Common use of SWORN CONSTRUCTION STATEMENT Clause in Contracts

SWORN CONSTRUCTION STATEMENT. Prior to the initial disbursement hereunder, the Borrower shall have submitted to Lender and Title a Construction Cost Statement sworn to by Borrower and Contractor(s) and all major Sub-Contractors or materialmen who shall then be engaged in furnishing labor, materials or supplies for the Improvements. The list should show the name of each and every Contractor, Sub-Contractor and materialman, his address and an estimate of the dollar value of the work, labor and materials to be done or supplied and a general statement of the nature of the work to be done or materials to be supplied by each. The Borrower shall furnish to the Lender any amendments or additions to the original statement as so submitted. The Borrower shall also submit a sworn statement of all Loan and carrying charges certified to Lender.