94001M Note_Modified 5-2-24

1
OMB Approval No. 2502-0598
(Exp. //)
Public Reporting Burden for this collection of information is estimated to average 1 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.
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.

NOTE
(MULTISTATE)
HUD Project No.
HUD Project Name:
$___________________________

_______________, 20____

FOR VALUE RECEIVED, the undersigned, _____________________________
a _____________________________ organized and existing under the laws of
_____________________________(“Borrower”) jointly and severally (if more than
one) promises to pay to the order of _____________________________, a
_________________________________ organized and existing under the laws of
_____________________________, the principal sum of
____________________________________________________
__________________________ Dollars ($____________________) (“Loan”), with
interest on the unpaid principal balance at the Interest Rate.*
[Alternative A. Solely for Construction Loans Having a Split Rate; delete Alternative A if
not applicable]*

As used herein, “Interest Rate” means, as applicable, (i) the annual rate of
___________per centum (_____%) (“Construction Rate”) payable through and
including ______________, 20__ [month before first amortized payment] and (ii)
thereafter at the annual rate of _________________ per centum (____%) (“Permanent
Rate”).
[Alternative B. For all other Loans; delete Alternative B if not applicable]*
As used herein, “Interest Rate” means the annual rate of ___________________per
centum (___________%).*



Alterations to this provision are permitted provided that the alterations comply with Program Obligations.
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1.
Defined Terms. As used in this Note, (a) the term “Lender” means the
holder of this Note, (b) the term “Indebtedness” means the principal of, interest on,
and all other amounts due at any time under this Note, the Security Instrument or any
other Loan Document, including prepayment premiums, late charges, default interest,
and advances to protect the security of the Security Instrument under Section 13 of the
Security Instrument; (c) the term “Security Instrument” has the meaning set forth in
Section 4 of this Note; and (d) the term “Program Obligations” means (1) all
applicable statutes and any regulations issued by the Secretary pursuant thereto that
apply to the Project, including all amendments to such statutes and regulations, as they
become effective, except that changes subject to notice and comment rulemaking shall
become effective only upon completion of the rulemaking process, and (2) all current
requirements in HUD handbooks and guides, notices, and mortgagee letters that apply
to the Project, and all future updates, changes and amendments thereto, as they
become effective, except that changes subject to notice and comment rulemaking shall
become effective only upon completion of the rulemaking process, and provided that
such future updates, changes and amendments shall be applicable to the Project only
to the extent that they interpret, clarify and implement terms in this Note rather than add
or delete provisions from such document. Handbooks, guides, notices, and mortgagee
letters are available on “HUDCLIPS,” at www.hud.gov.
Any capitalized term or word used herein but not defined shall have the meaning given
to such term or word in the Regulatory Agreement between Borrower and HUD or the
Security Instrument.
2.
Address for Payment. All payments due under this Note shall be
payable in immediately available funds at
___________________________________________________________, or such
other place as may be designated by written notice to Borrower from or on behalf of
Lender.
3.
as follows:

