Assignment: This Construction Loan Application is about you and may not be assigned by Applicant. Lender may assign the application without your consent to its affiliate or any third party.
Insurance Requirements: Applicant may provide lender proof of all risk Builders Risk Insurance equal to 100% of replacement cost on the property. Applicant shall maintain General Liability insurance in the amount of not less than One Million Dollars ($1,000,000.00) per occurrence and a general aggregate of Two Million Dollars ($2,000,000.00).
Certification: The undersigned certifies that all information provided in the “Application” (including all riders and attachments, previously signed credit applications, and anything provided in support of the Application) is true and correct as of the date the Application is signed and acknowledge the Lender will rely on the accuracy of this information in determining whether to extend credit and that Applicant will be liable for any monetary damage sustained by Lender or any other party as a result of any misrepresentations or inaccuracy.
Business Purpose: This loan is to be made for business purposes only. You agree that it is not your intention to occupy the property as your personal residence
Loan Documents: You agree to execute the documents that our counsel or we may reasonably require in connection with making this loan. These typically include a promissory note, building loan agreement, mortgage, security agreement, financing statements and guaranty (if applicable).
Failure to Close: In the extent that this loan does not close; you agree to be responsible for (1) a $250.00 application fee that will be billed to your TD&F Investment Group LLC account and (2) all costs, and attorney fees incurred by TD&F Investment Financing form the time your application is submitted
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