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<br />TABLE OF CONTENTS <br /> <br />ARTICLE 1 DEFINITIONS AND EXHIBITS 1 <br /> <br />Section 1.1 <br />Section 1.2 <br /> <br />Definitions 1 <br />Exhibits 4 <br /> <br />ARTICLE 2 LOAN PROVISIONS 4 <br /> <br />Section 2.1 <br />Section 2.2 <br />Section 2.3 <br />Section 2.4 <br />Section 2.5 <br />Section 2.6 <br />Section 2.7 <br />Section 2.8 <br />Section 2.9 <br /> <br />Loan. 4 <br />Interest. 4 <br />Repayment of the Loan. 4 <br />Prepayment Of Loan. 7 <br />Use of Loan Funds. 7 <br />Security. 7 <br />Predeve10pment Loan Cancellation. 8 <br />Conditions Precedent to Disbursement. <br />Non-Recourse. 8 <br /> <br />8 <br /> <br />ARTICLE 3 CONSTRUCTION OF THE PROJECT 8 <br /> <br />Section 3.1 <br />Secti on 3.2 <br />Section 3.3 <br />Section 3.4 <br />Section 3.5 <br />Section 3.6 <br /> <br />Permits and Approvals. 9 <br />Construction Contract. 9 <br />Construction Bonds. 9 <br />Commencement and Completion of Construction. 9 <br />Construction Pursuant to Plans and Laws. 9 <br />Mechanics Liens, Stop Notices, and Notices of Completion. <br />10 <br /> <br />ARTICLE 4 LOAN REQUIREMENTS 10 <br /> <br />Section 4.1 <br />Section 4.2 <br />Secti on 4.3 <br />Section 4.4 <br />Section 4.5 <br />Secti on 4.6 <br />Section 4.7 <br />Section 4.8 <br /> <br />Inspection of Books and Records. 10 <br />Yearly Reporting Requirements. 10 <br />Maintenance and Damage. ] 0 <br />Notice of Litigation. 10 <br />Operation of Project as an Assisted Living Facility. 11 <br />City Preference System 1 ] <br />Transfer. 11 <br />Insurance Requirements. 12 <br /> <br />ARTICLE 5 DEFAULT AND REMEDIES 12 <br /> <br />Section 5.1 <br />Section 5.2 <br />Section 5.3 <br />Section 5.4 <br /> <br />144\105\217525.14 <br /> <br />Events of Default. 12 <br />Remedies. 14 <br />Right of Contest. 14 <br />Remedies Cumulative. <br /> <br />15 <br /> <br />Page <br />