Construction Progress Draw Procedures Sample Clauses

Construction Progress Draw Procedures. The CRA agrees to disburse the Grant to the Grantee on a construction draw basis for expenses necessarily and properly incurred under this Agreement based solely on the NoMi Lofts Expenses Spreadsheet attached hereto as Exhibit “F” and by this reference made a part hereof all as approved by the CRA. The Grantee shall be required to close on any loans providing funding for the Project as a condition precedent to the disbursement of any portion of the Grant. Payments shall be made to the Grantee or, upon the prior written request of the Grantee, by joint check to the Grantee and general contractor. Payment shall be made in accordance with the following procedures: