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Attachment B <br />6. BORROWING AUTHORITY: Borrower must praVide us with LLC Documents <br />inciuding a Certificate of Good Standing, copy of Articles of Organization, Operating <br />Agreement and Control Agreement. The Promissory Note ("Note") and other <br />documents shall be executed by the individuals so authorized. <br />7. GUARANTY: The loan, as well as the performance and provisions of the mortgage <br />and other loan documents, wi11 be corporately guaranteed by Greater Metropolitan <br />Nousing Corporation. <br />8, DOCUMENTATION: Borrower agrees to execute all documents as the <br />Bank/Bank's legal counsel may reasonably require. The documents may include <br />but are not limited to: Promissory Note, a combination mortgage securify <br />agreement or a mortgage and fixture financing statement (Mortgage), the <br />Guarantee(s), borrowing resolution, and Loan Agreement. Borrower shafl a(so <br />execute and deliver all documents required by the title insurance company in order <br />to close the loan. <br />9. LOAN AGREEMENT: Borrower will execute a Loan Agreement at closing <br />specifying release prices of units and pay-down schedule on revolving line of credit. <br />10. DEPOSIT AGCOUNT: Borrower shall establish and maintain an operating accaunt <br />with the bank during the construction period untii the note is fully retired. <br />11. ENVIRONMENTAL HAZARDS: Provide evidence satisfactory to Western Bank that <br />there are no environmental hazards. Borrower further agrees to indemnify Western <br />Bank fram any loss whatsoever arising by reason of the presence of hazardous <br />waste or toxic substances in or on the properly. This inderrinity and hold harmless <br />shall survive the payment of the note. <br />12. COSTS: Whether or not the loan is originated in accordance with this commitment, <br />the Borrower shall pay, upon request of the Bank, all of the legal, title, <br />environmental assessment, sucvey and any other out of pocket charges incurred by <br />the Bank in connection with the drafting of this cammitment and/or the Loan <br />Documents and any other documents referred to in this commitment. Additional <br />costs incurred for the cfosing of this loan include but are not limited to: Mortgage <br />Registration Tax, and recording fees. <br />1�. DELIVERY AND ACCEPTANCE OF COMMITMENT: This commitment must be <br />signed and returned to the Bank. <br />In the event that there is any material adverse change in your financial condition ar <br />obligations prior to the closing, the bank may, at its sole and complete discretion, terminate <br />this commitment. <br />