92023-ORCF Request for Final Endorsement of Credit Instrument

Request for Final Endorsement of Credit Instrument Section 232

U.S. Department of Housing and Urban Development Office of Residential Care Facilities

OMB Approval No. 2502-0605 (exp. 03/31/2018)

Public reporting burden for this collection of information is estimated to average 1 hour. This includes the time for collecting, reviewing, and reporting the data. The information is being collected to obtain the supportive documentation which must be submitted to HUD for approval, and is necessary to ensure that viable projects are developed and maintained. The Department will use this information to determine if properties meet HUD requirements with respect to development, operation and/or asset management, as well as ensuring the continued marketability of the properties. This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. 

Warning: Any person who knowingly presents a false, fictitious, or fraudulent statement or claim in a matter within the jurisdiction of the U.S. Department of Housing and Urban Development is subject to criminal penalties, civil liability, and administrative sanctions. 

Project Name:		FHA Project Number:
Project Address:
Date of Commitment:	Borrower:

The definition of any capitalized term or word used herein can be found in this Request for Final Endorsement of Credit Instrument, the Security Instrument, the Note and/or the Regulatory Agreement between Borrower and HUD.

To the Department of Housing and Urban Development (“HUD”):

The undersigned declares that construction of this Project is complete for purposes of going to final endorsement*; and that advances have been made to Borrower in accordance with your Certificate of Insurance on the dates and in the amounts set forth in the schedule below; that the undersigned has paid no kickback and no fee or other consideration, directly or indirectly, to any person who has received payment or other consideration from any other person in connection with this transaction, including the purchase or sale of the Mortgaged Property, except for compensation paid, if any, for the actual performance of services and approved by you; and that to the best of the undersigned's knowledge and belief the Loan is now eligible for mortgage insurance and, accordingly, the undersigned hereby requests final endorsement of the Note for mortgage insurance in the total sum of $______________________ .

Schedule of Advances
Date	Amount	Date		Amount
Subtotal (amount advanced to date):			$
A final advance in the following amount will be disbursed immediately upon your final endorsement of the Note for insurance			$
The total of all advances made, including the final advance, is: The Lender affirms that the statements and representations of fact by Lender contained in this instrument are, to the best of Lender’s knowledge, true, accurate, and complete. This instrument has been made, presented, and delivered for the purpose of influencing an official action of HUD in insuring the Loan, and may be relied upon by HUD as a true statement of the facts contained therein.			$
Lender:		By: (Signature, Title & Date) X
* Minor items of construction still to be completed are covered by an Escrow Agreement for Incomplete Construction (HUD-92456-ORCF), herewith delivered to you. There is held in escrow as a guarantee of the completion thereof the amounts determined by your office as necessary for such purpose.

Certificate of Borrower

FHA Project Number:

To: Department of Housing and Urban Development (HUD):

In order to induce HUD to finally endorse the Note for mortgage insurance, and with the intent that HUD rely upon the statements hereinafter set forth, the undersigned makes the following certifications:

1. That it has received the sum of $______________________________________________ which when added to the final advance will total $_________________________________, constituting the full insurable amount of the Loan for this Project.

2. That construction of the Project is complete and is in accordance with the plans and specifications approved by HUD; that the Security Instrument is a good and valid first lien on the Mortgaged Property therein described; that the Mortgaged Property is free and clear of all liens other than that of the Security Instrument except for a lien approved by HUD given in favor of a government entity or other HUD-approved lien expressly subordinate to the first lien of the Loan; that all outstanding unpaid obligations and past due interest payments contracted by or on behalf of Borrower, directly or indirectly, in connection with the Loan transaction, the acquisition of the Mortgaged Property, the construction of the Project, or any arrearages are listed below:

*	(a) HUD-approved notes (copies attached)	$
	(b) Due General Contractor	$
*	(c) Other	$

3. That, except for the amounts due on notes listed in item (a) of paragraph 2 above, the undersigned agrees to pay the foregoing obligations in cash and to furnish HUD receipts, or other evidence of payment satisfactory to HUD, within 45 days following receipt of the final advance of Loan proceeds on its “Certificate of Actual Cost” (HUD-92330-ORCF), supported by the documentation required therein. Borrower further agrees that if HUD accepts estimates for any items, Borrower shall, at final endorsement, establish a cash escrow in the amount of $___________________ to pay all the “to be paid in cash items” identified on its Certificate of Actual Cost and debts to third parties who made the original disbursements for an item listed as paid on HUD-92330-ORCF, unless documentation, satisfactory to HUD, evidences that these amounts were paid by Borrower subsequent to the submission of its Certificate of Actual Cost. Borrower understands that the items covered by this cash escrow must be paid within 45 days of the date of final endorsement.

The Borrower affirms that the statements and representations of fact by Borrower contained in this instrument are, to the best of Borrower’s knowledge, true, accurate, and complete. This instrument has been made, presented, and delivered for the purpose of influencing an official action of HUD in insuring the Loan, and may be relied upon by HUD as a true statement of the facts contained therein.

Borrower:	By: (Signature & Title) X	Date:
*Note: This includes any past due amount under the construction loan. (If the space provided is inadequate to list all unpaid obligations, insert the total in each category and attach itemizations. If there are no outstanding obligations, so state.)

Certificate of General Contractor

FHA Project Number:

To the Department of Housing and Urban Development (HUD):

The undersigned, as General Contractor of the above project, makes the following certifications:

1. That construction is in accordance with the plans and specifications that were approved by HUD at initial closing, and all change orders approved by HUD during construction.

2. That all outstanding unpaid obligations contracted by or on behalf of the undersigned in connection with the construction contract are listed below. (If space below is inadequate, continue listing on an attached sheet and so note.)

(a)	$
(b)	$
(c)	$

3. That, except for unfinished work covered by an approved escrow deposit, the undersigned agrees to pay the foregoing obligations in cash, within 15 days following receipt of payment from Borrower.

The General Contractor affirms that the statements and representations of fact by General Contractor contained in this instrument are, to the best of General Contractor’s knowledge, true, accurate, and complete. This instrument has been made, presented, and delivered for the purpose of influencing an official action of HUD in insuring the Loan, and may be relied upon by HUD as a true statement of the facts contained therein.

General Contractor:

By: (Signature & Title) X

Date:

Previous versions obsolete Page 4 of 4 form HUD-92023-ORCF (03/2018)