Lender certification Sample Clauses
Lender certification. The Lender must certify to RHS that:
(1) No major changes have been made in the Lender’s loan conditions and re- quirements since the issuance of the conditional commitment, except those approved in writing by RHS. In the event the interest rate has not been fixed at the time the conditional com- mitment is issued, and the interest rate increases between the time of issuance of the conditional commit- ment and loan closing, the Lender should note the change when submit- ting the package to RHS for loan guar- ▇▇▇▇▇. If either or both of the under- writing ratios are exceeded as a result of the interest rate increase, the Lend- er should list the compensating factors that demonstrate that sufficient repay- ment ability still exists.
(2) All planned property acquisition has been completed and:
(i) All development has been com- pleted; or
(ii) An escrow account has been es- tablished in accordance with § 1980.315.
(3) Required insurance coverage is in effect and an escrow account has been established for the payment of taxes and insurance.
(4) Truth-in-lending requirements have been met.
(5) All equal employment oppor- tunity and nondiscrimination require- ments have been met.
(6) The loan has been properly closed by a party skilled and experienced in conducting loan closings and the re- quired security instruments, including any required shared equity instru- ments, have been obtained and re- corded in the appropriate office in a timely and accurate manner.
(7) The borrower has a marketable (clean and defensible) title to the prop- erty then owned by the borrower, sub- ject to the instrument securing the loan to be guaranteed, and any other exceptions approved in writing by RHS.
(8) Lien priorities are consistent with the requirements of the conditional commitment.
(9) The loan proceeds have been dis- bursed for purposes and in amounts consistent with the conditional com- mitment.
(10) There has been no adverse change in the borrower’s situation since the conditional commitment was issued by RHS.
(11) All other requirements of the conditional commitment have been met.
Lender certification. Please complete this form for every loan enrolled in an SSBCI program.
Lender certification. [Officer of Bank, Title], hereby certify, represent and warrant on behalf of Lender that all information and documentation submitted to the Authority in connection with this recovery summary report is accurate, genuine and complete and contains true copies of Lender's records for this loan. I further certify that I have personally reviewed and confirmed, based upon Lender's records with respect to this loan provided herewith and that to the best of my knowledge and belief the information contained therein is true and accurate. I also certify to the best of my knowledge and belief that Lender has materially complied with the PLP requirements set forth in the Master Participation Agreement and Approval Letter applicable to this loan. By signing below, I represent and warrant that I have the proper authority to execute this document on behalf of Lender. Signature: Date: [Remainder of Page Intentionally Blank]
Lender certification. Each Lender certifies to the Administrative Agent that it is a Private Lender on the Closing Date (such certification as a Private Lender or Public Lender to the Administrative Agent by a Lender is herein referred to as a "Lender Certification"). Each Person subsequently becoming a Lender hereunder through an Assignment and Assumption, an amendment to this Agreement, a joinder agreement or otherwise, must concurrently therewith deliver a Lender Certification to the Administrative Agent, certifying whether such assignee will be a Private Lender or Public Lender. Once such Lender Certification is delivered to the Administrative Agent, no Lender shall be entitled to change its status as a Private Lender during the term of this Agreement, unless there shall at such time exist an Event of Default or unless another Lender is a Public Lender at that time.