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ENVIRONMENTAL An environmental liability risk assessment of the Real Estate Collateral <br /> satisfactory to Lender, consisting of an Environmental Data Base Report <br /> and an Environmental Questionnaire completed by Borrower. The <br /> requirement for an Environmental Phase I or Possible Phase II report will <br /> be waived in the event that the Data Base Report and Evaluation shows no <br /> recognized environmental conditions and shows that the property is low <br /> risk. <br /> DEPOSIT RELATIONSHIP We would like to have the opportunity to discuss moving more of <br /> the deposit relationship over to the bank that includes the Orange <br /> County ABC Board. <br /> COMMITMENT FEE: None <br /> INSURANCE: At the time the loan is originated, and all times thereafter until the <br /> loan is paid in full, you must maintain builders risk/hazard and <br /> general liability insurance on the collateral against such risks and in <br /> such form and amount as the Bank may require. If the collateral is <br /> located in a flood hazard area, flood insurance is also required. The <br /> Bank must be named as a loss payee on the hazard policy and <br /> additional insured on the general liability policy you must provide <br /> us with an insurance certificate. The insurance must be issued by a <br /> company approved by the Bank and licensed to transact business in <br /> the state in which the collateral is located. <br /> PREPAYMENT PENALTY: Option 1: In the event that the borrower selects the 20 year permanent <br /> term,they shall have the privilege to prepay the principal amount of the <br /> Loan in full or in part subject to the following prepayment premium: 5% <br /> for year one,4%for year two,3%for year three,2%for year 4,and 1% <br /> for years 5— 10. <br /> Option 2: In the event that the borrower selects the 10 or 15 year <br /> permanent term,they shall have the privilege to prepay the principal <br /> amount of the Loan in full or in part subject to the following prepayment <br /> premium:3%for years one and two;2%u for years three and four;and 1% <br /> for year five. <br /> Under either option, the Prepayment Penalty shall be waived on that <br /> portion of the loan which is paid from the net income of the Borrower, <br /> excess or extraordinary earnings of the Borrower, or a bona fide third <br /> party sale of the property, <br /> FINANCIAL REPORTING <br /> 1.Audited Financial Statements <br /> a. Orange County ABC Board <br /> i <br /> I <br /> i <br /> I <br />