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HomeMy WebLinkAbout1103 1 1 i / ~ ~ certificate shall be subject to the review and approval of Mortgagee's architect or engineer, stating that (1) all of the work has been completed in a good and workmanlike manner and substantially in compliance with the approved plans and specifications, if any be required under said Paragraph (b) of this Paragraph 28, and in accordance with all pravisions of law; (2) the sum requested is justly required to reimburse Mortgagor for payments by Mortgagor to, or is justly due to, the contractor, sub-contractors, materialmen, laborers, engineers, architects or other persons rendering services or materials in connection with the Work (giving a brief description of such services and i ~ materials), and that when added to all sums, if any, previously ~ f ; paid out by Mortgagee, does not exceed the value of the Work done [ € to the date of such cert i f icate ; and ( 3) the amount of proceeds i ~ ! remaining in the hands of Mortgagee, together with other funds ~ otherwise available to Mortgagor, will be sufficient on completion ~ ~ of the work to pay for the same in full (giving in such reasonable ~ detail as Mortgagee may require an estimate of the cost of such ~ ~ completion and if such other funds are required, including a certificate of an officer or partner of Mortgagor as to the sources ~ E ~ of such funds). ~ (C) Each request shall be accompanied by waivers or releases af liens, satisfactory to Mortgagee, covering that part of the work previously paid for, if any, and by a search prepared by a title company or by other evidence satisfactory to Mortgagee, that there has not been filed with respect to the Real Estate or ~ 38 i aoo~67~ PacE1103 `k s. _ . . ..v_ _ 3 ~rA~,~sa'~ _ M1v+ _Lro~Fr°'4PY ~ .