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DOCUMENT TITLE:  CONSTRUCTION LOAN AND SECURITY AGREEMENT .
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Clause Heading
1.01 - DEFINITIONS
1.02 - RULES OF INTERPRETATION.
2.01 - AGREEMENT TO MAKE ADVANCES.
2.02 - PROJECT BUDGET.
2.03 - AMOUNT OF ADVANCES.
2.04 - QUALITY OF WORK.
2.05 - COST OVERRUNS AND SAVINGS.
2.06 - CONTINGENCY RESERVE
2.07 - OVER ADVANCES
2.08 - MANDATORY BORROWING
2.09 - FUNDS DEPOSITED WITH LENDER
3.04 - ADVANCES TO CONTRACTOR
3.05 - ADVANCES TO TITLE INSURANCE COMPANY OR TO OTHERS
3.01 - DRAW REQUEST
3.02 - NOTICE AND FREQUENCY OF ADVANCES
3.03 - DEPOSIT OF FUNDS ADVANCED
3.06 - ADVANCES DO NOT CONSTITUTE A WAIVER
4.01 - THE CONSTRUCTION NOTE
4.03 - SWAP AGREEMENT
4.04 - THE RECORD
4.05 - INTEREST ON ADVANCES
4.06 - CALCULATION AND PAYMENT OF INTEREST
4.07 - PRINCIPAL PAYMENTS
4.08 - MATURITY
4.09 - FUNDING LOSS INDEMNIFICATION
4.10 - PREPAYMENT PREMIUM
6.01 - LOAN FEE
6.02 - FUNDS FOR PAYMENT
6.03 - COMPUTATIONS
6.04 - ILLEGALITY
6.05 - DISASTER
6.06 - ADDITIONAL PAYMENTS
7.01 - MORTGAGE LIEN
7.02 - CONTROL
7.03 - CROSS DEFAULT
8.00 - CERTAIN RIGHTS OF LENDER
8.01 - RIGHT TO RETAIN THE CONSTRUCTION INSPECTOR
9.03 - FINANCIAL STATEMENTS
8.02 - APPRAISAL
8.03 - CHARGES AGAINST CONSTRUCTION LOAN CHECKING ACCOUNT
9.00 - REPRESENTATIONS AND WARRANTIES
(a) - Organization; Good Standing.
(b) - Authorization.
(c) - Enforceability.
9.02 - TITLE TO PROJECT AND OTHER PROPERTIES
9.04 - NO MATERIAL CHANGES, ETC.
9.05 - INTELLECTUAL PROPERTY
9.06 - LITIGATION
9.07 - NO MATERIALLY ADVERSE CONTRACTS, ETC.
9.08 - COMPLIANCE WITH OTHER INSTRUMENTS
9.09 - TAX STATUS
9.10 - NO EVENT OF DEFAULT
9.11 - INVESTMENT COMPANY ACT
9.12 - ABSENCE OF FINANCING STATEMENTS, ETC.
9.13 - SETOFF, ETC.
9.14 - CERTAIN TRANSACTIONS
9.15 - EMPLOYEE BENEFIT PLANS MULTI-EMPLOYER PLANS GUARANTEED
9.16 - ENVIRONMENTAL COMPLIANCE
9.17 - MEMBERS AND MANAGERS
9.18 - AVAILABILITY OF UTILITIES
9.19 - ACCESS
9.20 - CONDITION OF PROJECT
9.21 - COMPLIANCE WITH REQUIREMENTS
9.22 - PROJECT APPROVALS
9.23 - CONSTRUCTION CONTRACT
9.24 - ARCHITECTS CONTRACT
9.25 - OTHER CONTRACTS
9.26 - REAL PROPERTY TAXES; SPECIAL ASSESSMENTS
9.27 - VIOLATIONS
9.28 - PLANS AND SPECIFICATIONS
9.29 - PROJECT BUDGET
9.30 - FEASIBILITY
9.31 - EFFECT ON DRAW REQUEST
9.32 - PRINCIPAL DEPOSITORY
9.33 - FINANCIAL STATEMENTS
9.34 - LABOR DISPUTES AND ACTS OF GOD
9.35 - OTHER AGREEMENTS
9.36 - LITIGATION
9.37 - NO JUDGMENTS
9.38 - ERISA
9.39 - DEBT
9.40 - EXECUTIVE AGREEMENTS
9.41 - FOREIGN ASSET CONTROL REGULATIONS
10.00 - AFFIRMATIVE COVENANTS OF THE BORROWER
10.01 - PUNCTUAL PAYMENT
10.02 - COMMENCEMENT, PURSUIT AND COMPLETION OF CONSTRUCTION
10.03 - CORRECTION OF DEFECTS
10.04 - MAINTENANCE OF OFFICE
10.05 - RECORDS AND ACCOUNTS
10.06 - FINANCIAL STATEMENTS, CERTIFICATES AND INFORMATION
(a) - Defaults.
(b) - Environmental Events.
(c) - Notification of Claims against Collateral.
(d) - Notice of Nonpayment.
(e) - Notice of Litigation and Judgments.
(f) - Notice of Occupancy by Tenants.
10.08 - EXISTENCE
10.09.1 - CONTRACTOR AND ARCHITECT INSURANCE
10.09.2 - INSURANCE.
10.10 - TAXES
10.11 - INSPECTION OF PROJECT, OTHER PROPERTIES AND BOOKS
10.12 - COMPLIANCE WITH LAWS, CONTRACTS, LICENSES AND PERMITS
10.13 - PROJECT APPROVALS
10.14 - USE OF PROCEEDS
10.15 - PROJECT COSTS
10.16 - INSUFFICIENCIES OF CONSTRUCTION LOAN PROCEEDS
(a) - Regarding Construction.
