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b. Such documents, executed by such persons as Agency requires, which may include, without
<br />limitation, loan agreements, notes, deeds of trust, security agreements, UCC financing statements,
<br />guaranties, general and/or specific assignments of leases and rents, borrowing authorizations, and
<br />subordination, attornment and estoppel agreements.
<br /> c. A commitment to issue a 2006 ALTA mortgagee's extended coverage title insurance policy,
<br />including all endorsements required by Agency, in the full amount of the Loan, and issued by a
<br />company acceptable to Agency, inuring Agency's first lien priority upon recording Agency's
<br />security instruments, and showing only such encumbrances, easements, covenants, conditions,
<br />restrictions, or exceptions which are acceptable to Agency.
<br />d. Beam provides and the Agency approves any environmental studies or reports regarding
<br />Beam’s Portland property which will be subject to a deed of trust securing the Loans.
<br /> e. The Agency receives evidence verifying that the following insurance is in effect: (a) fire
<br />insurance with extended coverage and course of construction endorsements on the basis of
<br />100 percent of full replacement cost of all improvements on the Property with a mortgagee clause
<br />attached in favor of the Agency, (b) public liability insurance in amount of $2,000,000,
<br />(c) worker's compensation insurance in amounts satisfactory to the Agency, and (d) any flood
<br />insurance for the Property required by the Agency, together with any additional insurance
<br />coverage required by the deed of trust or any other document securing the Loans.
<br /> f. The Agency receives evidence reasonably satisfactory to it that its security interest in the items
<br />of personal property collateral relating to the property has been perfected and that the priority of
<br />such security interest is senior to all other liens, security interests, and claims, except permitted
<br />encumbrances.
<br />g. If required by Agency or title insurer, two copies of an acceptable survey prepared and certified
<br />by a registered land surveyor, which locates existing improvements, easements and
<br />encroachments.
<br /> h. Beam provides such financial statements, credit reports, tax returns, and other financial
<br />information regarding Beam and the property as Agency requires.
<br /> i. The opinion of counsel reasonably satisfactory to Agency covering such matters as Agency
<br />requires, including without limitation an opinion addressing Beam’s due organization and valid
<br />existence, authority, enforceability, no required consents, no litigation, no conflict with
<br />agreements, etc., and such other matters as Agency may reasonably require.
<br /> j. The Property shall be in its current condition, and no part of the property shall have been
<br />damaged by fire or other casualty or be the subject of any eminent domain or condemnation
<br />proceedings.
<br />k. Beam shall have paid to the Agency the ratable portion of all fees and charges charged the
<br />[and all escrow and title charges
<br />Agency in connection with the HUD Section 108 Loan
<br />associated with the Loans, including title insurance premiums]
<br />.
<br /> l. All representations and warranties included in the loan documents shall be true and correct as of
<br />the date of the closing of the Loans.
<br /> m. Beam shall satisfy such requirements, provide such information and execute such documents
<br />as Agency reasonably requires.
<br />Representations and Warranties:
<br /> Standard for commercial real estate loans.
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