|
STANDARD UNDERWRITING DOCUMENTS CHECKLIST
Binding letter of
commitment from AA/Aa or AAA/Aaa rated credit enhancer covering the amount
and life of the proposed bond
issue.
Binding letter
of commitment from Tax Credit Syndicator on amount and timing of funds
from sale of tax credits, net of all associated
fees.
Proposed final sources
and uses of funds, including cash from tax credit syndication, grants or
any subordinated debt as well as proposed
draw schedule on use of bond proceeds.
Partnership Agreement
or Articles of Incorporation for the sponsoring organization.
Certificate of
Registration from the Nevada Secretary of State under NRS 88.580 or 86.551
as appropriate, for the sponsor’s
corporation or partnership.
Articles of Organization
and any resolutions or operating agreements which establish the signing
authority for any person who will
be signing legal documents associated with the financing.
Contract of Purchase
for the land upon which the proposed project is to be sited.
Title report
on the project site, a list of all exceptions and a pro forma ALTA policy
to be issued for the lending organization.
Copy of a Phase
I Environmental Report on the project site that is less than 12 months
old.
Copy of the most
recent geotechnical reports (less than 12 months old) on the project site.
Copy of credit
enhancer approved certified appraisal.
A copy of a ‘certified’
"As-built" survey of the subject property, ALTA qualified, showing the
project properly placed on the
subject site along with all title exceptions plotted.
Copy of any development
agreement with the owner of the project.
Copy of any management
agreement to be utilized for the project.
Copy of any general
contractor’s agreement between the development organization and the proposed
general contractor for
the project.
Parcel Map, recorded
form only.
If property is
located on a FEMA flood zone, a copy of the zone with the subject property
sited on it.
Copy of zoning
allowing for the development of the subject project on the proposed site.
|
