Form of Closing Checklist by GIkmJR6y

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									                                CLOSING CHECKLIST

                       The Community Preservation Corporation
                             Loan re: _______________
                            Borrower: ________________


DOCUMENT                                             RESPONSIBILITY1   STATUS
1.    Individual Property Term Sheet                 CPC               Prepared for each loan
                                                                       closing
2.    Master Loan Agreement w/ Term Sheet            CPC               To be executed prior to
      attached                                                         the closing of the 1st
                                                                       loan
3.    Building Loan Note                             CPC               Executed at each loan
                                                                       closing
4.    Building Loan Mortgage                         CPC               Executed at each loan
                                                                       closing
5.    UCC-1 Financing Statements                     CPC               Filed at each closing
        -Filing Fee

6.    Borrower’s Affidavit                           CPC               Executed at each loan
                                                                       closing
7.    Environmental Indemnity                        CPC               To be executed prior to
                                                                       the closing of the 1st
                                                                       loan
8.    Guaranty of Payment and Completion             CPC               To be executed prior to
                                                                       the closing of the 1st
                                                                       loan
9.    Wire Transfer Agreements                       CPC               Executed at each loan
                                                                       closing
         -Trade Breakdown                            CPC

10.   Borrower’s Certificate                         CPC               To be executed prior to
                                                                       the closing of the 1st
                                                                       loan
         Organizational Documents                    BC
         Resolutions/Consents/Authorizations         BC
         Good Standing certificate                   BC
         Certificate of Formation                    BC


1
      CPC = The Community Preservation Corporation
      BC = Borrower’s Counsel
DOCUMENT                                        RESPONSIBILITY1   STATUS
11.   Consent to Pick up Loan Advances          CPC               Executed at each loan
                                                                  closing
12.   W-9 Form                                  CPC               Executed at each loan
                                                                  closing
13.   Survey                                    BC                Delivered prior to each
                                                                  loan closing
14.   Title Commitment                          BC                Delivered prior to each
                                                                  loan closing
        ALTA 8.1 environmental endorsement
        ALTA 9
        Pending disbursements clause
        Waiver of arbitration
        Standard NY
        Variable rate

15.   Original Insurance Policy/Certificate     BC                Delivered prior to each
                                                                  loan closing
16.   Borrower’s Counsel’s Opinion Letter       BC                Delivered at each loan
                                                                  closing
17.   Authorization to Disburse Loan Proceeds   CPC               Executed at each loan
                                                                  closing
18.   Title Company Escrow Letter               CPC               Executed at each loan
                                                                  closing
19.   Closing Letter                            CPC               Prepared for each loan
                                                                  closing
20.   Legal Bill                                CPC               Prepared for each loan
                                                                  closing
21.   Legal Closing Letter                      CPC               Prepared for each loan
                                                                  closing
22.   Copies of Checks                          CPC

23.   Title Continuation Information Sheet      CPC

24.   CPC Special Conditions, if any            BC




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