Extract to table

E, the guaranty obligations imposed on Fairwater represent significant contingent liabilities, and we must negotiate the scope of these guaranties to the narrowest terms acceptable to the lender

The 15-business-day notice period for subsequent capital calls is relatively standard for institutional joint ventures of this type, but the capital call default provisions — including dilution mechanics and forced sale rights — must be carefully drafted to protect the Client's interests in the event of a Prescott funding failure

The builder's risk policy must name the JV, Fairwater, Prescott, the general contractor, and the construction lender as additional insureds or loss payees, as applicable

Coverage must include protection against fire, wind, flood (if applicable given waterfront location), theft, vandalism, and other standard perils

The CGL policy must be maintained throughout the construction period and into the operational period following completion

The diligence workstreams (title, survey, environmental, zoning, appraisal) run concurrently during November and December 2025 and must be completed before signing