Payment of Principal and Interest. Principal and interest shall be paid

[Alternative A. Construction Loan payment provision – Split Rate; delete Alternative A if
not applicable]*
(a)
Interest only at the Construction Rate on such amount of principal as may
be advanced from time to time, computed from the date of such advance, shall be
payable monthly commencing on ____________, 20__ [month following closing], and
on the first day of each month thereafter up to and including ____________, 20__
(“Last Interest Only Payment Date”) [month before first amortized payment].
Thereafter, consecutive monthly installments of principal and interest at the Permanent
Rate, each in the amount of _________________________________________ Dollars
(US $________________), shall be payable on the first day of each month beginning
on ________________, 20__ (“Amortization Commencement Date”), [Add the
following language if the Note is bifurcated: through __________, 20____. Thereafter,
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consecutive monthly installments of principal and interest at the Permanent Rate, each
in the amount of ___________________ Dollars (US $_______) shall be payable on
the first day of each month beginning on _________, 20___,] until the entire unpaid
principal balance evidenced by this Note is fully paid. Notwithstanding the foregoing, in
the event that any principal under this Note is advanced after the Last Interest Only
Payment Date, for the period commencing on the Amortization Commencement Date
and continuing through the first day of the month following the date on which the final
advance of principal is made, the monthly installments of principal and interest shall be
reduced, as determined by the Lender, to equal the sum of (i) interest accrued on this
Note (at the applicable interest rate) on the outstanding principal balance during the
prior month plus (ii) the principal payment due under the original amortization schedule
used in determining the monthly principal and interest payment amount set forth above.
In any event, the balance of the principal (if any) remaining unpaid, plus accrued
interest shall be due and payable on _____________________, 20__ or on any earlier
date on which the unpaid principal balance of this Note becomes due and payable, by
acceleration or otherwise (“Maturity Date”).
[Alternative B. Construction Loan payment provision – Single Rate; delete Alternative B
if not applicable]*
(a)
Interest only at the Interest Rate on such amount of principal as may be
advanced from time to time, computed from the date of such advance, shall be payable
monthly commencing on ________, 20__ [month following closing], and on the first day
of each month thereafter up to and including _____________, 20__ (“Last Interest
Only Payment Date”) [month before first amortized payment]. Thereafter, consecutive
monthly installments of principal and interest at the Interest Rate, each in the amount of
_________________________________________ Dollars (US $________________),
shall be payable on the first day of each month beginning on ________________, 20__
(“Amortization Commencement Date”), [Add the following language if the Note is
bifurcated: through __________, 20____. Thereafter, consecutive monthly installments
of principal and interest, each in the amount of ___________________ Dollars (US
$_______) shall be payable on the first day of each month beginning on _________,
20___,] until the entire unpaid principal balance evidenced by this Note is fully paid.
Notwithstanding the foregoing, in the event that any principal under this Note is
advanced after the Last Interest Only Payment Date, for the period commencing on the
Amortization Commencement Date and continuing through the first day of the month
following the date on which the final advance of principal is made, the monthly
installments of principal and interest shall be reduced, as determined by the Lender, to
equal the sum of (i) interest accrued on this Note (at the Interest Rate) on the
outstanding principal balance during the prior month plus (ii) the principal payment due
under the original amortization schedule used in determining the monthly principal and
interest payment amount set forth above. In any event, the balance of the principal (if
any) remaining unpaid, plus accrued interest shall be due and payable on
_____________________, 20__ or on any earlier date on which the unpaid principal
balance of this Note becomes due and payable, by acceleration or otherwise (“Maturity
Date”).
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[Alternative C. Non-Construction Loan payment provision; delete Alternative C if not
applicable]*
(a)
Interest only at the Interest Rate on the principal outstanding for the period
beginning on the date of disbursement and ending on and including the last day of the
month in which such disbursement is made [[shall be payable on __________, 20__] or
[shall be prepaid upon delivery of this Note]]. Thereafter, consecutive monthly
installments of principal and interest, each in the amount of _________Dollars (US
$_________), shall be payable on the first day of each month beginning on
____________, 20__ [the first day of the second month after the month of closing]
(“Amortization Commencement Date”), [Add the following language if the Note is
bifurcated: through __________, 20____. Thereafter, consecutive monthly installments
of principal and interest, each in the amount of ___________________ Dollars (US
$_______) shall be payable on the first day of each month beginning on _________,
20___,] until the entire unpaid principal balance evidenced by this Note is fully paid.
Any remaining principal and interest shall be due and payable on ________, 20__ or on
any earlier date on which the unpaid principal balance of this Note becomes due and
payable, by acceleration or otherwise (“Maturity Date”).
(b)
Solely for the purpose of calculating interest due, any regularly scheduled
monthly installment of principal and interest that is received by Lender before the date it
is due shall be deemed to have been received on the due date.
4.
Security. The Indebtedness is secured by, among other things, a
mortgage, deed to secure debt or deed of trust dated as of the date of this Note
(“Security Instrument”), and reference is made to the Security Instrument for other
rights of Lender as to collateral for the Indebtedness.
5.
Application of Payments. If at any time Lender receives, from Borrower
or otherwise, any amount applicable to the Indebtedness that is less than all amounts
due and payable at such time, Lender shall apply that payment to amounts then due
and payable in the manner and in the order set forth in Section 7(a)(3) of the Security
Instrument. Neither Lender’s acceptance of an amount that is less than all amounts
then due and payable nor Lender’s application of such payment in the manner
authorized shall constitute or be deemed to constitute either a waiver of the unpaid
amounts or an accord and satisfaction. Notwithstanding the application of any such
amount to the Indebtedness, Borrower’s obligations under this Note shall remain
unchanged.
6.
Acceleration. If a Monetary Event of Default occurs and is continuing for
a period of thirty (30) days, the entire unpaid principal balance, any accrued interest and
all other amounts payable to Lender under this Note and any other Loan Document
shall at once become due and payable, at the option of Lender, without any prior notice
to Borrower. If a Covenant Event of Default occurs and the Indebtedness is accelerated
as set forth in the Security Instrument, the entire unpaid principal balance, any accrued
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interest, and all other amounts payable to Lender under this Note and any other Loan
Document shall at once become due and payable. Lender may exercise this option to
accelerate regardless of any prior forbearance. Upon Lender’s exercise of any right of
acceleration under this Note, Borrower shall pay to Lender, in addition to the entire
unpaid principal balance of this Note outstanding at the time of the acceleration, all
accrued interest and all other sums due Lender under the Loan Documents.
7.
Late Charge. If any monthly amount payable under this Note or under the
Security Instrument or any other Loan Document is not received by Lender within ten
(10) days after the amount is due, Borrower shall pay to Lender, immediately and
without demand by Lender, a late charge equal to ____ percent of the unpaid principal
and interest due in such month. Borrower acknowledges that its failure to make timely
payments will cause Lender to incur additional expenses in servicing and processing
the Loan, and that it is extremely difficult and impractical to determine those additional
expenses. Borrower agrees that the late charge payable pursuant to this Section
represents a fair and reasonable estimate, taking into account all circumstances existing
on the date of this Note, of the additional expenses Lender will incur by reason of such
late monthly payment.
8.

