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e. Mechanics lien waivers or releases from both the Contractor and all <br />subcontractors with respect to amounts disbursed pursuant to the immediately preceding Request for <br />Payment satisfactory to Title. <br />£ Resolution satisfactory to Title of all outstanding title issues arising from the <br />Housing Improvements, including but not limited to, mechanic's liens or judgment liens served or <br />filed of record. (Such resolution may include funds to be held by Title in escrow in excess of the <br />claimed amount of the lien, or such other options as Title may determine.) <br />g. The City and Title have received a written statement from the Construction <br />Manager certifying with respect to each payment: (i) that none of the items for which the payment is <br />proposed to be made has formed the basis for any payment theretofore made under this Agreement; (ii) <br />that each item for which the payment is proposed to be made is or was necessary in connection with the <br />Housing Improvements; and (iii) that following such proposed payment sufficient moneys will remain <br />on deposit in the Project Fund to provide for payment in full of all remaining costs estimated to be <br />incurred in order to complete the Housing Improvements. In the case of any contract providing for the <br />retention of a portion of the contract price, there shall be paid from the Proj ect Fund only the net amount <br />remaining after deduction of any such portion. <br />h. Written confirmation from the City that no Event of Default under the <br />Development Agreement, or event which would constitute such an Event of Default but for the <br />requirement that notice be given or that a period of grace or time elapse, has occurred and is continuing. <br />SA. Conditions Precedent to the Final Disbursement. The making of the final disbursement <br />hereunder shall be subj ect to the condition precedent that the Association shall be in compliance with all <br />conditions set forth in Sections 4 and 5 hereof and the following: <br />(a) The Housing Improvements have been substantially completed in accordance with <br />Article IV of the Development Agreement, and the City shall have received a written statement from the <br />Association, certifying that to the best of its knowledge (i) work on the Housing Improvements has been <br />completed in accordance with the Article IV of the Development Agreement and all other labor, <br />services, materials and supplies used in such work have been paid for, (ii) the completed Housing <br />Improvements conform with all applicable building laws and regulations of the governmental authorities <br />having jurisdiction over the Housing Improvements; and (iii) lien waivers submitted to Title hereunder <br />cover all labor, services materials and supplies in connection with the Housing Improvements. <br />(b) The City shall have received satisfactory evidence that all work requiring inspection by <br />municipal or other governmental authorities having jurisdiction has been duly inspected and approved <br />by such authorities and by the bureau, corporation or office having jurisdiction, and that all requisite <br />certificates of occupancy and other approvals have been issued. <br />(c) Notwithstanding anything to the contrary in this Section, the City shall be entitled to <br />retain the five percent retainage specified under Section 6 below for up to 90 days after receipt of the <br />1 a�o6�ers <br />