RIDGE VIEW COMMONS - CONSTRUCTION LOAN

Article VIII Additional Provisions Article VIII, Additional Provisions to Building Loan Agreement between Eden Housing, Inc., a California nonprofit corporation, as "Borrower ", and City of Pleasanton, as "Lender ". 8.01 Additional Conditions Precedent. In those conditions precedent set forth in Section shall not be obligated to make any disbursements other action under the Loan Documents unless following conditions precedent are satisfied at such action: addition to 2.01, Lender or take any all of the the time of (a) Delivery to Lender of originals or copies of valid building and grading permits issued by the City of Pleasanton granting Borrower authority to construct all the Improvements subject only to final plan check and issuance of ancillary permits, including electrical, plumbing, mechanical and encroachment permits; and (b) Delivery to Lender of originals or copies of the fully executed Construction Agreement (as defined in Section 8.05) and the fully executed Architect's Agreement (as defined in Section 8.06). 8.02 Disbursement Authorization. Disbursements hereunder may be made by Lender to the Account upon the written request of any one of the following persons: Catherine A. Merschel or Tim L. Truesdale, who are authorized to request disbursements until written notice of Borrower's revocation of such authority is received by Lender at its office address shown herein. 8.03 Commencement and Completion. Pursuant to Section 3.01, unless Lender consents in writing to a earlier commencement date, Borrower shall commence construction of the Improvements without delay after recordation of the Deed of Trust and shall complete construction of the Improvements on or before that date which is fifteen (15) months from the Effective Date. 8.04 Force Majeure. The time within which construction of the Improvements must be completed shall be extended for a period equal to the period of any delay directly affecting the construction work which is caused by fire, earthquake or other acts of God, strike, lockout, acts of public enemy, riot, insur- rection, or governmental regulation of the sale of transportation of materials, supplies or labor provided Borrower furnishes Lender with written notice of any such delay within 10 days from the occurrence of any such delay. In no event, however, shall the time for completion of the Improvements be extended beyond one year from the Effective Date. 8.05 Construction Agreement. On or before the Effective Date, Borrower and Bogard Construction, Inc. ( "Contractor ") shall have entered into a construction agreement ( "Construction Agreement "), in the form previously delivered to and approved by Lender, pursuant to which Contractor is to construct the Improvements. Borrower shall require Contractor to perform in accordance with the terms of the Construction Agreement and shall not amend, modify or alter the responsibilities of Contractor under the Construction Agreement without Lender's prior written consent. Upon Lender's request, Borrower shall execute an assignment of the Construction Agreement to Lender as security for Borrower's obligations under the Loan Documents and shall cause the Contractor to consent to any such assignment. 8.06 Architect's Agreement. Date, Borrower and Hardison, ( "Architect ") shall have entered ( "Architect's Agreement "), in the 1 On or before the Effective Komatsu, Ivelich & Tucker into an architect's agreement form previously delivered to