Exculpation; Remedies.

(a)
Except for personal liability expressly provided for in this Note or in the
Security Instrument or in the Regulatory Agreement, the execution of this Note shall
impose no personal liability upon Borrower and those parties listed in the Section 50
Addendum to the Regulatory Agreement for payment of the Indebtedness evidenced
thereby, and in the Event of Default, the holder of the Note shall look solely to the
Mortgaged Property in satisfaction of the Indebtedness and will not seek or obtain any
deficiency or personal judgment against Borrower and those parties listed in the Section
50 Addendum to the Regulatory Agreement, except such judgment or decree as may be
necessary to foreclose or bar its interest in the Mortgaged Property and all other
property mortgaged, pledged, conveyed or assigned to secure payment of the
Indebtedness; provided, that nothing in this Section 8 of this Note and no action so
taken shall operate to impair any obligation of Borrower under the Regulatory
Agreement.
(b)
Notwithstanding Section 8(a) above, Borrower shall be liable to Lender for
any loss or damage suffered by Lender as a result of (1) failure of Borrower to pay to
Lender, upon demand after an Event of Default, all Rents to which Lender is entitled
under Section 3(a) of the Security Instrument and the amount of all security deposits
collected from tenants with existing Leases; (2) failure of Borrower to apply all insurance
proceeds and condemnation proceeds as required by Sections 19 and 20 of the
Security Instrument; (3) failure of Borrower to comply with Section 15 of the Security
Instrument relating to the delivery of books and records, statements, schedules and
reports; (4) Borrower’s acquisition of any property or operation of any business not
permitted by Section 33 of the Security Instrument; (5) a transfer or the granting of a lien
or encumbrance that is an Event of Default under Sections 17 and 21 of the Security
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Instrument, other than a transfer consisting solely of the involuntary removal or
involuntary withdrawal of a general partner in a limited partnership or a manager in a
limited liability company; or (6) fraud or written material misrepresentation by Borrower
or any officer, director, general partner, member, manager or employee of Borrower in
connection with the Loan Application for or creation of the Indebtedness or any request
for any action or consent by Lender. These damages shall be paid only from the
available proceeds of an appropriate insurance policy or from Surplus Cash or other
escrow accounts.
(c)
Notwithstanding Section 8(a) above, Borrower shall provide complete
redress as set forth in Section 45(c) of the Security Instrument and shall indemnify and
hold harmless the Indemnitees as set forth in Section 48 of the Security Instrument.
9.

