Lien Free Completion. Completion of construction of the Project free and clear of liens shall be deemed to have occurred and all obligations of Guarantor shall terminate upon the earliest to occur of : (a) (i) County's receipt of a written statement or certificate executed by the Certified Access Specialist certifying that the County-Assisted Units have been designed in compliance with Section 2.6 (c)(12) of the Loan Agreement; (ii) Developer receipt of all required occupancy permit(s) for the Project issued by the local government agency having jurisdiction and authority to issue same, and (iii) the expiration of the statutory period(s) within which valid mechanic's liens, materialmen's liens and/or stop notices may be recorded and/or served by reason of the construction of the Project, or, alternatively, County's receipt of valid, unconditional releases thereof from all persons entitled to record said liens or serve said stop notices; or (b) County's receipt of such other evidence of lien free completion as County deems satisfactory in its reasonable discretion; or (c)(i) issuance of a Certificate of Completion for the Project in accordance with Section 3.13 of the Loan Agreement, and (ii) the expiration of the statutory period(s) within which valid mechanic’s liens, materialmen’s liens and/or stop notices may be recorded and/or served by reason of the construction of the Project, or, alternatively, County’s receipt of valid, unconditional releases thereof from all persons entitled to record said liens or serve said stop notices.
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