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A permanent loan commitment (for funding of a permanent loan at a date in the future) usually contains many contingencies to protect the lender. All

A permanent loan commitment (for funding of a permanent loan at a date in the future) usually contains many contingencies to protect the lender. All of the following are common contingencies EXCEPT:

a.

Time constraint to complete project, reach leasing goals and request funding

b.

Approval of each and every advance (draw) on the construction loan

c.

Approval of major design changes

d.

Minimum rent-up (lease-up) requirements prior to funding

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