Voluntary and Involuntary Prepayments.

[Alternative A. Non-GNMA or No Other Bond Obligations prepayment provision. If the
Loan is funded with GNMA or Other Bond Obligations, Alternative A should be stricken.]
(a)
(1) Borrower shall have the right to prepay the Indebtedness in whole or
part in an amount equal to one or more monthly payments of principal and interest due,
on the first [or last] Business Day of any month prior to maturity upon at least thirty (30)
days prior written notice to the Lender, which notice shall specify the date on which the
prepayment is to be made, the principal amount of such prepayment and the total
amount to be paid. In the event of any prepayment of principal at any time, the
Borrower shall concurrently pay to the Lender (i) interest on the amount prepaid through
and including the last day of the month in which the prepayment is made; and (ii) a
prepayment premium equal to [describe prepayment which must be consistent with
Program Obligations].
(2) Notwithstanding any provision herein for prepayment premium, such
premium shall be applicable only to the amount of prepayment in any one calendar year
that is in excess of fifteen per centum (15%) of the original principal sum of this Note.
No default shall exist by reason of nonpayment of any required installment of principal
and interest so long as the amount of optional additional prepayments of principal
already made pursuant to the privilege of prepayment set forth in this Note equals or
exceeds the amount of such required installment of principal and interest due as of the
date of such optional prepayment of principal.
[Alternative B. GNMA or Other Bond Obligations prepayment provision. Loans funded
with GNMA or Other Bond Obligations shall attach Rider 1 solely setting forth the HUDapproved prepayment restriction and prepayment premium charge. No other provisions
are permitted to be included. If the Loan is NOT funded with GNMA or Other Bond
Obligations, Alternative B should be stricken.]
(a)
This Note contains a prepayment restriction and prepayment premium
charge acceptable to HUD as to term, amount, and conditions, which are set forth in the
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attached Rider 1. In the event of a default, pursuant to Program Obligations, HUD may
override any lockout or any prepayment premium, or combination thereof, in Rider 1 on
the last day of any calendar month during any year in which the prepayment premium is
greater than one percent (1%) in order to facilitate a partial or full refinancing of the
Mortgaged Property and avoid a mortgage insurance claim.
(b)
Any application by Lender of any collateral or other security to the
repayment of any portion of the unpaid principal balance of this Note prior to the
Maturity Date and in the absence of acceleration shall be deemed to be a partial
prepayment by Borrower, requiring the payment to Lender by Borrower of a prepayment
premium in the amount provided for in Section 9(a) or in Rider 1, as applicable.
(c)
Notwithstanding the provisions of subsections (a) and (b) above: (1) any
payment made, other than as a result of acceleration, within 30 days of the Maturity
Date shall not be considered a prepayment, (2) any payment made in accordance with
Sections 19(f) or 20(b) of the Security Instrument shall not be considered a prepayment,
(3) no prepayment premium shall be payable with respect to any reduction in the
original principal amount of the Loan, or any prepayment, resulting from any cost
certification or other report required by HUD pursuant to Program Obligations, and (4)
any payment made pursuant to Section 13 of this Note shall not be considered a
prepayment.
(d)
Any permitted or required prepayment of less than the unpaid principal
balance of this Note shall not extend or postpone the due date of any subsequent
monthly installments or change the amount of such installments, unless Lender agrees
otherwise in writing.
(e)
Borrower acknowledges that the provisions of this Note relating to
prepayment restrictions and prepayment premiums are a material part of the
consideration for the Loan, and acknowledges that the terms of this Note are in other
respects more favorable to Borrower as a result of the Borrower’s voluntary agreement
to such provisions.
(f)
If the Indebtedness is paid in full while insured under the provisions of the
National Housing Act, as amended, the Borrower shall pay to the Lender such adjusted
mortgage insurance premium as may be required by Program Obligations.
(g)
