Section # Applicable Interest Period. The interest period with respect to each Advance under the LOC shall be the period commencing on the date such Advance was made to Borrower by Lender, which shall commence the date such funds were withdrawn by Borrower from the LOC Disbursement Account and continuing until such Advance is repaid in full.

Subject to the terms of this Agreement, the Lender shall make available to the Borrower each Advance referred to in Clause 2.1, before the close of business on the requested Disbursement Date by transferring such Advance to the bank account as shall be designated by the Borrower.

Shows an effective date and time that is # as of the date and time of disbursement of the Warehousing Advance from escrow, or # in the event the Warehousing Advance relates to a Pre-funded Mortgage Loan, as of the date and time of the recording of the Mortgage.

Section # Conditions Precedent to Advance of Funds. As conditions precedent to the disbursement of any Advance, Lender, unless otherwise expressly waived in writing by Lender, shall have received and approved the following, all of which shall be complete, true, accurate and in form satisfactory to Lender in its sole reasonable discretion:

“Advance” or “Advances” shall mean, individually and collectively, an advance of Loan Proceeds pursuant to this Agreement and the Note.

Prior to the First Advance, Borrower shall have delivered to Lender an executed Control Agreement (as defined in the Security Agreement), for each of the Interest Credit Account and the LOC Disbursement Account.

The agreement of Lenders to make any Advance requested to be made on any date (including the initial Advance), is subject to the satisfaction of the following conditions precedent as of the date such Advance is made:

Reimbursement of Expense Advance. Within five (5) Business Days after the execution of this Agreement, the Holders will refund $56,792.06 advanced to the Holders to cover their costs and expenses in connection with the Transaction Documents.

Term Advance Facility Fee. Borrower shall pay the Term Advance Facility Fee to Lender promptly upon the execution of the Second Amendment.

Term Advance Termination Fee. In the event the Term Advance is prepaid in full prior to January 31, 2020 by a lender other than Lender, Borrower shall pay the Term Advance Termination Fee to Lender.