Required Loan Docs

Commonly Required Items for a commercial loan requested

Promissory Note
Mortgage or Deed of Trust
Assignment of Leases and Rents
Assignment of Management Agreement (If applicable)
UCC-I Financing Statements (encumbering all fixtures, appliances, etc.)
Enviornmental Indemnity Agreement
Guaranty Agreement
Lead-Based Paint Acknowledgement and Indemnification Agreement
Asbestos O & M Agreement (If applicable)

——————————————————————————–

Other Documentation

Copy of Title Policy
Mortgage Title Insurance Commitment
Evidence of required insurance and special endorsements (If applicable)
Copies of all recorded exception documents
UCC Financing Statement Search, Tax Lien Search and Judgement Search
Real Property Tax Search
Copies of most recent property tax bills
Municipal departmental violation searches, including enviornmental lien searches

——————————————————————————–
Leases
Copies of all leases, including all modifications and amendments (commercial tenants onl)
Copies of standard form lease (commercial and multifamily)
Rent Roll and Occupancy Statements
Estoppel Letters and Subordination Agreements
Estoppel letters executed by all space tenants (commercial tenants only)
Subordination, non-disturbance and Attornment Agreements (commercial tenants only)
Zoning, Use and Occupancy
Letter from municipality (zoning and building compliance)
Zoning Comfort Letter
Copy of Management Agreement
Survey
Casualty Insurance Documentation
Copy of All Risk Insurance Policy (Hazard & Liability)
Boiler Damage and Liability Policy (If applicable)
Flood Insurance Policy or evidence that premises are not in flood zone
Evidence of payment of one year’s insurance premium
Law and Ordinance coverage if property is non-conforming
——————————————————————————–
Borrower Organizational Documents
Where Borrower is Corporation or Corporate General Partner

Articles of Incorporation and all amendments thereto, certified by Secretary of State where incorporated
Copy of Bylaws, certified by borrower
Certificate of Good Standing issued by Secretary of State (or equivalent) of state where incorporated
Borrowing Resolution of Board of Directors
Incumbency and Secretary Certificate

Where Borrower is Limited or General Partner of a Partnership
Articles of Incorporation of General Partnership and all amendments thereto, certified by Secretary of State where incorporated
Certificate of Good Standing of General Partner
Copy of Limited Partnership Agreement
Certificate of Limited Partnership and al amendments thereto, certified by appropriate office
Evidence of Publication of Certificate of Limited Partnership (if required)
Borrowing Resolution

Where Borrower is Limited Liability Company
Articles of Incorporation and all amendments thereto, certified as files by the Secretary of State where organized
Copy of Operating Agreement, certified by borrower
Certificate of Good Standing
Borrowing Resolution of Member/Manager