All payments to reduce the principal balance hereunder, other than
regularly scheduled payments of principal, shall be made to Lender in immediately
available funds. Payments received after ________will be deemed to have been
received on the next Business Day.
[To be included if the Loan is insured under Sections 207 pursuant to Section 223(f) of
the National Housing Act, as amended. If the Loan is NOT insured under Section 207
pursuant to Section 223(f) of the National Housing Act, as amended, subparagraph (h)
should be stricken]
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(h)
Notwithstanding any other provision of this Note to the contrary, this Note
may not be prepaid either in whole or in part for a period of five (5) years from the date
of endorsement of this Note, except (1) in cases where the prior written approval of
HUD is obtained and such written approval is expressly based on Borrower and HUD
entering into a HUD-approved use agreement to maintain the Mortgaged Property as
rental housing for the remainder of the specified five (5) year period, or (2) unless
otherwise permitted in writing by HUD based upon its authority under Program
Obligations.
10.
Costs and Expenses. Borrower shall pay all expenses and costs,
including reasonable fees and out-of-pocket expenses of attorneys and expert
witnesses and costs of investigation and litigation (including appellate), incurred by
Lender as a result of any default under this Note or in connection with efforts to collect
any amount due under this Note, or to enforce the provisions of any of the other Loan
Documents, including those incurred in post-judgment collection efforts and in any
bankruptcy proceeding (including any action for relief from the automatic stay of any
bankruptcy proceeding) or judicial or non-judicial foreclosure proceeding.
11.
Forbearance. Any forbearance by Lender in exercising any right or
remedy under this Note, the Security Instrument, or any other Loan Document, or
otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of
any other right or remedy. The acceptance by Lender of payment of all or any part of
the Indebtedness after the due date of such payment, or in an amount that is less than
the required payment, shall not be a waiver of Lender’s right to require prompt payment
when due of all other payments on account of the Indebtedness or to exercise any right
or remedy for any failure to make prompt payment. Enforcement by Lender of any
security for the Indebtedness shall not constitute an election by Lender of remedies so
as to preclude the exercise of any other right or remedy available to Lender.
12.
Waivers. Presentment, demand, notice of dishonor, protest, notice of
acceleration, notice of intent to demand or accelerate payment or maturity, presentment
for payment, notice of nonpayment, grace, and diligence in collecting the Indebtedness
are waived by Borrower.
13.
Loan Charges. If any applicable law limiting the amount of interest or
other charges permitted to be collected from Borrower in connection with the Loan is
interpreted so that any interest or other charge provided for in any Loan Document,
whether considered separately or together with other charges provided for in any Loan
Document, violates that law, and Borrower is entitled to the benefit of that law, that
interest or charge is hereby reduced to the extent necessary to eliminate that violation.
The amounts, if any, previously paid to Lender in excess of the permitted amounts shall
be applied by Lender to reduce the Indebtedness. For the purpose of determining
whether any applicable law limiting the amount of interest or other charges permitted to
be collected from Borrower has been violated, all Indebtedness that constitutes interest,
as well as all other charges made in connection with the Indebtedness that constitute
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interest, shall be deemed to be allocated and spread ratably over the stated term of the
Note. Unless otherwise required by applicable law, such allocation and spreading shall
be effected in such a manner that the rate of interest so computed is uniform throughout
the stated term of this Note.
14.
Commercial Purpose. Borrower represents that the Indebtedness is
being incurred by Borrower solely for the purpose of carrying on a business or
commercial enterprise, and not for personal, family or household purposes.
15.
Counting of Days. Except where otherwise specifically provided, any
reference in this Note to a period of “days” means calendar days, not Business Days.
16.
