Products tagged with 'construction loan agreement'

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Alabama Construction Loan Agreement

The maximum of any allowable advance will be the total of (i) the soft costs (development, planning, etc.) as set out in the budget, plus (ii) the lesser of the hard costs (materials and labor) of the completed construction or the scheduled value of each completed item.
The retainage will be advanced only after substantial completion, issuance of a certificate of occupancy, and delivery to the lender of a survey of the project.
Advances will be made for each item on the cost budget only up to the amount budgeted for such item.
The lender is entitled to hold back an amount sufficient to pay all costs relating to the loan and the project.
The file includes a Draw Request form to be tendered by the borrower to the lender before each advance of loan proceeds.
This is a downloadable and customizable legal form which can be easily tailored to fit your unique needs.
Intended for use only in the State of Alabama.

$29.99

This type of loan agreement is typically used for construction projects.
Advances will be made as and when needed, up to a maximum amount.
Interest will be calculated daily based on the principal balance outstanding, not compounded.
Principal may be repaid at any time with no prepayment penalty.
All outstanding principal and interest becomes due upon completion of the project.
This legal contract template is available as a downloadable and fully editable MS Word template.
Intended for use only in the Province of Ontario, Canada.

$12.49

A participating mortgage is a loan under which the lender (Mortgagee) participates in the revenues of the property.
A portion of the interest on the loan is to be paid to the Mortgagee annually.
A further portion of the interest will be paid from the balance of sale proceeds of each of the condo units (if any), after payment of development costs, financing charges and marketing costs.
The borrower (Mortgagor) will be paid a general and administrative fee for construction and management of the project.
A further project expense consisting of interest on the equity is to be paid to the developer.
After one year, the Mortgagor can prepay all or part of the mortgage loan without bonus or penalty.
Available in MS Word format.
Intended to be used in Canada.

$44.99