Prerequisites for Disbursement of Funds

Before disbursing funds, including the final disbursement, to the Borrower BorrowerPerson who is the obligor per the Note. for each disbursement request, the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must be satisfied that:

• all repair and restoration work has been completed in a good and workmanlike manner and in accordance with any applicable plans and specifications, as evidenced by submissions from the Borrower BorrowerPerson who is the obligor per the Note. and, if applicable, by the Servicer’s Servicer’sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. or a qualified professional’s inspection of the completed work;
• all related invoices for items and services have been paid, unless the Borrower BorrowerPerson who is the obligor per the Note. has satisfied any applicable pre-conditions of the Amendment to Multifamily Loan and Security Agreement (Restoration Reserve) ( Form 6615 ) or Insurance Loss Proceeds Collateral Agreement ( Form 6639 ) for issuance of a joint check made payable to the Borrower BorrowerPerson who is the obligor per the Note. and the Person PersonLegal person, including an individual, estate, trust, corporation, partnership, limited liability company, financial institution, joint venture, association, or other organization or entity (whether governmental or private). owed funds;
• the necessary release of Lien LienLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. or Lien LienLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. waivers have been submitted by all contractors, and no mechanics’ Liens LiensLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. , materialmen’s Liens LiensLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. , or other Liens LiensLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. are outstanding that have not been acceptably bonded over; and
• the Borrower BorrowerPerson who is the obligor per the Note. is not in default under any Loan Document Loan DocumentAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. , including the Amendment to Multifamily Loan and Security Agreement (Restoration Reserve) ( Form 6615 ) or Insurance Loss Proceeds Collateral Agreement ( Form 6639 ).