Governing Law; Consent to Jurisdiction and Venue.
(a) This Note and the Security Instrument, if it does not itself expressly
identify the law that is to apply to it, shall be governed by the laws of the jurisdiction in
which the Land is located (“Property Jurisdiction”), except so long as the Loan is
insured or held by HUD, federal law will apply to HUD’s rights and remedies where state
or local laws are preempted by federal law.
(b)
Borrower agrees that any controversy arising under or in relation to this
Note or the Security Instrument shall be litigated exclusively in the Property Jurisdiction
except as, so long as the Loan is insured or held by HUD and solely as to rights and
remedies of HUD, federal jurisdiction may be appropriate pursuant to any federal
requirements. The state courts, and with respect to HUD’s rights and remedies, federal
courts and Governmental Authorities in the Property Jurisdiction, shall have exclusive
jurisdiction over all controversies which shall arise under or in relation to this Note, any
security for the Indebtedness, or the Security Instrument. Borrower irrevocably
consents to service, jurisdiction, and venue of such courts for any such litigation and
waives any other venue to which it might be entitled by virtue of domicile, habitual
residence or otherwise.
17.
Rules of Construction. The captions and headings of the Sections of
this Note are for convenience only and shall be disregarded in construing this Note.
Any reference in this Note to a “Section” shall, unless otherwise explicitly provided, be
construed as referring, respectively, to a Section of this Note. Use of the singular in this
Note includes the plural and use of the plural includes the singular. As used in this
Note, the term “including” means “including, but not limited to.”
18.
Notices. All notices, demands and other communications required or
permitted to be given by Lender to Borrower or Borrower to Lender pursuant to this
Note shall be given in accordance with Section 31 of the Security Instrument.
19.
Federal Remedies. In addition to any rights and remedies set forth in the
Regulatory Agreement between Borrower and HUD, HUD has rights and remedies
under federal law so long as HUD is the insurer or holder of the Loan, including but not
limited to the right to foreclose pursuant to the Multifamily Mortgage Foreclosure Act of
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1981, as amended, 12 U.S.C. Section 3701, et seq., as amended, when HUD is the
holder of the Note.
20.
Termination of HUD Rights and Remedies. At such time as HUD no
longer insures or holds this Note, (a) all rights and responsibilities of HUD shall
conclude, all mortgage insurance and references to mortgage insurance premiums, all
references to HUD, GNMA and Program Obligations and related terms and provisions
shall cease, and all rights and obligations of HUD shall terminate; (b) all obligations and
responsibilities of Borrower to HUD shall likewise terminate; and (c) all obligations and
responsibilities of Lender to HUD shall likewise terminate; provided, however, nothing
contained in this Section 20 shall in any fashion discharge Borrower from any
obligations to HUD under the Regulatory Agreement or Program Obligations or Lender
from any obligations to HUD under Program Obligations, which occurred prior to
termination of the Contract of Insurance or Regulatory Agreement, as applicable. The
provisions of this Section 20 shall be given effect automatically upon the termination of
the Contract of Insurance or the transfer of this Note and the Security Instrument by
HUD to another party, provided that upon the request of Borrower, Lender or the party
to whom the Note or the Security Instrument has been transferred, at no cost to HUD,
HUD shall execute such documents as may be reasonably requested to confirm the
provisions of this Section 20.
[INSERT THE FOLLOWING IF PERMITTED UNDER THE LAW OF THE PROPERTY
JURISDICTION AND INSERT ANY OTHER APPROPRIATE PROVISIONS FOR THE
JURISDICTION]
21. WAIVER OF TRIAL BY JURY. BORROWER AND LENDER EACH
(a) AGREES NOT TO ELECT A TRIAL BY JURY WITH RESPECT TO ANY ISSUE
ARISING OUT OF THIS NOTE OR THE RELATIONSHIP BETWEEN THE PARTIES
AS LENDER AND BORROWER THAT IS TRIABLE OF RIGHT BY A JURY AND
(b) WAIVES ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO SUCH ISSUE TO
THE EXTENT THAT ANY SUCH RIGHT EXISTS NOW OR IN THE FUTURE. THIS
WAIVER OF RIGHT TO TRIAL BY JURY IS SEPARATELY GIVEN BY EACH PARTY,
KNOWINGLY AND VOLUNTARILY WITH THE BENEFIT OF COMPETENT LEGAL
COUNSEL.

