92478M - Borrower' 92478M - Borrower's Oath (7-20-22)

4

Borrower’s Oath U.S. Department of Housing OMB Approval No. 2502-0598

(For Residential Housing and Urban Development (Exp. //)

but not Section 232 Projects) Office of Housing

Public Reporting Burden for this collection of information is estimated to average 0.5 hours 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.

Date _____________________ Project No.________________

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

(The definition of any capitalized term or word used herein can be found in this Borrower’s Oath, the Regulatory Agreement between Borrower and HUD, the Note, and/or the Security Instrument.)

In accordance with the stated intent of Congress, HUD’s regulations implementing the National Housing Act, as amended (“NHA”), and the Regulatory Agreement between Borrower and HUD, the undersigned hereby certifies under oath that so long as the Loan made pursuant to the Security Instrument is insured or held by HUD:

(1) Pursuant to Section 513 of the NHA, no part of the Mortgaged Property will be used as a Rental for Transient or Hotel Purposes, and said Mortgaged Property shall be used principally for residential use;

(2) The Mortgaged Property will not be sold while the Loan insurance is in effect or the Security Instrument is held by HUD unless the purchaser files with HUD a like certification executed by such purchaser under oath;

(3) Borrower has not and will not enter into any agreement with any party other than Lender in conjunction with the Loan transaction that allows for perfection of any portion of the UCC Collateral through control under the UCC;

(4) {INSERT FOR LOANS INVOLVING CONSTRUCTION OR REHABILITATION} That to Borrower’s knowledge, there are no proposed change(s) of law, ordinance, or governmental regulation (proposed in a formal manner by elected or appointed officials) that, if enacted or promulgated after the commencement of construction/rehabilitation, would require a modification to the Project, and/or prevent the Project from being completed in accordance with the Drawings and Specifications dated _________, executed by Borrower and ________________[insert General Contractor] and referred to in the Construction Contract.

{The following statement must be included above each party’s signature and appear on the same page as the signature.}

The signatory below certifies that all of the information provided in this Borrower’s Oath and in any accompanying documentation is true, accurate, and complete, has been made, presented, and delivered for the purpose of influencing an official action of HUD, and may be relied upon by HUD as a true statement of the facts contained therein. The signatory acknowledges that the submission of any false, fictitious, or fraudulent statement, representation, or certification in this Borrower’s Oath or on any accompanying documents may result in criminal, civil, and/or administrative sanctions, including fines, penalties, and/or imprisonment under applicable federal law.

Name of Borrower Entity: __________________________________

By (authorized agent): /s/ _____________________________

Printed Name, Title: _____________________________ Dated: _____________________________

[ADD ADDITIONAL LINES AND NOTARY JURATS IF MORE THAN ONE SIGNATORY]

NOTE: THE FOREGOING CERTIFICATION MUST BE GIVEN UNDER OATH IN ACCORDANCE WITH STATE LAW REQUIREMENTS FOR TAKING AN OATH.

[The jurat below is included as an example. Please replace with the jurisdiction-appropriate notary form for sworn/affirmed oaths.]

Notary Jurat for Borrower

County of _______________ )

)ss.

State of ________________ )

Subscribed and sworn to (or affirmed) before me on this _________ day of _________________, 20_____, by ____________________________________, proved to me on the basis of satisfactory evidence to be the person(s) who appeared before me.

Notary Signature: ______________________________________

My commission expires: _________________

[SEAL]

Previous editions are obsolete

Borrower’s Oath

HUD-92478M