ,
S. To fi~r caa~rrct and co~plete the improrsmems on w b~fore th~ time speciPisd in Po~oqwph 2(h) of the Loon Apr~-
w~en~ in o fi.s~-closs, work~won~iice nwn~e~ occwdirq ro the corWrudion contract and the plans and sp~cificotioa: for the conhoct
oaow~, w.rA oN cioiwa fw lobw ond moter+ols poid in full, hee ond clea~ from mechanip' ond nwte~iolmen's liens, fwroshinq .
I.~n .o,rus, poid b;lls ond oll oA'ido~?its .equ~sted br Disbw~irq Apent or lender in etcordance with forms ond procedur~s
oppro.ed by the+n, and, vpon canpktia+, to fwnish tender with wrilten occeptvnce of the improvements by Morqepo~.
6~. To complr with all re9vlotions, ordinonces ond laws of all public ond privme outhorities hovinq jurisdictioo ovK 1M
p~oper~? ond witb dl ruks and ~epulatwns of o~r 9o~e~~~roi ~r inwriny the ioan: and to IocaM the improveen~r~b on th~
proow~r occo.d~n~ to N~e p{ot pbn: b complr wi~h aN building and set-bock linr ?equirements ond encrooth on no easem~nts, and
~o prwide sK.ers showis~q tiwt M+e iouad~?ions of oll improvancnts hove bcen p?operlr locoted, all piwr to being entided to onr
po~w~a~ hereM+~de~, '
7_ To fwiwsh lender w;th o detoiled cost breokdown iocludinq names of all subcontroctors aod materiol supplien, fhe
amo~w~ oF the'w cormocts, the onwunt of Cont~roctor's onticipoted pto6t ond oll other items fw which porments are to be nwds br
le~~ or Dia~u?sing AgMt or dwrOwe~ and to immediofely no/if~l lender and Disbursing Agent af onr chonge in soid toMrott
o~o1M~b O~ litiwf0lld COfh.
~ To euecute Lc~on p?oy?ess odwnce requisitions or vouchers avthori:in~ porments for bbor, nw~eriols and servites on
~o.n~s ad in occordwsce with procsduras app~oved br lende~ ond Disbwsirp Aqent. No parments for labor, nwte~iol w serrices
v.J1 b~ oMiio~i:ed in excess of estinated cost os ~ep?esented to tender, without pr'wr consent of lender. o~d until labor a~d/or
~no~erial hore been incorpwofed in construction. .
9_ To fwn~sl+ ~xance policies, w~th premium poid receipn, for the period of construction in favor of the donower, Gon-
traaor, and lender, os the+r innresh ~nap oppeor, protect~ng oyoi.ist pe~iis of workmen's compensatioo, public liabilitp, properry
s~ow~o~e, a+Q such od~er inw.once pol~cies regularly ond customarilr provided br generol controctors as mar be required by
tentkr.
10_ To rcquest porn~ent af no portion of his pro~t until oll costs of devebpment ond/or constniction of improvemenn have
been po:d in fuM ond lire iw~p~ore+nenfs hove been octepted br do??ower.
i 1. Tlw~ sbould he breoch onp protiision hereof ond fail or oeglect to a~oin prope?Ir begin to torred such breach withie
se.ew (n dops af~er receiwrq .vritten notice frwn Bwrower w lender of his deFoult, or should the work ceose fw ten (10) tonsecu-
~.e doys ior ~aoYSes ahe+ thon ~twse bepond his control. it shati be contluded thot he hos breoched and abondoned this Apree-
~wenw Oerawno~ion br le~de. that Comroctor hos either breaiched w abandoned derelopment ond/or construction sFwll be
bw~diy ow Con~nac~or ond 6wrower. In the event of wch breoch o? obondonment, Contracror sFwlt hore no claim to a~r swns
an deposit ..i~h te+ide. w Disbunin~ Aqent, and sholl have no mecFwniu' lien rphts or other claims against the property or aqainst
tn~ler iw o~ wo.k w lobw done or services pe~fwmed_
GENERAL CONTRACtOR:
DATE - - - ~y=--- 15EA1)
Authorized Companr Ollice?
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