[IN THE EVENT THERE ARE MODIFICATIONS TO THE NOTE OTHER THAN
THOSE DESCRIBED IN SECTION 9(a) AND RIDER 1, INDICATE HERE THAT
THERE IS AN ATTACHED RIDER CONTAINING SUCH MODIFICATIONS, AND
REFERENCE RIDER 2, IF APPLICABLE.]

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IN WITNESS WHEREOF, Borrower has signed and delivered this Note or has caused
this Note to be signed and delivered by its duly authorized representative as of the date
first above written.

[SIGNATURES]
[Borrower name]

By: ____________________________
[Name & capacity of signatory]

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[Endorsement Panel - New Construction/Substantial Rehabilitation (not to be used for
Section 223(f))]

[[State] or [Commonwealth]] of _______________________[[Deed of Trust] or
[Mortgage] or [Deed to Secure Debt]] Note

[Borrower]
to
[Lender]

Project No.:

-_____________

Initially endorsed for insurance under §
of the National Housing Act, as
amended, and regulations published thereunder in effect on
,
20__ to the extent of advances approved by HUD.

By:

Date:

__, 20___

Print Name:
Title:

Authorized Representative

At final endorsement, a total sum of $
insurance hereunder by HUD.

has been approved for

By:

Date:

__, 20___

Print Name:
Title:

Authorized Representative

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[Endorsement Panel - Insurance Upon Completion]

[[State] or [Commonwealth]] of _______________________[[Deed of Trust] or
[Mortgage] or [Deed to Secure Debt]] Note

[Borrower]

to
[Lender]

Project No.:

-_____________

A total sum of $
has been approved by HUD for insurance under §
of the National Housing Act, as amended, and the regulations published thereunder in
effect on
, 20__.

By:

Date:

__, 20___

Print Name:
Title:

Authorized Representative

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[223(a)(7) Endorsement Panel]
[[State] or [Commonwealth]] of _______________________[[Deed of Trust] or
[Mortgage] or [Deed to Secure Debt]] Note

[Borrower]
to
[Lender]

Project No.:

-_____________

A total sum of $
has been approved by HUD for insurance under §
/ pursuant to § 223(a)(7) of the National Housing Act, as amended, and the regulations
published thereunder in effect on
, 20__.

For purposes of compliance with Section 223(a)(7)(A)(iv) of the National Housing Act,
as amended, the Contract of Insurance regarding HUD Project No. [Old Project
Number] is transferred to HUD Project No. [New Project Number], and said Contract of
Insurance is hereby amended to reflect the terms, conditions and provisions of the
National Housing Act, as amended, as evidenced by HUD’s endorsement for insurance
of this Note.
By:

Date:

__, 20___

Print Name:
Title:

Authorized Representative

Previous editions are obsolete

Note

HUD-94001M

15
[223(f) Endorsement Panel]

[[State] or [Commonwealth]] of _______________________[[Deed of Trust] or
[Mortgage] or [Deed to Secure Debt]] Note

[Borrower]

to

[Lender]

Project No.:

-_____________

A total sum of $
has been approved by HUD for insurance under §
207/ pursuant to § 223(f) of the National Housing Act, as amended, and the regulations
published thereunder in effect on
, 20__.

By:

Date:

__, 20___

Print Name:
Title:

Authorized Representative

Previous editions are obsolete

Note

HUD-94001M