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(c) The construction mortgage will encumber only the
property being developed with fhe proceeds of the
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construction loan and such easements for ingress and
egress necessary for development; and
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(d) The property being developed is the next
numerical stage contemplated to be developed under the
respective site plan approved by Bankers; and
(e) Bankers and all other governmental. or quasi-
governmental authorities and any agencies thereof having
jurisdiction over the project shall have approved site
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plans, and all permits, authorizations and. approvals
required for the construction shall have been secured or
the construction lender shall have been satisfied or
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waived same and be prepared to fund for construction; and
(f) Unless Bankers shall have in its sole discretion
approved in advance tt~e construction lender as being a
lender that has an established reputation in the
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construction lending field with proven ability to fund
.construction loans of the magnitude contemplated the
construction mortgage shall provide that the construction
lender give notice and sufficient opportunity to cure any
monetary default and a waiver of enforcement for non-
monetary defaults shall be granted Bankers during the
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