Loan Documentation

The following items are commonly required for each mortgage loan to be provide by the applicant.

Proposed Loan Documentation

  • Promissory Note

  • Mortgage or Deed of Trust

  • Assignment of Leases and Rents

  • Assignment of Management Agreement (if applicable)

  • UCC-I Financing Statements (encumbering all fixtures, appliances, etc.)

  • Environmental Indemnity Agreement

  • Guaranty Agreement



  • Lead-Based Paint Acknowledgment and indemnification    Agreement Asbestos O&M Agreement (if applicable)


    • Other Documentation

  • Copy of Title Policy

  • Mortgage Title Insurance Commitment

  • Evidence of required insurance and special endorsements (if applicable)

  • Copies of all recorded exception documents

  • UCC Financing Statement Search, Tax Lien Search and Judgment     Search

  • Real Property Tax Search

  • Copies of most recent real property tax bills

  • Municipal departmental violation searches, including environmental lien     searches


    • Leases

  • Copies of all leases, including all modifications and amendments     (commercial tenants only)
  • Copies of standard form lease (commercial and multi- family)
    •

  • Rent Roll and Occupancy Statements

  • Estoppel Letters and Subordination Agreements

  • Estoppel letters executed by all space tenants (commercial tenants only)

  • Subordination, non-disturbance and Attornment Agreements     (commercial tenants only)

  • Zoning, Use and Occupancy

  • Copies of Certificate of Occupancy/Building Permit

  • Letter from municipality (zoning and building compliance)

  • Zoning Comfort Letter

  • Copy of Management Agreement

  • Survey

    Casualty Insurance Documentation


  • Copy of All Risk Insurance Policy (Hazard & Liability)

  • Boiler Damage and Liability Policy (if applicable)

  • Flood Insurance Policy or evidence that premises are not in flood zone

  • Evidence of payment of one year's insurance premium

  • Law and Ordinance coverage if property is non-conforming

     

    BORROWER ORGANIZTIONAL DOCUMENTS

    Where Borrower is Corporation or Corporate General Partner


  • Articles of Incorporation and all amendments thereto, certified by    Secretary of State where in corporate

  • Copy of Bylaws, certified by borrower

  • Certificate of Good Standing issued by Secretary of State (or equivalent)     of state where incorporated

  • Borrowing Resolution of Board of Directors

  • Incumbency and Secretary Certificate

    Where Borrower is Limited or General Partner of a Partnership


  • Articles of Incorporation of General Partnership and all amendments
        thereto, certified     by Secretary of State where incorporated

  • Certificate of Good Standing of General Partner

  • Copy of Limited Partnership Agreement

  • Certificate of Limited Partnership and all amendments thereto, certified     by appropriate office

  • Evidence of Publication of Certificate of Limited Partnership (if required)

  • Borrowing Resolution

    Where Borrower is Limited Liability Company


  • Articles of Incorporation and all amendments thereto, certified as files by     the Secretary of State where organized

  • Copy of Operating Agreement, certified by borrower

  • Certificate of Good Standing

  • Borrowing Resolution of Members/Manager