10.17 - LEASES
10.18 - LABORERS, SUBCONTRACTORS AND MATERIALMEN
10.19 - DEPOSIT OF INCOME
10.20 - PUBLICITY
10.21 - SIGN REGARDING CONSTRUCTION FINANCING
(b) - Regarding Preservation of Collateral.
(c) - Regarding title.
(d) - Regarding this Agreement.
10.23 - NO MERGER OR ACQUISITION
10.24 - NO SUBSTITUTION
10.25 - PROTECTION OF COLLATERAL
10.26 - COMPLIANCE WITH ERISA
10.27 - FINANCING STATEMENTS
10.28 - TAXES AND IMPOSITIONS
10.29 - MAINTENANCE OF RECORDS
10.30 - MAINTENANCE OF PROPERTIES
10.31 - COMPLIANCE WITH LAWS
10.32 - ENVIRONMENT
10.33 - PAYMENT OF LOANS
10.35 - MORTGAGE TAXES
10.36 - LENDERS EXPENSES
10.37 - OPERATING BUDGET.
11.00 - NEGATIVE COVENANTS OF THE BORROWER
11.01 - RESTRICTION ON CHANGE ORDERS
11.02 - RESTRICTIONS ON EASEMENTS, COVENANTS AND RESTRICTIONS
11.03 - NO AMENDMENTS, TERMINATIONS OR WAIVERS
11.04 - RESTRICTIONS ON INDEBTEDNESS
11.07 - MERGER, CONSOLIDATION AND DISPOSITION OF ASSETS
11.05 - RESTRICTIONS ON LIENS, ETC.
11.06 - RESTRICTIONS ON INVESTMENTS
11.08 - SALE AND LEASEBACK
11.09 - COMPLIANCE WITH ENVIRONMENTAL LAWS
11.10 - DISTRIBUTIONS
11.11 - NO GUARANTEES
11.12 - CORPORATE LOANS
11.13 - ADVERSE TRANSACTIONS
11.14 - PREPAYMENT
11.15 - AFFILIATE TRANSACTIONS
12.00 - CONDITIONS TO INITIAL ADVANCE
12.01 - LOAN DOCUMENTS
12.02 - CONSTRUCTION DOCUMENTS
12.03 - SUBCONTRACTS
12.04 - OTHER CONTRACTS
12.05 - EQUITY INFUSION
12.06 - CERTIFIED COPIES OF ORGANIZATION DOCUMENTS
12.07 - RESOLUTIONS
12.08 - INCUMBENCIES CERTIFICATE; AUTHORIZED SIGNERS
12.09 - VALIDITY OF LIENS
12.10 - DELIVERY OF DOCUMENTS
(a) - Plans and Specifications.
(b) - Title Policy.
(c) - Other Insurance.
(d) - Evidence of Sufficiency of Funds.
(e) - Evidence of Access, Availability of Utilities, Project Approvals.
(f) - Environmental Report.
(g) - Soils Report.
(h) - Surveys and Taxes.
(i) - Draw Request.
12.12 - CONSTRUCTION INSPECTOR REPORT
12.13 - LEGAL OPINIONS
12.14 - LIEN SEARCH
12.15 - NOTICES
12.16 - APPRAISAL
12.17 - PERFORMANCE; NO DEFAULT
12.18 - REPRESENTATIONS AND WARRANTIES
12.19 - PROCEEDINGS AND DOCUMENTS; COSTS
12.20 - LEASES/SUBORDINATION AGREEMENTS AND ESTOPPELS
12.21 - LICENSES, PERMITS AND APPROVALS
13.00 - CONDITIONS OF SUBSEQUENT ADVANCES
13.01 - PRIOR CONDITIONS SATISFIED
13.02 - PERFORMANCE; NO DEFAULT
13.03 - REPRESENTATIONS AND WARRANTIES
13.04 - NO DAMAGE
13.05 - RECEIPT OF LENDER
(a) - Draw Request.
(b) - Endorsement to Title Policy.
(c) - Current Survey.
(d) - Approval by Construction Inspector.
(e) - Approval by Lender.
(f) - Contracts.
(g) - Change Orders.
14.00 - SECURITY INTEREST
15.01 - EVENTS OF DEFAULT
15.02 - TERMINATION OF COMMITMENT AND ACCELERATION
15.03 - COMPLETION OF PROJECT
15.04 - OTHER REMEDIES
15.05 - RIGHTS AS TO COLLATERAL
15.06 - DISTRIBUTION OF COLLATERAL PROCEEDS
15.07 - POWER OF ATTORNEY
15.08 - WAIVERS
16.00 - FINANCING STATEMENTS
17.01 - COVENANTS AS TO BORROWER
18.00 - TENURE
19.00 - SETOFF
20.00 - EXPENSES
21.00 - INDEMNIFICATION
22.00 - LIABILITY OF THE LENDER
23.00 - RIGHTS OF THIRD PARTIES
24.00 - SURVIVAL OF COVENANTS, ETC.
25.01 - PARTICIPATIONS
25.02 - PLEDGE BY THE LENDER
25.03 - NO ASSIGNMENT BY THE BORROWER
26.00 - RELATIONSHIP
27.00 - NOTICES
28.00 - GOVERNING LAW
35.00 - SEVERABILITY
29.00 - CONSENT TO JURISDICTION
30.00 - HEADINGS
31.00 - COUNTERPARTS
32.00 - ENTIRE AGREEMENT, ETC.
33.00 - CONSENTS, AMENDMENTS, WAIVERS, ETC.
34.00 - TIME OF THE ESSENCE