92023M - Request f 92023M - Request for Final Endorsement of Credit Instrum

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Request for Final Endorsement of Credit Instrument

U.S. Department of Housing and Urban Development Office of Housing

OMB Approval No. 2502-0598 (Exp. //)

Public Reporting Burden for this collection of information is estimated to average 1.0 hour per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Response to this request for information is required in order to receive the benefits to be derived. 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. While no assurance of confidentiality is pledged to respondents, HUD generally discloses this data only in response to a Freedom of Information Act request.

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:		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 $______________________ .

Based upon Lender’s reasonable due diligence, and as set forth in Exhibit ___: (a) as of the date hereof, the Borrower has obtained, or caused to be obtained all necessary certificates, permits, licenses, qualifications, authorizations, consents, and approvals from all necessary Governmental Authorities to own and operate the Mortgaged Property, and to carry out all of the transactions required by the Loan Documents, and to comply with all applicable federal statutes and regulations of HUD in effect on the date of the Firm Commitment; and (b) appropriate actions have been taken by and necessary filings have been made with those Governmental Authorities, all as disclosed by Borrower.

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-92456M), three conformed copies whereof are 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

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), 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, 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

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.

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 editions are obsolete

Request for Final Endorsement of Credit Instrument

HUD-92023M